1. EARNINGS RELEASE FINANCIAL SUPPLEMENT
SECOND QUARTER 2011

2. JPMORGAN CHASE & CO.
TABLE OF CONTENTS
Page(s)
Consolidated Results
Consolidated Financial Highlights
Statements of Income
Consolidated Balance Sheets
Condensed Average Balance Sheets and Annualized Yields
Reconciliation from Reported to Managed Summary
2-3
4
5
6
7
Business Detail
Line of Business Financial Highlights - Managed Basis
Investment Bank
Retail Financial Services
Card Services
Commercial Banking
Treasury & Securities Services
Asset Management
Corporate/Private Equity
8
9-12
13-19
20-21
22-23
24-25
26-30
31-32
Credit-Related Information
33-38
Market Risk-Related Information
39
Supplemental Detail
Capital and Other Selected Balance Sheet Items
Mortgage Loan Repurchase Liability
Per Share-Related Information
40
41
42
Non-GAAP Financial Measures
43
Glossary of Terms
44-47
Page 1

3. JPMORGAN CHASE & CO.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(in millions, except per share and ratio data)
QUARTERLY TRENDS
SELECTED INCOME STATEMENT DATA
Reported Basis
Total net revenue
Total noninterest expense
Pre-provision profit
Provision for credit losses
NET INCOME
Managed Basis (a)
Total net revenue
Total noninterest expense
Pre-provision profit
Provision for credit losses
NET INCOME
PER COMMON SHARE DATA
Basic earnings
Diluted earnings
Cash dividends declared
Book value
2Q11
$
1Q11
26,779
16,842
9,937
1,810
5,431
$
4Q10
25,221
15,995
9,226
1,169
5,555
$
YEAR-TO-DATE
3Q10
26,098
16,043
10,055
3,043
4,831
$
2Q11 Change
1Q11
2Q10
2Q10
23,824
14,398
9,426
3,223
4,418
$
2011
25,101
14,631
10,470
3,363
4,795
6 %
5
8
55
(2)
7 %
15
(5)
(46)
13
$
2011 Change
2010
2010
52,000
32,837
19,163
2,979
10,986
$
52,772
30,755
22,017
10,373
8,121
(1) %
7
(13)
(71)
35
53,201
32,837
20,364
2,979
10,986
53,785
30,755
23,030
10,373
8,121
(1)
7
(12)
(71)
35
27,410
16,842
10,568
1,810
5,431
25,791
15,995
9,796
1,169
5,555
26,722
16,043
10,679
3,043
4,831
24,335
14,398
9,937
3,223
4,418
25,613
14,631
10,982
3,363
4,795
6
5
8
55
(2)
7
15
(4)
(46)
13
1.28
1.27
1.29
1.28
1.13
1.12
1.02
1.01
1.10
1.09
(1)
(1)
16
17
2.57
2.55
1.84
1.83
40
39
0.05
43.04
0.05
42.29
0.05
40.99
3
400
9
0.50
44.77
0.10
40.99
400
9
0.25
44.77
0.25 (g)
43.34
Closing share price (b)
Market capitalization
40.94
160,083
46.10
183,783
42.42
165,875
38.06
149,418
36.61
145,554
(11)
(13)
12
10
40.94
160,083
36.61
145,554
12
10
COMMON SHARES OUTSTANDING
Average: Basic
Diluted
Common shares at period-end
3,958.4
3,983.2
3,910.2
3,981.6
4,014.1
3,986.6
3,917.0
3,935.2
3,910.3
3,954.3
3,971.9
3,925.8
3,983.5
4,005.6
3,975.8
(1)
(1)
(2)
(1)
(1)
(2)
3,970.0
3,998.6
3,910.2
3,977.0
4,000.2
3,975.8
(2)
FINANCIAL RATIOS (c)
Return on common equity ("ROE")
Return on tangible common equity ("ROTCE") (d)
Return on assets ("ROA")
12
17
0.99
%
13
18
1.07
CAPITAL RATIOS
Tier 1 capital ratio
Total capital ratio
Tier 1 common capital ratio (e)
12.4 (f)
15.7 (f)
10.1 (f)
12.3
15.6
10.0
(a)
(b)
(c)
(d)
(e)
(f)
(g)
%
11
16
0.92
12.1
15.5
9.8
%
10
15
0.86
11.9
15.4
9.5
%
12
17
0.94
%
13
18
1.03
%
10
15
0.80
%
12.1
15.8
9.6
For further discussion of managed basis, see Reconciliation from Reported to Managed Summary on page 7.
Share prices shown for JPMorgan Chase’s common stock are from the New York Stock Exchange. JPMorgan Chase’s common stock is also listed and traded on the London Stock Exchange and the Tokyo Stock Exchange.
Ratios are based upon annualized amounts.
ROTCE, a non-GAAP financial ratio, measures the Firm’s earnings as a percentage of tangible common equity. In management’s view, this measure is meaningful to the Firm, as well as analysts and investors in assessing the
Firm’s use of equity and in facilitating comparisons with competitors. For further discussion, see page 43.
Tier 1 common capital ratio is Tier 1 common capital divided by risk-weighted assets. The Firm uses Tier 1 common capital along with the other capital measures to assess and monitor its capital position. For further discussion of
Tier 1 common capital ratio, see page 43.
Estimated.
On March 18, 2011, the Board of Directors increased the Firm’s quarterly common stock dividend from $0.05 to $0.25 per share.
Page 2

4. JPMORGAN CHASE & CO.
CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio and headcount data)
QUARTERLY TRENDS
YEAR-TO-DATE
2Q11
SELECTED BALANCE SHEET DATA (Period-end)
Total assets
Wholesale loans
Consumer, excluding credit card loans
Credit card loans
Deposits
Common stockholders' equity
Total stockholders' equity
1Q11
4Q10
3Q10
2Q10
$ 2,246,764
248,823
315,390
125,523
1,048,685
175,079
182,879
$ 2,198,161
236,007
321,186
128,803
995,829
172,798
180,598
$ 2,117,605
227,633
327,618
137,676
930,369
168,306
176,106
$ 2,141,595
220,597
333,498
136,436
903,138
166,030
173,830
$ 2,014,019
216,826
339,663
142,994
887,805
162,968
171,120
Deposits-to-loans ratio
152
Headcount
LINE OF BUSINESS NET INCOME/(LOSS)
Investment Bank
Retail Financial Services
Card Services
Commercial Banking
Treasury & Securities Services
Asset Management
Corporate/Private Equity
NET INCOME
2Q11 Change
1Q11
2Q10
%
145
250,095
$
$
2,057
582
911
607
333
439
502
5,431
%
134
242,929
$
$
2,370
(208)
1,343
546
316
466
722
5,555
%
131
239,831
$
$
1,501
708
1,299
530
257
507
29
4,831
%
127
236,810
$
$
1,286
907
735
471
251
420
348
4,418
232,939
$
$
1,381
1,042
343
693
292
391
653
4,795
2 %
5
(2)
(3)
5
1
1
2011
12 %
15
(7)
(12)
18
7
7
$ 2,246,764
248,823
315,390
125,523
1,048,685
175,079
182,879
$ 2,014,019
216,826
339,663
142,994
887,805
162,968
171,120
%
152
3
(13)
NM
(32)
11
5
(6)
(30)
(2)
7
49
(44)
166
(12)
14
12
(23)
13
2011 Change
2010
2010
%
127
250,095
$
$
4,427
374
2,254
1,153
649
905
1,224
10,986
232,939
$
$
3,852
911
40
1,083
571
783
881
8,121
12 %
15
(7)
(12)
18
7
7
%
7
15
(59)
NM
6
14
16
39
35
Page 3

5. JPMORGAN CHASE & CO.
STATEMENTS OF INCOME
(in millions, except per share and ratio data)
QUARTERLY TRENDS
REVENUE
Investment banking fees
Principal transactions
Lending- and deposit-related fees
Asset management, administration and commissions
Securities gains
Mortgage fees and related income
Credit card income
Other income
Noninterest revenue
Interest income
Interest expense
Net interest income
TOTAL NET REVENUE
Provision for credit losses
NONINTEREST EXPENSE
Compensation expense
Occupancy expense
Technology, communications and equipment expense
Professional and outside services
Marketing
Other expense
Amortization of intangibles
TOTAL NONINTEREST EXPENSE
Income before income tax expense
Income tax expense
NET INCOME
PER COMMON SHARE DATA
Basic earnings
Diluted earnings
FINANCIAL RATIOS
Return on equity
Return on tangible common equity (a)
Return on assets
Effective income tax rate
Overhead ratio
(a)
$
$
$
2Q11
1,933
3,140
1,649
3,703
837
1,103
1,696
882
14,943
15,632
3,796
11,836
26,779
1,810
$
7,569
935
1,217
1,866
744
4,299
212
16,842
8,127
2,696
5,431
$
1.28
1.27
12
17
0.99
33
63
$
%
1Q11
1,793
4,745
1,546
3,606
102
(487)
1,437
574
13,316
15,447
3,542
11,905
25,221
1,169
$
8,263
978
1,200
1,735
659
2,943
217
15,995
8,057
2,502
5,555
$
1.29
1.28
13
18
1.07
31
63
$
%
4Q10
1,832
1,915
1,545
3,697
1,253
1,617
1,558
579
13,996
15,612
3,510
12,102
26,098
3,043
$
6,571
1,045
1,198
1,789
584
4,616
240
16,043
7,012
2,181
4,831
$
1.13
1.12
11
16
0.92
31
61
$
%
3Q10
1,476
2,341
1,563
3,188
102
707
1,477
468
11,322
15,606
3,104
12,502
23,824
3,223
$
6,661
884
1,184
1,718
651
3,082
218
14,398
6,203
1,785
4,418
$
1.02
1.01
10
15
0.86
29
60
YEAR-TO-DATE
$
%
2Q11 Change
1Q11
2Q10
8 %
36 %
(34)
50
7
4
3
11
NM
(16)
NM
24
18
13
54
51
12
20
1
(1)
7
25
(1)
(7)
6
7
55
(46)
2Q10
1,421
2,090
1,586
3,349
1,000
888
1,495
585
12,414
15,719
3,032
12,687
25,101
3,363
7,616
883
1,165
1,685
628
2,419
235
14,631
7,107
2,312
4,795
(8)
(4)
1
8
13
46
(2)
5
1
8
(2)
(1)
6
4
11
18
78
(10)
15
14
17
13
1.10
1.09
(1)
(1)
16
17
12
17
0.94
33
58
%
$
$
$
2011
3,726
7,885
3,195
7,309
939
616
3,133
1,456
28,259
31,079
7,338
23,741
52,000
2,979
$
15,832
1,913
2,417
3,601
1,403
7,242
429
32,837
16,184
5,198
10,986
$
2.57
2.55
13
18
1.03
32
63
$
%
2011 Change
2010
29 %
19
(1)
11
(42)
(60)
10
46
7
(5)
19
(10)
(1)
(71)
2010
2,882
6,638
3,232
6,614
1,610
1,546
2,856
997
26,375
32,564
6,167
26,397
52,772
10,373
14,892
1,752
2,302
3,260
1,211
6,860
478
30,755
11,644
3,523
8,121
6
9
5
10
16
6
(10)
7
39
48
35
1.84
1.83
10
15
0.80
30
58
40
39
%
ROTCE, a non-GAAP financial ratio, measures the Firm’s earnings as a percentage of tangible common equity. In management’s view, this measure is meaningful to the Firm, as well as analysts and investors in assessing the Firm’s
use of equity and in facilitating comparisons with competitors. For further discussion, see page 43.
Page 4

6. JPMORGAN CHASE & CO.
CONSOLIDATED BALANCE SHEETS
(in millions)
Jun 30
2011
ASSETS
Cash and due from banks
Deposits with banks
Federal funds sold and securities purchased under
resale agreements
Securities borrowed
Trading assets:
Debt and equity instruments
Derivative receivables
Securities
Loans
Less: Allowance for loan losses
Loans, net of allowance for loan losses
Accrued interest and accounts receivable
Premises and equipment
Goodwill
Mortgage servicing rights
Other intangible assets
Other assets
TOTAL ASSETS
LIABILITIES
Deposits
Federal funds purchased and securities loaned or sold
under repurchase agreements
Commercial paper
Other borrowed funds (a)
Trading liabilities:
Debt and equity instruments
Derivative payables
Accounts payable and other liabilities
Beneficial interests issued by consolidated VIEs
Long-term debt (a)
TOTAL LIABILITIES
STOCKHOLDERS' EQUITY
Preferred stock
Common stock
Capital surplus
Retained earnings
Accumulated other comprehensive income
Shares held in RSU Trust, at cost
Treasury stock, at cost
TOTAL STOCKHOLDERS' EQUITY
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
(a)
$
30,466
169,880
Mar 31
2011
$
23,469
80,842
Dec 31
2010
$
27,567
21,673
Sep 30
2010
$
23,960
31,077
Jun 30
2010
$
32,806
39,430
June 30, 2011
Change
Mar 31
Jun 30
2011
2010
30 %
110
(7) %
331
213,362
121,493
217,356
119,000
222,554
123,587
235,390
127,365
199,024
122,289
(2)
2
7
(1)
$
381,339
77,383
324,741
689,736
28,520
661,216
80,292
13,679
48,882
12,243
3,679
108,109
2,246,764
422,404
78,744
334,800
685,996
29,750
656,246
79,236
13,422
48,856
13,093
3,857
106,836
$ 2,198,161
409,411
80,481
316,336
692,927
32,266
660,661
70,147
13,355
48,854
13,649
4,039
105,291
$ 2,117,605
$
378,222
97,293
340,168
690,531
34,161
656,370
63,224
11,316
48,736
10,305
3,982
114,187
2,141,595
$
317,293
80,215
312,013
699,483
35,836
663,647
61,295
11,267
48,320
11,853
4,178
110,389
2,014,019
(10)
(2)
(3)
1
(4)
1
1
2
(6)
(5)
1
2
20
(4)
4
(1)
(20)
31
21
1
3
(12)
(2)
12
$
1,048,685
$
$
$
903,138
$
887,805
5
18
995,829
930,369
254,124
51,160
30,208
276,644
35,363
34,325
314,161
38,611
35,736
237,455
41,082
32,607
(11)
11
(18)
7
25
(7)
84,865
63,668
184,490
67,457
279,228
2,063,885
$
285,444
46,022
36,704
80,031
61,362
171,638
70,917
269,616
2,017,563
76,947
69,219
170,330
77,649
270,653
1,941,499
82,919
74,902
169,365
77,438
271,495
1,967,765
74,745
60,137
160,478
88,148
260,442
1,842,899
6
4
7
(5)
4
2
14
6
15
(23)
7
12
7,800
4,105
96,938
69,531
3,096
(68)
(7,572)
173,830
2,141,595
8,152
4,105
96,745
65,465
2,404
(68)
(5,683)
171,120
2,014,019
5
130
(67)
1
2
(4)
(2)
26
(32)
22
(46)
7
12
7,800
4,105
95,061
82,612
1,638
(53)
(8,284)
182,879
2,246,764
7,800
4,105
94,660
78,342
712
(53)
(4,968)
180,598
$ 2,198,161
7,800
4,105
97,415
73,998
1,001
(53)
(8,160)
176,106
$ 2,117,605
$
$
Effective January 1, 2011, the long-term portion of advances from Federal Home Loan Banks (“FHLBs”) was reclassified from other borrowed funds to long-term debt. Prior periods have been
revised to conform with the current presentation.
Page 5

