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Leases
 9 Months Ended
Sep. 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 September 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)September 30, 2024December 31, 2023
Right-of-use assets$8,430 $8,431 
Lease liabilities8,841 8,833 
The Firm’s net rental expense was $553 million and $538 million for the three months ended September 30, 2024 and 2023 and $1.7 billion and $1.5 billion for the nine months ended September 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 September 30,Nine months ended September 30,

(in millions)		2024202320242023
Operating lease income$706 $695 $2,067 $2,166 
Depreciation expense394 468 1,268 1,344 
Leases Leases
Refer to Note 18 of JPMorgan Chase’s 2023 Form 10-K for a further discussion on leases.
Firm as lessee
At September 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)September 30, 2024December 31, 2023
Right-of-use assets$8,430 $8,431 
Lease liabilities8,841 8,833 
The Firm’s net rental expense was $553 million and $538 million for the three months ended September 30, 2024 and 2023 and $1.7 billion and $1.5 billion for the nine months ended September 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 September 30,Nine months ended September 30,

(in millions)		2024202320242023
Operating lease income$706 $695 $2,067 $2,166 
Depreciation expense394 468 1,268 1,344