JP Morgan Chase 2010 Annual Report Download - page 161

Consolidated balance sheets
JPMorgan Chase & Co./2010 Annual Report
161
December 31, (in millions, except share data) 2010 2009
Assets
Cash and due from banks $ 27,567 $ 26,206
Deposits with banks 21,673 63,230
Federal funds sold and securities purchased under resale agreements (included $20,299 and $20,536 at fair value) 222,554 195,404
Securities borrowed (included $13,961 and $7,032 at fair value) 123,587 119,630
Trading assets (included assets pledged of $73,056 and $38,315) 489,892 411,128
Securities (included $316,318 and $360,365 at fair value and assets pledged of $86,891 and $140,631) 316,336 360,390
Loans (included $1,976 and $1,364 at fair value) 692,927 633,458
Allowance for loan losses (32,266) (31,602 )
Loans, net of allowance for loan losses 660,661 601,856
Accrued interest and accounts receivable (included zero and $5,012 at fair value) 70,147 67,427
Premises and equipment 13,355 11,118
Goodwill 48,854 48,357
Mortgage servicing rights 13,649 15,531
Other intangible assets 4,039 4,621
Other assets (included $18,201 and $19,165 at fair value and assets pledged of $1,485 and $1,762) 105,291 107,091
Total assets
(a)
$ 2,117,605 $ 2,031,989
Liabilities
Deposits (included $4,369 and $4,455 at fair value) $ 930,369 $ 938,367
Federal funds purchased and securities loaned or sold under repurchase agreements (included
$
4,060
and $3,396 at
fair value) 276,644 261,413
Commercial paper 35,363 41,794
Other borrowed funds (included $9,931 and $5,637 at fair value) 57,309 55,740
Trading liabilities 146,166 125,071
Accounts payable and other liabilities (included the allowance for lending-related commitments of
$
717
and $939
and $236 and $357 at fair value) 170,330 162,696
Beneficial interests issued by consolidated variable interest entities (included $1,495 and $1,410 at fair value) 77,649 15,225
Long-term debt (included $38,839 and $48,972 at fair value) 247,669 266,318
Total liabilities
(a)
1,941,499 1,866,624
Commitments and contingencies (see Note
31 on pages 280–281 of this Annual Report)
Stockholders’ equity
Preferred stock ($1 par value; authorized 200,000,000 shares; issued 780,000 and 2,538,107 shares) 7,800 8,152
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) 4,105 4,105
Capital surplus 97,415 97,982
Retained earnings 73,998 62,481
Accumulated other comprehensive income/(loss) 1,001 (91 )
Shares held in RSU Trust, at cost (1,192,712 shares and 1,526,944 shares) (53) (68 )
Treasury stock, at cost (194,639,785 shares and 162,974,783 shares) (8,160) (7,196 )
Total stockholders’ equity 176,106 165,365
Total liabilities and stockholders’ equity $ 2,117,605 $ 2,031,989
(a) The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at December 31, 2010 and 2009. The difference
between total VIE assets and liabilities represents the Firm’s interests in those entities, which were eliminated in consolidation.
December 31, (in millions)
2010
2009
Assets
Trading assets
$
9,837
$
6,347
Loans
95,587
13,0
04
All other assets
3,494
5,043
Total assets
$
108,918
$
24,394
Liabilities
Beneficial interests issued by consolidated variable interest entities
$
77,649
$
15,225
All other liabilities
1,922
2,197
Total liabilities
$
79
,571
$
17,422
The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests do not have recourse to the general credit of
JPMorgan Chase. At December 31, 2010, the Firm provided limited program-wide credit enhancement of $2.0 billion related to its Firm-administered multi-seller conduits.
For further discussion, see Note 16 on pages 244–259 of this Annual Report.
The Notes to Consolidated Financial Statements are an integral part of these statements.