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: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 23, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenue | |||
| Investment banking fees | $ 9,486 | 7,501 | 7,550 |
| Principal transactions | 18,021 | 14,018 | 12,059 |
| Lending- and deposit-related fees | 6,511 | 6,626 | 6,377 |
| Asset management, administration and commissions | 18,177 [1] | 16,908 | 16,793 |
| Investment securities gains/(losses) | 802 | 258 | (395) |
| Mortgage fees and related income | 3,091 | 2,036 | 1,254 |
| Card income | 4,435 | 5,076 [2] | 4,743 |
| Other income | 4,457 | 5,731 | 5,343 |
| Noninterest revenue | 64,980 | 58,154 | 53,724 |
| Interest income | 64,523 | 84,040 | 76,100 |
| Interest expense | 9,960 | 26,795 | 21,041 |
| Net interest income | 54,563 | 57,245 | 55,059 |
| Total net revenue | 119,543 | 115,399 | 108,783 |
| Provision for credit losses | 17,480 | 5,585 | 4,871 |
| Noninterest expense | |||
| Compensation expense | 34,988 | 34,155 | 33,117 |
| Occupancy expense | 4,449 | 4,322 | 3,952 |
| Technology, communications and equipment expense | 10,338 | 9,821 | 8,802 |
| Professional and outside services | 8,464 | 8,533 | 8,502 |
| Marketing | 2,476 | 3,351 | 3,044 |
| Other expense | 5,941 | 5,087 | 5,731 |
| Total noninterest expense | 66,656 | 65,269 | 63,148 |
| Income before income tax expense | 35,407 | 44,545 | 40,764 |
| Income tax expense | 6,276 | 8,114 | 8,290 |
| Net income | 29,131 | 36,431 | 32,474 |
| Net income applicable to common stockholders | 27,410 | 34,642 | 30,709 |
| Net income per common share data | |||
| Basic earnings per share (in dollars per share) | 8.89 | 10.75 | 9.04 |
| Diluted earnings per share (in dollars per share) | 8.88 | 10.72 | 9.00 |
| Weighted-average basic shares (in shares) | 3,082,400 | 3,221,500 | 3,396,400 |
| Weighted-average diluted shares (in shares) | 3,087,400 | 3,230,400 | 3,414,000 |
| [1] In the first quarter of 2020, the Firm reclassified certain fees from asset management, administration and commissions to lending- and deposit-related fees. Prior-period amounts have been revised to conform with the current presentation. | |||
| [2] In the second quarter of 2020, the Firm reclassified certain spend-based credit card reward costs from marketing expense to be a reduction of card income, with no effect on net income. Prior-period amounts have been revised to conform with the current presentation. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JPMORGAN CHASE & CO | |||
Ticker: AMJ Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 23, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 29,131 | 36,431 | 32,474 |
| Other comprehensive income/(loss), aftertax | |||
| Unrealized gains/(losses) on investment securities | 4,123 | 2,855 | (1,858) |
| Translation adjustments, net of hedges | 234 | 20 | 20 |
| Fair value hedges | 19 | 30 | (107) |
| Cash flow hedges | 2,320 | 172 | (201) |
| Defined benefit pension and OPEB plans | 212 | 964 | (373) |
| DVA on fair value option elected liabilities | (491) | (965) | 1,043 |
| Total other comprehensive income/(loss), aftertax | 6,417 | 3,076 | (1,476) |
| Comprehensive income | 35,548 | 39,507 | 30,998 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JPMORGAN CHASE & CO | |||
Ticker: AMJ Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 23, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating activities | |||
| Net income | $ 29,131 | 36,431 | 32,474 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | |||
| Provision for credit losses | 17,480 | 5,585 | 4,871 |
| Depreciation and amortization | 8,614 | 8,368 | 7,791 |
| Deferred tax expense | (3,981) | 949 | 1,721 |