7. JPMORGAN CHASE & CO.
CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS
(in millions, except rates)
QUARTERLY TRENDS
AVERAGE BALANCES
ASSETS
Deposits with banks
Federal funds sold and securities purchased under
resale agreements
Securities borrowed
Trading assets - debt instruments
Securities
Loans
Other assets (a)
Total interest-earning assets
Trading assets - equity instruments
Trading assets - derivative receivables
All other noninterest-earning assets
TOTAL ASSETS
LIABILITIES
Interest-bearing deposits
Federal funds purchased and securities loaned or
sold under repurchase agreements
Commercial paper
Trading liabilities - debt, short-term and other liabilities (b)(c)
Beneficial interests issued by consolidated VIEs
Long-term debt (c)
Total interest-bearing liabilities
Noninterest-bearing deposits
Trading liabilities - equity instruments
Trading liabilities - derivative payables
All other noninterest-bearing liabilities
TOTAL LIABILITIES
Preferred stock
Common stockholders' equity
TOTAL STOCKHOLDERS' EQUITY
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY
AVERAGE RATES
INTEREST-EARNING ASSETS
Deposits with banks
Federal funds sold and securities purchased under
resale agreements
Securities borrowed
Trading assets - debt instruments
Securities
Loans
Other assets (a)
Total interest-earning assets
INTEREST-BEARING LIABILITIES
Interest-bearing deposits
Federal funds purchased and securities loaned or
sold under repurchase agreements
Commercial paper
Trading liabilities - debt, short-term and other liabilities (b)(c)
Beneficial interests issued by consolidated VIEs
Long-term debt (c)
Total interest-bearing liabilities
INTEREST RATE SPREAD
NET YIELD ON INTEREST-EARNING ASSETS
(a)
(b)
(c)
(d)
2Q11
$
1Q11
75,801
$
4Q10
37,155
$
3Q10
29,213
$
2Q10
38,747
202,036
124,806
285,104
342,248
686,111
48,716
1,764,822
137,611
82,860
207,250
$ 2,192,543
202,481
114,589
275,512
318,936
688,133
49,887
1,686,693
141,951
85,437
190,371
$ 2,104,452
201,489
119,973
273,929
328,126
690,529
42,583
1,685,842
122,827
87,569
192,906
$ 2,089,144
$
$
$
$
$
$
669,346
278,250
36,838
193,814
72,932
269,156
1,551,911
229,461
7,872
71,288
66,705
1,927,237
7,800
169,415
177,215
287,493
34,507
196,840
78,114
273,066
1,539,366
225,966
7,166
71,727
70,307
1,914,532
7,800
166,812
174,612
$ 2,192,543
$ 2,104,452
$ 2,089,144
0.76
%
1.11
%
1.02
1.20
0.10
4.23
3.10
5.36
1.30
3.58
1.09
0.17
4.31
2.89
5.62
1.20
3.74
1.05
0.16
4.29
2.44
5.71
1.54
3.70
0.61
0.53
0.50
0.29
0.19
1.26
1.17
2.31
0.94
0.17
0.21
1.43
1.19
2.39
0.93
0.12
0.21
1.57
1.13
2.25
0.90
2.64%
2.72%
2.81%
2.89%
2.80%
2.88%
189,573
113,650
245,532
327,425
705,189
34,429
1,674,535
95,080
79,409
194,623
2,043,647
$
659,027
700,921
281,843
41,682
212,878
69,399
273,934
1,612,502
247,137
3,289
66,009
81,729
2,010,666
7,800
174,077
181,877
58,737
$
192,099
121,302
251,790
327,798
693,791
36,912
1,662,439
96,200
92,857
189,617
2,041,113
732,766
YEAR-TO-DATE
668,953
%
2,041,113
0.85
104
%
2011
29
$
%
0.92
0.22
4.37
2.67
5.71
1.57
3.75
0.51
%
$
7
10
16
5
(3)
41
5
45
4
6
7
$
$
5
10
1
13
10
(5)
2
4
8
(58)
(7)
23
4
3
3
3
11
12
(23)
1
5
18
(37)
6
19
7
(4)
9
9
2,043,647
4
7
0.63
%
$
61,468
202,256
119,726
280,334
330,657
687,117
49,299
1,725,973
139,769
84,141
198,858
2,148,741
$
179,858
114,140
246,804
332,405
715,108
31,175
1,680,958
89,408
79,048
191,763
2,041,177
716,932
$
673,169
280,056
39,273
203,398
71,156
271,559
1,582,374
238,347
5,568
68,634
74,259
1,969,182
7,800
171,759
179,559
$
0.87
0.53
$
2.94%
3.01%
3.00%
3.06%
2.72%
2.80%
7
2,041,177
5
%
0.61
0.58
0.23
0.20
1.34
1.18
2.35
0.94
12
5
14
(1)
(4)
58
3
56
6
4
5
3
5
13
(24)
(2)
3
16
2
13
4
5
(4)
9
8
1.14
0.13
4.27
3.00
5.49
1.25
3.66
(0.07) (d)
0.19
1.11
1.36
2.00
0.79
(8) %
272,779
37,509
179,586
94,072
275,883
1,532,998
204,871
5,470
60,809
71,287
1,875,435
8,152
157,590
165,742
2,148,741
0.84
0.11
4.25
3.14
5.68
1.60
3.79
(0.28) (d)
0.20
1.27
1.36
2.30
0.81
2011 Change
2010
2010
56,584
9
3
7
(2)
5
(3)
(3)
9
4
273,614
37,557
189,826
90,085
270,085
1,530,120
209,615
5,216
62,547
68,928
1,876,426
8,152
159,069
167,221
281,171
34,523
188,010
83,928
267,556
1,514,215
213,700
6,560
69,350
65,335
1,869,160
7,991
163,962
171,953
$
2Q11 Change
1Q11
2Q10
%
0.90
0.11
4.41
3.34
5.80
1.49
3.93
0.52
(0.06) (d)
0.19
1.24
1.36
2.01
0.81
3.12%
3.19%
Includes margin loans.
Includes brokerage customer payables.
Effective January 1, 2011, the long-term portion of the advances from FHLBs was reclassified from other borrowed funds, which is included in short-term and other liabilities, to long-term debt. Prior periods have been revised to
conform with the current presentation.
Includes a benefit from the favorable market environments for dollar-roll financings.
Page 6

8. JPMORGAN CHASE & CO.
RECONCILIATION FROM REPORTED TO MANAGED SUMMARY
(in millions)
The Firm prepares its consolidated financial statements using accounting principles generally accepted in the U.S. ("U.S. GAAP"). That presentation, which is referred to as "reported” basis, provides the reader with an understanding
of the Firm's results that can be tracked consistently from year to year and enables a comparison of the Firm's performance with other companies' U.S. GAAP financial statements. In addition to analyzing the Firm’s results on a reported
basis, management reviews the Firm’s results and the results of the lines of business on a “managed” basis, which is a non-GAAP financial measure. For additional information on managed basis, refer to the notes on Non-GAAP Financial
2Q11
1Q11
Measures on page 43.
The following summary table provides a reconciliation from the Firm’s reported U.S. GAAP results to managed basis.
QUARTERLY TRENDS
2Q11
OTHER INCOME
Other income - reported
Fully tax-equivalent adjustments
Other income - managed
TOTAL NONINTEREST REVENUE
Total noninterest revenue - reported
Fully tax-equivalent adjustments
Total noninterest revenue - managed
NET INTEREST INCOME
Net interest income - reported
Fully tax-equivalent adjustments
Net interest income - managed
TOTAL NET REVENUE
Total net revenue - reported
Fully tax-equivalent adjustments
Total net revenue - managed
PRE-PROVISION PROFIT
Total pre-provision profit - reported
Fully tax-equivalent adjustments
Total pre-provision profit - managed
INCOME TAX EXPENSE
Income tax expense - reported
Fully tax-equivalent adjustments
Income tax expense - managed
$
$
$
$
$
$
$
$
$
$
$
$
882
510
1,392
1Q11
$
$
14,943
510
15,453
$
11,836
121
11,957
$
26,779
631
27,410
$
9,937
631
10,568
$
2,696
631
3,327
$
$
$
$
$
$
574
451
1,025
4Q10
$
$
13,316
451
13,767
$
11,905
119
12,024
$
25,221
570
25,791
$
9,226
570
9,796
$
2,502
570
3,072
$
$
$
$
$
$
579
503
1,082
YEAR-TO-DATE
3Q10
$
$
13,996
503
14,499
$
12,102
121
12,223
$
26,098
624
26,722
$
10,055
624
10,679
$
2,181
624
2,805
$
$
$
$
$
$
2Q10
468
415
883
$
11,322
415
11,737
$
12,502
96
12,598
$
23,824
511
24,335
$
9,426
511
9,937
$
1,785
511
2,296
$
$
$
$
$
$
$
2Q11 Change
1Q11
2Q10
%
2011
585
416
1,001
54
13
36
51
23
39
%
$
12,414
416
12,830
12
13
12
20
23
20
12,687
96
12,783
(1)
2
(1)
(7)
26
(6)
$
25,101
512
25,613
6
11
6
7
23
7
$
10,470
512
10,982
8
11
8
(5)
23
(4)
$
2,312
512
2,824
8
11
8
17
23
18
$
$
$
$
$
$
$
$
2010
1,456
961
2,417
$
28,259
961
29,220
$
$
$
23,741
240
23,981
$
52,000
1,201
53,201
$
19,163
1,201
20,364
$
5,198
1,201
6,399
$
$
$
$
$
2011 Change
2010
997
827
1,824
46
16
33
26,375
827
27,202
7
16
7
26,397
186
26,583
(10)
29
(10)
52,772
1,013
53,785
(1)
19
(1)
22,017
1,013
23,030
(13)
19
(12)
3,523
1,013
4,536
48
19
41
Page 7
%

9. JPMORGAN CHASE & CO.
LINE OF BUSINESS FINANCIAL HIGHLIGHTS - MANAGED BASIS
(in millions, except ratio data)
QUARTERLY TRENDS
2Q11
TOTAL NET REVENUE (FTE)
Investment Bank (a)
Retail Financial Services
Card Services
Commercial Banking
Treasury & Securities Services
Asset Management
Corporate/Private Equity (a)
TOTAL NET REVENUE
TOTAL PRE-PROVISION PROFIT
Investment Bank (a)
Retail Financial Services
Card Services
Commercial Banking
Treasury & Securities Services
Asset Management
Corporate/Private Equity (a)
TOTAL PRE-PROVISION PROFIT
NET INCOME/(LOSS)
Investment Bank
Retail Financial Services
Card Services
Commercial Banking
Treasury & Securities Services
Asset Management
Corporate/Private Equity
TOTAL NET INCOME
AVERAGE EQUITY (b)
Investment Bank
Retail Financial Services
Card Services
Commercial Banking
Treasury & Securities Services
Asset Management
Corporate/Private Equity
TOTAL AVERAGE EQUITY
RETURN ON EQUITY (b)
Investment Bank
Retail Financial Services
Card Services
Commercial Banking
Treasury & Securities Services
Asset Management
JPMORGAN CHASE
(a)
(b)
$
$
$
$
$
$
$
$
1Q11
7,314
7,976
3,927
1,627
1,932
2,537
2,097
27,410
$
$
2,982
2,339
2,305
1,064
479
743
656
10,568
$
$
2,057
582
911
607
333
439
502
5,431
$
40,000
28,000
13,000
8,000
7,000
6,500
71,577
174,077
$
21
8
28
30
19
27
12
$
$
%
4Q10
8,233
6,275
3,982
1,516
1,840
2,406
1,539
25,791
$
$
3,217
1,013
2,427
953
463
746
977
9,796
$
2,370
(208)
1,343
546
316
466
722
5,555
$
40,000
28,000
13,000
8,000
7,000
6,500
66,915
169,415
24 %
(3)
42
28
18
29
13
$
$
$
$
YEAR-TO-DATE
3Q10
6,213
8,525
4,246
1,611
1,913
2,613
1,601
26,722
$
$
2,012
3,701
2,732
1,053
443
836
(98)
10,679
$
$
1,501
708
1,299
530
257
507
29
4,831
$
40,000
28,000
15,000
8,000
6,500
6,500
62,812
166,812
$
15
10
34
26
16
31
11
$
$
%
2Q11 Change
1Q11
2Q10
2Q10
5,353
7,646
4,253
1,527
1,831
2,172
1,553
24,335
$
$
1,649
3,129
2,808
967
421
684
279
9,937
$
1,286
907
735
471
251
420
348
4,418
$
40,000
28,000
15,000
8,000
6,500
6,500
59,962
163,962
$
13
13
19
23
15
26
10
$
$
$
%
2011
6,332
7,809
4,217
1,486
1,881
2,068
1,820
25,613
(11) %
27
(1)
7
5
5
36
6
1,810
3,528
2,781
944
482
663
774
10,982
(7)
131
(5)
12
3
(33)
8
65
(34)
(17)
13
(1)
12
(15)
(4)
1,381
1,042
343
693
292
391
653
4,795
(13)
NM
(32)
11
5
(6)
(30)
(2)
49
(44)
166
(12)
14
12
(23)
13
40,000
28,000
15,000
8,000
6,500
6,500
55,069
159,069
14
15
9
35
18
24
12
7
3
%
16 %
2
(7)
9
3
23
15
7
(13)
8
30
9
$
$
$
$
$
$
$
$
2011 Change
2010
2010
15,547
14,251
7,909
3,143
3,772
4,943
3,636
53,201
$
$
6,199
3,352
4,732
2,017
942
1,489
1,633
20,364
$
$
4,427
374
2,254
1,153
649
905
1,224
10,986
$
$
40,000
28,000
13,000
8,000
7,000
6,500
69,259
171,759
22
3
35
29
19
28
13
$
$
%
14,651
15,585
8,664
2,902
3,637
4,199
4,147
53,785
6 %
(9)
(9)
8
4
18
(12)
(1)
5,291
7,062
5,826
1,821
913
1,352
765
23,030
17
(53)
(19)
11
3
10
113
(12)
3,852
911
40
1,083
571
783
881
8,121
15
(59)
NM
6
14
16
39
35
40,000
28,000
15,000
8,000
6,500
6,500
53,590
157,590
(13)
8
29
9
19
7
1
27
18
24
10
%
Corporate/Private Equity includes an adjustment to offset IB's inclusion of a credit allocation income/(expense) to TSS in total net revenue; TSS reports the credit allocation as a separate line on its income statement (not within total net
revenue).
Equity for a line of business represents the amount the Firm believes the business would require if it were operating independently, incorporating sufficient capital to address regulatory capital requirements (including Basel III Tier 1
common capital requirements), economic risk measures, and capital levels for similarly rated peers. Capital is also allocated to each line of business for, among other things, goodwill and other intangibles associated with acquisitions
effected by the line of business. ROE is measured and internal targets for expected returns are established as key measures of a business segment’s performance. Effective January 1, 2011, capital allocated to Card Services was
reduced by $2.0 billion, to $13.0 billion, largely reflecting portfolio runoff and the improving risk profile of the business; capital allocated to Treasury & Securities Services was increased by $500 million, to $7.0 billion, reflecting growth in
the underlying business. The Firm continues to assess the level of capital required for each line of business, as well as the assumptions and methodologies used to allocate capital to the business segments, and further refinements
may be implemented in future periods.
Page 8

