JP Morgan Chase 2003 Annual Report Download - page 52

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M anagement’s discussion and analysis
J.P. M organ Chase & Co.
50 J.P. Morgan Chase & Co. / 2003 Annual Report
Off –balance sheet lending-relat ed
financial instruments Under 1–3 4–5 After
By remaining maturity at December 31, 2003 (in millions)
1 year years years 5 years Tot al
Consumer-related $ 151,931 $ 504 $ 620 $ 23,868 $176,923
Commercial-related:
Other unfunded commitments to extend credit (a)(b) 92,840 54,797 23,573 5,012 176,222
Standby letters of credit and guarantees(a) 17,236 12,225 4,451 1,420 35,332
Other letters of credit(a) 1,613 458 2,094 39 4,204
Total commercial-related 111,689 67,480 30,118 6,471 215,758
Total lending-relat ed com mitment s $263,620 $ 67,984 $ 30,738 $ 30,339 $392,681
Cont ract ual cash obligat ions
By remaining maturity at December 31, 2003 (in millions)
Long-term debt $ 6,633 $ 15,187 $ 12,548 $13,646 $48,014
Trust preferred capital securities — — — 6,768 6,768
FIN 46 long-term beneficial interests(c) 17 726 34 1,652 2,429
Operating leases(d) 805 1,467 1,189 4,772 8,233
Contractual purchases and capital expenditures 11,920 298 120 69 12,407
Other liabilities(e) 428 163 286 4,069(f) 4,946
Total $19,803 $ 17,841 $ 14,177 $ 30,976 $82,797
(a) Net of risk participations totaling $16.5 billion at December 31, 2003.
(b) Includes unused advised lines of credit totaling $19 billion at December 31, 2003, w hich are not legally binding. In regulatory filings with the Federal Reserve Board, unused advised lines are not
reportable.
(c) Included on the Consolidated balance sheet in Beneficial interests issued by consolidated variable interest entities.
(d) Excludes benefit of noncancelable sublease rentals of $283 million at December 31, 2003.
(e) Includes deferred annuity contracts and expected funding for pension and other postretirement benefits for 2004. Funding requirements for pension and postretirement benefits after 2004 are
excluded due to the significant variability in the assumptions required to project the timing of future cash payments.
(f) Certain deferred compensation obligations amounting to $3.5 billion are reported in the “After 5 years” column because the actual payment date cannot be specifically determined due to the
significant variability in the assumptions required to project the timing of future cash payments.