JP Morgan Chase 2015 Annual Report Download - page 188

Consolidated balance sheets
178 JPMorgan Chase & Co./2015 Annual Report
December 31, (in millions, except share data) 2015 2014
Assets
Cash and due from banks $ 20,490 $ 27,831
Deposits with banks 340,015 484,477
Federal funds sold and securities purchased under resale agreements (included $23,141 and $28,585 at fair value) 212,575 215,803
Securities borrowed (included $395 and $992 at fair value) 98,721 110,435
Trading assets (included assets pledged of $115,284 and $125,034) 343,839 398,988
Securities (included $241,754 and $298,752 at fair value and assets pledged of $14,883 and $24,912) 290,827 348,004
Loans (included $2,861 and $2,611 at fair value) 837,299 757,336
Allowance for loan losses (13,555) (14,185)
Loans, net of allowance for loan losses 823,744 743,151
Accrued interest and accounts receivable 46,605 70,079
Premises and equipment 14,362 15,133
Goodwill 47,325 47,647
Mortgage servicing rights 6,608 7,436
Other intangible assets 1,015 1,192
Other assets (included $7,604 and $11,909 at fair value and assets pledged of $1,286 and $1,399) 105,572 102,098
Total assets(a) $ 2,351,698 $ 2,572,274
Liabilities
Deposits (included $12,516 and $8,807 at fair value) $ 1,279,715 $ 1,363,427
Federal funds purchased and securities loaned or sold under repurchase agreements (included $3,526 and $2,979 at fair
value) 152,678 192,101
Commercial paper 15,562 66,344
Other borrowed funds (included $9,911 and $14,739 at fair value) 21,105 30,222
Trading liabilities 126,897 152,815
Accounts payable and other liabilities (included $4,401 and $4,155 at fair value) 177,638 206,939
Beneficial interests issued by consolidated variable interest entities (included $787 and $2,162 at fair value) 41,879 52,320
Long-term debt (included $33,065 and $30,226 at fair value) 288,651 276,379
Total liabilities(a) 2,104,125 2,340,547
Commitments and contingencies (see Notes 29, 30 and 31)
Stockholders’ equity
Preferred stock ($1 par value; authorized 200,000,000 shares: issued 2,606,750 and 2,006,250 shares) 26,068 20,063
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 92,500 93,270
Retained earnings 146,420 129,977
Accumulated other comprehensive income 192 2,189
Shares held in restricted stock units (“RSU”) trust, at cost (472,953 shares) (21) (21)
Treasury stock, at cost (441,459,392 and 390,144,630 shares) (21,691) (17,856)
Total stockholders’ equity 247,573 231,727
Total liabilities and stockholders’ equity $ 2,351,698 $ 2,572,274
(a) The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at December 31, 2015 and 2014. 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) 2015 2014
Assets
Trading assets $ 3,736 $ 9,090
Loans 75,104 68,880
All other assets 2,765 1,815
Total assets $ 81,605 $ 79,785
Liabilities
Beneficial interests issued by consolidated variable interest entities $ 41,879 $ 52,320
All other liabilities 809 949
Total liabilities $ 42,688 $ 53,269
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 both December 31, 2015 and 2014, the Firm provided limited program-wide credit enhancement of $2.0 billion, 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.