JP Morgan Chase 2014 Annual Report Download - page 176

Consolidated balance sheets
174 JPMorgan Chase & Co./2014 Annual Report
December 31, (in millions, except share data) 2014 2013
Assets
Cash and due from banks $ 27,831 $ 39,771
Deposits with banks 484,477 316,051
Federal funds sold and securities purchased under resale agreements (included $28,585 and $25,135 at fair value) 215,803 248,116
Securities borrowed (included $992 and $3,739 at fair value) 110,435 111,465
Trading assets (included assets pledged of $125,034 and $116,499) 398,988 374,664
Securities (included $298,752 and $329,977 at fair value and assets pledged of $24,912 and $23,446) 348,004 354,003
Loans (included $2,611 and $2,011 at fair value) 757,336 738,418
Allowance for loan losses (14,185) (16,264)
Loans, net of allowance for loan losses 743,151 722,154
Accrued interest and accounts receivable 70,079 65,160
Premises and equipment 15,133 14,891
Goodwill 47,647 48,081
Mortgage servicing rights 7,436 9,614
Other intangible assets 1,192 1,618
Other assets (included $12,366 and $15,187 at fair value and assets pledged of $1,396 and $2,066) 102,950 110,101
Total assets(a) $ 2,573,126 $ 2,415,689
Liabilities
Deposits (included $8,807 and $6,624 at fair value) $ 1,363,427 $ 1,287,765
Federal funds purchased and securities loaned or sold under repurchase agreements (included $2,979 and $5,426 at fair
value) 192,101 181,163
Commercial paper 66,344 57,848
Other borrowed funds (included $14,739 and $13,306 at fair value) 30,222 27,994
Trading liabilities 152,815 137,744
Accounts payable and other liabilities (included $36 and $25 at fair value) 206,954 194,491
Beneficial interests issued by consolidated variable interest entities (included $2,162 and $1,996 at fair value) 52,362 49,617
Long-term debt (included $30,226 and $28,878 at fair value) 276,836 267,889
Total liabilities(a) 2,341,061 2,204,511
Commitments and contingencies (see Notes 29, 30 and 31)
Stockholders’ equity
Preferred stock ($1 par value; authorized 200,000,000 shares: issued 2,006,250 and 1,115,750 shares) 20,063 11,158
Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) 4,105 4,105
Additional paid-in capital 93,270 93,828
Retained earnings 130,315 115,756
Accumulated other comprehensive income 2,189 1,199
Shares held in RSU trust, at cost (472,953 and 476,642 shares) (21) (21)
Treasury stock, at cost (390,144,630 and 348,825,583 shares) (17,856) (14,847)
Total stockholders’ equity 232,065 211,178
Total liabilities and stockholders’ equity $ 2,573,126 $ 2,415,689
(a) The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at December 31, 2014 and 2013. 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) 2014 2013
Assets
Trading assets $ 9,090 $ 6,366
Loans 68,880 70,072
All other assets 1,815 2,168
Total assets $ 79,785 $ 78,606
Liabilities
Beneficial interests issued by consolidated variable interest entities $ 52,362 $ 49,617
All other liabilities 949 1,061
Total liabilities $ 53,311 $ 50,678
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, 2014 and 2013, the Firm provided limited program-wide credit enhancement of $2.0 billion and $2.6 billion, respectively, related to its Firm-administered
multi-seller conduits, which are eliminated in consolidation. For further discussion, see Note 16.
The Notes to Consolidated Financial Statements are an integral part of these statements.