v3.26.1
Business Segments & Corporate
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segments & Corporate Business segments & Corporate
The Firm is managed on an LOB basis. There are three reportable business segments – Consumer & Community Banking, Commercial & Investment Bank, and Asset & Wealth Management – with the remaining activities in Corporate.
The business segments are determined based on the products and services provided, or the type of customer served, and they reflect the manner in which financial information is evaluated by the Firm’s Operating Committee, whose members act collectively as the Firm’s chief operating decision maker. Segment results are presented on a managed basis. Refer to JPMorganChase’s 2025 Form 10-K Explanation and Reconciliation of the Firm’s Use of Non-GAAP Financial Measures on page 59 for a definition of managed basis and Note 32 for a further discussion of the Firm’s business segments.
Description of business segment reporting methodology
Results of the reportable business segments are intended to present each segment as if it were a stand-alone business. The management reporting process that derives business segment results includes the allocation of certain income and expense items. The Firm periodically assesses the assumptions, methodologies and reporting classifications used for segment reporting, and therefore further refinements may be implemented in future periods. The Firm also assesses the level of capital required for each LOB on at least an annual basis. The Firm’s LOBs also provide various business metrics which are utilized by the Firm and its investors and analysts in assessing performance.
Revenue sharing
When business segments or businesses within each segment join efforts to sell products and services to the Firm’s clients and customers, the participating businesses may agree to share revenue from those transactions. Revenue is generally recognized in the segment responsible for the related product or service, with allocations to the other segments or businesses involved in the transaction. The segment and business results reflect these revenue-sharing agreements.

Funds transfer pricing
Funds transfer pricing (“FTP”) is the process by which the Firm allocates interest income and expense to the LOBs and Other Corporate and transfers the primary interest rate risk and liquidity risk to Treasury and CIO.
The funds transfer pricing process considers the interest rate and liquidity risk characteristics of assets and liabilities and off-balance sheet products. Periodically, the methodology and assumptions utilized in the FTP process are adjusted to reflect economic conditions and other factors, which may impact the allocation of net interest income to the segments.
Foreign exchange risk
Foreign exchange risk is transferred from the LOBs and Other Corporate to Treasury and CIO for certain revenues and expenses. Treasury and CIO manages these risks centrally and reports the impact of foreign exchange rate movements related to the transferred risk in its results.
Capital allocation
The amount of capital assigned to each LOB and Corporate is referred to as equity. At least annually, the assumptions, judgments and methodologies used to allocate capital are reassessed and, as a result, the capital allocated to the LOBs and Corporate may change. Refer to Note 32 of JPMorganChase’s 2025 Form 10-K for additional information on capital allocation.
Segment & Corporate results
The following table provides a summary of the Firm’s segment results as of or for the three and six months ended June 30, 2026 and 2025, on a managed basis. The Firm’s definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm
(and each of the reportable business segments) on an FTE basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. Refer to Note 32 of JPMorganChase’s 2025 Form 10-K for additional information on the Firm’s managed basis.
Segment & Corporate results and reconciliation(a)
As of or for the three months
ended June 30,
(in millions, except ratios)		Consumer &
Community Banking		Commercial &
Investment Bank		Asset & Wealth Management
202620252026202520262025
Noninterest revenue$5,180$4,452$16,954$13,792$5,042$4,073
Net interest income15,09214,3957,8995,7431,8091,687
Total net revenue20,27218,84724,85319,5356,8515,760
Provision for credit losses
2,1562,0823566961346
Compensation expense(b)
4,6824,260
(f)
5,5444,815
(f)
2,3222,083
(f)
Noncompensation expense(c)(d)
6,4265,598
(f)
5,8464,826
(f)
1,8851,650
(f)
Total noninterest expense11,1089,85811,3909,6414,2073,733
Income/(loss) before income tax expense/(benefit)
7,0086,90713,1079,1982,6311,981
Income tax expense/(benefit)1,6971,7383,4292,548674508
