JP Morgan Chase 2013 Annual Report Download - page 180

Consolidated balance sheets
186 JPMorgan Chase & Co./2013 Annual Report
December 31, (in millions, except share data) 2013 2012
Assets
Cash and due from banks $ 39,771 $ 53,723
Deposits with banks 316,051 121,814
Federal funds sold and securities purchased under resale agreements (included $25,135 and $24,258 at fair value) 248,116 296,296
Securities borrowed (included $3,739 and $10,177 at fair value) 111,465 119,017
Trading assets (included assets pledged of $106,299 and $108,784) 374,664 450,028
Securities (included $329,977 and $371,145 at fair value and assets pledged of $23,446 and $52,063) 354,003 371,152
Loans (included $2,011 and $2,555 at fair value) 738,418 733,796
Allowance for loan losses (16,264) (21,936)
Loans, net of allowance for loan losses 722,154 711,860
Accrued interest and accounts receivable 65,160 60,933
Premises and equipment 14,891 14,519
Goodwill 48,081 48,175
Mortgage servicing rights 9,614 7,614
Other intangible assets 1,618 2,235
Other assets (included $15,187 and $16,458 at fair value and assets pledged of $2,066 and $1,127) 110,101 101,775
Total assets(a) $ 2,415,689 $ 2,359,141
Liabilities
Deposits (included $6,624 and $5,733 at fair value) $ 1,287,765 $ 1,193,593
Federal funds purchased and securities loaned or sold under repurchase agreements (included $5,426 and $4,388 at
fair value) 181,163 240,103
Commercial paper 57,848 55,367
Other borrowed funds (included $13,306 and $11,591 at fair value) 27,994 26,636
Trading liabilities 137,744 131,918
Accounts payable and other liabilities (included $25 and $36 at fair value) 194,491 195,240
Beneficial interests issued by consolidated variable interest entities (included $1,996 and $1,170 at fair value) 49,617 63,191
Long-term debt (included $28,878 and $30,788 at fair value) 267,889 249,024
Total liabilities(a) 2,204,511 2,155,072
Commitments and contingencies (see Notes 29, 30 and 31 of this Annual Report)
Stockholders’ equity
Preferred stock ($1 par value; authorized 200,000,000 shares: issued 1,115,750 and 905,750 shares) 11,158 9,058
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) 4,105 4,105
Capital surplus 93,828 94,604
Retained earnings 115,756 104,223
Accumulated other comprehensive income 1,199 4,102
Shares held in RSU Trust, at cost (476,642 and 479,126 shares) (21) (21)
Treasury stock, at cost (348,825,583 and 300,981,690 shares) (14,847) (12,002)
Total stockholders’ equity 211,178 204,069
Total liabilities and stockholders’ equity $ 2,415,689 $ 2,359,141
(a) The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at December 31, 2013 and 2012. 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) 2013 2012
Assets
Trading assets $ 6,366 $ 11,966
Loans 70,072 82,723
All other assets 2,168 2,090
Total assets $ 78,606 $ 96,779
Liabilities
Beneficial interests issued by consolidated variable interest entities $ 49,617 $ 63,191
All other liabilities 1,061 1,244
Total liabilities $ 50,678 $ 64,435
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, 2013 and 2012, the Firm provided limited program-wide credit enhancement of $2.6 billion and $3.1 billion, respectively, related to its Firm-
administered multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 16 on pages 288–299 of this Annual Report.
The Notes to Consolidated Financial Statements are an integral part of these statements.