10. JPMORGAN CHASE & CO.
INVESTMENT BANK
FINANCIAL HIGHLIGHTS
(in millions, except ratio data)
QUARTERLY TRENDS
2Q11
INCOME STATEMENT
REVENUE
Investment banking fees
Principal transactions
Lending- and deposit-related fees
Asset management, administration and commissions
All other income (a)
Noninterest revenue
Net interest income
TOTAL NET REVENUE (b)
$
Provision for credit losses
1Q11
1,922
2,309
218
548
236
5,233
2,081
7,314
$
(183)
4Q10
1,779
3,398
214
619
166
6,176
2,057
8,233
$
(429)
YEAR-TO-DATE
3Q10
1,833
1,289
209
652
185
4,168
2,045
6,213
$
(271)
2Q11 Change
1Q11
2Q10
2Q10
1,502
1,129
205
565
61
3,462
1,891
5,353
$
(142)
8 %
(32)
2
(11)
42
(15)
1
(11)
1,405
2,105
203
633
86
4,432
1,900
6,332
(325)
2011
37 %
10
7
(13)
174
18
10
16
57
$
44
2011 Change
2010
2010
3,701
5,707
432
1,167
402
11,409
4,138
15,547
$
(612)
2,851
6,036
405
1,196
135
10,623
4,028
14,651
30 %
(5)
7
(2)
198
7
3
6
(787)
22
NONINTEREST EXPENSE
Compensation expense
Noncompensation expense
TOTAL NONINTEREST EXPENSE
2,564
1,768
4,332
3,294
1,722
5,016
1,845
2,356
4,201
2,031
1,673
3,704
2,923
1,599
4,522
(22)
3
(14)
(12)
11
(4)
5,858
3,490
9,348
5,851
3,509
9,360
(1)
-
Income before income tax expense
Income tax expense
NET INCOME
3,165
1,108
2,057
3,646
1,276
2,370
2,283
782
1,501
1,791
505
1,286
2,135
754
1,381
(13)
(13)
(13)
48
47
49
6,811
2,384
4,427
6,078
2,226
3,852
12
7
15
$
FINANCIAL RATIOS
ROE
ROA
Overhead ratio
Compensation expense as a percent of total net revenue (c)
REVENUE BY BUSINESS
Investment banking fees:
Advisory
Equity underwriting
Debt underwriting
Total investment banking fees
Fixed income markets (d)
Equity markets (e)
Credit portfolio (a)(f)
Total net revenue
(a)
(b)
(c)
(d)
(e)
(f)
21
0.98
59
35
$
$
601
455
866
1,922
4,280
1,223
(111)
7,314
$
%
24
1.18
61
40
$
$
429
379
971
1,779
5,238
1,406
(190)
8,233
$
%
15
0.75
68
30
$
$
424
489
920
1,833
2,875
1,128
377
6,213
$
%
13
0.68
69
38
$
$
385
333
784
1,502
3,123
1,135
(407)
5,353
$
%
14
0.78
71
46
$
$
355
354
696
1,405
3,563
1,038
326
6,332
$
%
22
1.08
60
38
40
20
(11)
8
(18)
(13)
42
(11)
69
29
24
37
20
18
NM
16
$
$
1,030
834
1,837
3,701
9,518
2,629
(301)
15,547
$
%
19
1.12
64
40
$
$
660
767
1,424
2,851
9,027
2,500
273
14,651
%
56
9
29
30
5
5
NM
6
IB manages core credit exposures related to the Global Corporate Bank ("GCB") on behalf of IB and TSS. Effective January 1, 2011, IB and TSS will share the economics related to the Firm’s GCB clients. IB recognizes this sharing
arrangement within all other income. Prior-year periods reflected the reimbursement from TSS for a portion of the total costs of managing the credit portfolio on behalf of TSS.
Total net revenue included tax-equivalent adjustments, predominantly due to income tax credits related to affordable housing and alternative energy investments, as well as tax-exempt income from municipal bond investments of $493
million, $438 million, $475 million, $390 million and $401 million for the quarters ended June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively, and $931 million and $804 million for
year-to-date 2011 and 2010, respectively.
The compensation expense as a percentage of total net revenue ratio for the second quarter of 2010 and year-to-date of 2010 excluding the payroll tax expense related to the U.K. Bank Payroll Tax on certain compensation awarded
from December 9, 2009 to April 5, 2010 to relevant banking employees, which is a non-GAAP financial measure, was 37% and 36%, respectively. IB excludes this tax from the ratio because it enables comparability between periods.
Fixed income markets primarily include revenue related to market-making across global fixed income markets, including foreign exchange, interest rate, credit and commodities markets.
Equities markets primarily include revenue related to market-making across global equity products, including cash instruments, derivatives, convertibles and Prime Services.
Credit portfolio revenue includes net interest income, fees and loan sale activity, as well as gains or losses on securities received as part of a loan restructuring, for IB’s credit portfolio. Credit portfolio revenue also includes the results of
risk management related to the Firm’s lending and derivative activities.
Page 9

11. JPMORGAN CHASE & CO.
INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except headcount and ratio data)
QUARTERLY TRENDS
2Q11
SELECTED BALANCE SHEET DATA (period-end)
Loans:
Loans retained (a)
Loans held-for-sale and loans at fair value
Total loans
Equity
SELECTED BALANCE SHEET DATA (average)
Total assets
Trading assets - debt and equity instruments
Trading assets - derivative receivables
Loans:
Loans retained (a)
Loans held-for-sale and loans at fair value
Total loans
Adjusted assets (b)
Equity
Derivative receivables
Assets acquired in loan satisfactions
Total nonperforming assets
Allowance for credit losses:
Allowance for loan losses
Allowance for lending-related commitments
Total allowance for credit losses
Net charge-off/(recovery) rate (a)(d)
Allow. for loan losses to period-end loans retained (a)(d)
Allow. for loan losses to nonaccrual loans retained (a)(c)(d)
Nonaccrual loans to total period-end loans
(a)
(b)
(c)
(d)
4Q10
YEAR-TO-DATE
3Q10
2Q11 Change
1Q11
2Q10
2Q10
6 %
(32)
3
-
2011
$
56,107
3,466
59,573
40,000
$
52,712
5,070
57,782
40,000
$
53,145
3,746
56,891
40,000
$
51,299
2,252
53,551
40,000
$
54,049
3,221
57,270
40,000
$
841,355
374,694
69,346
$
815,828
368,956
67,462
$
792,703
346,990
72,491
$
746,926
300,517
76,530
$
710,005
296,031
65,847
3
2
3
18
27
5
4
8
4
-
%
2011 Change
2010
2010
$
56,107
3,466
59,573
40,000
$
54,049
3,221
57,270
40,000
4 %
8
4
-
$
828,662
371,841
68,409
$
693,157
290,091
65,998
20
28
4
54,590
4,154
58,744
628,475
40,000
$
53,370
3,835
57,205
611,038
40,000
52,502
3,504
56,006
587,307
40,000
53,331
2,678
56,009
539,459
40,000
53,351
3,530
56,881
527,520
40,000
2
8
3
3
-
2
18
3
19
-
53,983
3,995
57,978
619,805
40,000
55,912
3,341
59,253
517,135
40,000
(3)
20
(2)
20
-
27,716
Headcount
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs/(recoveries)
Nonperforming assets:
Nonaccrual loans:
Nonaccrual loans retained (a)(c)
Nonaccrual loans held-for-sale and loans
at fair value
Total nonaccrual loans
1Q11
26,494
26,314
26,373
26,279
5
5
27,716
26,279
5
28
(94)
(75)
7
$
123
$
(23)
$
33
$
$
130
$
725
(82)
1,494
2,388
3,159
2,025
1,926
(37)
(22)
1,494
1,926
(22)
193
1,687
259
2,647
460
3,619
361
2,386
334
2,260
(25)
(36)
(42)
(25)
193
1,687
334
2,260
(42)
(25)
18
83
1,788
21
73
2,741
34
117
3,770
255
148
2,789
315
151
2,726
(14)
14
(35)
(94)
(45)
(34)
18
83
1,788
315
151
2,726
(94)
(45)
(34)
1,178
383
1,561
1,330
424
1,754
1,863
447
2,310
1,976
570
2,546
2,149
564
2,713
(11)
(10)
(11)
(45)
(32)
(42)
1,178
383
1,561
2,149
564
2,713
(45)
(32)
(42)
0.05
2.10
79
2.83
%
0.93
2.52
56
4.58
%
(0.17) %
3.51
59
6.36
0.25
3.85
98
4.46
%
0.21
3.98
112
3.95
%
0.49
2.10
79
2.83
%
2.61
3.98
112
3.95
%
Loans retained included credit portfolio loans, leveraged leases and other accrual loans, and excluded loans held-for-sale and loans at fair value.
Adjusted assets, a non-GAAP financial measure, is presented to assist the reader in comparing IB’s asset and capital levels to those of other investment banks in the securities industry. For further discussion of adjusted assets, see
page 43.
Allowance for loan losses of $377 million, $567 million, $1.1 billion, $603 million and $617 million were held against these nonaccrual loans at June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30,
2010, respectively.
Loans held-for-sale and loans at fair value were excluded when calculating the allowance coverage ratio and net charge-off/(recovery) rate.
Page 10

12. JPMORGAN CHASE & CO.
INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio and rankings data)
QUARTERLY TRENDS
2Q11
MARKET RISK - AVERAGE TRADING AND CREDIT
PORTFOLIO VAR - 95% CONFIDENCE LEVEL
Trading activities:
Fixed income
Foreign exchange
Equities
Commodities and other
Diversification (a)
Total trading VaR (b)
Credit portfolio VaR (c)
Diversification (a)
Total trading and credit portfolio VaR
MARKET SHARES AND RANKINGS (d)
Global investment banking fees (e)
Debt, equity and equity-related
Global
U.S.
Syndicated loans
Global
U.S.
Long-term debt (f)
Global
U.S.
Equity and equity-related
Global (g)
U.S.
Announced M&A (h)
Global
U.S.
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
$
$
1Q11
45
9
25
16
(37)
58
27
(8)
77
$
4Q10
49
11
29
13
(38)
64
26
(7)
83
$
June 30, 2011 YTD
Market
Rankings
Share
8.8 %
#1
$
$
53
10
23
14
(38)
62
26
(10)
78
YEAR-TO-DATE
3Q10
$
72
9
21
13
(38)
77
30
(8)
99
$
2Q11 Change
1Q11
2Q10
2Q10
$
$
64
10
20
20
(42)
72
27
(9)
90
(8) %
(18)
(14)
23
3
(9)
(30) %
(10)
25
(20)
12
(19)
4
(14)
(7)
11
(14)
2011
$
$
2011 Change
2010
2010
47
10
27
15
(38)
61
27
(8)
80
$
$
66
12
22
18
(46)
72
23
(9)
86
(29) %
(17)
23
(17)
17
(15)
17
11
(7)
Full Year 2010
Market
Rankings
Share
7.6 %
#1
6.9
11.5
1
1
7.2
11.1
1
1
12.4
22.8
1
1
8.5
19.2
2
2
6.8
11.5
2
1
7.2
10.9
2
2
7.2
11.9
3
2
7.3
13.1
3
2
20.5
33.9
2
1
16.4
23.1
3
3
Average value-at-risk (“ VaR”) was less than the sum of the VaR of the components described above, which is due to portfolio diversification. The diversification effect reflects the fact that the risks were not perfectly correlated. The
risk of a portfolio of positions is therefore usually less than the sum of the risks of the positions themselves.
Trading VaR includes substantially all trading activities in IB, including the credit spread sensitivities of certain mortgage products and syndicated lending facilities that the Firm intends to distribute; however, particular risk parameters
of certain products are not fully captured, for example, correlation risk. Trading VaR does not include the debit valuation adjustments ("DVA") taken on derivative and structured liabilities to reflect the credit quality of the Firm.
Credit portfolio VaR includes the derivative credit valuation adjustments ("CVA"), hedges of the CVA and mark-to-market (“MTM”) hedges of the retained loan portfolio, which are all reported in principal transactions revenue. This VaR
does not include the retained loan portfolio, which is not MTM.
Source: Dealogic. Global Investment Banking fees reflects the ranking of fees and market share. Remainder of rankings reflects transaction volume rank and market share.
Global IB fees exclude money market, short-term debt and shelf deals.
Long-term debt tables include investment-grade, high-yield, supranationals, sovereigns, agencies, covered bonds, asset-backed securities and mortgage-backed securities; and exclude money market, short-term debt, and U.S.
municipal securities.
Equity and equity-related rankings include rights offerings and Chinese A-Shares.
Global announced M&A is based on transaction value at announcement; all other rankings are based on transaction proceeds, with full credit to each book manager/equal if joint. Because of joint assignments, market share of all
participants will add up to more than 100%. M&A for year-to-date 2011 and full year 2010 reflects the removal of any withdrawn transactions. U.S. announced M&A represents any U.S. involvement ranking.
Page 11

13. JPMORGAN CHASE & CO.
INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions)
QUARTERLY TRENDS
2Q11
INTERNATIONAL METRICS
Total net revenue: (a)
Asia/Pacific
Latin America/Caribbean
Europe/Middle East/Africa
North America
Total net revenue
Loans (period-end): (b)
Asia/Pacific
Latin America/Caribbean
Europe/Middle East/Africa
North America
Total loans
(a)
(b)
$
$
$
$
762
337
2,478
3,737
7,314
6,211
2,633
15,370
31,893
56,107
1Q11
$
$
$
$
4Q10
1,122
327
2,592
4,192
8,233
$
5,472
2,190
14,059
30,991
52,712
$
$
$
927
172
1,423
3,691
6,213
5,924
2,200
13,961
31,060
53,145
YEAR-TO-DATE
3Q10
$
$
$
$
993
167
1,538
2,655
5,353
5,595
1,545
12,781
31,378
51,299
2Q10
$
$
$
$
901
248
1,544
3,639
6,332
5,697
1,763
12,959
33,630
54,049
2Q11 Change
1Q11
2Q10
(32) %
3
(4)
(11)
(11)
14
20
9
3
6
2011
(15) %
36
60
3
16
9
49
19
(5)
4
$
$
$
$
1,884
664
5,070
7,929
15,547
6,211
2,633
15,370
31,893
56,107
2010
$
$
$
$
2011 Change
2010
1,889
558
4,419
7,785
14,651
- %
19
15
2
6
5,697
1,763
12,959
33,630
54,049
9
49
19
(5)
4
Regional revenues are based primarily on the domicile of the client and/or location of the trading desk.
Includes retained loans based on the domicile of the customer. Excludes loans held-for-sale and loans at fair value.
Page 12

