JP Morgan Chase 2012 Annual Report Download - page 244

Notes to consolidated financial statements
254 JPMorgan Chase & Co./2012 Annual Report
The following tables summarize the Firm’s loan balances by portfolio segment.
December 31, 2012
(in millions)
Consumer, excluding
credit card Credit card(a) Wholesale Total
Retained $ 292,620 $ 127,993 $ 306,222 $ 726,835 (b)
Held-for-sale — — 4,406 4,406
At fair value — — 2,555 2,555
Total $ 292,620 $ 127,993 $ 313,183 $ 733,796
December 31, 2011
(in millions)
Consumer, excluding
credit card Credit card(a) Wholesale Total
Retained $ 308,427 $ 132,175 $ 278,395 $ 718,997 (b)
Held-for-sale — 102 2,524 2,626
At fair value — — 2,097 2,097
Total $ 308,427 $ 132,277 $ 283,016 $ 723,720
(a) Includes billed finance charges and fees net of an allowance for uncollectible amounts.
(b) Loans (other than PCI loans and those for which the fair value option has been elected) are presented net of unearned income, unamortized discounts and
premiums, and net deferred loan costs of $2.5 billion and $2.7 billion at December 31, 2012 and 2011, respectively.
The following table provides information about the carrying value of retained loans purchased, sold and reclassified to held-
for-sale during the periods indicated. These tables exclude loans recorded at fair value. On an ongoing basis, the Firm manages
its exposure to credit risk. Selling loans is one way that the Firm reduces its credit exposures.
2012 2011
Years ended December 31,
(in millions)
Consumer,
excluding
credit card Credit card Wholesale Total
Consumer,
excluding
credit card Credit card Wholesale Total
Purchases $ 6,601 $ — $ 827 $ 7,428 $ 7,525 $ — $ 906 $ 8,431
Sales 1,852 — 3,423 5,275 1,384 — 3,289 4,673
Retained loans reclassified to
held-for-sale — 1,043 504 1,547 — 2,006 538 2,544
The following table provides information about gains/(losses) on loan sales by portfolio segment.
Year ended December 31, (in millions) 2012 2011 2010
Net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)(a)
Consumer, excluding credit card $ 122 $ 131 $ 265
Credit card (9) (24) (16)
Wholesale 180 121 215
Total net gains/(losses) on sales of loans (including lower of cost or fair value adjustments)(a) $ 293 $ 228 $ 464
(a) Excludes sales related to loans accounted for at fair value.