JP Morgan Chase 2015 Annual Report Download - page 314

Notes to consolidated financial statements
304 JPMorgan Chase & Co./2015 Annual Report
Note 32 – International operations
The following table presents income statement- 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
2015
Europe/Middle East and Africa $ 14,206 $ 8,871 $ 5,335 $ 4,158 $ 347,647 (d)
Asia and Pacific 6,151 4,241 1,910 1,285 138,747
Latin America and the Caribbean 1,923 1,508 415 253 48,185
Total international 22,280 14,620 7,660 5,696 534,579
North America(a) 71,263 48,221 23,042 18,746 1,817,119
Total $ 93,543 $ 62,841 $ 30,702 $ 24,442 $ 2,351,698
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) 70,969 48,186 22,783 16,490 1,899,022
Total $ 95,112 $ 64,413 $ 30,699 $ 21,745 $ 2,572,274
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) 73,363 55,749 17,614 11,409 1,712,660
Total $ 97,367 $ 70,692 $ 26,675 $ 17,886 $ 2,414,879
(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 $306 billion, $434 billion, and $451 billion at December 31, 2015, 2014 and 2013, respectively.