14. JPMORGAN CHASE & CO.
RETAIL FINANCIAL SERVICES
FINANCIAL HIGHLIGHTS
(in millions, except ratio and headcount data)
QUARTERLY TRENDS
2Q11
INCOME STATEMENT
REVENUE
Lending- and deposit-related fees
Asset management, administration and commissions
Mortgage fees and related income
Credit card income
Other income
Noninterest revenue
Net interest income
TOTAL NET REVENUE (a)
$
1Q11
823
501
1,100
572
409
3,405
4,571
7,976
$
4Q10
746
487
(489)
537
364
1,645
4,630
6,275
$
YEAR-TO-DATE
3Q10
737
456
1,609
524
370
3,696
4,829
8,525
$
2Q11 Change
1Q11
2Q10
2Q10
759
443
705
502
379
2,788
4,858
7,646
$
780
433
886
480
413
2,992
4,817
7,809
10 %
3
NM
7
12
107
(1)
27
2011
6 %
16
24
19
(1)
14
(5)
2
$
2011 Change
2010
2010
1,569
988
611
1,109
773
5,050
9,201
14,251
$
1,621
885
1,541
930
767
5,744
9,841
15,585
(3) %
12
(60)
19
1
(12)
(7)
(9)
Provision for credit losses
1,128
1,326
2,456
1,548
1,715
(15)
(34)
2,454
5,448
(55)
NONINTEREST EXPENSE
Compensation expense
Noncompensation expense
Amortization of intangibles
TOTAL NONINTEREST EXPENSE
2,030
3,547
60
5,637
1,971
3,231
60
5,262
1,905
2,851
68
4,824
1,915
2,533
69
4,517
1,842
2,369
70
4,281
3
10
7
10
50
(14)
32
4,001
6,778
120
10,899
3,612
4,771
140
8,523
11
42
(14)
28
Income/(loss) before income tax expense/(benefit)
Income tax expense/(benefit)
NET INCOME/(LOSS)
1,211
629
582
1,245
537
708
1,581
674
907
1,813
771
1,042
NM
NM
NM
(33)
(18)
(44)
898
524
374
1,614
703
911
(44)
(25)
(59)
$
FINANCIAL RATIOS
ROE
Overhead ratio
Overhead ratio excluding core deposit intangibles (b)
SELECTED BALANCE SHEET DATA (period-end)
Assets
Loans:
Loans retained
Loans held-for-sale and loans at fair value (c)
Total loans
Deposits
Equity
SELECTED BALANCE SHEET DATA (average)
Assets
Loans:
Loans retained
Loans held-for-sale and loans at fair value (c)
Total loans
Deposits
Equity
Headcount
(a)
(b)
(c)
8
71
70
$
349,182
$
%
(313)
(105)
(208)
$
(3) %
84
83
$
355,394
10
57
56
$
366,841
$
%
13
59
58
$
367,675
$
%
15
55
54
$
$
%
3
76
76
$
349,182
$
%
7
55
54
$
%
375,329
(2)
(7)
375,329
(7)
301,926
13,558
315,484
379,376
28,000
308,827
12,234
321,061
380,494
28,000
316,725
14,863
331,588
370,819
28,000
323,481
13,071
336,552
364,186
28,000
330,329
12,599
342,928
359,974
28,000
(2)
11
(2)
-
(9)
8
(8)
5
-
301,926
13,558
315,484
379,376
28,000
330,329
12,599
342,928
359,974
28,000
(9)
8
(8)
5
-
352,836
364,266
373,883
375,968
381,906
(3)
(8)
358,520
387,854
(8)
305,131
14,613
319,744
379,848
28,000
312,543
17,519
330,062
372,634
28,000
320,407
18,883
339,290
367,920
28,000
326,905
15,683
342,588
362,559
28,000
335,308
14,426
349,734
362,010
28,000
(2)
(17)
(3)
2
-
(9)
1
(9)
5
-
308,816
16,058
324,874
376,261
28,000
339,131
15,734
354,865
359,486
28,000
(9)
2
(8)
5
-
127,837
123,550
121,876
119,424
116,879
3
9
127,837
116,879
9
Total net revenue included tax-equivalent adjustments associated with tax-exempt loans to municipalities and other qualified entities of $2 million, $3 million, $1 million, $4 million and $5 million for the quarters ended June 30, 2011,
March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively, and $5 million and $10 million for year-to-date 2011 and 2010, respectively.
Retail Financial Services uses the overhead ratio (excluding the amortization of core deposit intangibles ("CDI")), a non-GAAP financial measure, to evaluate the underlying expense trends of the business. Including CDI amortization
expense in the overhead ratio calculation would result in a higher overhead ratio in the earlier years and a lower overhead ratio in later years; this method would therefore result in an improving overhead ratio over time, all things
remaining equal. The non-GAAP ratio excludes Retail Banking's CDI amortization expense related to prior business combination transactions of $60 million, $60 million, $68 million, $69 million and $69 million for the quarters ended
June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively, and $120 million and $139 million for year-to-date 2011 and 2010, respectively.
Loans at fair value consist of prime mortgages originated with the intent to sell that are accounted for at fair value and classified as trading assets on the Consolidated Balance Sheets. These loans totaled $13.3 billion, $12.0 billion,
$14.7 billion, $12.6 billion and $12.2 billion at June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively. Average balances of these loans totaled $14.5 billion, $17.4 billion, $18.7
billion, $15.3 billion and $12.5 billion for the quarters ended June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively, and $16.0 billion and $13.3 billion for year-to-date 2011 and
2010, respectively.
Page 13

15. JPMORGAN CHASE & CO.
RETAIL FINANCIAL SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data)
QUARTERLY TRENDS
2Q11
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs
Nonaccrual loans:
Nonaccrual loans retained
Nonaccrual loans held-for-sale and loans
at fair value
Total nonaccrual loans (a)(b)(c)
Nonperforming assets (a)(b)(c)
Allowance for loan losses
Net charge-off rate (d)
Net charge-off rate excluding purchased credit-impaired
("PCI") loans (d)(e)
Allowance for loan losses to ending loans retained (d)
Allowance for loan losses to ending loans retained
excluding PCI loans (d)(e)
Allowance for loan losses to nonaccrual loans
retained (a)(d)(e)
Nonaccrual loans to total loans
Nonaccrual loans to total loans excluding PCI loans (a)
(a)
(b)
(c)
(d)
(e)
$
1Q11
1,223
$
4Q10
1,326
$
YEAR-TO-DATE
3Q10
2,159
$
2Q11 Change
1Q11
2Q10
2Q10
1,548
$
(8) %
1,761
(31) %
2011
$
2011 Change
2010
2010
2,549
$
4,199
(39) %
8,273
8,499
8,768
9,801
10,457
(3)
(21)
8,273
10,457
(21)
142
8,415
9,406
16,358
150
8,649
9,905
16,453
145
8,913
10,266
16,453
166
9,967
11,421
16,154
176
10,633
11,907
16,152
(5)
(3)
(5)
(1)
(19)
(21)
(21)
1
142
8,415
9,406
16,358
176
10,633
11,907
16,152
(19)
(21)
(21)
1
1.61
%
1.72
%
2.67
%
1.88
%
2.11
%
1.66
%
2.50
2.08
5.42
2.23
5.33
3.47
5.19
2.44
4.99
2.75
4.89
2.16
5.42
3.26
4.89
4.90
4.84
4.72
5.36
5.26
4.90
5.26
138
2.67
3.41
135
2.69
3.46
131
2.69
3.44
136
2.96
3.81
128
3.10
4.00
138
2.67
3.41
%
128
3.10
4.00
Excludes PCI loans that were acquired as part of the Washington Mutual transaction, which are accounted for on a pool basis. Since each pool is accounted for as a single asset with a single composite interest rate and an aggregate
expectation of cash flows, the past-due status of the pools, or that of the individual loans within the pools, is not meaningful. Because the Firm is recognizing interest income on each pool of loans, they are all considered to be
performing.
Certain of these loans are classified as trading assets on the Consolidated Balance Sheets.
At June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, nonperforming assets excluded: (1) mortgage loans insured by U.S. government agencies of $9.1 billion, $8.8 billion, $9.4 billion, $9.2
billion and $8.9 billion, respectively, that are 90 or more days past due; (2) real estate owned insured by U.S. government agencies of $2.4 billion, $2.3 billion, $1.9 billion, $1.7 billion and $1.4 billion, respectively; and (3) student loans
insured by U.S. government agencies under the Federal Family Education Loan Program (“FFELP”) of $558 million, $615 million, $625 million, $572 million and $447 million, respectively, that are 90 or more days past due. These
amounts are excluded as reimbursement of insured amounts is proceeding normally.
Loans held-for-sale and loans accounted for at fair value were excluded when calculating the allowance coverage ratio and the net charge-off rate.
Excludes the impact of PCI loans that were acquired as part of the Washington Mutual transaction. These loans were accounted for at fair value on the acquisition date, which incorporated management's estimate, as of that date, of
credit losses over the remaining life of the portfolio. An allowance for loan losses of $4.9 billion, $4.9 billion, $4.9 billion, $2.8 billion and $2.8 billion was recorded for these loans at June 30, 2011, March 31, 2011, December 31, 2010,
September 30, 2010 and June 30, 2010, respectively, which has also been excluded from the applicable ratios. To date, no charge-offs have been recorded for these loans.
Page 14

16. JPMORGAN CHASE & CO.
RETAIL FINANCIAL SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data and where otherwise noted)
QUARTERLY TRENDS
2Q11
RETAIL BANKING
Noninterest revenue
Net interest income
Total net revenue
Provision for credit losses
Noninterest expense
Income before income tax expense
Net income
$
$
Overhead ratio
Overhead ratio excluding core deposit intangibles (a)
BUSINESS METRICS (in billions, except where otherwise noted)
Business banking origination volume (in millions)
End-of-period loans owned
End-of-period deposits:
Checking
Savings
Time and other
Total end-of-period deposits
Average loans owned
Average deposits:
Checking
Savings
Time and other
Total average deposits
Deposit margin
Average assets
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs
Net charge-off rate
Nonperforming assets
1Q11
1,887
2,707
4,594
42
2,705
1,847
1,102
59
58
$
$
$
%
1,573
17.1
4Q10
1,756
2,659
4,415
119
2,802
1,494
891
63
62
$
$
$
%
1,425
17.0
1,715
2,693
4,408
73
2,668
1,667
954
61
59
$
YEAR-TO-DATE
3Q10
$
$
%
1,435
16.8
1,691
2,745
4,436
175
2,779
1,482
848
63
61
$
2Q11 Change
1Q11
2Q10
2Q10
$
$
%
1,126
16.6
60
58
$
7 %
2
4
(65)
(3)
24
24
1,684
2,712
4,396
168
2,633
1,595
914
2011
12 %
5
(75)
3
16
21
$
$
%
3,643
5,366
9,009
161
5,507
3,341
1,993
61
60
1,222
16.6
10
1
29
3
$
2011 Change
2010
2010
$
$
%
2,998
17.1
3,386
5,347
8,733
359
5,210
3,164
1,812
60
58
$
8 %
3
(55)
6
6
10
%
2,127
16.6
41
3
136.3
178.1
41.9
356.3
17.1
137.4
176.3
44.0
357.7
16.9
131.7
166.6
45.9
344.2
16.6
124.2
162.4
48.9
335.5
16.6
123.5
161.8
50.5
335.8
16.7
(1)
1
(5)
1
10
10
(17)
6
2
136.3
178.1
41.9
356.3
17.0
123.5
161.8
50.5
335.8
16.8
10
10
(17)
6
1
$
123.5
162.2
49.8
335.5
3.08
27.7
$
123.6
162.8
51.4
337.8
3.05
28.4
$
134.3
174.0
44.0
352.3
2.89
28.5
$
121.7
160.7
53.5
335.9
3.03
28.7
10
8
(18)
5
$
126.6
164.7
47.4
338.7
3.00
28.3
10
9
(16)
6
$
132.0
171.1
45.0
348.1
2.92
28.7
3
3
(4)
2
$
136.5
176.8
43.1
356.4
2.87
28.3
$
117
2.74
784
$
119
2.86
822
$
173
4.13
846
$
175
4.18
913
$
168
4.04
920
$
236
2.80
784
$
359
4.31
920
%
%
%
%
%
%
%
%
%
(1)
(2)
-
(30)
%
(5)
(15)
%
%
%
(1)
(34)
%
(15)
RETAIL BRANCH BUSINESS METRICS
Investment sales volume
6,334
6,584
6,069
5,798
5,756
(4)
10
12,918
11,712
10
Number of:
Branches
ATMs
Personal bankers
Sales specialists
Active online customers (in thousands)
Checking accounts (in thousands)
5,340
16,443
23,308
7,630
18,085
26,266
5,292
16,265
21,875
7,336
18,318
26,622
5,268
16,145
21,715
7,196
17,744
27,252
5,192
15,815
21,438
7,123
17,167
27,014
5,159
15,654
20,170
6,785
16,584
26,351
1
1
7
4
(1)
(1)
4
5
16
12
9
-
5,340
16,443
23,308
7,630
18,085
26,266
5,159
15,654
20,170
6,785
16,584
26,351
4
5
16
12
9
-
(a)
Retail Banking uses the overhead ratio (excluding the amortization of CDI), a non-GAAP financial measure, to evaluate the underlying expense trends of the business. Including CDI amortization expense in the overhead ratio
calculation would result in a higher overhead ratio in the earlier years and a lower overhead ratio in later years; this method would therefore result in an improving overhead ratio over time, all things remaining equal. The non-GAAP ratio
excludes Retail Banking's CDI amortization expense related to prior business combination transactions of $60 million, $60 million, $68 million, $69 million and $69 million for the quarters ended June 30, 2011, March 31, 2011,
December 31, 2010, September 30, 2010 and June 30, 2010, respectively, and $120 million and $139 million for year-to-date 2011 and 2010, respectively.
Page 15

