Accumulated Other Comprehensive Income/(Loss) (Tables)

3 Months Ended

Mar. 31, 2023

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 gain/(loss) 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 March 31, 2023 (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, 2023	$	(9,124)			$	(1,545)	$	(33)		$	(5,656)		$	(1,451)		$	468		$	(17,341)
Net change	2,212				197		(21)			798			(55)			(208)			2,923
Balance at March 31, 2023	$	(6,912)	(a)		$	(1,348)	$	(54)		$	(4,858)		$	(1,506)		$	260		$	(14,418)
As of or for the three months ended March 31, 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	(7,453)				(62)		110			(2,791)			67			646			(9,483)
Balance at March 31, 2022	$	(4,813)	(a)		$	(996)	$	(21)		$	(3,087)		$	(143)		$	(507)		$	(9,567)

(a)As of March 31, 2023 includes after-tax net unamortized unrealized gains/(losses) of $(29.1) million related to HTM securities that have been transferred to AFS as permitted by the new hedge accounting guidance. As of March 31, 2023 and 2022 includes after-tax net unamortized unrealized gains/(losses) of $(1.3) billion and $2.2 billion, related to AFS securities that have been transferred to HTM, respectively. Refer to Note 9 of this Form 10-Q, and Note 10 of JPMorgan Chase's 2022 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.

	2023						2022
Three months ended March 31, (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	$	2,042	$	(490)	$	1,552	$	(10,202)	$	2,450	$	(7,752)
Reclassification adjustment for realized (gains)/losses included in net income(a)	868		(208)		660		394		(95)		299
Net change	2,910		(698)		2,212		(9,808)		2,355		(7,453)
Translation adjustments(b):
Translation	973		(41)		932		(341)		24		(317)
Hedges	(963)		228		(735)		338		(83)		255
Net change	10		187		197		(3)		(59)		(62)
Fair value hedges, net change(c):	(28)		7		(21)		145		(35)		110
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	567		(136)		431		(3,436)		825		(2,611)
Reclassification adjustment for realized (gains)/losses included in net income(d)	483		(116)		367		(237)		57		(180)
Net change	1,050		(252)		798		(3,673)		882		(2,791)
Defined benefit pension and OPEB plans, net change:	(71)		16		(55)		90		(23)		67
DVA on fair value option elected liabilities, net change:	(274)		66		(208)		859		(213)		646
Total other comprehensive income/(loss)	$	3,597	$	(674)	$	2,923	$	(12,390)	$	2,907	$	(9,483)

    

(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. During the three months ended March 31, 2023, the Firm reclassified a net pre-tax loss of $(5) million to other revenue related to the acquisition of CIFM of which $(41) million related to the net investment hedge loss. There were no sales or liquidations of legal entities that resulted in reclassifications for the three month period ended March 31, 2022.

(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.