JP Morgan Chase 2015 Annual Report Download - page 106

Management’s discussion and analysis
96 JPMorgan Chase & Co./2015 Annual Report
Selected metrics
As of or for the year ended
December 31,
(in millions, except headcount) 2015 2014 2013
Selected balance sheet data
(period-end)
Assets $ 748,691 $ 861,466 $ 843,248
Loans:
Loans retained(a) 106,908 96,409 95,627
Loans held-for-sale and
loans at fair value 3,698 5,567 11,913
Total loans 110,606 101,976 107,540
Core Loans 110,084 100,772 101,376
Equity 62,000 61,000 56,500
Selected balance sheet data
(average)
Assets $ 824,208 $ 854,712 $ 859,071
Trading assets-debt and equity
instruments 302,514 317,535 321,585
Trading assets-derivative
receivables 67,263 64,833 70,353
Loans:
Loans retained(a) 98,331 95,764 104,864
Loans held-for-sale and
loans at fair value 4,572 7,599 5,158
Total loans $ 102,903 $ 103,363 $ 110,022
Core Loans 99,231 102,604 108,199
Equity 62,000 61,000 56,500
Headcount(b) 49,067 50,965 52,082
(a) Loans retained includes credit portfolio loans, loans held by consolidated
Firm-administered multi-seller conduits, trade finance loans, other held-for-
investment loans and overdrafts.
(b) Effective in 2015, certain technology staff were transferred from CIB to CB;
previously-reported headcount has been revised to conform with the
current period presentation. As the related expense for these staff is not
material, prior period expenses have not been revised. Prior to 2015,
compensation expense related to this headcount was recorded in the CIB,
with an allocation to CB (reported in noncompensation expense);
commencing with 2015, such expense is recorded as compensation
expense in CB and accordingly total noninterest expense related to this
headcount in both CB and CIB remains unchanged.
Selected metrics
As of or for the year ended
December 31,
(in millions, except ratios) 2015 2014 2013
Credit data and quality
statistics
Net charge-offs/
(recoveries) $ (19) $ (12) $ (78)
Nonperforming assets:
Nonaccrual loans:
Nonaccrual loans
retained(a) 428 110 163
Nonaccrual loans held-
for-sale and loans at
fair value 10 11 180
Total nonaccrual loans 438 121 343
Derivative receivables 204 275 415
Assets acquired in loan
satisfactions 62 67 80
Total nonperforming
assets 704 463 838
Allowance for credit losses:
Allowance for loan
losses 1,258 1,034 1,096
Allowance for lending-
related commitments 569 439 525
Total allowance for credit
losses 1,827 1,473 1,621
Net charge-off/(recovery)
rate (0.02)% (0.01)% 0.07%
Allowance for loan losses to
period-end loans
retained 1.18 1.07 1.15
Allowance for loan losses to
period-end loans retained,
excluding trade finance
and conduits(b) 1.88 1.82 2.02
Allowance for loan losses to
nonaccrual loans
retained(a) 294 940 672
Nonaccrual loans to total
period-end loans 0.40 0.12 0.32
(a) Allowance for loan losses of $177 million, $18 million and $51 million
were held against these nonaccrual loans at December 31, 2015, 2014 and
2013, respectively.
(b) Management uses allowance for loan losses to period-end loans retained,
excluding trade finance and conduits, a non-GAAP financial measure, to
provide a more meaningful assessment of CIB’s allowance coverage ratio.
Business metrics
Year ended December 31,
(in millions) 2015 2014 2013
Advisory $ 2,133 $ 1,627 $ 1,315
Equity underwriting 1,434 1,571 1,499
Debt underwriting 3,169 3,372 3,517
Total investment banking fees $ 6,736 $ 6,570 $ 6,331