| Other | 1,649 | 1,996 | 2,717 |
| Originations and purchases of loans held-for-sale | (166,504) | (169,289) | (172,728) |
| Proceeds from sales, securitizations and paydowns of loans held-for-sale | 175,490 | 171,415 | 163,747 |
| Net change in: | |||
| Trading assets | (148,749) | 6,551 | (35,067) |
| Securities borrowed | (20,734) | (27,631) | (6,861) |
| Accrued interest and accounts receivable | (18,012) | (78) | (5,849) |
| Other assets | (42,434) | (17,570) | (8,779) |
| Trading liabilities | 77,198 | (14,516) | 18,290 |
| Accounts payable and other liabilities | 7,827 | (352) | 14,630 |
| Other operating adjustments | 3,115 | 2,233 | (1,343) [1] |
| Net cash provided by/(used in) operating activities | (79,910) | 4,092 | 15,614 |
| Investing activities | |||
| Net change in: | |||
| Federal funds sold and securities purchased under resale agreements | (47,115) | 72,396 | (123,201) |
| Held-to-maturity securities: | |||
| Proceeds from paydowns and maturities | 21,360 | 3,423 | 2,945 |
| Purchases | (12,400) | (13,427) | (9,368) |
| Available-for-sale securities: | |||
| Proceeds from paydowns and maturities | 57,675 | 52,200 | 37,401 |
| Proceeds from sales | 149,758 | 70,181 | 46,067 |
| Purchases | (397,145) | (242,149) | (95,091) |
| Proceeds from sales and securitizations of loans held-for-investment | 23,559 | 62,095 | 29,826 |
| Other changes in loans, net | (50,263) | (51,743) | (83,013) |
| All other investing activities, net | (7,341) | (5,035) | (4,986) |
| Net cash (used in) investing activities | (261,912) | (52,059) | (199,420) |
| Financing activities | |||
| Net change in: | |||
| Deposits | 602,765 | 101,002 | 26,728 |
| Federal funds purchased and securities loaned or sold under repurchase agreements | 31,528 | 1,347 | 23,415 |
| Short-term borrowings | (28,561) | ||
| Short-term borrowings | 4,438 | 18,476 | |
| Beneficial interests issued by consolidated VIEs | 1,347 | 4,289 | 1,712 |
| Proceeds from long-term borrowings | 78,686 | 61,085 | 71,662 |
| Payments of long-term borrowings | (105,055) | (69,610) | (76,313) |
| Proceeds from issuance of preferred stock | 4,500 | 5,000 | 1,696 |
| Redemption of preferred stock | (1,430) | (4,075) | (1,696) |
| Treasury stock repurchased | (6,517) | (24,001) | (19,983) |
| Dividends paid | (12,690) | (12,343) | (10,109) |
| All other financing activities, net | (927) | (1,146) | (1,430) |
| Net cash provided by financing activities | 596,645 | 32,987 | 34,158 |
| Effect of exchange rate changes on cash and due from banks and deposits with banks | 9,155 | (182) | (2,863) |
| Net increase/(decrease) in cash and due from banks and deposits with banks | 263,978 | (15,162) | (152,511) |
| Cash and due from banks and deposits with banks at the beginning of the period | 263,631 | 278,793 | 431,304 |
| Cash and due from banks and deposits with banks at the end of the period | 527,609 | 263,631 | 278,793 |
| Cash interest paid | 13,077 | 29,918 | 21,152 |
| Cash income taxes paid, net | 7,661 | 5,624 | 3,542 |
| [1] In the third quarter of 2020, the Firm reclassified certain fair value option elected lending-related positions from trading assets to loans and other assets. Prior-period amounts have been revised to conform with the current presentation. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
JPMORGAN CHASE & CO | ||
Ticker: AMJ Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 23, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Cash and due from banks | $ 24,874 | 21,704 |
| Deposits with banks | 502,735 | 241,927 |
| Federal funds sold and securities purchased under resale agreements (included $238,015 and $14,561 at fair value) | 296,284 | 249,157 |