17. JPMORGAN CHASE & CO.
RETAIL FINANCIAL SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data and where otherwise noted)
QUARTERLY TRENDS
2Q11
MORTGAGE BANKING, AUTO & OTHER CONSUMER LENDING
$
Noninterest revenue
Net interest income
Total net revenue
Provision for credit losses
Noninterest expense
Income/(loss) before income tax expense/(benefit)
Net income/(loss)
$
Overhead ratio
BUSINESS METRICS (in billions)
End-of-period loans owned:
Auto
Prime mortgage, including option ARMs (a)
Student and other
Total end-of-period loans owned
Average loans owned:
Auto
Prime mortgage, including option ARMs (a)
Student and other
Total average loans owned (b)
(c)
(d)
(e)
(f)
(g)
$
%
46.8
14.3
14.0
75.1
(119)
815
696
131
2,105
(1,540)
(937)
302
$
$
$
%
47.4
14.1
14.3
75.8
1,971
817
2,788
46
1,743
999
577
63
$
YEAR-TO-DATE
3Q10
$
$
%
48.4
14.2
14.4
77.0
1,076
809
1,885
176
1,348
361
207
72
$
2Q11 Change
1Q11
2Q10
2Q10
$
$
%
48.2
13.8
14.6
76.6
61
$
NM %
(18)
211
1
22
66
52
1,256
792
2,048
175
1,243
630
364
2011
19 %
(16)
6
(25)
106
NM
NM
$
$
%
1,379
1,482
2,861
263
4,666
(2,068)
(1,391)
163
47.5
13.2
15.1
75.8
(1)
1
(2)
(1)
(1)
8
(7)
(1)
$
2011 Change
2010
2010
$
$
%
46.8
14.3
14.0
75.1
2,274
1,685
3,959
392
2,489
1,078
621
63
$
(39) %
(12)
(28)
(33)
87
NM
NM
%
47.5
13.2
15.1
75.8
(1)
8
(7)
(1)
47.7
14.0
14.4
76.1
48.3
13.9
14.6
76.8
47.7
13.6
14.8
76.1
47.5
13.6
16.7
77.8
(1)
1
(2)
(1)
(1)
4
(16)
(3)
47.3
14.1
14.3
75.7
47.2
13.0
17.6
77.8
8
(19)
(3)
19
(2)
135
152
Net charge-off/(recovery) rate:
Auto
Prime mortgage, including option ARMs
Student and other
Total net charge-off rate (b)
(a)
(b)
$
4Q10
47.0
14.1
14.1
75.2
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs/(recoveries):
Auto
Prime mortgage, including option ARMs
Student and other
Total net charge-offs
30+ day delinquency rate (c)(d)(e)
Nonperforming assets (f)(g)
1,498
667
2,165
132
2,561
(528)
(454)
118
$
1Q11
47
4
80
131
71
12
114
197
67
10
82
159
58
13
150
221
(60)
NM
69
16
(67)
NM
(10)
(31)
66
2
215
283
160
19
214
393
(59)
(89)
(28)
0.16 %
(0.06)
3.84
0.81
$
1.55
893
0.40
0.12
2.25
0.70
$
1.59
931
%
0.58
0.35
3.10
1.02
$
1.68
996
%
0.56
0.30
2.21
0.83
$
1.55
1,052
%
0.49
0.39
4.04
1.17
$
1.43
1,013
%
0.28
0.03
3.03
0.75
(4)
(12)
$
1.55
893
%
0.68
0.30
2.80
1.05
$
%
1.42
1,013
(12)
Predominantly represents prime loans repurchased from Government National Mortgage Association (“Ginnie Mae”) pools, which are insured by U.S. government agencies.
Total average loans owned includes loans held-for-sale of $76 million, $133 million, $192 million, $338 million and $1.9 billion for the quarters ended June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and
June 30, 2010, respectively, and $104 million and $2.4 billion for year-to-date 2011 and 2010, respectively. These amounts are excluded when calculating the net charge-off rate.
Total end-of-period loans owned includes loans held-for-sale of $221 million, $188 million, $154 million, $467 million and $434 million for the quarters ended June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010
and June 30, 2010, respectively. These amounts are excluded when calculating the 30+ day delinquency rate.
Excludes mortgage loans insured by U.S. government agencies of $10.1 billion, $9.5 billion, $10.3 billion, $10.2 billion and $9.8 billion at June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010,
respectively, that are 30 or more days past due. These amounts are excluded as reimbursement of insured amounts is proceeding normally.
Excludes student loans insured by U.S. government agencies under the FFELP of $968 million, $1.0 billion, $1.1 billion, $1.0 billion and $988 million at June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and
June 30, 2010, respectively, that are 30 or more days past due. These amounts are excluded as reimbursement of insured amounts is proceeding normally.
At June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, nonperforming assets excluded: (1) mortgage loans insured by U.S. government agencies of $9.1 billion, $8.8 billion, $9.4 billion,
$9.2 billion and $8.9 billion, respectively, that are 90 or more days past due; (2) real estate owned insured by U.S. government agencies of $2.4 billion, $2.3 billion, $1.9 billion, $1.7 billion and $1.4 billion, respectively; and (3)
student loans insured by U.S. government agencies under the FFELP of $558 million, $615 million, $625 million, $572 million and $447 million, respectively, that are 90 or more days past due. These amounts are excluded as
reimbursement of insured amounts is proceeding normally.
During the third quarter of 2010, $147 million of nonperforming assets pertaining to the second quarter of 2010 were reclassified from Real Estate Portfolios to Mortgage Banking, Auto & Other Consumer Lending.
Page 16

18. JPMORGAN CHASE & CO.
RETAIL FINANCIAL SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in billions, except ratio data and where otherwise noted)
QUARTERLY TRENDS
2Q11
MORTGAGE BANKING, AUTO & OTHER CONSUMER
LENDING (continued)
Origination volume:
Mortgage origination volume by channel
Retail
Wholesale (a)
Correspondent (a)
CNT (negotiated transactions)
Total mortgage origination volume
Student
Auto
$
Application volume:
Mortgage application volume by channel
Retail
Wholesale (a)
Correspondent (a)
Total mortgage application volume
(a)
(b)
(c)
20.7
0.1
10.3
2.9
34.0
5.4
$
4Q10
21.0
0.2
13.5
1.5
36.2
0.1
4.8
$
YEAR-TO-DATE
3Q10
22.9
0.3
25.5
2.1
50.8
4.8
$
19.2
0.2
19.1
2.4
40.9
0.2
6.1
$
15.3
0.4
14.7
1.8
32.2
0.1
5.8
31.3
0.3
13.6
45.2
32.4
0.4
24.9
57.7
34.6
0.6
30.7
65.9
17.5
128.4
3.2
955.0
958.7
13.1
18.9
130.3
3.0
967.5
981.7
13.6
15.6
125.8
3.0
1,012.7
1,028.6
10.3
(1) %
(50)
(24)
93
(6)
NM
13
27.8
0.6
23.5
51.9
14.6
124.4
3.2
940.8
947.0
12.2
12.6
123.2
2.0
1,055.2
1,063.7
11.8
1.30
%
1.37
0.43
3.02x
$
2Q11 Change
1Q11
2Q10
2Q10
33.6
0.3
14.9
48.8
Average mortgage loans held-for-sale and loans
at fair value (b)
Average assets
Repurchase reserve (ending)
Third-party mortgage loans serviced (ending)
Third-party mortgage loans serviced (average)
MSR net carrying value (ending)
Ratio of MSR net carrying value (ending) to third-party
mortgage loans serviced (ending)
Ratio of annualized loan servicing revenue to third-party
mortgage loans serviced (average)
MSR revenue multiple (c)
SUPPLEMENTAL MORTGAGE FEES AND
RELATED INCOME DETAILS (in millions)
Net production revenue:
Production revenue
Repurchase losses
Net production revenue
Net mortgage servicing revenue:
Operating revenue:
Loan servicing revenue
Other changes in MSR asset fair value
Total operating revenue
Risk management:
Changes in MSR asset fair value due to inputs or
assumptions in model
Derivative valuation adjustments and other
Total risk management
Total net mortgage servicing revenue
Mortgage fees and related income
1Q11
767
(223)
544
%
1.41
0.45
3.04x
$
679
(420)
259
%
1.02
0.46
3.07x
$
1,098
(349)
749
%
1.12
0.44
2.32x
$
1,233
(1,464)
(231)
35 %
(75)
(30)
61
6
NM
(7)
2011
$
676
(667)
9
41.7
0.3
23.8
4.4
70.2
0.1
10.2
$
26.7
0.8
30.7
5.7
63.9
1.7
12.1
56 %
(63)
(22)
(23)
10
(94)
(16)
7
10
8
21
(50)
(37)
(6)
64.9
0.6
28.5
94.0
48.1
1.4
41.7
91.2
35
(57)
(32)
3
(17)
(3)
(1)
(1)
(7)
16
1
60
(11)
(11)
3
16.1
126.4
3.2
940.8
952.9
12.2
13.5
124.0
2.0
1,055.2
1,070.1
11.8
19
2
60
(11)
(11)
3
%
1.30
0.45
2.49x
$
2011 Change
2010
2010
%
1.12
0.44
2.95x
13
47
110
13
67
NM
$
1,446
(643)
803
%
0.43
2.60x
$
1,109
(1,099)
10
30
41
NM
1,011
(478)
533
$
1,052
(563)
489
1,129
(555)
574
1,153
(604)
549
1,186
(620)
566
(4)
15
9
(15)
23
(6)
2,063
(1,041)
1,022
2,293
(1,225)
1,068
(10)
15
(4)
(960)
983
23
556
1,100
(751)
(486)
(1,237)
(748)
(489)
2,909
(2,623)
286
860
1,609
(1,497)
1,884
387
936
705
(3,584)
3,895
311
877
886
(28)
NM
NM
NM
NM
73
(75)
(93)
(37)
24
(1,711)
497
(1,214)
(192)
611
(3,680)
4,143
463
1,531
1,541
54
(88)
NM
NM
(60)
$
$
$
$
$
$
Includes rural housing loans sourced through brokers and correspondents, which are underwritten under U.S. Department of Agriculture guidelines.
Loans at fair value consist of prime mortgages originated with the intent to sell that are accounted for at fair value and classified as trading assets on the Consolidated Balance Sheets. Average balances of these loans totaled $14.5
billion, $17.4 billion, $18.7 billion, $15.3 billion and $12.5 billion for the quarters ended June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively, and $16.0 billion and $13.3 billion for
year-to-date 2011 and 2010, respectively.
Represents the ratio of MSR net carrying value (ending) to third-party mortgage loans serviced (ending) divided by the ratio of annualized loan servicing revenue to third-party mortgage loans serviced (average).
Page 17

19. JPMORGAN CHASE & CO.
RETAIL FINANCIAL SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data and where otherwise noted)
QUARTERLY TRENDS
2Q11
REAL ESTATE PORTFOLIOS
Noninterest revenue
Net interest income
Total net revenue
Provision for credit losses
Noninterest expense
Income/(loss) before income tax expense/(benefit)
Net income/(loss)
$
$
Overhead ratio
BUSINESS METRICS (in billions)
LOANS EXCLUDING PCI LOANS (a)
End-of-period loans owned:
Home equity
Prime mortgage, including option ARMs
Subprime mortgage
Other
Total end-of-period loans owned
Average loans owned:
Home equity
Prime mortgage, including option ARMs
Subprime mortgage
Other
Total average loans owned
PCI LOANS (a)
End-of-period loans owned:
Home equity
Prime mortgage
Subprime mortgage
Option ARMs
Total end-of-period loans owned
Average loans owned:
Home equity
Prime mortgage
Subprime mortgage
Option ARMs
Total average loans owned
TOTAL REAL ESTATE PORTFOLIOS
End-of-period loans owned:
Home equity
Prime mortgage, including option ARMs
Subprime mortgage
Other
Total end-of-period loans owned
Average loans owned:
Home equity
Prime mortgage, including option ARMs
Subprime mortgage
Other
Total average loans owned
Average assets
Home equity origination volume
(a)
1Q11
20
1,197
1,217
954
371
(108)
(66)
30
$
82.7
47.0
10.4
0.8
140.9
$
$
%
4Q10
8
1,156
1,164
1,076
355
(267)
(162)
30
$
85.3
48.5
10.8
0.8
145.4
$
$
%
10
1,319
1,329
2,337
413
(1,421)
(823)
31
$
YEAR-TO-DATE
3Q10
88.4
49.8
11.3
0.8
150.3
$
$
%
$
21
1,304
1,325
1,197
390
(262)
(148)
29
$
2Q11 Change
1Q11
2Q10
2Q10
91.7
51.3
12.0
0.9
155.9
$
%
30
$
150 %
4
5
(11)
5
60
59
52
1,313
1,365
1,372
405
(412)
(236)
(62) %
(9)
(11)
(30)
(8)
74
72
2011
$
$
%
28
2,353
2,381
2,030
726
(375)
(228)
30
94.8
53.1
12.6
1.0
161.5
(3)
(3)
(4)
(3)
(13)
(11)
(17)
(20)
(13)
$
2011 Change
2010
2010
82.7
47.0
10.4
0.8
140.9
$
$
%
84
2,809
2,893
4,697
824
(2,628)
(1,522)
28
$
(67) %
(16)
(18)
(57)
(12)
86
85
%
94.8
53.1
12.6
1.0
161.5
(13)
(11)
(17)
(20)
(13)
84.0
47.6
10.7
0.8
143.1
86.9
49.3
11.1
0.8
148.1
90.2
50.7
11.8
0.9
153.6
93.3
52.2
12.3
1.0
158.8
96.3
54.3
13.1
1.0
164.7
(3)
(3)
(4)
(3)
(13)
(12)
(18)
(20)
(13)
85.5
48.4
10.9
0.8
145.6
97.9
55.5
13.4
1.0
167.8
(13)
(13)
(19)
(20)
(13)
23.5
16.2
5.2
24.1
69.0
24.0
16.7
5.3
24.8
70.8
24.5
17.3
5.4
25.6
72.8
25.0
17.9
5.5
26.4
74.8
25.5
18.5
5.6
27.3
76.9
(2)
(3)
(2)
(3)
(3)
(8)
(12)
(7)
(12)
(10)
23.5
16.2
5.2
24.1
69.0
25.5
18.5
5.6
27.3
76.9
(8)
(12)
(7)
(12)
(10)
23.7
16.5
5.2
24.4
69.8
24.2
17.0
5.3
25.1
71.6
24.7
17.6
5.4
25.9
73.6
25.2
18.2
5.6
26.7
75.7
25.7
18.8
5.8
27.7
78.0
(2)
(3)
(2)
(3)
(3)
(8)
(12)
(10)
(12)
(11)
23.9
16.7
5.3
24.8
70.7
26.0
19.1
5.8
28.2
79.1
(8)
(13)
(9)
(12)
(11)
106.2
87.3
15.6
0.8
209.9
109.3
90.0
16.1
0.8
216.2
112.9
92.7
16.7
0.8
223.1
116.7
95.6
17.5
0.9
230.7
120.3
98.9
18.2
1.0
238.4
(3)
(3)
(3)
(3)
(12)
(12)
(14)
(20)
(12)
106.2
87.3
15.6
0.8
209.9
120.3
98.9
18.2
1.0
238.4
(12)
(12)
(14)
(20)
(12)
107.7
88.5
15.9
0.8
212.9
200.1
0.3
111.1
91.4
16.4
0.8
219.7
207.2
0.2
114.9
94.2
17.2
0.9
227.2
215.3
0.3
118.5
97.1
17.9
1.0
234.5
222.5
0.3
122.0
100.8
18.9
1.0
242.7
230.3
0.3
(3)
(3)
(3)
(3)
(3)
50
(12)
(12)
(16)
(20)
(12)
(13)
-
109.4
89.9
16.2
0.8
216.3
203.6
0.5
123.9
102.8
19.2
1.0
246.9
235.2
0.6
(12)
(13)
(16)
(20)
(12)
(13)
(17)
PCI loans represent loans acquired in the Washington Mutual transaction for which a deterioration in credit quality occurred between the origination date and JPMorgan Chase’s acquisition date. These loans were initially recorded at
fair value and accrete interest income over the estimated lives of the loans as long as cash flows are reasonably estimable, even if the underlying loans are contractually past due.
Page 18

