10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JPMORGAN CHASE & CO | |||
Ticker: AMJ Fiscal Year: 2011 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 29, 2012) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenue | |||
| Investment banking fees | $ 5,911 | 6,190 | 7,087 |
| Principal transactions | 10,005 | 10,894 | 9,796 |
| Lending-and deposit-related fees | 6,458 | 6,340 | 7,045 |
| Asset management, administration and commissions | 14,094 | 13,499 | 12,540 |
| Securities gains | 1,593 [1] | 2,965 | 1,110 |
| Mortgage fees and related income | 2,721 | 3,870 | 3,678 |
| Credit card income | 6,158 | 5,891 | 7,110 |
| Other income | 2,605 | 2,044 | 916 |
| Noninterest revenue | 49,545 | 51,693 | 49,282 |
| Interest income | 61,293 | 63,782 | 66,350 |
| Interest expense | 13,604 | 12,781 | 15,198 |
| Net interest income | 47,689 | 51,001 | 51,152 |
| Total net revenue | 97,234 | 102,694 | 100,434 |
| Provision for credit losses | 7,574 | 16,639 | 32,015 |
| Noninterest expense | |||
| Compensation expense | 29,037 | 28,124 | 26,928 |
| Occupancy expense | 3,895 | 3,681 | 3,666 |
| Technology, communications and equipment expense | 4,947 | 4,684 | 4,624 |
| Professional and outside services | 7,482 | 6,767 | 6,232 |
| Marketing | 3,143 | 2,446 | 1,777 |
| Other expense | 13,559 | 14,558 | 7,594 |
| Amortization of intangibles | 848 | 936 | 1,050 |
| Merger costs | 0 | 0 | 481 |
| Total noninterest expense | 62,911 | 61,196 | 52,352 |
| Income before income tax expense/(benefit) and extraordinary gain | 26,749 | 24,859 | 16,067 |
| Income tax expense | 7,773 | 7,489 | 4,415 |
| Income before extraordinary gain | 18,976 | 17,370 | 11,652 |
| Extraordinary gain | 0 | 0 | 76 |
| Net income | 18,976 | 17,370 | 11,728 |
| Net income applicable to common stockholders | 17,568 | 15,764 | 8,774 |
| Per common share data - Basic earnings per share | |||
| Income before extraordinary gain | 4.50 | 3.98 | 2.25 |
| Net income | 4.50 | 3.98 | 2.27 |
| Per common share data - Diluted earnings per share | |||
| Income before extraordinary gain | 4.48 | 3.96 | 2.24 |
| Net income | 4.48 | 3.96 | 2.26 |
| Weighted-average basic shares | 3,900,400 | 3,956,300 | 3,862,800 |
| Weighted-average diluted shares | 3,920,300 | 3,976,900 | 3,879,700 |
| Cash dividends declared per common share | 1.00 | 0.20 | 0.20 |
| Other-than-temporary impairment losses included in securities gains | |||
| Total other-than-temporary impairment losses | (27) | (94) | (946) |
| Losses recorded in/(reclassified from) other comprehensive income | (49) | (6) | 368 |
| Total credit losses recognized in income | (76) | (100) | (578) |
| [1] The following other-than-temporary impairment losses are included in securities gains for the periods presented. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JPMORGAN CHASE & CO | |||
Ticker: AMJ Fiscal Year: 2011 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 29, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Operating activities | |||
| Net income | $ 18,976 | 17,370 | 11,728 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities | |||
| Provision for credit losses | 7,574 | 16,639 | 32,015 |
| Depreciation and amortization | 4,257 | 4,029 | 3,308 |
| Amortization of intangibles | 848 | 936 | 1,050 |
| Deferred tax expense/(benefit) | 1,693 | (968) | (3,622) |
| Investment securities gains | (1,593) | (2,965) | (1,110) |
| Stock-based compensation | 2,675 | 3,251 | 3,355 |
| Originations and purchases of loans held-for-sale | (52,561) | (37,085) | (22,417) |
| Proceeds from sales, securitizations and paydowns of loans held-for-sale | 54,092 | 40,155 | 33,902 |
