JP Morgan Chase 2003 Annual Report Download - page 129

J.P. Morgan Chase & Co. / 2003 Annual Report 127
(table continued from previous page)
Corporate/
JPMorgan Partners Chase Financial Services reconciling items(a) Total
2003 2002 2001 2003 2002 2001 2003 2002 2001 2003 2002 2001
$(264) $(302) $ (302) $9,620 $ 8,225 $ 6,765 $(522) $(416) $ (446) $12,797 $ 11,819 $ 10,846
70 (658) (1,151) 5,000 5,198 4,072 (132) (112) (146) 22,227 19,160 19,511
—(2) (1) 213 (2) 100 64 46 102 74 35
4(14) (9) 10 (10) (7) (72) (162) (165) —— —
(190) (976) (1,463) 14,632 13,426 10,828 (626) (626) (711) 35,126 31,053 30,392
275 299 294 7,264 6,578 5,693 34 (73) 185 21,688 20,156 20,488
(465) (1,275) (1,757) 7,368 6,848 5,135 (660) (553) (896) 13,438 10,897 9,904
—— —3,431 3,159 2,874 124 132 153 3,410 5,770 4,230
—— — —— — —— — —— —
(465) (1,275) (1,757) 3,937 3,689 2,261 (784) (685) (1,049) 10,028 5,127 5,674
(172) (467) (641) 1,442 1,369 847 (828) (372) (745) 3,309 1,743 1,872
(293) (808) (1,116) 2,495 2,320 1,414 44 (313) (304) 6,719 3,384 3,802
NA (1,721) (1,715) NA (1,721) (1,715)
NA NA (393) NA NA (393)
$(293) $(808) $(1,116) $2,495 $ 2,320 $ 1,414 $44 $(2,034) $ (2,412) $6,719 $ 1,663 $ 1,694
$5,789 $ 6,293 $ 7,557 $8,750 $ 8,612 $ 7,733 $1,150 $(1,783) $ (2,692) $42,988 $ 41,368 $ 41,524
8,818 9,677 11,698 215,216 179,635 162,980 20,737 21,591 13,146 808,343 759,876 753,948
(1,169) (1,759) (2,262) 1,434 1,276 475 78 88 245 1,509 (1,631) (1,247)
NM NM NM 28% 27% 18% NM NM NM 16% 8% 9%
NM NM NM 50 49 53 NM NM NM 62 65 67
expected components of the Allow ance for credit losses. The
residual component of the Allowance for credit losses, available
for losses in any business segment, is maintained at the corpo-
rate level.
A summary of the business segment results is show n in the
following table. The Corporate/reconciling items column reflects
revenue and expense excluded from the determination of the
segments’ operating earnings. This column includes the
accounting effects remaining at the corporate level after the
application of management accounting policies, including
income tax expenses (the difference betw een the amounts allo-
cated to business units and JPM organ Chase’s consolidated
income tax expense).
For a further discussion concerning JPM organ Chase’s business
segments, see Segment results in the M D&A on pages 27-44 of
this Annual Report. Additionally, financial information relating to
JPM organ Chase’s operations by geographic area is provided in
Note 32 on page 124 of this Annual Report.
The tables below present reconciliations of the combined segment information included in the preceding table to JPM organ Chase’s
reported revenue and net income as included in the Consolidated statement of income on page 82 of this Annual Report.
Year ended December 31, (in millions) 2003 2002 2001
Segm ent s’ operat ing earnings $ 6,675 $3,697 $ 4,106
Corporate/ reconciling items 44 (313) (304)
Consolidat ed operat ing earnings 6,719 3,384 3,802
Merger and restructuring costs
and special items(a) NA (1,721) (1,715)
Pre-SFAS 142 goodwill amortization(a) NA NA (393)
Consolidat ed net income $ 6,719 $1,663 $ 1,694
(a) Represents the after-tax amounts.
Year ended December 31, (in millions) 2003 2002 2001
Segm ent s’ operat ing revenue $ 35,752 $31,679 $ 31,103
Corporate/ reconciling items (626) (626) (711)
Consolidat ed operat ing revenue 35,126 31,053 30,392
Impact of securitizations (1,870) (1,439) (1,048)
Consolidat ed revenue $ 33,256 $29,614 $ 29,344