Business Segments (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment results and reconciliation

The following table provides a summary of the Firm’s segment results as of or for the three and six months ended June 30, 2022 and 2021, 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 JPMorgan Chase’s 2021 Form 10-K for additional information on the Firm’s managed basis.

Capital allocation

The amount of capital assigned to each business segment is referred to as equity. Periodically, the assumptions and methodologies used to allocate capital are reassessed and as a result, the capital allocated to the LOBs may change. Refer to Line of business equity on page 93 of JPMorgan Chase’s 2021 Form 10-K for additional information on capital allocation.

Segment results and reconciliation(a)
As of or for the three months ended June 30, (in millions, except ratios)	Consumer & Community Banking							Corporate & Investment Bank							Commercial Banking							Asset & Wealth Management
	2022			2021				2022			2021				2022			2021				2022			2021
Noninterest revenue	$	3,906		$	4,726			$	8,749		$	9,912			$	904		$	950			$	3,084		$	3,165
Net interest income	8,708			8,034				3,198			3,302				1,779			1,533				1,222			942
Total net revenue	12,614			12,760				11,947			13,214				2,683			2,483				4,306			4,107
Provision for credit losses	761			(1,868)				59			(79)				209			(377)				44			(10)
Noninterest expense	7,723			7,062				6,745			6,523				1,156			981				2,919			2,586
Income/(loss) before income tax expense/(benefit)	4,130			7,566				5,143			6,770				1,318			1,879				1,343			1,531
Income tax expense/(benefit)	1,030			1,921			(b)	1,418			1,750			(b)	324			457			(b)	339			375			(b)
Net income/(loss)	$	3,100		$	5,645		(b)	$	3,725		$	5,020		(b)	$	994		$	1,422		(b)	$	1,004		$	1,156		(b)
Average equity	$	50,000		$	50,000			$	103,000		$	83,000			$	25,000		$	24,000			$	17,000		$	14,000
Total assets	500,219			494,305				1,403,558			1,363,992				242,456			226,022				235,553			217,284
ROE	24		%	44		%		14		%	23		%		15		%	23		%		23		%	32		%
Overhead ratio	61			55				56			49				43			40				68			63

As of or for the three months ended June 30, (in millions, except ratios)	Corporate					Reconciling Items(a)				Total
	2022		2021			2022		2021		2022			2021
Noninterest revenue	$	(244)	$	(208)		$	(812)	$	(807)	$	15,587		$	17,738
Net interest income	324		(961)			(103)		(109)		15,128			12,741
Total net revenue	80		(1,169)			(915)		(916)		30,715			30,479
Provision for credit losses	28		49			—		—		1,101			(2,285)
Noninterest expense	206		515			—		—		18,749			17,667
Income/(loss) before income tax expense/(benefit)	(154)		(1,733)			(915)		(916)		10,865			15,097
Income tax expense/(benefit)	20		(438)		(b)	(915)		(916)		2,216			3,149
Net income/(loss)	$	(174)	$	(1,295)	(b)	$	—	$	—	$	8,649		$	11,948
Average equity	$	52,986	$	79,849		$	—	$	—	$	247,986		$	250,849
Total assets	1,459,528		1,382,653			NA		NA		3,841,314			3,684,256
ROE	NM		NM			NM		NM		13		%	18		%
Overhead ratio	NM		NM			NM		NM		61			58

(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)In the first quarter of 2022, the Firm changed its methodology for allocating income taxes to the LOBs, with no impact to Firmwide net income. Prior-period amounts have been revised to conform with the current presentation.

Segment results and reconciliation(a)
As of or for the six months ended June 30, (in millions, except ratios)	Consumer & Community Banking							Corporate & Investment Bank							Commercial Banking							Asset & Wealth Management
	2022			2021				2022			2021				2022			2021				2022			2021
Noninterest revenue	$	7,808		$	9,314			$	18,706		$	21,000			$	1,771		$	1,867			$	6,323		$	6,311
Net interest income	17,035			15,963				6,770			6,819				3,310			3,009				2,298			1,873
Total net revenue	24,843			25,277				25,476			27,819				5,081			4,876				8,621			8,184
Provision for credit losses	1,439			(5,470)				504			(410)				366			(495)				198			(131)
Noninterest expense	15,443			14,264				14,043			13,627				2,285			1,950				5,779			5,160
Income/(loss) before income tax expense/(benefit)	7,961			16,483				10,929			14,602				2,430			3,421				2,644			3,155
Income tax expense/(benefit)	1,966			4,051			(b)	2,819			3,658			(b)	586			818			(b)	632			739			(b)
Net income/(loss)	$	5,995		$	12,432		(b)	$	8,110		$	10,944		(b)	$	1,844		$	2,603		(b)	$	2,012		$	2,416		(b)
Average equity	$	50,000		$	50,000			$	103,000		$	83,000			$	25,000		$	24,000			$	17,000		$	14,000
Total assets	500,219			494,305				1,403,558			1,363,992				242,456			226,022				235,553			217,284
ROE	23		%	49		%		15		%	26		%	(b)	14		%	21		%		23		%	34		%
Overhead ratio	62			56				55			49				45			40				67			63

As of or for the six months ended June 30, (in millions, except ratios)	Corporate					Reconciling Items(a)				Total
	2022		2021			2022		2021		2022			2021
Noninterest revenue	$	(589)	$	174		$	(1,587)	$	(1,551)	$	32,432		$	37,115
Net interest income	(212)		(1,816)			(201)		(218)		29,000			25,630
Total net revenue	(801)		(1,642)			(1,788)		(1,769)		61,432			62,745
Provision for credit losses	57		65			—		—		2,564			(6,441)
Noninterest expense	390		1,391			—		—		37,940			36,392
Income/(loss) before income tax expense/(benefit)	(1,248)		(3,098)			(1,788)		(1,769)		20,928			32,794
Income tax expense/(benefit)	(218)		(951)		(b)	(1,788)		(1,769)		3,997			6,546
Net income/(loss)	$	(1,030)	$	(2,147)	(b)	$	—	$	—	$	16,931		$	26,248
Average equity	$	55,234	$	77,209		$	—	$	—	$	250,234		$	248,209
Total assets	1,459,528		1,382,653			NA		NA		3,841,314			3,684,256
ROE	NM		NM			NM		NM		13		%	21		%
Overhead ratio	NM		NM			NM		NM		62			58

(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)In the first quarter of 2022, the Firm changed its methodology for allocating income taxes to the LOBs, with no impact to Firmwide net income. Prior-period amounts have been revised to conform with the current presentation.