XML 43 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Leases
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Leases Leases
Refer to Note 18 of JPMorgan Chase’s 2023 Form 10-K for a further discussion on leases.
Firm as lessee
At June 30, 2024, JPMorgan Chase and its subsidiaries were obligated under a number of noncancellable leases, predominantly operating leases for premises and equipment used primarily for business purposes.
Operating lease liabilities and right-of-use (“ROU”) assets are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term.
The carrying values of the Firm’s operating leases were as follows:
(in millions)June 30, 2024December 31, 2023
Right-of-use assets$8,358 $8,431 
Lease liabilities8,739 8,833 
The Firm’s net rental expense was $556 million and $448 million for the three months ended June 30, 2024 and 2023 and $1.1 billion and $935 million for the six months ended June 30, 2024 and 2023, respectively.
Firm as lessor
The Firm’s lease financings are predominantly auto operating leases, and are included in other assets on the Firm’s Consolidated balance sheets.
The following table presents the Firm’s operating lease income, included within other income, and the related depreciation expense, included within technology, communications and equipment expense, on the Consolidated statements of income.
Three months ended June 30,Six months ended June 30,

(in millions)		2024202320242023
Operating lease income$689 $716 $1,361 $1,471 
Depreciation expense438 457 874 876 
Leases Leases
Refer to Note 18 of JPMorgan Chase’s 2023 Form 10-K for a further discussion on leases.
Firm as lessee
At June 30, 2024, JPMorgan Chase and its subsidiaries were obligated under a number of noncancellable leases, predominantly operating leases for premises and equipment used primarily for business purposes.
Operating lease liabilities and right-of-use (“ROU”) assets are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term.
The carrying values of the Firm’s operating leases were as follows:
(in millions)June 30, 2024December 31, 2023
Right-of-use assets$8,358 $8,431 
Lease liabilities8,739 8,833 
The Firm’s net rental expense was $556 million and $448 million for the three months ended June 30, 2024 and 2023 and $1.1 billion and $935 million for the six months ended June 30, 2024 and 2023, respectively.
Firm as lessor
The Firm’s lease financings are predominantly auto operating leases, and are included in other assets on the Firm’s Consolidated balance sheets.
The following table presents the Firm’s operating lease income, included within other income, and the related depreciation expense, included within technology, communications and equipment expense, on the Consolidated statements of income.
Three months ended June 30,Six months ended June 30,

(in millions)		2024202320242023
Operating lease income$689 $716 $1,361 $1,471 
Depreciation expense438 457 874 876