JP Morgan Chase 2006 Annual Report Download - page 47

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JPMorgan Chase & Co. / 2006 Annual Report 45
The financial information presented below reconciles reported basis and managed basis to disclose the effect of securitizations.
Year ended December 31,
(in millions) 2006 2005 2004(c)
Income statement data(a)
Credit card income
Reported basis for the period $ 6,096 $ 6,069 $ 4,446
Securitization adjustments (3,509) (2,718) (2,267)
Managed credit card income $ 2,587 $ 3,351 $ 2,179
All other income
Reported basis for the period $ 357 $ 212 $ 278
Securitization adjustments —— (86)
Managed All other income $ 357 $ 212 $ 192
Net interest income
Reported basis for the period $ 6,082 $ 5,309 $ 3,123
Securitization adjustments 5,719 6,494 5,251
Managed net interest income $ 11,801 $ 11,803 $ 8,374
Total net revenue
Reported basis for the period $ 12,535 $ 11,590 $ 7,847
Securitization adjustments 2,210 3,776 2,898
Managed Total net revenue $ 14,745 $ 15,366 $ 10,745
Provision for credit losses
Reported data for the period(b) $ 2,388 $ 3,570 $ 1,953
Securitization adjustments 2,210 3,776 2,898
Managed Provision for credit losses(b) $ 4,598 $ 7,346 $ 4,851
Balance sheet – average balances(a)
Total average assets
Reported data for the period $ 82,887 $ 74,753 $ 43,657
Securitization adjustments 65,266 67,180 51,084
Managed average assets $148,153 $ 141,933 $ 94,741
Credit quality statistics(a)
Net charge-offs
Reported net charge-offs data for the period $ 2,488 $ 3,324 $ 1,923
Securitization adjustments 2,210 3,776 2,898
Managed net charge-offs $ 4,698 $ 7,100 $ 4,821
(a) For a discussion of managed basis, see the non-GAAP financial measures discussion on pages 32–33 of this Annual Report.
(b) 2005 includes a $100 million special provision related to Hurricane Katrina, which was released in 2006.
(c) 2004 results include six months of the combined Firm’s results and six months of heritage JPMorgan Chase results.