Long -Term Debt (Tables)

12 Months Ended

Dec. 31, 2010

Long -Term Debt (Tables) [Abstract]

Long-term debt carrying values by contractual maturity

By remaining maturity at			2010
December 31, 2010			Under						After						2009
(in millions, except rates)			1 year			1-5 years			5 years			Total			Total
Parent company
Senior debt:	Fixed rate	(a)	$	20,384		$	47,031		$	31,372		$	98,787		$	93,729
	Variable rate	(b)		15,648			37,119			6,260			59,027			73,335
	Interest rates	(c)		0.36–6.00	%		0.31–7.00	%		0.24–7.25	%		0.24–7.25	%		0.22–7.50	%
Subordinated debt:	Fixed rate		$	2,865		$	9,649		$	9,486		$	22,000		$	24,851
	Variable rate			—			1,987			9			1,996			1,838
	Interest rates	(c)		5.90–6.75	%		1.37–6.63	%		2.16–8.53	%		1.37–8.53	%		1.14–10.00	%
	Subtotal		$	38,897		$	95,786		$	47,127		$	181,810		$	193,753
Subsidiaries
Senior debt:	Fixed rate		$	546		$	1,782		$	2,900		$	5,228		$	3,310
	Variable rate			6,435			17,199			6,911			30,545			39,835
	Interest rates	(c)		0.26–2.00	%		0.21–3.75	%		0.32–14.21	%		0.21–14.21	%		0.16–14.21	%
Subordinated debt:	Fixed rate		$	—		$	—		$	8,605		$	8,605		$	8,655
	Variable rate			—			—			1,150			1,150			1,150
	Interest rates	(c)		—	%		—	%		0.63–8.25	%		0.63–8.25	%		0.58–8.25	%
	Subtotal		$	6,981		$	18,981		$	19,566		$	45,528		$	52,950
Junior subordinated debt:	Fixed rate		$	—		$	—		$	15,249		$	15,249		$	16,349
	Variable rate			—			—			5,082			5,082			3,266
	Interest rates	(c)		—	%		—	%		0.79–8.75	%		0.79–8.75	%		0.78–8.75	%
	Subtotal		$	—		$	—		$	20,331		$	20,331		$	19,615
Total long-term debt(d)(e)(f)			$	45,878		$	114,767		$	87,024		$	247,669	(h)(i)	$	266,318
Long-term beneficial interests:
	Fixed rate		$	3,095		$	4,328		$	2,372		$	9,795		$	1,034
	Variable rate			10,798			24,691			7,270			42,759			9,404
	Interest rates			0.28–7.00	%		0.25–11.00	%		0.05–7.47	%		0.05–11.00	%		0.25–7.13	%
Total long-term beneficial interests(g)			$	13,893		$	29,019		$	9,642		$	52,554		$	10,438

(a)	Included $18.5 billion and $21.6 billion as of December 31, 2010 and 2009, respectively, guaranteed by the FDIC under the TLG Program.
(b)	Included $17.9 billion and $19.3 billion as of December 31, 2010 and 2009, respectively, guaranteed by the FDIC under the TLG Program.
(c)	The interest rates shown are the range of contractual rates in effect at year-end, including non-U.S. dollar fixed- and variable-rate issuances, which excludes the effects of the associated derivative instruments used in hedge accounting relationships, if applicable. The use of these derivative instruments modifies the Firm’s exposure to the contractual interest rates disclosed in the table above. Including the effects of the hedge accounting derivatives, the range of modified rates in effect at December 31, 2010, for total long-term debt was (0.12)% to 14.21%, versus the contractual range of 0.21% to 14.21% presented in the table above. The interest rate ranges shown exclude structured notes accounted for at fair value.
(d)	Included long-term debt of $8.3 billion and $8.1 billion secured by assets totaling $11.7 billion and $11.4 billion at December 31, 2010 and 2009, respectively. Excludes amounts related to hybrid instruments.
(e)	Included $38.8 billion and $49.0 billion of outstanding structured notes accounted for at fair value at December 31, 2010 and 2009, respectively.
(f)	Included $879 million and $3.4 billion of outstanding zero-coupon notes at December 31, 2010 and 2009, respectively. The aggregate principal amount of these notes at their respective maturities was $2.7 billion and $6.6 billion, respectively.
(g)	Included on the Consolidated Balance Sheets in beneficial interests issued by consolidated VIEs. Also included $1.5 billion and $1.4 billion of outstanding structured notes accounted for at fair value at December 31, 2010 and 2009, respectively. Excluded short-term commercial paper and other short-term beneficial interests of $25.1 billion and $4.8 billion at December 31, 2010 and 2009, respectively.
(h)	At December 31, 2010, long-term debt aggregating $35.6 billion was redeemable at the option of JPMorgan Chase, in whole or in part, prior to maturity, based on the terms specified in the respective notes.
(i)	The aggregate carrying values of debt that matures in each of the five years subsequent to 2010 is $45.9 billion in 2011, $51.9 billion in 2012, $20.4 billion in 2013, $23.5 billion in 2014 and $18.9 billion in 2015.