20. JPMORGAN CHASE & CO.
RETAIL FINANCIAL SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data)
QUARTERLY TRENDS
2Q11
REAL ESTATE PORTFOLIOS (continued)
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs excluding PCI loans (a)(b)
Home equity
Prime mortgage, including option ARMs
Subprime mortgage
Other
Total net charge-offs
Net charge-off rate excluding PCI loans (a)(b)
Home equity
Prime mortgage, including option ARMs
Subprime mortgage
Other
Total net charge-off rate excluding PCI loans
Net charge-off rate - reported
Home equity
Prime mortgage, including option ARMs
Subprime mortgage
Other
Total net charge-off rate - reported
30+ day delinquency rate excluding PCI loans (c)
Allowance for loan losses
Nonperforming assets (d)(e)
Allowance for loan losses to ending loans retained
Allowance for loan losses to ending loans retained
excluding PCI loans (a)
(a)
(b)
(c)
(d)
(e)
$
1Q11
592
198
156
8
954
2.83
1.67
5.85
4.01
2.67
$
%
$
5.98
14,659
7,729
6.98
6.90
720
161
186
9
1,076
3.36
1.32
6.80
4.56
2.95
2.20
0.90
3.94
4.01
1.80
4Q10
$
%
2.63
0.71
4.60
4.56
1.99
$
%
6.22
14,659
8,152
6.78
6.68
792
558
429
10
1,789
3.48
4.37
14.42
4.41
4.62
$
%
%
6.45
14,659
8,424
6.57
6.47
$
%
%
6.77
14,111
9,456
6.12
7.25
796
273
282
21
1,372
3.32
2.02
8.63
8.42
3.34
2.44
1.09
4.57
4.76
2.05
$
2Q11 Change
1Q11
2Q10
2Q10
730
266
206
12
1,214
3.10
2.02
6.64
4.76
3.03
2.73
2.35
9.90
4.41
3.12
$
YEAR-TO-DATE
3Q10
(18) %
23
(16)
(11)
(11)
(26) %
(27)
(45)
(62)
(30)
2011
$
%
2.62
1.09
5.98
8.42
2.27
$
%
6.88
14,127
9,974
5.93
7.01
1,312
359
342
17
2,030
3.09
1.50
6.33
4.29
2.81
$
%
%
4
(23)
$
5.98
14,659
7,729
6.98
6.90
1,922
749
739
37
3,447
3.96
2.72
11.12
7.46
4.14
2.42
0.81
4.26
4.29
1.89
(5)
2011 Change
2010
2010
(32) %
(52)
(54)
(54)
(41)
%
3.13
1.47
7.76
7.46
2.82
$
%
6.88
14,127
9,974
5.93
4
(23)
%
7.01
Excludes the impact of PCI loans that were acquired as part of the Washington Mutual transaction. These loans were accounted for at fair value on the acquisition date, which incorporated management's estimate, as of that date, of
credit losses over the remaining life of the portfolio. An allowance for loan losses of $4.9 billion, $4.9 billion, $4.9 billion, $2.8 billion and $2.8 billion was recorded for these loans at June 30, 2011, March 31, 2011, December 31, 2010,
September 30, 2010 and June 30, 2010, respectively, which was also excluded from the applicable ratios. To date, no charge-offs have been recorded for these loans.
Net charge-offs and net charge-off rates for the fourth quarter of 2010 include the effect of $632 million of charge-offs related to an adjustment of the estimated net realizable value of the collateral underlying delinquent residential home
loans. Excluding this adjustment, net charge-offs for the fourth quarter of 2010 were $725 million, $240 million and $182 million for the home equity, prime mortgage including option ARMs and subprime mortgage portfolios,
respectively. Net charge-off rates excluding this adjustment and excluding PCI loans were 3.19%, 1.88% and 6.12% for the home equity, prime mortgage including option ARMs and subprime mortgage portfolios, respectively.
The delinquency rate for PCI loans was 26.20%, 27.36%, 28.20%, 28.07% and 27.91% at June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively.
Excludes PCI loans that were acquired as part of the Washington Mutual transaction, which are accounted for on a pool basis. Since each pool is accounted for as a single asset with a single composite interest rate and an aggregate
expectation of cash flows, the past-due status of the pools, or that of the individual loans within the pools, is not meaningful. Because the Firm is recognizing interest income on each pool of loans, they are all considered to be
performing.
During the third quarter of 2010, $147 million of nonperforming assets pertaining to the second quarter of 2010 were reclassified from Real Estate Portfolios to Mortgage Banking, Auto & Other Consumer Lending.
Page 19

21. JPMORGAN CHASE & CO.
CARD SERVICES
FINANCIAL HIGHLIGHTS
(in millions, except ratio data and where otherwise noted)
QUARTERLY TRENDS
2Q11
INCOME STATEMENT (a)
REVENUE
Credit card income
All other income (b)
Noninterest revenue
Net interest income
TOTAL NET REVENUE
$
Provision for credit losses
Merchant acquiring business
Bank card volume (in billions)
Total transactions (in billions)
(a)
(b)
(c)
(d)
$
898
(116)
782
3,200
3,982
$
YEAR-TO-DATE
3Q10
928
(76)
852
3,394
4,246
$
2Q11 Change
1Q11
2Q10
2Q10
864
(58)
806
3,447
4,253
$
$
25 %
8
30
(9)
(1)
908
(47)
861
3,356
4,217
226
671
1,633
2,221
355
1,163
104
1,622
FINANCIAL RATIOS (a)
ROE
Overhead ratio
Percentage of average loans:
Noninterest revenue
Net interest income
Net revenue
Provision for credit losses
Risk adjusted margin (c)
Noninterest expense
Pretax income ("ROO")
Net income
BUSINESS METRICS, EXCLUDING COMMERCIAL CARD (a)
Sales volume (in billions)
New accounts opened
Open accounts (d)
1,123
(107)
1,016
2,911
3,927
4Q10
810
NONINTEREST EXPENSE
Compensation expense
Noncompensation expense
Amortization of intangibles
TOTAL NONINTEREST EXPENSE
Income before income tax expense
Income tax expense
NET INCOME
1Q11
364
1,085
106
1,555
318
1,082
114
1,514
316
1,023
106
1,445
327
986
123
1,436
560
217
343
1,495
584
911
28
41
$
%
2,201
858
1,343
42
39
3.26
9.34
12.60
2.60
10.00
5.20
4.80
2.92
$
%
2,061
762
1,299
34
36
2.39
9.79
12.18
0.69
11.49
4.76
6.73
4.11
$
%
1,175
440
735
19
34
2.49
9.93
12.42
1.96
10.46
4.43
6.03
3.80
$
%
9
34
2.28
9.76
12.05
4.63
7.42
4.09
3.33
2.08
258
2011
24 %
(128)
18
(13)
(7)
$
2011 Change
2010
2010
2,021
(223)
1,798
6,111
7,909
$
1,721
(102)
1,619
7,045
8,664
17 %
(119)
11
(13)
(9)
(64)
1,036
5,733
(82)
(2)
7
(2)
4
9
18
(15)
13
719
2,248
210
3,177
657
1,935
246
2,838
9
16
(15)
12
(32)
(32)
(32)
167
169
166
93
53
40
NM
NM
NM
$
%
3,696
1,442
2,254
35
40
2.36
9.20
11.56
6.09
5.47
3.94
1.54
0.94
$
%
1
33
2.82
9.57
12.39
1.62
10.76
4.98
5.79
3.53
%
2.16
9.41
11.57
7.66
3.91
3.79
0.12
0.05
$
85.5
2.0
65.4
$
77.5
2.6
91.9
$
85.9
3.4
90.7
$
79.6
2.7
89.0
$
78.1
2.7
88.9
10
(23)
(29)
9
(26)
(26)
$
163.0
4.6
65.4
$
147.5
5.2
88.9
11
(12)
(26)
$
137.3
5.9
$
125.7
5.6
$
127.2
5.6
$
117.0
5.2
$
117.1
5.0
9
5
17
18
$
263.0
11.5
$
225.1
9.7
17
19
Effective January 1, 2011, the commercial card business that was previously in TSS was transferred to CS. There is no material impact on the financial data; prior-year periods were not revised. The commercial card portfolio is
excluded from business metrics and supplemental information where noted.
Includes the impact of revenue sharing agreements with other JPMorgan Chase business segments.
Represents total net revenue less provision for credit losses.
Reflects the impact of portfolio sales in the second quarter of 2011.
Page 20

22. JPMORGAN CHASE & CO.
CARD SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except headcount and ratio data)
QUARTERLY TRENDS
2Q11
SELECTED BALANCE SHEET DATA (period-end) (a)
Loans (b)
Equity
$
SELECTED BALANCE SHEET DATA (average) (a)
Total assets
Loans (c)
Equity
SUPPLEMENTAL INFORMATION (a)(e)
Chase, excluding Washington Mutual portfolio
Loans (period-end)
Average loans
Net interest income (f)
Net revenue (f)
Risk adjusted margin (f)(g)
Net charge-off rate
30+ day delinquency rate
90+ day delinquency rate
Chase, excluding Washington Mutual and
Commercial Card portfolios
Loans (period-end)
Average loans
Net interest income (f)
Net revenue (f)
Risk adjusted margin (f)(g)
Net charge-off rate
30+ day delinquency rate
90+ day delinquency rate
(a)
(b)
(c)
(d)
(e)
(f)
(g)
$
128,803
13,000
$
YEAR-TO-DATE
3Q10
137,676
15,000
$
2Q11 Change
1Q11
2Q10
2Q10
136,436
15,000
$
2011
142,994
15,000
(3) %
-
(12) %
(13)
$
2011 Change
2010
2010
125,523
13,000
$
142,994
15,000
(12) %
(13)
$
138,113
132,537
13,000
138,443
135,585
15,000
141,029
140,059
15,000
146,816
146,302
15,000
(4)
(6)
-
(10)
(15)
(13)
135,262
128,767
13,000
151,864
151,020
15,000
(11)
(15)
(13)
21,765
Delinquency rates (b)
30+ day
90+ day
Allowance for loan losses
Allowance for loan losses to period-end loans (b)
125,523
13,000
4Q10
132,443
125,038
13,000
Headcount (d)
CREDIT QUALITY STATISTICS - RETAINED (a)
Net charge-offs
Net charge-off rate (c)
1Q11
21,774
20,739
21,398
21,529
-
1
21,765
21,529
1
1,810
5.82
$
%
2.98
1.55
$
$
$
8,042
6.41
113,766
112,984
8.60
12.01
8.71
5.22
2.71
1.41
112,366
111,641
8.77
11.95
8.61
5.28
2.73
1.42
2,226
6.97
$
%
3.57
1.93
$
%
$
%
$
%
9,041
7.24
116,395
119,411
9.09
11.57
10.28
6.13
3.22
1.71
115,016
118,145
9.25
11.51
10.21
6.20
3.25
1.73
2,671
7.85
$
%
4.14
2.25
$
%
$
%
$
%
11,034
8.14
123,943
121,493
9.16
11.78
10.26
7.08
3.66
1.98
123,943
121,493
9.16
11.78
10.26
7.08
3.66
1.98
3,133
8.87
$
%
4.57
2.41
$
%
$
%
$
%
13,029
9.55
121,932
124,933
8.98
11.33
6.76
8.06
4.13
2.16
121,932
124,933
8.98
11.33
6.76
8.06
4.13
2.16
3,721
10.20
(19)
(51)
$
%
4.96
2.76
$
%
$
%
$
%
14,524
10.16
127,379
129,847
8.47
10.91
4.21
9.02
4.48
2.47
127,379
129,847
8.47
10.91
4.21
9.02
4.48
2.47
4,036
6.40
$
%
2.98
1.55
(11)
(45)
$
%
(2)
(5)
(11)
(13)
$
%
(2)
(6)
%
(12)
(14)
$
8,042
6.41
113,766
116,179
8.85
11.79
9.51
5.69
2.71
1.41
112,366
114,874
9.02
11.73
9.43
5.75
2.73
1.42
8,233
10.99
(51)
%
4.96
2.76
$
%
$
%
$
%
14,524
10.16
127,379
133,495
8.67
10.91
3.30
9.80
4.48
2.47
127,379
133,495
8.67
10.91
3.30
9.80
4.48
2.47
(45)
%
(11)
(13)
%
(12)
(14)
%
Effective January 1, 2011, the commercial card business that was previously in TSS was transferred to CS. There is no material impact on the financial data; prior-year periods were not revised. The commercial card portfolio
is excluded from business metrics and supplemental information where noted.
Total period-end loans include loans held-for-sale of $4.0 billion and $2.2 billion at March 31, 2011 and December 31, 2010, respectively. There were no loans held-for-sale at June 30, 2011. No allowance for loan losses was
recorded for these loans. Loans held-for-sale are excluded when calculating the allowance for loan losses to period-end loans and delinquency rates. The 30+ day delinquency rate including loans held-for-sale, which is a
non-GAAP financial measure, was 3.55% and 4.07% at March 31, 2011 and December 31, 2010, respectively. The 90+ day delinquency rate including loans held-for-sale, which is a non-GAAP financial measure, was 1.92%
and 2.22% at March 31, 2011 and December 31, 2010, respectively.
Total average loans include loans held-for-sale of $276 million, $3.0 billion and $586 million for the quarters ended June 30, 2011, March 31, 2011 and December 31, 2010, respectively, and $1.6 billion for year-to-date 2011.
There were no loans held-for-sale for year-to-date 2010. These amounts are excluded when calculating the net charge-off rate. The net charge-off rate including loans held-for-sale, which is a non-GAAP financial measure,
was 5.81%, 6.81% and 7.82% for the quarters ended June 30, 2011, March 31, 2011 and December 31, 2010, respectively, and 6.32% for year-to-date 2011.
Headcount includes 1,274 employees related to the transfer of the commercial card business from TSS to CS in the first quarter of 2011.
Supplemental information is provided for Chase, excluding Washington Mutual and Commercial Card portfolios and including loans held-for-sale, which are non-GAAP financial measures, to provide more meaningful
measures that enable comparability with prior periods.
As a percentage of average loans.
Represents total net revenue less provision for credit losses.
Page 21