| Net change in trading assets | 36,443 | (72,082) | 133,488 |
| Net change in securities borrowed | (18,936) | (3,926) | 4,452 |
| Net change in accrued interest and accounts receivable | 8,655 | 443 | (6,312) |
| Net change in other assets | (15,456) | (12,452) | 32,557 |
| Net change in trading liabilities | 7,905 | 19,344 | (79,314) |
| Net change in accounts payable and other liabilities | 35,203 | 17,325 | (26,450) |
| Other operating adjustments | 6,157 | 6,234 | 6,167 |
| Net cash provided by/(used in) operating activities | 95,932 | (3,752) | 122,797 |
| Investing activities | |||
| Net change in deposits with banks | (63,592) | 41,625 | 74,829 |
| Net change in federal funds sold and securities purchased under resale agreements | (12,490) | (26,957) | 7,082 |
| Held-to-maturity securities: | |||
| Proceeds | 6 | 7 | 9 |
| Available-for-sale securities: | |||
| Proceeds from maturities | 86,850 | 92,740 | 87,712 |
| Proceeds from sales | 68,631 | 118,600 | 114,041 |
| Purchases | (202,309) | (179,487) | (346,372) |
| Proceeds from sales and securitizations of loans held-for-investment | 10,478 | 9,476 | 31,034 |
| Other changes in loans, net | (58,365) | 3,022 | 50,651 |
| Net cash received from/(used in) business acquisitions or dispositions | 102 | (4,910) | (97) |
| Net maturities of asset-backed commercial paper guaranteed by the FRBB | 0 | 0 | 11,228 |
| All other investing activities, net | (63) | (114) | (762) |
| Net cash (used in)/provided by investing activities | (170,752) | 54,002 | 29,355 |
| Financing activities | |||
| Net change in deposits | 203,420 | (9,637) | (107,700) |
| Net change in federal funds purchased and securities loaned or sold under repurchase agreements | (63,116) | 15,202 | 67,785 |
| Net change in commercial paper and other borrowed funds | 7,230 | (6,869) | (67,198) |
| Net change in beneficial interests issued by consolidated variable interest entities | 1,165 | 2,426 | (4,076) |
| Proceeds from long-term borrowings and trust preferred capital debt securities | 54,844 | 55,181 | 51,324 |
| Payments of long-term borrowings and trust preferred capital debt securities | (82,078) | (99,043) | (68,441) |
| Excess tax benefits related to stock-based compensation | 867 | 26 | 17 |
| Redemption of preferred stock issued to the U.S. Treasury | 0 | 0 | (25,000) |
| Redemption of other preferred stock | 0 | (352) | 0 |
| Proceeds from issuance of common stock | 0 | 0 | 5,756 |
| Treasury stock and warrants purchased | (8,863) | (2,999) | 0 |
| Dividends paid | (3,895) | (1,486) | (3,422) |
| All other financing activities, net | (1,868) | (1,666) | (2,124) |
| Net cash provided by/(used in) financing activities | 107,706 | (49,217) | (153,079) |
| Effect of exchange rate changes on cash and due from banks | (851) | 328 | 238 |
| Net increase/(decrease) in cash and due from banks | 32,035 | 1,361 | (689) |
| Cash and due from banks at the beginning of the period | 27,567 | 26,206 | |
| Cash and due from banks at the end of the period | 59,602 | 27,567 | 26,206 |
| Cash interest paid | 13,725 | 12,404 | 16,875 |
| Cash income taxes paid, net | 8,153 | 9,747 | 5,434 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
JPMORGAN CHASE & CO | ||
Ticker: AMJ Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 29, 2012) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets | ||
| Cash and due from banks | $ 59,602 | 27,567 |
| Deposits with banks | 85,279 | 21,673 |
| Federal funds sold and securities purchased under resale agreements (included $24,891 and $20,299 at fair value) | 235,314 | 222,554 |
