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Management’s discussion and analysis
124 JPMorgan Chase & Co./2015 Annual Report
Effective in the fourth quarter 2015, the Firm realigned its wholesale industry divisions in order to better monitor and manage
industry concentrations. Included in this realignment is the combination of certain previous stand-alone industries (e.g.
Consumer & Retail) as well as the creation of a new industry division, Financial Market Infrastructure, consisting of clearing
houses, exchanges and related depositories. In the tables below, the prior period information has been revised to conform with
the current period presentation.
Below are summaries of the Firm’s exposures as of December 31, 2015 and 2014. For additional information on industry
concentrations, see Note 5.
Wholesale credit exposure – industries(a)
Selected metrics
30 days or
more past
due and
accruing
loans
Net charge-
offs/
(recoveries)
Credit
derivative
hedges(e)
Liquid
securities
and other
cash
collateral
held against
derivative
receivables
Noninvestment-grade
Credit
exposure(d)
Investment-
grade Noncriticized
Criticized
performing
Criticized
nonperforming
As of or for the year ended
December 31, 2015
(in millions)
Real Estate $ 116,857 $ 88,076 $ 27,087 $ 1,463 $ 231 $ 208 $ (14) $ (54) $ (47)
Consumer & Retail 85,460 53,647 29,659 1,947 207 18 13 (288) (94)
Technology, Media &
Telecommunications 57,382 29,205 26,925 1,208 44 5 (1) (806) (21)
Industrials 54,386 36,519 16,663 1,164 40 59 8 (386) (39)
Healthcare 46,053 37,858 7,755 394 46 129 (7) (24) (245)
Banks & Finance Cos 43,398 35,071 7,654 610 63 17 (5) (974) (5,509)
Oil & Gas 42,077 24,379 13,158 4,263 277 22 13 (530) (37)
Utilities 30,853 24,983 5,655 168 47 3 — (190) (289)
State & Municipal Govt(b) 29,114 28,307 745 7 55 55 (8) (146) (81)
Asset Managers 23,815 20,214 3,570 31 — 18 — (6) (4,453)
Transportation 19,227 13,258 5,801 167 1 15 3 (51) (243)
Central Govt 17,968 17,871 97 — — 7 — (9,359) (2,393)
Chemicals & Plastics 15,232 10,910 4,017 274 31 9 — (17) —
Metals & Mining 14,049 6,522 6,434 1,008 85 1 — (449) (4)
Automotive 13,864 9,182 4,580 101 1 4 (2) (487) (1)
Insurance 11,889 9,812 1,958 26 93 23 — (157) (1,410)
Financial Markets Infrastructure 7,973 7,304 669 — — — — — (167)
Securities Firms 4,412 1,505 2,907 — — 3 — (102) (256)
All other(c) 149,117 130,488 18,095 370 164 1,015 10 (6,655) (1,291)
Subtotal $ 783,126 $ 585,111 $ 183,429 $ 13,201 $ 1,385 $ 1,611 $ 10 $ (20,681) $ (16,580)
Loans held-for-sale and loans at fair
value 3,965
Receivables from customers and
interests in purchased receivables 13,372
Total $ 800,463