Business Segments & Corporate (Tables)

3 Months Ended

Mar. 31, 2026

The following table provides a summary of the Firm’s segment results as of or for the three months ended March 31, 2026 and 2025, 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 JPMorganChase’s 2025 Form 10-K for additional information on the Firm’s managed basis.


Segment & Corporate results and reconciliation(a)
As of or for the three months ended March 31, (in millions, except ratios)	Consumer & Community Banking							Commercial & Investment Bank							Asset & Wealth Management
	2026			2025				2026			2025				2026			2025
Noninterest revenue	$	4,830		$	4,171			$	15,390		$	13,822			$	4,648		$	3,993
Net interest income	14,738			14,142				7,989			5,844				1,726			1,738
Total net revenue	19,568			18,313				23,379			19,666				6,374			5,731
Provision for credit losses	2,050			2,629				482			705				(24)			(10)
Compensation expense(b)	4,622			4,375			(e)	5,740			5,127			(e)	2,339			2,067			(e)
Noncompensation expense(c)(d)	6,357			5,482			(e)	5,396			4,715			(e)	1,828			1,646			(e)
Total noninterest expense	10,979			9,857				11,136			9,842				4,167			3,713
Income/(loss) before income tax expense/(benefit)	6,539			5,827				11,761			9,119				2,231			2,028
Income tax expense/(benefit)	1,563			1,402				2,717			2,177				456			445
Net income	$	4,976		$	4,425			$	9,044		$	6,942			$	1,775		$	1,583
Average equity	$	61,500		$	56,000			$	166,500		$	149,500			$	16,000		$	16,000
Total assets	656,051			636,105				2,626,846			2,174,123				299,179			258,354
ROE	32		%	31		%		21		%	18		%		44		%	39		%
Overhead ratio	56			54				48			50				65			65


As of or for the three months ended March 31, (in millions, except ratios)	Corporate					Reconciling Items(a)				Total
	2026		2025			2026		2025		2026			2025
Noninterest revenue	$	189	$	653		$	(587)	$	(602)	$	24,470		$	22,037
Net interest income	1,026		1,651			(113)		(102)		25,366			23,273
Total net revenue	1,215		2,304			(700)		(704)		49,836			45,310
Provision for credit losses	(1)		(19)			—		—		2,507			3,305
Total noninterest expense(d)	568		185		(e)	—		—		26,850			23,597
Income/(loss) before income tax expense/(benefit)	648		2,138			(700)		(704)		20,479			18,408
Income tax expense/(benefit)	(51)		445			(700)		(704)		3,985			3,765
Net income	$	699	$	1,693		$	—	$	—	$	16,494		$	14,643
Average equity	$	97,050	$	102,845		NA		NA		$	341,050		$	324,345
Total assets	1,318,399		1,289,274			NA		NA		4,900,475			4,357,856
ROE	NM		NM			NM		NM		19		%	18		%
Overhead ratio	NM		NM			NM		NM		54			52

(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)Excludes expense related to services provided by Corporate support units, which is recorded in and allocated from Corporate to each respective reportable business segment, as applicable, through noncompensation expense.

(c)Reflects occupancy; technology, communications and equipment; professional and outside services; marketing; and other expense. Refer to Note 5 for additional information on other expense.

(d)Certain services are provided by Corporate and used by each of the reportable business segments. The costs of these services, including compensation expense, are recorded in and allocated from Corporate to the respective reportable business segments, with the allocations recorded in noncompensation expense. Compensation expense allocated from Corporate to CCB was $814 million and $789 million, to CIB was $1.2 billion each, and to AWM was $300 million and $269 million for the three months ended March 31, 2026 and 2025, respectively.

(e)In the first quarter of 2026, Risk functions that were previously aligned with the LOBs were centralized into Corporate. As a result, the employees and compensation expense related to those functions are now reflected in Corporate, and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.