| Securities borrowed (included $52,983 and $6,237 at fair value) | 160,635 | 139,758 |
| Trading assets (included assets pledged of $130,645 and $111,522) | 503,126 | 369,687 |
| Available-for-sale securities (amortized cost of $381,729 and $345,306; included assets pledged of $32,227 and $10,325) | 388,178 | 350,699 |
| Held-to-maturity securities (net of allowance for credit losses of $78) | 201,821 | 47,540 |
| Investment securities, net of allowance for credit losses | 589,999 | 398,239 |
| Loans (included $44,474 and $44,955 at fair value) | 1,012,853 | 997,620 |
| Allowance for loan losses | (28,328) | (13,123) |
| Loans, net of allowance for loan losses | 984,525 | 984,497 |
| Accrued interest and accounts receivable | 90,503 | 72,861 |
| Premises and equipment | 27,109 | 25,813 |
| Goodwill, MSRs and other intangible assets | 53,428 | 53,341 |
| Other assets (included $13,827 and $12,676 at fair value and assets pledged of $3,739 and $3,349) | 152,853 [1] | 130,395 |
| Total assets | 3,386,071 [2] | 2,687,379 |
| Liabilities | ||
| Deposits (included $14,484 and $28,589 at fair value) | 2,144,257 | 1,562,431 |
| Federal funds purchased and securities loaned or sold under repurchase agreements (included $155,735 and $549 at fair value) | 215,209 | 183,675 |
| Short-term borrowings (included $16,893 and $5,920 at fair value) | 45,208 | 40,920 |
| Trading liabilities | 170,181 | 119,277 |
| Accounts payable and other liabilities (included $3,476 and $3,728 at fair value) | 232,599 | 210,407 |
| Beneficial interests issued by consolidated VIEs (included $41 and $36 at fair value) | 17,578 | 17,841 |
| Long-term debt (included $76,817 and $75,745 at fair value) | 281,685 | 291,498 |
| Total liabilities | 3,106,717 | 2,426,049 |
| Commitments and contingencies (refer to Notes 28, 29 and 30) | ||
| Stockholders equity | ||
| Preferred stock ($1 par value; authorized 200,000,000 shares: issued 3,006,250 and 2,699,250 shares) | 30,063 | 26,993 |
| Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 4,105 | 4,105 |
| Additional paid-in capital | 88,394 | 88,522 |
| Retained earnings | 236,990 | 223,211 |
| Accumulated other comprehensive income | 7,986 | 1,569 |
| Shares held in restricted stock units (RSU) trust, at cost (zero and 472,953 shares) | 0 | (21) |
| Treasury stock, at cost (1,055,499,435 and 1,020,912,567 shares) | (88,184) | (83,049) |
| Total stockholders equity | 279,354 | 261,330 |
| Total liabilities and stockholders equity | 3,386,071 | 2,687,379 |
| Consolidated Entities | ||
| VIEs consolidated by the Firm | ||
| Trading assets (included assets pledged of $130,645 and $111,522) | 1,934 | 2,633 |
| Loans, net of allowance for loan losses | 37,619 | 42,931 |
| Other assets (included $13,827 and $12,676 at fair value and assets pledged of $3,739 and $3,349) | 681 | 881 |
| Total assets | 40,234 | 46,445 |
| Beneficial interests issued by consolidated VIEs (included $41 and $36 at fair value) | 17,578 | 17,841 |
| All other liabilities | 233 | 447 |
| Total liabilities | 17,811 | 18,288 |
| [1] In the third quarter of 2020, the Firm reclassified certain fair value option elected lending-related positions from trading assets to loans and other assets. Prior-period amounts have been revised to conform with the current presentation. | ||
| [2] The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at December 31, 2020 and 2019. 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. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidat | ||
| External Links | |
| JPMORGAN CHASE & CO (AMJ) Fiscal Year 2020 | |
| 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 |