JP Morgan Chase 2006 Annual Report Download - page 145

JPMorgan Chase & Co. / 2006 Annual Report 143
SUPPLEMENTARY INFORMATION
Selected quarterly financial data (unaudited)
(in millions, except per share, ratio and headcount data) 2006 2005
As of or for the period ended 4th 3rd 2nd 1st 4th 3rd 2nd 1st
Selected income statement data
Noninterest revenue $ 10,362 $ 10,021 $ 9,762 $ 10,050 $ 8,804 $ 9,482 $ 7,616 $ 8,291
Net interest income 5,692 5,379 5,178 4,993 4,678 4,783 4,932 5,162
Total net revenue 16,054 15,400 14,940 15,043 13,482 14,265 12,548 13,453
Provision for credit losses 1,134 812 493 831 1,224 1,245 587 427
Total noninterest expense 9,746 9,651 9,236 9,648 8,430 9,359 10,798 9,839
Income from continuing operations before income tax expense 5,174 4,937 5,211 4,564 3,828 3,661 1,163 3,187
Income tax expense 1,268 1,705 1,727 1,537 1,186 1,192 226 981
Income from continuing operations (after-tax) 3,906 3,232 3,484 3,027 2,642 2,469 937 2,206
Income from discontinued operations (after-tax)(a) 620 65 56 54 56 58 57 58
Net income $ 4,526 $ 3,297 $ 3,540 $ 3,081 $ 2,698 $ 2,527 $ 994 $ 2,264
Per common share
Basic earnings per share
Income from continuing operations $ 1.13 $ 0.93 $ 1.00 $ 0.87 $ 0.76 $ 0.71 $ 0.27 $ 0.63
Net income 1.31 0.95 1.02 0.89 0.78 0.72 0.28 0.64
Diluted earnings per share
Income from continuing operations 1.09 0.90 0.98 0.85 0.74 0.70 0.26 0.62
Net income 1.26 0.92 0.99 0.86 0.76 0.71 0.28 0.63
Cash dividends declared per share 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34
Book value per share 33.45 32.75 31.89 31.19 30.71 30.26 29.95 29.78
Common shares outstanding
Average: Basic 3,465 3,469 3,474 3,473 3,472 3,485 3,493 3,518
Diluted 3,579 3,574 3,572 3,571 3,564 3,548 3,548 3,570
Common shares at period end 3,462 3,468 3,471 3,473 3,487 3,503 3,514 3,525
Selected ratios
Return on common equity (“ROE”)
Income from continuing operations 14% 11% 13% 11% 10% 9% 4% 8%
Net income 16 12 13 12 10 9 4 9
Return on assets (“ROA”)
Income from continuing operations 1.14 0.98 1.05 0.98 0.87 0.82 0.32 0.77
Net income 1.32 1.00 1.06 1.00 0.89 0.84 0.34 0.79
Tier 1 capital ratio 8.7 8.6 8.5 8.5 8.5 8.2 8.2 8.6
Total capital ratio 12.3 12.1 12.0 12.1 12.0 11.3 11.3 11.9
Tier 1 leverage ratio 6.2 6.3 5.8 6.1 6.3 6.2 6.2 6.3
Overhead ratio 61 63 62 64 63 66 86 73
Selected balance sheet data (period-end)
Total assets $ 1,351,520 $ 1,338,029 $1,328,001 $1,273,282 $1,198,942 $1,203,033 $1,171,283 $1,178,305
Securities 91,975 86,548 78,022 67,126 47,600 68,697 58,573 75,251
Loans 483,127 463,544 455,104 432,081 419,148 420504 416,025 402,669
Deposits 638,788 582,115 593,716 584,465 554,991 535,123 534,640 531,379
Long-term debt 133,421 126,619 125,280 112,133 108,357 101,853 101,182 99,329
Total stockholders’ equity 115,790 113,561 110,684 108,337 107,211 106,135 105,385 105,340
Credit quality metrics
Allowance for credit losses $ 7,803 $ 7,524 $ 7,500 $ 7,659 $ 7,490 $ 7,615 $ 7,233 $ 7,423
Nonperforming assets(b) 2,341 2,300 2,384 2,348 2,590 2,839 2,832 2,949
Allowance for loan losses to total loans(c) 1.70% 1.65% 1.69% 1.83% 1.84% 1.86% 1.76% 1.82%
Net charge-offs $ 930 $ 790 $ 654 $ 668 $ 1,360 $ 870 $ 773 $ 816
Net charge-off rate(c) 0.84% 0.74% 0.64% 0.69% 1.39% 0.89% 0.82% 0.88%
Wholesale net charge-off (recovery) rate(c) 0.07 (0.03) (0.05) (0.06) 0.07 (0.12) (0.16) (0.03)
Managed Card net charge-off rate 3.45 3.58 3.28 2.99 6.39 4.70 4.87 4.83
Headcount 174,360 171,589 172,423 170,787 168,847 168,955 168,708 164,381
Share price(d)
High $ 49.00 $ 47.49 $ 46.80 $ 42.43 $ 40.56 $ 35.95 $ 36.50 $ 39.69
Low 45.51 40.40 39.33 37.88 32.92 33.31 33.35 34.32
Close 48.30 46.96 42.00 41.64 39.69 33.93 35.32 34.60
Market capitalization 167,199 162,835 145,764 144,614 138,387 118,871 124,112 121,975
(a) On October 1, 2006, the Firm completed the exchange of selected corporate trust businesses including trustee, paying agent, loan agency and document management services for the consumer, business banking
and middle-market banking businesses of The Bank of New York. The results of operations of these corporate trust businesses are being reported as discontinued operations for each of the periods presented.
(b) Excludes wholesale held-for-sale (“HFS”) loans purchased as part of the Investment Bank’s proprietary activities.
(c) Excluded from the allowance coverage ratios were end-of-period loans held-for-sale; and excluded from the net charge-off rates were average loans held-for-sale.
(d) JPMorgan Chase’s common stock is listed and traded on the New York Stock Exchange, the London Stock Exchange Limited and the Tokyo Stock Exchange. The high, low and closing prices of JPMorgan Chase’s
common stock are from The New York Stock Exchange Composite Transaction Tape.