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Business Segments
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Business Segments Business segments
The Firm is managed on an LOB basis. Effective in the second quarter of 2024, the Firm reorganized its reportable business segments by combining the former Corporate & Investment Bank and Commercial Banking business segments to form one reportable segment, the Commercial & Investment Bank (“CIB”). As a result of the reorganization, the Firm now has three reportable business segments: Consumer & Community Banking, Commercial & Investment Bank, and Asset & Wealth Management. In addition, there is a Corporate segment.
The business segments are determined based on the products and services provided, or the type of customer served, and they reflect the manner in which financial information is currently evaluated by the Firm’s Operating Committee. Segment results are presented on a managed basis. Refer to Explanation and Reconciliation of the Firm’s use of Non-GAAP Financial Measures on pages 18-19 for a definition of managed basis.
Refer to Note 32 of JPMorgan Chase’s 2023 Form 10-K for a further discussion of JPMorgan Chase’s business segments.
Segment results
The following table provides a summary of the Firm’s segment results as of or for the three and six months ended June 30, 2024 and 2023, on a managed basis. The Firm’s definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm (and each of the reportable business segments) on an FTE basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. Refer to Note 32 of JPMorgan Chase’s 2023 Form 10-K for additional information on the Firm’s managed basis.
Capital allocation
The amount of capital assigned to each business segment is referred to as equity. At least annually, the assumptions, judgments and methodologies used to allocate capital are reassessed and, as a result, the capital allocated to the LOBs may change. Refer to Note 32 of JPMorgan Chase’s 2023 Form 10-K for additional information on capital allocation.
Segment results and reconciliation(a)
As of or for the three months
ended June 30,
(in millions, except ratios)		Consumer &
Community Banking		Commercial &
Investment Bank		Asset & Wealth Management
202420232024202320242023
Noninterest revenue$3,996$3,543$12,744$11,637$3,633$3,358
Net interest income13,70513,6905,1734,8701,6191,585
Total net revenue17,70117,23317,91716,5075,2524,943
Provision for credit losses
2,6431,8623841,13520145
Noninterest expense9,4258,3139,1668,1943,5433,163
Income/(loss) before income tax expense/(benefit)
5,6337,0588,3677,1781,6891,635
Income tax expense/(benefit)1,4231,7522,4701,878426409
Net income/(loss)$4,210$5,306$5,897$5,300$1,263$1,226
Average equity
$54,500$54,346$132,000$137,505$15,500$16,670
Total assets638,493620,1931,939,0381,737,334247,353247,118
ROE30 %38 %17 %15 %32 %29 %
Overhead ratio53 48 51 50 67 64 
As of or for the three months
ended June 30,
(in millions, except ratios)		Corporate
Reconciling Items(a)
Total
202420232024202320242023
Noninterest revenue$7,758
(b)
$1,980$(677)$(990)$27,454
(b)
$19,528
Net interest income2,3641,738(115)(104)22,74621,779
Total net revenue10,1223,718(792)(1,094)50,20041,307
Provision for credit losses
5(243)——3,0522,899
Noninterest expense1,579
(c)
1,152——23,713
(c)
20,822
Income/(loss) before income tax expense/(benefit)8,5382,809(792)(1,094)23,43517,586
Income tax expense/(benefit)1,759169(792)(1,094)5,2863,114
Net income/(loss)$6,779$2,640$—$—$18,149$14,472
Average equity
$106,763$69,364$—$—$308,763$277,885
Total assets1,318,1191,263,595NANA4,143,0033,868,240
ROENMNMNMNM23 %20 %
Overhead ratioNMNMNMNM47 50 
(a)Segment managed results reflect revenue on an FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results.
(b)Included $7.9 billion net gain related to Visa shares. Refer to Note 2 for additional information.
(c)Included $1.0 billion contribution of Visa shares to the JPMorgan Chase Foundation. Refer to Note 5 for additional information.
Segment results and reconciliation(a)
As of or for the six months
ended June 30,
(in millions, except ratios)		Consumer &
Community Banking		Commercial &
Investment Bank		Asset & Wealth Management
202420232024202320242023
Noninterest revenue$7,941$7,166$24,905$23,941$7,147$6,691
Net interest income27,41326,52310,5969,6773,2143,036
Total net revenue35,35433,68935,50133,61810,3619,727
Provision for credit losses
4,5563,2643851,610(37)173
Noninterest expense18,72216,37817,89016,9857,0036,254
Income/(loss) before income tax expense/(benefit)
12,07614,04717,22615,0233,3953,300
Income tax expense/(benefit)3,0353,4984,7073,955842707
Net income/(loss)$9,041$10,549$12,519$11,068$2,553$2,593
Average equity
$54,500$53,180$132,000$137,005$15,500$16,337
Total assets638,493620,1931,939,0381,737,334247,353247,118
ROE33 %39 %18 %16 %32 %31 %
Overhead ratio53 49 50 51 68 64 

As of or for the six months
ended June 30,
(in millions, except ratios)		Corporate
Reconciling Items(a)
Total
202420232024202320242023
Noninterest revenue$7,483
(b)
$1,225$(1,170)$(1,857)$46,306
(b)
$37,166
Net interest income4,8413,478(236)(224)45,82842,490
Total net revenue12,3244,703(1,406)(2,081)92,13479,656
Provision for credit losses
32127——4,9365,174
Noninterest expense2,855
(c)
1,312——46,470
(c)
40,929
Income/(loss) before income tax expense/(benefit)9,4373,264(1,406)(2,081)40,72833,553
Income tax expense/(benefit)1,982380(1,406)(2,081)9,1606,459
Net income/(loss)$7,455$2,884$—$—$31,568$27,094
Average equity
$102,519$68,038$—$—$304,519$274,560
Total assets1,318,1191,263,595NANA4,143,0033,868,240
ROENMNMNMNM20 %19 %
Overhead ratioNMNMNMNM50 51 
(a)Segment managed results reflect revenue on an FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results.
(b)Included $7.9 billion net gain related to Visa shares. Refer to Note 2 for additional information.
(c)Included $1.0 billion contribution of Visa shares to the JPMorgan Chase Foundation. Refer to Note 5 for additional information.