JP Morgan Chase 2008 Annual Report Download - page 133

Consolidated balance sheets
JPMorgan Chase & Co./ 2008 Annual Report 131
December 31, (in millions, except share data) 2008 2007
Assets
Cash and due from banks $ 26,895 $ 40,144
Deposits with banks 138,139 11,466
Federal funds sold and securities purchased under resale agreements (included $20,843 and $19,131 at fair value
at December 31, 2008 and 2007, respectively) 203,115 170,897
Securities borrowed (included $3,381 and zero at fair value at December 31, 2008 and 2007, respectively) 124,000 84,184
Trading assets (included assets pledged of $75,063 and $79,229 at December 31, 2008 and 2007, respectively) 509,983 491,409
Securities (included $205,909 and $85,406 at fair value at December 31, 2008 and 2007, respectively,
and assets pledged of $25,942 and $3,958 at December 31, 2008 and 2007, respectively) 205,943 85,450
Loans (included $7,696 and $8,739 at fair value at December 31, 2008 and 2007, respectively) 744,898 519,374
Allowance for loan losses (23,164) (9,234)
Loans, net of allowance for loan losses 721,734 510,140
Accrued interest and accounts receivable 60,987 24,823
Premises and equipment 10,045 9,319
Goodwill 48,027 45,270
Other intangible assets:
Mortgage servicing rights 9,403 8,632
Purchased credit card relationships 1,649 2,303
All other intangibles 3,932 3,796
Other assets (included $29,199 and $22,151 at fair value at December 31, 2008 and 2007, respectively) 111,200 74,314
Total assets $ 2,175,052 $1,562,147
Liabilities
Deposits (included $5,605 and $6,389 at fair value at December 31, 2008 and 2007, respectively) $ 1,009,277 $ 740,728
Federal funds purchased and securities loaned or sold under repurchase agreements (included $2,993 and $5,768 at
fair value at December 31, 2008 and 2007, respectively) 192,546 154,398
Commercial paper 37,845 49,596
Other borrowed funds (included $14,713 and $10,777 at fair value at December 31, 2008 and 2007, respectively) 132,400 28,835
Trading liabilities 166,878 157,867
Accounts payable and other liabilities (including the allowance for lending-related
commitments of $659 and $850 at December 31, 2008 and 2007, respectively, and zero and $25 at fair value at
December 31, 2008 and 2007, respectively) 187,978 94,476
Beneficial interests issued by consolidated variable interest entities (included $1,735 and $3,004 at fair value at
December 31, 2008 and 2007, respectively) 10,561 14,016
Long-term debt (included $58,214 and $70,456 at fair value at December 31, 2008 and 2007, respectively) 252,094 183,862
Junior subordinated deferrable interest debentures held by trusts that issued guaranteed capital debt securities 18,589 15,148
Total liabilities 2,008,168 1,438,926
Commitments and contingencies (see Note 31 on page 213 of this Annual Report)
Stockholders’ equity
Preferred stock ($1 par value; authorized 200,000,000 shares at December 31, 2008 and 2007; issued
5,038,107 and 0 shares at December 31, 2008 and 2007, respectively) 31,939 —
Common stock ($1 par value; authorized 9,000,000,000 shares at December 31, 2008 and 2007;
issued 3,941,633,895 shares and 3,657,671,234 shares at December 31, 2008 and 2007, respectively) 3,942 3,658
Capital surplus 92,143 78,597
Retained earnings 54,013 54,715
Accumulated other comprehensive income (loss) (5,687) (917)
Shares held in RSU Trust, at cost (4,794,723 shares at December 31, 2008) (217) —
Treasury stock, at cost (208,833,260 shares and 290,288,540 shares at December 31, 2008 and 2007, respectively) (9,249) (12,832)
Total stockholders’ equity 166,884 123,221
Total liabilities and stockholders’ equity $ 2,175,052 $1,562,147
The Notes to Consolidated Financial Statements are an integral part of these statements.