Leases

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Leases

Leases

Refer to Note 18 of JPMorganChase’s 2025 Form 10-K for a further discussion on leases.

Firm as lessee

At March 31, 2026, JPMorganChase 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)	March 31, 2026		December 31, 2025
Right-of-use assets	$	8,887	$	8,901
Lease liabilities	9,295		9,337

The Firm’s net rental expense was $601 million and $573 million for the three months ended March 31, 2026 and 2025, 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 March 31,
(in millions)	2026		2025
Operating lease income	$	1,153	$	829
Depreciation expense	761		505

Leases

Leases

Refer to Note 18 of JPMorganChase’s 2025 Form 10-K for a further discussion on leases.

Firm as lessee

At March 31, 2026, JPMorganChase 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)	March 31, 2026		December 31, 2025
Right-of-use assets	$	8,887	$	8,901
Lease liabilities	9,295		9,337

The Firm’s net rental expense was $601 million and $573 million for the three months ended March 31, 2026 and 2025, 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 March 31,
(in millions)	2026		2025
Operating lease income	$	1,153	$	829
Depreciation expense	761		505