23. JPMORGAN CHASE & CO.
COMMERCIAL BANKING
FINANCIAL HIGHLIGHTS
(in millions, except ratio data)
QUARTERLY TRENDS
2Q11
INCOME STATEMENT
REVENUE
Lending- and deposit-related fees
Asset management, administration and commissions
All other income (a)
Noninterest revenue
Net interest income
TOTAL NET REVENUE (b)
$
Provision for credit losses
Revenue by product:
Lending (c)
Treasury services (c)
Investment banking
Other
Total Commercial Banking revenue
IB revenue, gross (d)
Revenue by client segment:
Middle Market Banking
Commercial Term Lending
Corporate Client Banking (e)
Real Estate Banking
Other
Total Commercial Banking revenue
FINANCIAL RATIOS
ROE
Overhead ratio
(a)
(b)
(c)
(d)
(e)
281
34
283
598
1,029
1,627
$
4Q10
264
35
203
502
1,014
1,516
$
YEAR-TO-DATE
3Q10
273
35
299
607
1,004
1,611
$
2Q11 Change
1Q11
2Q10
2Q10
269
36
242
547
980
1,527
$
6 %
(3)
39
19
1
7
280
36
230
546
940
1,486
2011
- %
(6)
23
10
9
9
$
2011 Change
2010
2010
545
69
486
1,100
2,043
3,143
$
(2) %
(5)
17
5
10
8
$
47
152
166
(235)
15
NM
219
336
8
563
$
223
332
8
563
208
342
8
558
210
341
9
560
196
337
9
542
(2)
1
-
12
(11)
4
442
668
16
1,126
402
661
18
1,081
10
1
(11)
4
1,010
403
607
906
360
546
901
371
530
801
330
471
1,179
486
693
11
12
11
(14)
(17)
(12)
1,916
763
1,153
1,842
759
1,083
4
1
6
5
3
38
44
7
36
(16)
32
(32)
9
$
31
(16)
19
(8)
8
$
880
556
152
39
1,627
$
$
$
$
$
837
542
110
27
1,516
442
$
789
286
339
109
104
1,627
$
30
35
$
$
$
%
$
749
659
126
77
1,611
309
$
755
286
290
88
97
1,516
$
28
37
$
$
$
%
$
693
670
120
44
1,527
$
649
665
115
57
1,486
347
$
344
$
333
43
781
301
302
117
110
1,611
$
766
256
304
118
83
1,527
$
767
237
285
125
72
1,486
5
17
24
7
7
26
35
$
$
$
%
23
37
$
$
%
35
36
%
101
557
73
416
1,046
1,856
2,902
54
NONINTEREST EXPENSE
Compensation expense
Noncompensation expense
Amortization of intangibles
TOTAL NONINTEREST EXPENSE
Income before income tax expense
Income tax expense
NET INCOME
1Q11
$
(21)
$
$
$
1,717
1,098
262
66
3,143
$
1,307
1,303
220
72
2,902
33
$
751
$
644
3
21
19
(13)
44
9
$
1,544
572
629
197
201
3,143
$
NM
1,513
466
548
225
150
2,902
$
29
36
$
%
27
37
17
2
23
15
(12)
34
8
%
Commercial Banking (“CB”) client revenue from investment banking products and commercial card transactions is included in all other income.
Total net revenue included tax-equivalent adjustments from income tax credits related to equity investments in designated community development entities that provide loans to qualified businesses in low-income communities as well
as tax-exempt income from municipal bond activity of $67 million, $65 million, $85 million, $59 million, and $49 million for quarters ended June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30, 2010,
respectively, and $132 million and $94 million for year-to-date 2011 and 2010, respectively.
Effective January 1, 2011, product revenue from commercial card and standby letters of credit transactions is included in lending. For the quarters ending June 30, 2011 and March 31, 2011, the impact of the change was $114 million
and $107 million, respectively, and $221 million for year-to-date 2011. In prior-year quarters, it was reported in treasury services.
Represents the total revenue related to investment banking products sold to CB clients.
Corporate Client Banking was known as Mid-Corporate Banking prior to January 1, 2011.
Page 22

24. JPMORGAN CHASE & CO.
COMMERCIAL BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except headcount and ratio data)
QUARTERLY TRENDS
2Q11
SELECTED BALANCE SHEET DATA (period-end)
Loans:
Loans retained
Loans held-for-sale and loans at fair value
Total loans
Equity
SELECTED BALANCE SHEET DATA (average)
Total assets
Loans:
Loans retained
Loans held-for-sale and loans at fair value
Total loans
Liability balances
Equity
Average loans by client segment:
Middle Market Banking
Commercial Term Lending
Corporate Client Banking (a)
Real Estate Banking
Other
Total Commercial Banking loans
Assets acquired in loan satisfactions
Total nonperforming assets
Allowance for credit losses:
Allowance for loan losses
Allowance for lending-related commitments
Total allowance for credit losses
Net charge-off rate
Allowance for loan losses to period-end loans retained
Allowance for loan losses to nonaccrual loans retained
Nonaccrual loans to total period-end loans
(a)
(b)
4Q10
YEAR-TO-DATE
3Q10
2Q11 Change
1Q11
2Q10
2Q10
3 %
(33)
3
-
2011
$
102,122
557
102,679
8,000
$
99,334
835
100,169
8,000
$
97,900
1,018
98,918
8,000
$
97,738
399
98,137
8,000
$
95,090
446
95,536
8,000
$
143,560
$
140,400
$
138,041
$
130,237
$
133,309
2
8
95,521
391
95,912
136,770
8,000
2
34
2
4
-
6
160
6
19
-
34,424
35,956
11,875
9,814
3,843
95,912
5
6
(2)
2
16
5
10
(24)
(6)
6
4,808
4
7
176
29
(77)
100,857
1,015
101,872
162,769
8,000
$
$
Headcount
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs
Nonperforming assets:
Nonaccrual loans:
Nonaccrual loans retained (b)
Nonaccrual loans held-for-sale and loans
at fair value
Total nonaccrual loans
1Q11
98,829
756
99,585
156,200
8,000
40,012
37,729
13,062
7,467
3,602
101,872
$
$
5,140
$
97,823
612
98,435
147,534
8,000
38,207
37,810
12,374
7,607
3,587
99,585
$
$
4,941
40
$
96,657
384
97,041
137,853
8,000
36,561
38,358
11,771
8,169
3,576
98,435
$
$
4,881
31
$
35,299
37,509
11,807
8,983
3,443
97,041
$
$
4,805
286
$
218
$
7
25
7
-
%
2011 Change
2010
2010
$
102,122
557
102,679
8,000
$
95,090
446
95,536
8,000
7
25
7
-
$
141,989
$
133,162
7
99,849
886
100,735
159,503
8,000
$
$
95,917
344
96,261
134,966
8,000
$
$
5,140
$
71
$
34,173
36,006
12,065
10,124
3,893
96,261
14
5
5
(26)
(8)
5
4,808
39,114
37,769
12,720
7,537
3,595
100,735
4
158
5
18
-
7
405
(82)
1,613
1,925
1,964
2,898
3,036
(16)
(47)
1,613
3,036
(47)
21
1,634
30
1,955
36
2,000
48
2,946
41
3,077
(30)
(16)
(49)
(47)
21
1,634
41
3,077
(49)
(47)
197
1,831
179
2,134
197
2,197
281
3,227
208
3,285
10
(14)
(5)
(44)
197
1,831
208
3,285
(5)
(44)
2,614
187
2,801
2,577
206
2,783
2,552
209
2,761
2,661
241
2,902
2,686
267
2,953
1
(9)
1
(3)
(30)
(5)
2,614
187
2,801
2,686
267
2,953
(3)
(30)
(5)
0.16
2.56
162
1.59
%
0.13
2.59
134
1.95
%
1.16
2.61
130
2.02
%
0.89
2.72
92
3.00
%
0.74
2.82
88
3.22
%
0.14
2.56
162
1.59
%
0.85
2.82
88
3.22
%
Corporate Client Banking was known as Mid-Corporate Banking prior to January 1, 2011.
Allowance for loan losses of $289 million, $360 million, $340 million, $535 million and $586 million was held against nonaccrual loans retained at June 30, 2011, March 31, 2011, December 31, 2010, September 30, 2010 and June 30,
2010, respectively.
Page 23

25. JPMORGAN CHASE & CO.
TREASURY & SECURITIES SERVICES
FINANCIAL HIGHLIGHTS
(in millions, except ratio and headcount data)
QUARTERLY TRENDS
2Q11
INCOME STATEMENT
REVENUE
Lending- and deposit-related fees
Asset management, administration and commissions
All other income
Noninterest revenue
Net interest income
TOTAL NET REVENUE
$
Provision for credit losses
Credit allocation income/(expense) (a)
314
726
143
1,183
749
1,932
$
(2)
32
NONINTEREST EXPENSE
Compensation expense
Noncompensation expense
Amortization of intangibles
TOTAL NONINTEREST EXPENSE
$
REVENUE BY BUSINESS
Treasury Services
Worldwide Securities Services
TOTAL NET REVENUE
$
$
$
$
513
180
333
$
930
1,002
1,932
$
299
80
691
862
1,932
$
SELECTED BALANCE SHEET DATA (period-end)
Loans (c)
Equity
SELECTED BALANCE SHEET DATA (average)
Total assets
Loans (c)
Liability balances
Equity
Headcount
(a)
(b)
(c)
19
75
27
303
695
139
1,137
703
1,840
$
$
$
$
$
%
314
689
209
1,212
701
1,913
$
$
891
949
1,840
$
276
76
630
858
1,840
$
14,607
4,014
5,794
1,084
25,499
$
$
$
$
%
318
644
210
1,172
659
1,831
$
$
953
960
1,913
$
270
91
624
928
1,913
$
11,834
3,628
4,874
820
21,156
$
$
$
$
%
4
4
3
4
7
5
%
2011
- %
3
(32)
(4)
15
3
$
$
937
894
1,831
$
256
50
579
946
1,831
$
10,238
3,357
3,391
820
17,806
$
$
$
$
%
NM
19
88
NM
697
684
18
1,399
392
141
251
15
77
21
313
705
209
1,227
654
1,881
(16)
(30)
701
693
16
1,410
403
146
257
16
77
21
2Q10
(2)
(31)
679
763
28
1,470
486
170
316
18
75
26
3Q10
10
(30)
715
647
15
1,377
TRADE FINANCE LOANS BY GEOGRAPHIC REGION (period-end) (b)
Asia/Pacific
$
15,736
Latin America/Caribbean
4,553
Europe/Middle East/Africa
6,184
North America
1,000
TOTAL TRADE FINANCE LOANS
$
27,473
FINANCIAL RATIOS
ROE
Overhead ratio
Pretax margin ratio
4Q10
4
27
719
719
15
1,453
Income before income tax expense
Income tax expense
NET INCOME
REVENUE BY GEOGRAPHIC REGION (b)
Asia/Pacific
Latin America/Caribbean
Europe/Middle East/Africa
North America
TOTAL NET REVENUE
1Q11
YEAR-TO-DATE
2Q11 Change
1Q11
2Q10
1
11
6
3
5
(17)
4
468
176
292
6
6
5
10
2
14
926
955
1,881
4
6
5
5
3
$
233
71
617
960
1,881
8
5
10
5
28
13
12
(10)
3
$
9,802
3,008
2,898
693
16,401
8
13
7
(8)
8
61
51
113
44
68
18
74
25
617
1,421
282
2,320
1,452
3,772
$
2
59
$
$
$
$
%
(1) %
4
(27)
(2)
15
4
NM
NM
1,354
1,334
36
2,724
999
350
649
$
1,821
1,951
3,772
$
575
156
1,321
1,720
3,772
$
15,736
4,553
6,184
1,000
27,473
$
19
75
26
624
1,364
385
2,373
1,264
3,637
(55)
(60)
1,434
1,366
30
2,830
$
2011 Change
2010
2010
$
$
$
%
6
2
(17)
4
908
337
571
10
4
14
1,808
1,829
3,637
1
7
4
452
116
1,186
1,883
3,637
27
34
11
(9)
4
9,802
3,008
2,898
693
16,401
18
75
25
61
51
113
44
68
%
$
34,034
7,000
$
31,020
7,000
$
27,168
6,500
$
26,899
6,500
$
24,513
6,500
10
-
39
8
$
34,034
7,000
$
24,513
6,500
39
8
$
52,688
33,069
302,858
7,000
$
47,873
29,290
265,720
7,000
$
46,301
26,941
256,661
6,500
$
42,445
24,337
242,517
6,500
$
42,868
22,137
246,690
6,500
10
13
14
-
23
49
23
8
$
50,294
31,190
284,392
7,000
$
40,583
20,865
247,294
6,500
24
49
15
8
27,943
1
1
27,943
1
28,230
28,040
29,073
28,544
28,230
IB manages core credit exposures related to the GCB on behalf of IB and TSS. Effective January 1, 2011, IB and TSS share the economics related to the Firm’s GCB clients. Included within this allocation are net revenues, provision for
credit losses, as well as expenses. Prior-year periods reflected a reimbursement to IB for a portion of the total costs of managing the credit portfolio. IB recognizes this credit allocation as a component of all other income.
Revenue and trade finance loans are based on TSS management’s view of the domicile of clients.
Loan balances include trade finance loans, wholesale overdrafts and commercial card. Effective January 1, 2011, the commercial card loan business (of approximately $1.2 billion) that was previously in TSS was transferred to CS.
There is no material impact on the financial data; prior-year periods were not revised.
Page 24

