JP Morgan Chase 2014 Annual Report Download - page 77

JPMorgan Chase & Co./2014 Annual Report 75
Contractual cash obligations
The accompanying table summarizes, by remaining
maturity, JPMorgan Chase’s significant contractual cash
obligations at December 31, 2014. The contractual cash
obligations included in the table below reflect the minimum
contractual obligation under legally enforceable contracts
with terms that are both fixed and determinable. Excluded
from the below table are certain liabilities with variable
cash flows and/or no obligation to return a stated amount
of principal at the maturity.
The carrying amount of on-balance sheet obligations on the
Consolidated balance sheets may differ from the minimum
contractual amount of the obligations reported below. For a
discussion of mortgage repurchase liabilities and other
obligations, see Note 29.
Contractual cash obligations
By remaining maturity at December 31,
(in millions)
2014 2013
2015 2016-2017 2018-2019 After 2019 Total Total
On-balance sheet obligations
Deposits(a) $ 1,345,919 $ 8,200 $ 3,318 $ 4,160 $ 1,361,597 $ 1,286,587
Federal funds purchased and securities loaned or
sold under repurchase agreements 189,002 2,655 30 441 192,128 181,163
Commercial paper 66,344 — — — 66,344 57,848
Other borrowed funds(a) 15,734 — — — 15,734 15,655
Beneficial interests issued by consolidated VIEs(a) 27,833 12,860 6,125 3,382 50,200 47,621
Long-term debt(a) 33,982 86,620 61,468 80,818 262,888 256,739
Other(b) 3,494 1,217 1,022 2,622 8,355 7,720
Total on-balance sheet obligations 1,682,308 111,552 71,963 91,423 1,957,246 1,853,333
Off-balance sheet obligations
Unsettled reverse repurchase and securities
borrowing agreements(c) 40,993 — — — 40,993 38,211
Contractual interest payments(d) 6,980 10,006 6,596 24,456 48,038 48,021
Operating leases(e) 1,722 3,216 2,402 5,101 12,441 14,266
Equity investment commitments(f) 454 92 50 512 1,108 2,119
Contractual purchases and capital expenditures 1,216 970 366 280 2,832 3,425
Obligations under affinity and co-brand programs 906 1,262 96 39 2,303 3,283
Other —————11
Total off-balance sheet obligations 52,271 15,546 9,510 30,388 107,715 109,336
Total contractual cash obligations $ 1,734,579 $ 127,098 $ 81,473 $ 121,811 $ 2,064,961 $ 1,962,669
(a) Excludes structured notes where the Firm is not obligated to return a stated amount of principal at the maturity of the notes, but is obligated to return an
amount based on the performance of the structured notes.
(b) Primarily includes dividends declared on preferred and common stock, deferred annuity contracts, pension and postretirement obligations and insurance
liabilities. Prior periods were revised to conform with the current presentation.
(c) For further information, refer to unsettled reverse repurchase and securities borrowing agreements in Note 29.
(d) Includes accrued interest and future contractual interest obligations. Excludes interest related to structured notes where the Firm’s payment obligation is
based on the performance of certain benchmarks.
(e) 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 $2.2 billion and $2.6 billion at December 31, 2014 and 2013, respectively.
(f) At December 31, 2014 and 2013, included unfunded commitments of $147 million and $215 million, respectively, to third-party private equity funds;
and $961 million and $1.9 billion of unfunded commitments, respectively, to other equity investments.