Accumulated Other Comprehensive Income/(Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated other comprehensive income/(loss)

AOCI includes the after-tax change in unrealized gains and losses on investment securities, foreign currency translation adjustments (including the impact of related derivatives), fair value changes of excluded components on fair value hedges, cash flow hedging activities, net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans, and fair value option-elected liabilities arising from changes in the Firm’s own credit risk (DVA).

As of or for the three months ended June 30, 2022 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at April 1, 2022	$	(4,813)			$	(996)	$	(21)		$	(3,087)		$	(143)		$	(507)		$	(9,567)
Net change	(4,031)				(679)		51			(1,348)			20			1,185			(4,802)
Balance at June 30, 2022	$	(8,844)	(a)		$	(1,675)	$	30		$	(4,435)		$	(123)		$	678		$	(14,369)
As of or for the three months ended June 30, 2021 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at April 1, 2021	$	3,841			$	(723)	$	(140)		$	134		$	(1,064)		$	(1,007)		$	1,041
Net change	674				64		(23)			591			9			214			1,529
Balance at June 30, 2021	$	4,515	(a)		$	(659)	$	(163)		$	725		$	(1,055)		$	(793)		$	2,570
As of or for the six month ended June 30, 2022 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at January 1, 2022	$	2,640			$	(934)	$	(131)		$	(296)		$	(210)		$	(1,153)		$	(84)
Net change	(11,484)				(741)		161			(4,139)			87			1,831			(14,285)
Balance at June 30, 2022	$	(8,844)	(a)		$	(1,675)	$	30		$	(4,435)		$	(123)		$	678		$	(14,369)
As of or for the six months ended June 30, 2021 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at January 1, 2021	$	8,180			$	(473)	$	(112)		$	2,383		$	(1,132)		$	(860)		$	7,986
Net change	(3,665)				(186)		(51)			(1,658)			77			67			(5,416)
Balance at June 30, 2021	$	4,515	(a)		$	(659)	$	(163)		$	725		$	(1,055)		$	(793)		$	2,570

(a)As of June 30, 2022 and 2021 includes after-tax net unamortized unrealized gains/(losses) of $(1.4) billion and $3.0 billion, related to AFS securities that have been transferred to HTM, respectively. Refer to Note 10 of JPMorgan Chase's 2021 Form 10-K for further information.

Changes of the components of accumulated other comprehensive income (loss)

The following table presents the pre-tax and after-tax changes in the components of OCI.

	2022						2021
Three months ended June 30, (in millions)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	(5,456)	$	1,308	$	(4,148)	$	727	$	(171)	$	556
Reclassification adjustment for realized (gains)/losses included in net income(a)	153		(36)		117		155		(37)		118
Net change	(5,303)		1,272		(4,031)		882		(208)		674
Translation adjustments(b):
Translation	(3,550)		193		(3,357)		280		(10)		270
Hedges	3,524		(846)		2,678		(270)		64		(206)
Net change	(26)		(653)		(679)		10		54		64
Fair value hedges, net change(c):	67		(16)		51		(31)		8		(23)
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(1,750)		420		(1,330)		1,118		(269)		849
Reclassification adjustment for realized (gains)/losses included in net income(d)	(24)		6		(18)		(340)		82		(258)
Net change	(1,774)		426		(1,348)		778		(187)		591
Defined benefit pension and OPEB plans, net change:	33		(13)		20		2		7		9
DVA on fair value option elected liabilities, net change:	1,558		(373)		1,185		276		(62)		214
Total other comprehensive income/(loss)	$	(5,445)	$	643	$	(4,802)	$	1,917	$	(388)	$	1,529
	2022						2021
Six month ended June 30, (in millions)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	(15,658)	$	3,758	$	(11,900)	$	(4,966)	$	1,194	$	(3,772)
Reclassification adjustment for realized (gains)/losses included in net income(a)	547		(131)		416		141		(34)		107
Net change	(15,111)		3,627		(11,484)		(4,825)		1,160		(3,665)
Translation adjustments(b):
Translation	(3,891)		217		(3,674)		(920)		29		(891)
Hedges	3,862		(929)		2,933		930		(225)		705
Net change	(29)		(712)		(741)		10		(196)		(186)
Fair value hedges, net change(c):	212		(51)		161		(68)		17		(51)
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(5,186)		1,245		(3,941)		(1,577)		378		(1,199)
Reclassification adjustment for realized (gains)/losses included in net income(d)	(261)		63		(198)		(604)		145		(459)
Net change	(5,447)		1,308		(4,139)		(2,181)		523		(1,658)
Defined benefit pension and OPEB plans, net change:	123		(36)		87		93		(16)		77
DVA on fair value option elected liabilities, net change:	2,417		(586)		1,831		87		(20)		67
Total other comprehensive income/(loss)	$	(17,835)	$	3,550	$	(14,285)	$	(6,884)	$	1,468	$	(5,416)

(a)The pre-tax amount is reported in Investment securities gains/(losses) in the Consolidated statements of income.

(b)Reclassifications of pre-tax realized gains/(losses) on translation adjustments and related hedges are reported in other income/expense in the Consolidated statements of income. The amounts were not material for the three and six months ended June 30, 2022 and 2021.

(c)Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross currency swaps.

(d)The pre-tax amounts are primarily recorded in noninterest revenue, net interest income and compensation expense in the Consolidated statements of income.