26. JPMORGAN CHASE & CO.
TREASURY & SECURITIES SERVICES
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data and where otherwise noted)
TSS firmwide metrics include revenue recorded in the CB, Retail Banking and Asset Management ("AM") lines of business and excludes FX revenue recorded in IB for TSS-related FX activity. In order to capture the firmwide impact of
Treasury Services ("TS") and TSS products and revenue, management reviews firmwide metrics such as liability balances, revenue and overhead ratios in assessing financial performance for TSS. Firmwide metrics are necessary in order
to understand the aggregate TSS business.
QUARTERLY TRENDS
2Q11
TSS FIRMWIDE DISCLOSURES
TS revenue - reported
TS revenue reported in CB (a)
TS revenue reported in other lines of business
TS firmwide revenue (b)
Worldwide Securities Services revenue
TSS firmwide revenue (b)
TS firmwide liability balances (average) (c)
TSS firmwide liability balances (average) (c)
$
$
$
TSS FIRMWIDE FINANCIAL RATIOS
TS firmwide overhead ratio (a)(d)
TSS firmwide overhead ratio (a)(d)
FIRMWIDE BUSINESS METRICS
Assets under custody (in billions)
Net charge-off rate
Allowance for loan losses to period-end loans
Allowance for loan losses to nonaccrual loans
Nonaccrual loans to period-end loans
(a)
(b)
(c)
(d)
(e)
(f)
930
556
65
1,551
1,002
2,553
$
$
$
375,432
465,627
59
67
Number of:
U.S.$ ACH transactions originated
Total U.S.$ clearing volume (in thousands)
International electronic funds transfer volume
(in thousands) (e)
Wholesale check volume
Wholesale cards issued (in thousands) (f)
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs
Nonaccrual loans
Allowance for credit losses:
Allowance for loan losses
Allowance for lending-related commitments
Total allowance for credit losses
1Q11
$
%
16,945
4Q10
891
542
63
1,496
949
2,445
$
339,240
421,920
56
67
$
$
$
%
16,619
3Q10
953
659
65
1,677
960
2,637
$
$
320,745
404,195
54
66
$
YEAR-TO-DATE
$
%
16,120
2Q10
937
670
64
1,671
894
2,565
$
$
302,921
380,370
55
65
$
2Q11 Change
1Q11
2Q10
$
%
15,863
926
665
62
1,653
955
2,608
4
3
3
4
6
4
303,224
383,460
11
10
54
64
$
%
2011
- %
(16)
5
(6)
5
(2)
24
21
$
$
$
%
1,821
1,098
128
3,047
1,951
4,998
2
14
$
$
$
357,436
443,894
58
67
14,857
2011 Change
2010
2010
$
%
16,945
1,808
1,303
118
3,229
1,829
5,058
304,159
382,260
55
65
$
1 %
(16)
8
(6)
7
(1)
18
16
%
14,857
14
959
32,274
995
32,144
978
30,779
970
30,531
(3)
4
(1)
6
1,951
63,245
1,919
59,200
2
7
63,208
608
23,746
$
992
30,971
60,942
532
23,170
60,882
525
29,785
57,333
531
28,404
58,484
526
28,066
4
14
2
8
16
(15)
124,150
1,140
23,746
114,238
1,004
28,066
9
14
(15)
14
(73)
(79)
14
(79)
48
68
116
7
(15)
(2)
54
(40)
(1)
48
68
116
54
(40)
(1)
3
$
74
41
115
0.22
NM
0.01
11
$
69
48
117
%
0.22
NM
0.04
12
$
65
51
116
%
0.24
NM
0.04
1
14
$
54
52
106
%
0.02
0.20
386
0.05
%
0.20
343
0.06
%
$
3
$
74
41
115
0.22
NM
0.01
%
0.20
343
0.06
%
Effective January 1, 2011, certain CB revenues were excluded in the TS firmwide metrics; they are instead directly captured within CB’s lending revenue by product. For the quarters ended June 30, 2011 and March 31, 2011, the
impact of this change was $114 million and $107 million, respectively, and $221 million for year-to-date 2011. In prior-year periods, these revenues were included in CB’s treasury services revenue by product.
TSS firmwide revenue includes foreign exchange (“FX”) revenue recorded in TSS and FX revenue associated with TSS customers who are FX customers of IB. However, some of the FX revenue associated with TSS customers who
are FX customers of IB is not included in TS and TSS firmwide revenue. The total FX revenue generated was $165 million, $160 million, $181 million, $143 million and $175 million for the quarters ended June 30, 2011, March 31,
2011, December 31, 2010, September 30, 2010 and June 30, 2010, respectively, and $325 million and $312 million for year-to-date 2011 and 2010, respectively.
Firmwide liability balances include liability balances recorded in CB.
Overhead ratios have been calculated based on firmwide revenue and TSS and TS expense, respectively, including those allocated to certain other lines of business. FX revenue and expense recorded in IB for TSS-related FX activity
are not included in this ratio.
International electronic funds transfer includes non-U.S. dollar Automated Clearing House (“ACH”) and clearing volume.
Wholesale cards issued and outstanding include U.S. domestic commercial, stored value, prepaid and government electronic benefit card products. Effective January 1, 2011, the commercial card portfolio was transferred from TSS to
CS.
Page 25

27. JPMORGAN CHASE & CO.
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS
(in millions, except ratio and headcount data)
QUARTERLY TRENDS
2Q11
INCOME STATEMENT
REVENUE
Asset management, administration and commissions
All other income
Noninterest revenue
Net interest income
TOTAL NET REVENUE
$
Provision for credit losses
REVENUE BY CLIENT SEGMENT
Private Banking
Institutional
Retail
TOTAL NET REVENUE
SELECTED BALANCE SHEET DATA (average)
Total assets
Loans
Deposits
Equity
Headcount
$
1,707
313
2,020
386
2,406
$
YEAR-TO-DATE
3Q10
1,846
386
2,232
381
2,613
$
2Q11 Change
1Q11
2Q10
2Q10
1,498
282
1,780
392
2,172
$
1,522
177
1,699
369
2,068
7
3
6
3
5
%
2011
19
81
26
8
23
%
$
2011 Change
2010
2010
3,525
634
4,159
784
4,943
$
3,030
443
3,473
726
4,199
16 %
43
20
8
18
$
$
$
5
23
23
5
140
140
17
40
1,068
704
22
1,794
FINANCIAL RATIOS
ROE
Overhead ratio
Pretax margin ratio
SELECTED BALANCE SHEET DATA (period-end)
Loans
Equity
1,818
321
2,139
398
2,537
4Q10
12
NONINTEREST EXPENSE
Compensation expense
Noncompensation expense
Amortization of intangibles
TOTAL NONINTEREST EXPENSE
Income before income tax expense
Income tax expense
NET INCOME
1Q11
1,039
599
22
1,660
1,078
679
20
1,777
914
557
17
1,488
861
527
17
1,405
3
18
8
24
34
29
28
2,107
1,303
44
3,454
1,771
1,041
35
2,847
19
25
26
21
658
267
391
(1)
6
(6)
11
9
12
1,312
529
783
12
7
16
1,153
455
460
2,068
(2)
28
1
5
12
55
18
23
2,303
999
897
4,199
13
25
21
18
731
292
439
$
1,289
704
544
2,537
27
71
29
$
$
%
741
275
466
$
1,317
549
540
2,406
29
69
31
$
$
%
813
306
507
$
1,376
675
562
2,613
31
68
31
$
$
%
661
241
420
$
1,181
506
485
2,172
26
69
30
$
$
%
24
68
32
$
$
$
%
1,472
567
905
$
2,606
1,253
1,084
4,943
28
70
30
$
$
%
24
68
31
(58)
%
$
51,747
6,500
$
46,454
6,500
$
44,084
6,500
$
41,408
6,500
$
38,744
6,500
11
-
34
-
$
51,747
6,500
$
38,744
6,500
34
-
$
74,206
48,837
97,509
6,500
$
68,918
44,948
95,250
6,500
$
69,290
42,296
89,314
6,500
$
64,911
39,417
87,841
6,500
$
63,426
37,407
86,453
6,500
8
9
2
-
17
31
13
-
$
71,577
46,903
96,386
6,500
$
62,978
37,007
83,573
6,500
14
27
15
-
16,019
4
12
16,019
12
17,963
17,203
16,918
16,510
17,963
Page 26

28. JPMORGAN CHASE & CO.
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data and where otherwise noted)
QUARTERLY TRENDS
2Q11
BUSINESS METRICS
Number of:
Client advisors (a)
Retirement planning services participants (in thousands)
JPMorgan Securities brokers (a)
% of customer assets in 4 & 5 Star Funds (b)
% of AUM in 1st and 2nd quartiles: (c)
1 year
3 years
5 years
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs
Nonaccrual loans
Allowance for credit losses:
Allowance for loan losses
Allowance for lending-related commitments
Total allowance for credit losses
Net charge-off rate
Allowance for loan losses to period-end loans
Allowance for loan losses to nonaccrual loans
Nonaccrual loans to period-end loans
(a)
(b)
(c)
1Q11
2,282
1,613
437
50
2,288
1,604
431
46
%
56
71
76
$
%
$
%
257
4
261
0.10
0.55
101
0.55
%
$
%
267
4
271
0.08
0.61
71
0.85
2,083
1,653
403
43
%
67
65
74
8
375
$
%
2Q11 Change
1Q11
2Q10
2Q10
2,244
1,665
419
42
67
72
80
11
254
YEAR-TO-DATE
3Q10
2,281
1,580
415
49
57
70
77
33
252
222
9
231
0.27
0.43
88
0.49
4Q10
%
10 %
(2)
8
16
58
67
78
13
294
257
3
260
0.13
0.62
87
0.71
%
1
1
9
2011
$
%
(2)
1
(1)
27
309
200
(1)
22
(18)
250
3
253
0.29
0.65
81
0.80
(14)
125
(11)
(11)
200
(9)
2,282
1,613
437
50
(3)
6
(3)
%
2,083
1,653
403
43
%
56
71
76
$
2011 Change
2010
2010
58
67
78
44
252
222
9
231
0.19
0.43
88
0.49
%
10 %
(2)
8
16
$
%
(3)
6
(3)
55
309
(20)
(18)
250
3
253
0.30
0.65
81
0.80
(11)
200
(9)
%
Effective January 1, 2011, the methodology used to determine client advisors was revised, and the prior-year periods have been revised.
Derived from Morningstar for the U.S., the U.K., Luxembourg, France, Hong Kong and Taiwan; and Nomura for Japan.
Quartile ranking sourced from: Lipper for the U.S. and Taiwan; Morningstar for the U.K., Luxembourg, France and Hong Kong; and Nomura for Japan.
Page 27

29. JPMORGAN CHASE & CO.
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in billions)
June 30, 2011
Change
ASSETS UNDER SUPERVISION (a)
Assets by asset class
Liquidity
Fixed income
Equities and multi-asset
Alternatives
TOTAL ASSETS UNDER MANAGEMENT
Custody/brokerage/administration/deposits
TOTAL ASSETS UNDER SUPERVISION
Assets by client segment
Private Banking
Institutional (b)
Retail (b)
TOTAL ASSETS UNDER MANAGEMENT
Private Banking
Institutional (b)
Retail (b)
TOTAL ASSETS UNDER SUPERVISION
Mutual fund assets by asset class
Liquidity
Fixed income
Equities and multi-asset
Alternatives
TOTAL MUTUAL FUND ASSETS
(a)
(b)
Jun 30
2011
$
$
$
$
$
$
$
$
476
319
430
117
1,342
582
1,924
291
708
343
1,342
776
709
439
1,924
421
105
176
9
711
Mar 31
2011
$
$
$
$
$
$
$
$
490
305
421
114
1,330
578
1,908
293
711
326
1,330
773
713
422
1,908
436
99
173
8
716
Dec 31
2010
$
$
$
$
$
$
$
$
497
289
404
108
1,298
542
1,840
284
703
311
1,298
731
703
406
1,840
446
92
169
7
714
Sep 30
2010
$
$
$
$
$
$
$
$
521
277
362
97
1,257
513
1,770
276
696
285
1,257
698
697
375
1,770
466
88
151
7
712
Jun 30
2010
$
$
$
$
$
$
$
$
Mar 31
2011
Jun 30
2010
489
259
322
91
1,161
479
1,640
(3) %
5
2
3
1
1
1
(3) %
23
34
29
16
22
17
258
651
252
1,161
(1)
5
1
13
9
36
16
653
652
335
1,640
(1)
4
1
19
9
31
17
440
79
133
8
660
(3)
6
2
13
(1)
(4)
33
32
13
8
Excludes assets under management of American Century Companies, Inc. in which the Firm had a 40% ownership in the second and first quarters of 2011, 41% in the fourth and
third quarters of 2010, and 42% in the second quarter of 2010.
In the second quarter of 2011, the client hierarchy used to determine asset classification was revised, and the prior-year periods have been revised.
Page 28

30. JPMORGAN CHASE & CO.
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in billions)
2Q11
ASSETS UNDER SUPERVISION (continued)
Assets under management rollforward
Beginning balance
Net asset flows:
Liquidity
Fixed income
Equities, multi-asset and alternatives
Market/performance/other impacts
Ending balance
Assets under supervision rollforward
Beginning balance
Net asset flows
Market/performance/other impacts
Ending balance
$
1,330
$
(16)
12
7
9
1,342
$
$
1,908
12
4
1,924
1Q11
$
1,298
$
(9)
16
11
14
1,330
$
$
1,840
31
37
1,908
4Q10
$
1,257
$
(25)
10
13
43
1,298
$
$
1,770
1
69
1,840
3Q10
$
1,161
$
27
12
(1)
58
1,257
$
$
1,640
41
89
1,770
YEAR-TO-DATE
2011
2010
2Q10
$
1,219
$
(29)
12
1
(42)
1,161
$
$
1,707
(4)
(63)
1,640
$
1,298
$
(25)
28
18
23
1,342
$
$
1,840
43
41
1,924
$
1,249
$
(91)
28
7
(32)
1,161
$
$
1,701
(14)
(47)
1,640
Page 29

31. JPMORGAN CHASE & CO.
ASSET MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in billions, except where otherwise noted)
QUARTERLY TRENDS
INTERNATIONAL METRICS
Total net revenue: (in millions) (a)
Asia/Pacific
Latin America/Caribbean
Europe/Middle East/Africa
North America
Total net revenue
Assets under management:
Asia/Pacific
Latin America/Caribbean
Europe/Middle East/Africa
North America
Total assets under management
Assets under supervision:
Asia/Pacific
Latin America/Caribbean
Europe/Middle East/Africa
North America
Total assets under supervision
(a)
2Q11
$
$
$
$
$
$
257
251
478
1,551
2,537
119
37
298
888
1,342
161
94
353
1,316
1,924
1Q11
$
$
$
$
$
$
246
165
439
1,556
2,406
115
35
300
880
1,330
155
88
353
1,312
1,908
4Q10
$
$
$
$
$
$
263
168
481
1,701
2,613
111
35
282
870
1,298
147
84
331
1,278
1,840
YEAR-TO-DATE
3Q10
$
$
$
$
$
$
226
125
395
1,426
2,172
2Q10
$
$
107
27
258
865
1,257
$
139
74
307
1,250
1,770
$
$
$
2Q11 Change
1Q11
2Q10
%
2011
214
124
381
1,349
2,068
4
52
9
5
20
102
25
15
23
%
$
95
24
239
803
1,161
3
6
(1)
1
1
25
54
25
11
16
$
127
68
282
1,163
1,640
4
7
1
27
38
25
13
17
$
$
$
$
503
416
917
3,107
4,943
119
37
298
888
1,342
161
94
353
1,316
1,924
2010
$
$
$
$
$
$
2011 Change
2010
436
248
766
2,749
4,199
15 %
68
20
13
18
95
24
239
803
1,161
25
54
25
11
16
127
68
282
1,163
1,640
27
38
25
13
17
Regional revenue is based on the domicile of clients.
Page 30