Earnings per Share

6 Months Ended

Jun. 30, 2022

Earnings per share

Refer to Note 23 of JPMorgan Chase’s 2021 Form 10-K for a discussion of the computation of basic and diluted earnings per share (“EPS”). The following table presents the calculation of basic and diluted EPS for the three and six months ended June 30, 2022 and 2021.


(in millions, except per share amounts)	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Basic earnings per share
Net income	$	8,649	$	11,948	$	16,931	$	26,248
Less: Preferred stock dividends	410		393		807		772
Net income applicable to common equity	8,239		11,555		16,124		25,476
Less: Dividends and undistributed earnings allocated to participating securities	44		59		85		130
Net income applicable to common stockholders	$	8,195	$	11,496	$	16,039	$	25,346

Total weighted-average basic shares outstanding	2,962.2		3,036.6		2,969.6		3,054.9
Net income per share	$	2.77	$	3.79	$	5.40	$	8.30

Diluted earnings per share
Net income applicable to common stockholders	$	8,195	$	11,496	$	16,039	$	25,346
Total weighted-average basic shares outstanding	2,962.2		3,036.6		2,969.6		3,054.9
Add: Dilutive impact of SARs and employee stock options, unvested PSUs and nondividend-earning RSUs	4.1		5.3		4.1		5.4
Total weighted-average diluted shares outstanding	2,966.3		3,041.9		2,973.7		3,060.3
Net income per share	$	2.76	$	3.78	$	5.39	$	8.28