JP Morgan Chase 2009 Annual Report Download - page 91

JPMorgan Chase & Co./2009 Annual Report
89
The following table presents maturity information for off-balance sheet lending-related financial instruments, guarantees and other commitments.
Off–balance sheet lending-related financial instruments, guarantees and other commitments
By remaining maturity at December 31, (in millions) 2009 2008
2010 2011-2012 2013-2014 After 2014 Total Total
Lending-related
Consumer:
Home equity — senior lien
$ 293 $ 1,650 $ 5,603 $ 11,700 $ 19,246 $ 27,998
Home equity — junior lien 647
3,998 12,050 20,536 37,231 67,745
Prime mortgage 1,654 — — — 1,654 5,079
Subprime mortgage — — — — — —
Option ARMs — — — — — —
Auto loans 5,380 84 3 — 5,467 4,726
Credit card 569,113 — — — 569,113 623,702
All other loans 9,907 207 109 1,006 11,229 12,257
Total consumer 586,994
5,939 17,765 33,242 643,940 741,507
Wholesale:
Other unfunded commitments to extend credit(a) 71,855 94,977 20,728 4,585 192,145 189,563
Asset purchase agreements 8,659
11,134 2,755 137 22,685 53,729
Standby letters of credit and financial guarantees(a)(b)(c)
25,568 47,203 16,349 2,365 91,485 95,352
Unused advised lines of credit 31,826 3,569 62 216 35,673 36,300
Other letters of credit(a)(b) 3,713 1,183 255 16 5,167 4,927
Total wholesale 141,621 158,066 40,149 7,319 347,155 379,871
Total lending-related $ 728,615 $ 164,005 $ 57,914 $ 40,561 $ 991,095 $ 1,121,378
Other guarantees
Securities lending guarantees(d) $ 170,777 $ — $ — $ — $ 170,777
$ 169,281
Residual value guarantees 670 1 1 — 672 670
Derivatives qualifying as guarantees(e) 20,310 18,608 8,759 39,514 87,191 83,835
Contractual cash obligations
By remaining maturity at December 31, (in millions)
Time deposits $ 211,377 $ 14,479 $ 4,865 $ 938 $ 231,659 $ 299,101
Advances from the Federal Home Loan Banks 23,597 2,583 741 926 27,847 70,187
Long-term debt 37,075 95,915 42,805 90,523 266,318 270,683
Long-term beneficial interests(f) 3,957 2,515 407 3,559 10,438 10,561
Operating leases(g) 1,652 3,179 2,857 8,264 15,952 16,868
Equity investment commitments(h) 1,477 2 — 895 2,374 2,424
Contractual purchases and capital expenditures 2,005 862 419 488 3,774 2,687
Obligations under affinity and co-brand programs 1,091 2,144 1,604 2,059 6,898 8,138
Other liabilities(i) 906 891 873 2,690 5,360 5,005
Total $ 283,137 $ 122,570 $ 54,571 $ 110,342 $ 570,620 $ 685,654
(a) Represents the contractual amount net of risk participations totaling $24.6 billion and $26.4 billion for standby letters of credit and other financial guarantees at
December 31, 2009 and 2008, respectively, $690 million and $1.1 billion for other letters of credit at December 31, 2009 and 2008, respectively, and $643 million and
$789 million for other unfunded commitments to extend credit at December 31, 2009 and 2008, respectively. In regulatory filings with the Federal Reserve Board these
commitments are shown gross of risk participations.
(b) JPMorgan Chase held collateral relating to $31.5 billion and $31.0 billion of standby letters of credit, respectively, and $1.3 billion and $1.0 billion of other letters of
credit at December 31, 2009 and 2008, respectively.
(c) Includes unissued standby letters-of-credit commitments of $38.4 billion and $39.5 billion at December 31, 2009 and 2008, respectively.
(d) Collateral held by the Firm in support of securities lending indemnification agreements was $173.2 billion and $170.1 billion at December 31, 2009 and 2008, respectively.
Securities lending collateral comprises primarily cash, and securities issued by governments that are members of the Organisation for Economic Co-operation and Development
(“OECD”) and U.S. government agencies.
(e) Represents notional amounts of derivatives qualifying as guarantees. For further discussion of guarantees, see Note 5 on pages 175–183 and Note 31 on pages 238–
242 of this Annual Report.
(f) Included on the Consolidated Balance Sheets in beneficial interests issued by consolidated variable interest entities.
(g) Includes noncancelable operating leases for premises and equipment used primarily for banking purposes and for energy-related tolling service agreements. Excludes
the benefit of noncancelable sublease rentals of $1.8 billion and $2.3 billion at December 31, 2009 and 2008, respectively.
(h) Includes unfunded commitments to third-party private equity funds of $1.5 billion and $1.4 billion at December 31, 2009 and 2008, respectively. Also includes un-
funded commitments for other equity investments of $897 million and $1.0 billion at December 31, 2009 and 2008, respectively. These commitments include $1.5 bil-
lion at December 31, 2009, related to investments that are generally fair valued at net asset value as discussed in Note 3 on pages 156---173 of this Annual Report.
(i) Includes deferred annuity contracts. Excluded contributions to the U.S. pension and other postretirement benefits plans, as these contributions are not reasonably
estimable at this time. Also excluded are unrecognized tax benefits of $6.6 billion and $5.9 billion at December 31, 2009 and 2008, respectively, as the timing and
amount of future cash payments are not determinable at this time.