Accumulated Other Comprehensive Income/(Loss) (Tables)

9 Months Ended

Sep. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated other comprehensive income/(loss)

AOCI includes the after-tax change in unrealized gains and losses on investment securities, foreign currency translation adjustments (including the impact of related derivatives), fair value changes of excluded components on fair value hedges, cash flow hedging activities, net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans, and fair value option-elected liabilities arising from changes in the Firm’s own credit risk (DVA).

As of or for the three months ended September 30, 2021 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at July 1, 2021	$	4,515			$	(659)	$	(163)		$	725		$	(1,055)		$	(793)		$	2,570
Net change	(434)				(187)		9			(450)			6			(551)			(1,607)
Balance at September 30, 2021	$	4,081	(a)		$	(846)	$	(154)		$	275		$	(1,049)		$	(1,344)		$	963
As of or for the three months ended September 30, 2020 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at July 1, 2020	$	7,920			$	(895)	$	(27)		$	2,762		$	(1,318)		$	347		$	8,789
Net change	514				127		(69)			(70)			(12)			(339)			151
Balance at September 30, 2020	$	8,434	(a)		$	(768)	$	(96)		$	2,692		$	(1,330)		$	8		$	8,940
As of or for the nine months ended September 30, 2021 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at January 1, 2021	$	8,180			$	(473)	$	(112)		$	2,383		$	(1,132)		$	(860)		$	7,986
Net change	(4,099)				(373)		(42)			(2,108)			83			(484)			(7,023)
Balance at September 30, 2021	$	4,081	(a)		$	(846)	$	(154)		$	275		$	(1,049)		$	(1,344)		$	963
As of or for the nine months ended September 30, 2020 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at January 1, 2020	$	4,057			$	(707)	$	(131)		$	63		$	(1,344)		$	(369)		$	1,569
Net change	4,377				(61)		35			2,629			14			377			7,371
Balance at September 30, 2020	$	8,434	(a)		$	(768)	$	(96)		$	2,692		$	(1,330)		$	8		$	8,940

(a)Includes after-tax net unamortized unrealized gains of $2.7 billion related to AFS securities that have been transferred to HTM at both September 30, 2021 and 2020. Refer to Note 10 of JPMorgan Chase's 2020 Form 10-K for further information.

Changes of the components of accumulated other comprehensive income (loss)

The following table presents the pre-tax and after-tax changes in the components of OCI.

	2021						2020
Three months ended September 30, (in millions)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	(826)	$	197	$	(629)	$	1,143	$	(270)	$	873
Reclassification adjustment for realized (gains)/losses included in net income(a)	256		(61)		195		(473)		114		(359)
Net change	(570)		136		(434)		670		(156)		514
Translation adjustments(b):
Translation	(1,030)		63		(967)		871		(86)		785
Hedges	1,028		(248)		780		(868)		210		(658)
Net change	(2)		(185)		(187)		3		124		127
Fair value hedges, net change(c):	12		(3)		9		(91)		22		(69)
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(267)		65		(202)		134		(32)		102
Reclassification adjustment for realized (gains)/losses included in net income(d)	(326)		78		(248)		(227)		55		(172)
Net change	(593)		143		(450)		(93)		23		(70)
Defined benefit pension and OPEB plans, net change:	8		(2)		6		(18)		6		(12)
DVA on fair value option elected liabilities, net change:	(729)		178		(551)		(445)		106		(339)
Total other comprehensive income/(loss)	$	(1,874)	$	267	$	(1,607)	$	26	$	125	$	151
	2021						2020
Nine months ended September 30, (in millions)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	(5,792)	$	1,391	$	(4,401)	$	6,494	$	(1,561)	$	4,933
Reclassification adjustment for realized (gains)/losses included in net income(a)	397		(95)		302		(732)		176		(556)
Net change	(5,395)		1,296		(4,099)		5,762		(1,385)		4,377
Translation adjustments(b):
Translation	(1,950)		92		(1,858)		(316)		15		(301)
Hedges	1,958		(473)		1,485		316		(76)		240
Net change	8		(381)		(373)		—		(61)		(61)
Fair value hedges, net change(c):	(56)		14		(42)		45		(10)		35
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(1,844)		443		(1,401)		3,787		(909)		2,878
Reclassification adjustment for realized (gains)/losses included in net income(d)	(930)		223		(707)		(328)		79		(249)
Net change	(2,774)		666		(2,108)		3,459		(830)		2,629
Defined benefit pension and OPEB plans, net change:	101		(18)		83		23		(9)		14
DVA on fair value option elected liabilities, net change:	(642)		158		(484)		496		(119)		377
Total other comprehensive income/(loss)	$	(8,758)	$	1,735	$	(7,023)	$	9,785	$	(2,414)	$	7,371

(a)The pre-tax amount is reported in Investment securities gains/(losses) in the Consolidated statements of income.

(b)Reclassifications of pre-tax realized gains/(losses) on translation adjustments and related hedges are reported in other income/expense in the Consolidated statements of income. The amounts were not material for the three and nine months ended September 30, 2021 and 2020.

(c)Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross currency swaps.

(d)The pre-tax amounts are primarily recorded in noninterest revenue, net interest income and compensation expense in the Consolidated statements of income.