Net income$5,311$5,169$9,678$6,650$1,957$1,473
Average equity
$61,500$56,000$172,198
(g)
$149,500$16,000$16,000
Total assets672,612652,3792,709,3572,260,825323,243268,966
ROE34 %36 %22 %17 %48 %36 %
Overhead ratio55 52 46 49 61 65 
As of or for the three months
ended June 30,
(in millions, except ratios)		Corporate
Reconciling Items(a)
Total
202620252026202520262025
Noninterest revenue$5,224
(e)
$49$(564)$(663)$31,836$21,703
Net interest income8221,489(111)(105)25,51123,209
Total net revenue6,0461,538(675)(768)57,34744,912
Provision for credit losses
(10)25——2,5152,849
Total noninterest expense(d)
611547
(f)
——27,31623,779
Income/(loss) before income tax expense/(benefit)5,445966(675)(768)27,51618,284
Income tax expense/(benefit)1,236(729)(675)(768)6,3613,297
Net income
$4,209$1,695$—$—$21,155$14,987
Average equity
$93,448$108,297NANA$343,146$329,797
Total assets1,309,8571,370,312NANA5,015,0694,552,482
ROENMNMNMNM24 %18 %
Overhead ratioNMNMNMNM48 53 
As of or for the six months
ended June 30,
(in millions, except ratios)		Consumer &
Community Banking		Commercial &
Investment Bank		Asset & Wealth Management
202620252026202520262025
Noninterest revenue$10,010$8,623$32,344$27,614$9,690$8,066
Net interest income29,83028,53715,88811,5873,5353,425
Total net revenue39,84037,16048,23239,20113,22511,491
Provision for credit losses4,2064,7118381,401(11)36
Compensation expense(b)
9,3048,635
(f)
11,2849,942
(f)
4,6614,150
(f)
Noncompensation expense(c)(d)
12,78311,080
(f)
11,2429,541
(f)
3,7133,296
(f)
Total noninterest expense22,08719,71522,52619,4838,3747,446
Income/(loss) before income tax expense/(benefit)13,54712,73424,86818,3174,8624,009
Income tax expense/(benefit)3,2603,1406,1464,7251,130953
Net income
$10,287$9,594$18,722$13,592$3,732$3,056
Average equity$61,500$56,000$169,365
(g)
$149,500$16,000$16,000
Total assets672,612652,3792,709,3572,260,825323,243268,966
ROE33 %34 %22 %18 %46 %38 %
Overhead ratio55 53 47 50 63 65 
As of or for the six months
ended June 30,
(in millions, except ratios)		Corporate
Reconciling Items(a)
Total
202620252026202520262025
Noninterest revenue$5,413
(e)
$702$(1,151)$(1,265)$56,306$43,740
Net interest income1,8483,140(224)(207)50,87746,482
Total net revenue7,2613,842(1,375)(1,472)107,18390,222
Provision for credit losses
(11)6——5,0226,154
Total noninterest expense(d)
1,179732
(f)
——54,16647,376
Income/(loss) before income tax expense/(benefit)6,0933,104(1,375)(1,472)47,99536,692
Income tax expense/(benefit)1,185(284)(1,375)(1,472)10,3467,062
Net income
$4,908$3,388$—$—$37,649$29,630
Average equity
$95,239$105,586NANA$342,104$327,086
Total assets1,309,8571,370,312NANA5,015,0694,552,482
ROENMNMNMNM22 %18 %
Overhead ratioNMNMNMNM51 53 
(a)Segment managed results reflect revenue on an FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results.
(b)Excludes expense related to services provided by Corporate support units, which is recorded in and allocated from Corporate to each respective reportable business segment, as applicable, through noncompensation expense.
(c)Reflects occupancy; technology, communications and equipment; professional and outside services; marketing; and other expense. Refer to Note 5 for additional information on other expense.
(d)Certain services are provided by Corporate and used by each of the reportable business segments. The costs of these services, including compensation expense, are recorded in and allocated from Corporate to the respective reportable business segments, with the allocations recorded in noncompensation expense. For the three months ended June 30, 2026 and 2025, compensation expense allocated from Corporate to CCB was $815 million and $785 million, to CIB was $1.2 billion and $1.1 billion, and to AWM was $287 million and $272 million, respectively; and for the six months ended June 30, 2026 and 2025, the expense allocation to CCB was $1.6 billion each, to CIB was $2.4 billion and $2.3 billion, and to AWM was $587 million and $541 million, respectively.
(e)Included a $4.6 billion net gain related to Visa shares and $763 million of gains on certain equity investments. Refer to Notes 2 and 5 for additional information.
(f)In the first quarter of 2026, Risk functions that were previously aligned with the LOBs were centralized into Corporate. As a result, the employees and compensation expense related to those functions are now reflected in Corporate, and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.
(g)During the three months ended June 30, 2026, the capital allocated to CIB from Corporate was increased by $8.5 billion, compared with the capital allocated in the first quarter of 2026, in connection with growth in the business.