JPMORGAN CHASE & CO
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
JPM$334.49-0.8%Stored close · as of Nov 6, 2026
Contents
Accounting and Reporting Developments
| Financial Accounting Standards Board (“FASB”) Standards Adopted since January 1, 2025 | ||
|---|---|---|
| Standard | Summary of guidance | Effects on financial statements |
| 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. | •Adopted retrospectively for the Firm’s annual Consolidated Financial Statements for the year ended December 31, 2025.•The adoption of this guidance resulted in expanded income tax disclosures, including more detailed information about the Firm’s effective tax rate and income tax expense reconciliation by specific categories, as well as disclosure of income taxes paid, disaggregated by jurisdiction. Refer to Note 25 for further information. |
| FASB Standards Issued but not yet Adopted as of December 31, 2025 | ||
|---|---|---|
| Standard | Summary of guidance | Effects on financial statements |
| Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures: Disaggregation of Income Statement ExpensesIssued November 2024 | •Requires additional disaggregation of specific types of expenses within the Notes to the Consolidated Financial Statements on an annual and interim basis. | •Required effective date: Annual financial statements for the year ending December 31, 2027.(a)•The guidance may be applied on a prospective or retrospective basis.•The Firm is evaluating the potential impact on the Consolidated Financial Statements disclosures, as well as the Firm’s planned date of adoption. |
| Derivatives and Hedging and Revenue from Contracts with Customers: Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue ContractIssued September 2025 | •No longer requires derivative accounting treatment for certain contracts where the underlying variable is solely based on the specific operations or activities of one of the contracting parties. The new guidance also clarifies the applicability of derivative accounting treatment to contracts with both in scope and out of scope terms.•Clarifies the accounting for share-based payments from a customer in exchange for goods or services. | •Required effective date: January 1, 2027.(a)•The guidance may be applied on a prospective or modified retrospective basis.•The Firm is evaluating the potential impact on the Consolidated Financial Statements, as well as the Firm's planned date of adoption. |
| Intangibles - Goodwill and Other - Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use SoftwareIssued September 2025 | •Amends the cost capitalization guidance by removing all references to software development project stages to better align with current software development methods.•Requires software cost capitalization to begin when 1) management has authorized and committed to funding the software project, and 2) it is probable that the software will be completed and used to perform its intended function. | •Required effective date: January 1, 2028.(a)•The guidance may be applied on a prospective, modified, or retrospective transition basis.•The Firm is evaluating the potential impact on the Consolidated Financial Statements, as well as the Firm’s planned date of adoption. |
| Financial Instruments - Credit Losses: Purchased LoansIssued November 2025 | •Establishes an additional allowance framework for purchased, seasoned held-for-investment loans, excluding credit cards.•Requires that management’s initial estimate of expected credit losses be recognized as an increase to the allowance for credit losses with a corresponding increase to the loan’s amortized cost. | •Required effective date: January 1, 2027.(a)•The guidance is required to be applied on a prospective basis.•The Firm is evaluating the potential impact on the Consolidated Financial Statements, as well as the Firm’s planned date of adoption. |
| Derivatives and Hedging: Hedge Accounting ImprovementsIssued November 2025 | •Amends the hedge accounting guidance to allow different risks to be pooled in the same portfolio for cash flow hedging, if the hedging instrument is highly effective against each hedged risk in the portfolio.•Provides greater flexibility and expands eligibility for hedge accounting, including hedges of nonfinancial transactions, variable rate borrowings, net investment hedges, and hedges involving the use of written options. | •Required effective date: January 1, 2027.(a)•The guidance is required to be applied on a prospective basis.•The Firm is evaluating the potential impact on the Consolidated Financial Statements, as well as the Firm’s planned date of adoption. |
(a)Early adoption is permitted.
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