JPMORGAN CHASE & CO

For the period ended Sep 30, 2024. Filed Oct 30, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Oct 30, 2024

JPM$334.49-0.8%Stored close · as of Nov 6, 2026

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Contents

Accounting and Reporting Developments

FASB Standards Adopted since January 1, 2024
Standard	Summary of guidance	Effects on financial statements
Fair Value Measurement: Fair Value Measurement of Equity Securities Subject to Contractual Sale RestrictionsIssued June 2022	•Clarifies that a contractual sale restriction is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value.•Requires disclosure for investments in equity securities subject to contractual sale restrictions, including: 1) fair value of these investments, 2) nature and remaining duration of the restriction(s) and 3) circumstances that could cause a lapse in the restriction(s).	•Adopted prospectively on January 1, 2024, with no impact to the Firm’s consolidated financial statements.
Investments - Equity Method and Joint Ventures: Accounting for Investments in Tax Credit Structures Using the Proportional Amortization MethodIssued March 2023	•Expands the ability to elect proportional amortization on a program-by-program basis, for additional types of tax-oriented investments (beyond affordable housing tax credit investments).•May be adopted using a full retrospective method, or a modified retrospective method wherein the effect of adoption is reflected as an adjustment to retained earnings at the effective date.	•Adopted under the modified retrospective method on January 1, 2024.•Refer to Note 1 for further information.
FASB Standards Issued but not yet Adopted
Standard	Summary of guidance	Effects on financial statements
Segment Reporting: Improvements to Reportable Segment DisclosuresIssued November 2023	•Requires disclosure of significant segment expenses that are readily provided to the chief operating decision maker (“CODM”) and included in segment profit or loss.•Requires disclosure of the composition and aggregate amount of other segment items, which represent the difference between profit or loss and segment revenues less significant segment expenses.•Requires disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported segment measures in assessing segment performance and deciding how to allocate resources.	•Required effective date: Annual financial statements for the year ending December 31, 2024 and for interim financial statements thereafter.(a)•The Firm is currently assessing the potential impact on its segment disclosures.
Income Taxes: Improvements to Income Tax DisclosuresIssued December 2023	•Requires disclosure of income taxes paid disaggregated by 1) federal, state, and foreign taxes and 2) individual jurisdiction on the basis of a quantitative threshold of equal to or greater than 5 percent of total income taxes paid (net of refunds received).•Requires disclosure of the effective tax rate reconciliation by specific categories, at a minimum, with accompanying qualitative disclosures, and separate disclosure of reconciling items based on quantitative thresholds. •Requires categories within the effective tax rate reconciliation to be further disaggregated if quantitative thresholds are met.	•Required effective date: Annual financial statements for the year ending December 31, 2025.(a)•The guidance can be applied on a prospective basis with the option to apply the standard retrospectively.•The Firm is evaluating the potential impact on the Consolidated Financial Statements disclosures, as well as the Firm’s planned date of adoption.

(a) Early adoption is permitted.

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