Outstanding trust preferred capital debt securities

	Amount of
	trust preferred						Stated maturity
	capital debt		Principal amount				of trust preferred			Interest rate of
	securities		of debenture				capital securities		Earliest	trust preferred	Interest
	issued		issued		Issue		and		redemption	capital securities	payment/
December 31, 2010 (in millions)	by trust(a)		to trust(b)		date		debentures		date	and debentures	distribution dates
Bank One Capital III	$	474	$	674		2000		2030	Any time	8.75%	Semiannually
Bank One Capital VI		525		553		2001		2031	Any time	7.20%	Quarterly
Chase Capital II		482		497		1997		2027	Any time	LIBOR + 0.50%	Quarterly
Chase Capital III		295		305		1997		2027	Any time	LIBOR + 0.55%	Quarterly
Chase Capital VI		241		249		1998		2028	Any time	LIBOR + 0.625%	Quarterly
First Chicago NBD Capital I		249		256		1997		2027	Any time	LIBOR + 0.55%	Quarterly
J.P. Morgan Chase Capital X		1,000		1,015		2002		2032	Any time	7.00%	Quarterly
J.P. Morgan Chase Capital XI		1,075		1,004		2003		2033	Any time	5.88%	Quarterly
J.P. Morgan Chase Capital XII		400		390		2003		2033	Any time	6.25%	Quarterly
JPMorgan Chase Capital XIII		465		480		2004		2034	2014	LIBOR + 0.95%	Quarterly
JPMorgan Chase Capital XIV		600		586		2004		2034	Any time	6.20%	Quarterly
JPMorgan Chase Capital XV		93		132		2005		2035	Any time	5.88%	Semiannually
JPMorgan Chase Capital XVI		500		492		2005		2035	Any time	6.35%	Quarterly
JPMorgan Chase Capital XVII		496		558		2005		2035	Any time	5.85%	Semiannually
JPMorgan Chase Capital XVIII		748		749		2006		2036	Any time	6.95%	Semiannually
JPMorgan Chase Capital XIX		563		564		2006		2036	2011	6.63%	Quarterly
JPMorgan Chase Capital XX		995		996		2006		2036	Any time	6.55%	Semiannually
JPMorgan Chase Capital XXI		836		837		2007		2037	2012	LIBOR + 0.95%	Quarterly
JPMorgan Chase Capital XXII		996		997		2007		2037	Any time	6.45%	Semiannually
JPMorgan Chase Capital XXIII		643		643		2007		2047	2012	LIBOR + 1.00%	Quarterly
JPMorgan Chase Capital XXIV		700		700		2007		2047	2012	6.88%	Quarterly
JPMorgan Chase Capital XXV		1,492		1,844		2007		2037	2037	6.80%	Semiannually
JPMorgan Chase Capital XXVI		1,815		1,815		2008		2048	2013	8.00%	Quarterly
JPMorgan Chase Capital XXVII		995		995		2009		2039	2039	7.00%	Semiannually
JPMorgan Chase Capital XXVIII		1,500		1,500		2009		2039	2014	7.20%	Quarterly
JPMorgan Chase Capital XXIX		1,500		1,500		2010		2040	2015	6.70%	Quarterly
Total	$	19,678	$	20,331

(a)	Represents the amount of trust preferred capital debt securities issued to the public by each trust, including unamortized original issue discount.
(b)	Represents the principal amount of JPMorgan Chase debentures issued to each trust, including unamortized original-issue discount. The principal amount of debentures issued to the trusts includes the impact of hedging and purchase accounting fair value adjustments that were recorded on the Firm’s Consolidated Financial Statements.