| Securities borrowed (included $15,308 and $13,961 at fair value) | 142,462 | 123,587 |
| Trading assets (included assets pledged of $89,856 and $73,056) | 443,963 | 489,892 |
| Securities (included $364,781 and $316,318 at fair value and assets pledged of $94,691 and $86,891) | 364,793 | 316,336 |
| Loans (included $2,097 and $1,976 at fair value) | 723,720 | 692,927 |
| Allowance for loan losses | (27,609) | (32,266) |
| Loans, net of allowance for loan losses | 696,111 | 660,661 |
| Accrued interest and accounts receivable | 61,478 | 70,147 |
| Premises and equipment | 14,041 | 13,355 |
| Goodwill | 48,188 | 48,854 |
| Mortgage servicing rights | 7,223 | 13,649 |
| Other intangible assets | 3,207 | 4,039 |
| Other assets (included $16,499 and $18,201 at fair value and assets pledged of $1,316 and $1,485) | 104,131 | 105,291 |
| Total assets | 2,265,792 | 2,117,605 [1] |
| Liabilities | ||
| Deposits (included $4,933 and $4,369 at fair value) | 1,127,806 | 930,369 |
| Federal funds purchased and securities loaned or sold under repurchase agreements (included $9,517 and $4,060 at fair value) | 213,532 | 276,644 |
| Commercial paper | 51,631 | 35,363 |
| Other borrowed funds (included $9,576 and $9,931 at fair value) | 21,908 | 34,325 |
| Trading liabilities | 141,695 | 146,166 |
| Accounts payable and other liabilities (included $51 and $236 at fair value) | 202,895 | 170,330 |
| Beneficial interests issued by consolidated variable interest entities (included $1,250 and $1,495 at fair value) | 65,977 | 77,649 |
| Long-term debt (included $34,720 and $38,839 at fair value) | 256,775 | 270,653 |
| Total liabilities | 2,082,219 | 1,941,499 |
| Stockholders' equity | ||
| Preferred stock ($1 par value; authorized 200,000,000 shares: issued 780,000 shares) | 7,800 | 7,800 |
| Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | 4,105 |
| Capital surplus | 95,602 | 97,415 |
| Retained earnings | 88,315 | 73,998 |
| Accumulated other comprehensive income/(loss) | 944 | 1,001 |
| Shares held in RSU Trust, at cost (852,906 and 1,192,712 shares | (38) | (53) |
| Treasury stock, at cost (332,243,180 and 194,639,785 shares) | (13,155) | (8,160) |
| Total stockholders' equity | 183,573 | 176,106 |
| Total liabilities and stockholders' equity | 2,265,792 | 2,117,605 |
| Limited program-wide credit enhancement | 3,100 | 2,000 |
| Legal Entity | ||
| Assets and liabilities related to VIEs that are consolidated by the Firm | ||
| Trading assets (included assets pledged of $89,856 and $73,056) | 12,079 | 9,837 |
| Loans (included $2,097 and $1,976 at fair value) | 86,754 | 95,587 [2] |
| Other assets (included $16,499 and $18,201 at fair value and assets pledged of $1,316 and $1,485) | 2,638 | 3,494 |
| Total assets | 101,471 | 108,918 |
| Beneficial interests issued by consolidated variable interest entities (included $1,250 and $1,495 at fair value) | 65,977 | 77,649 |
| Other liabilities | 1,487 | 1,922 |
| Total liabilities | 67,464 | 79,571 |
| [2] The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit of JPMorgan Chase. At December 31, 2011 and 2010, the Firm provided limited program-wide credit enhancement of $3.1 billion and $2.0 billion, respectively, related to its Firm-administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 16 on pages 256267 of this Annual Report. | ||
| [1] The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at December 31, 2011 and 2010. The difference between total VIE assets and liabilities represents the Firms interests in those entities, which were eliminated in consolidation. | ||
| External Links | |
| JPMORGAN CHASE & CO (AMJ) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |