J.P.Morgan
notes on non financial measures | J.P.Morgan
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Deck date
January 2024
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17 of 20
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Results
October 2024
chase non financial measures non financial measures a in addition to analyzing the firm results on a reported basis management reviews results including the overhead ratio on a managed basis these managed basis results are non financial measures the firm also reviews the results of the lines of business on a managed basis the firm definition of managed basis starts in each case with the reported results and includes certain reclassifications to present total net revenue for the firm and each of the reportable business segments on an basis accordingly revenue from investments that receive tax credits and tax exempt securities is presented in the managed results on a basis comparable to taxable investments and securities these financial measures allow management to assess the comparability of revenue from year to year arising from both taxable and tax exempt sources the corresponding income tax impact related to tax exempt items is recorded within income tax expense these adjustments have no impact on net income as reported by the firm as a whole or by the lines of business provision profit is a non financial measure which represents total net revenue less total expense the firm believes that this financial measure is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses and are each non financial measures represents the firm common stockholders equity i total stockholders equity less preferred stock less goodwill and identifiable intangible assets other than net of related deferred tax liabilities measures the firm net income applicable to common equity as a percentage of average represents the firm at period end divided by common shares at period end and are utilized by the firm as well as investors and analysts in assessing the firm use of equity in addition to reviewing net interest income net yield and revenue on a managed basis management also reviews these metrics excluding markets which is composed of fixed income markets and equity markets as shown below markets revenue consists of principal transactions fees commissions and other income as well as net interest income these metrics which exclude markets are non financial measures management reviews these metrics to assess the performance of the firm lending investing including asset liability management and deposit raising activities apart from any volatility associated with markets activities in addition management also assesses markets business performance on a total revenue basis as offsets may occur across revenue lines for example securities that generate net interest income may be risk managed by derivatives that are reflected at fair value in principal transactions revenue management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the firm for additional information on markets revenue refer to page of the firm form quarterly trends nine months ended in millions except rates change net interest income reported fully taxable equivalent adjustments net interest income managed basis a less markets net interest income net interest income excluding markets a average interest earning assets less average markets interest earning assets average interest earning assets excluding markets net yield on average interest earning assets managed basis net yield on average markets interest earning assets net yield on average interest earning assets excluding markets revenue reported fully taxable equivalent adjustments revenue managed basis less markets revenue revenue excluding markets memo markets total net revenue change a interest includes the effect of related hedges taxable equivalent amounts are used where applicable effective the firm adopted updates to the accounting for investments in tax credit structures using the proportional amortization method guidance under the modified retrospective method refer to page for additional information effective in the second quarter of the former corporate investment bank and commercial banking business segments were combined to form one segment the commercial investment bank prior period amounts have been revised to include the markets related revenues of the former commercial banking business segment to conform with the current presentation page | J.P.Morgan
Results
October 2024
notes on non financial measures | J.P.Morgan
Results
January 2024
chase non financial measures non financial measures a in addition to analyzing the firm results on a reported basis management reviews results including the overhead ratio on a managed basis these managed basis results are non financial measures the firm also reviews the results of the lines of business on a managed basis the firm definition of managed basis starts in each case with the reported results and includes certain reclassifications to present total net revenue for the firm and each of the reportable business segments on an basis accordingly revenue from investments that receive tax credits and tax exempt securities is presented in the managed results on a basis comparable to taxable investments and securities these financial measures allow management to assess the comparability of revenue from year to year arising from both taxable and tax exempt sources the corresponding income tax impact related to tax exempt items is recorded within income tax expense these adjustments have no impact on net income as reported by the firm as a whole or by the lines of business provision profit is a non financial measure which represents total net revenue less total expense the firm believes that this financial measure is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses and are each non financial measures represents the firm common stockholders equity i total stockholders equity less preferred stock less goodwill and identifiable intangible assets other than net of related deferred tax liabilities measures the firm net income applicable to common equity as a percentage of average represents the firm at period end divided by common shares at period end and are utilized by the firm as well as investors and analysts in assessing the firm use of equity the ratio of the wholesale and allowance for loan losses to period end loans retained excluding trade finance and conduits is calculated excluding loans accounted for at fair value loans held for sale trade finance loans and consolidated firm administered seller conduits as well as their related allowances to provide a more meaningful assessment of the respective allowance coverage ratio in addition to reviewing net interest income net yield and revenue on a managed basis management also reviews these metrics excluding markets markets which is composed of fixed income markets and equity markets as shown below markets revenue consists of principal transactions fees commissions and other income as well as net interest income these metrics which exclude markets are non financial measures management reviews these metrics to assess the performance of the firm lending investing including asset liability management and deposit raising activities apart from any volatility associated with markets activities in addition management also assesses markets business performance on a total revenue basis as offsets may occur across revenue lines for example securities that generate net interest income may be risk managed by derivatives that are reflected at fair value in principal transactions revenue management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the firm for additional information on markets revenue refer to page of the firm form in millions except rates quarterly trends full year change net interest income reported fully taxable equivalent adjustments net interest income managed basis a less markets net interest income net interest income excluding markets a average interest earning assets less average markets interest earning assets average interest earning assets excluding markets net yield on average interest earning assets managed basis net yield on average markets interest earning assets net yield on average interest earning assets excluding markets revenue reported fully taxable equivalent adjustments revenue managed basis less markets revenue revenue excluding markets memo markets total net revenue a interest includes the effect of related hedges taxable equivalent amounts are used where applicable change page | J.P.Morgan
Results
July 2023
chase non financial measures non financial measures a in addition to analyzing the firm results on a reported basis management reviews results including the overhead ratio on a managed basis these managed basis results are non financial measures the firm also reviews the results of the lines of business on a managed basis the firm definition of managed basis starts in each case with the reported results and includes certain reclassifications to present total net revenue for the firm and each of the reportable business segments on an basis accordingly revenue from investments that receive tax credits and tax exempt securities is presented in the managed results on a basis comparable to taxable investments and securities these financial measures allow management to assess the comparability of revenue from year to year arising from both taxable and tax exempt sources the corresponding income tax impact related to tax exempt items is recorded within income tax expense these adjustments have no impact on net income as reported by the firm as a whole or by the lines of business provision profit is a non financial measure which represents total net revenue less total expense the firm believes that this financial measure is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses and are each non financial measures represents the firm common stockholders equity i total stockholders equity less preferred stock less goodwill and identifiable intangible assets other than net of related deferred tax liabilities measures the firm net income applicable to common equity as a percentage of average represents the firm at period end divided by common shares at period end and are utilized by the firm as well as investors and analysts in assessing the firm use of equity the ratio of the wholesale and allowance for loan losses to period end loans retained excluding trade finance and conduits is calculated excluding loans accounted for at fair value loans held for sale trade finance loans and consolidated firm administered seller conduits as well as their related allowances to provide a more meaningful assessment of the respective allowance coverage ratio in addition to reviewing net interest income net yield and revenue on a managed basis management also reviews these metrics excluding markets markets which is composed of fixed income markets and equity markets as shown below markets revenue consists of principal transactions fees commissions and other income as well as net interest income these metrics which exclude markets are non financial measures management reviews these metrics to assess the performance of the firm lending investing including asset liability management and deposit raising activities apart from any volatility associated with markets activities in addition management also assesses markets business performance on a total revenue basis as offsets may occur across revenue lines for example securities that generate net interest income may be risk managed by derivatives that are reflected at fair value in principal transactions revenue management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the firm for additional information on markets revenue refer to page of the firm form quarterly trends six months ended june in millions except rates change net interest income reported fully taxable equivalent adjustments net interest income managed basis a less markets net interest income net interest income excluding markets a average interest earning assets less average markets interest earning assets average interest earning assets excluding markets net yield on average interest earning assets managed basis net yield on average markets interest earning assets net yield on average interest earning assets excluding markets revenue reported fully taxable equivalent adjustments revenue managed basis less markets revenue revenue excluding markets memo markets total net revenue a interest includes the effect of related hedges taxable equivalent amounts are used where applicable change page | J.P.Morgan
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