JP Morgan Chase 2014 Annual Report Download - page 304

Notes to consolidated financial statements
302 JPMorgan Chase & Co./2014 Annual Report
Note 32 – International operations
The following table presents income statement-related and
balance sheet-related information for JPMorgan Chase by
major international geographic area. The Firm defines
international activities for purposes of this footnote
presentation as business transactions that involve clients
residing outside of the U.S., and the information presented
below is based predominantly on the domicile of the client,
the location from which the client relationship is managed,
or the location of the trading desk. However, many of the
Firm’s U.S. operations serve international businesses.
As the Firm’s operations are highly integrated, estimates
and subjective assumptions have been made to apportion
revenue and expense between U.S. and international
operations. These estimates and assumptions are consistent
with the allocations used for the Firm’s segment reporting
as set forth in Note 33.
The Firm’s long-lived assets for the periods presented are
not considered by management to be significant in relation
to total assets. The majority of the Firm’s long-lived assets
are located in the U.S.
As of or for the year ended December 31, (in millions) Revenue(b) Expense(c)
Income before
income tax
expense Net income Total assets
2014
Europe/Middle East and Africa $ 16,013 $ 10,123 $ 5,890 $ 3,935 $ 481,328 (d)
Asia and Pacific 6,083 4,478 1,605 1,051 147,357
Latin America and the Caribbean 2,047 1,626 421 269 44,567
Total international 24,143 16,227 7,916 5,255 673,252
North America(a) 70,062 48,186 21,876 16,507 1,899,874
Total $ 94,205 $ 64,413 $ 29,792 $ 21,762 $ 2,573,126
2013
Europe/Middle East and Africa $ 15,585 $ 9,069 $ 6,516 $ 4,842 $ 514,747 (d)
Asia and Pacific 6,168 4,248 1,920 1,254 145,999
Latin America and the Caribbean 2,251 1,626 625 381 41,473
Total international 24,004 14,943 9,061 6,477 702,219
North America(a) 72,602 55,749 16,853 11,446 1,713,470
Total $ 96,606 $ 70,692 $ 25,914 $ 17,923 $ 2,415,689
2012
Europe/Middle East and Africa $ 10,522 $ 9,326 $ 1,196 $ 1,508 $ 553,147 (d)
Asia and Pacific 5,605 3,952 1,653 1,048 167,955
Latin America and the Caribbean 2,328 1,580 748 454 53,984
Total international 18,455 14,858 3,597 3,010 775,086
North America(a) 78,576 53,256 25,320 18,274 1,584,055
Total $ 97,031 $ 68,114 $ 28,917 $ 21,284 $ 2,359,141
(a) Substantially reflects the U.S.
(b) Revenue is composed of net interest income and noninterest revenue.
(c) Expense is composed of noninterest expense and the provision for credit losses.
(d) Total assets for the U.K. were approximately $434 billion, $451 billion, and $498 billion at December 31, 2014, 2013 and 2012, respectively.