J.P.Morgan 4Q23 Earnings Results
JPMORGAN CHASE & CO.
EARNINGS PER SHARE AND RELATED INFORMATION
(in millions, except per share and ratio data)
EARNINGS PER SHARE
Basic earnings per share
Net income
Less: Preferred stock dividends
Net income applicable to common equity
Less: Dividends and undistributed earnings allocated to
participating securities
Net income applicable to common stockholders
Total weighted-average basic shares outstanding
Net income per share
Diluted earnings per share
Net income applicable to common stockholders
Total weighted-average basic shares outstanding
Add: Dilutive impact of unvested performance share units
("PSUS"), nondividend-earning restricted stock units
("RSUS") and stock appreciation rights ("SARS")
Total weighted-average diluted shares outstanding
Net income per share
COMMON DIVIDENDS
Cash dividends declared per share
Dividend payout ratio
COMMON SHARE REPURCHASE PROGRAM (a)
Total shares of common stock repurchased
Average price paid per share of common stock
Aggregate repurchases of common stock
EMPLOYEE ISSUANCE
Shares issued from treasury stock related to employee
stock-based compensation awards and employee stock
purchase plans
Net impact of employee issuances on stockholders' equity (b)
$
$
$
$
4Q23
9,307
386
8,921
$
51
8,870
2,914.4
3.04
8,870
2,914.4
4.7
2,919.1
3.04
$ 1.05
34%
15.2
$ 151.02
2,301
0.8
308
$ 13,151
386
12,765
$
$
$
$
3Q23
$
80
12,685
2,927.5
4.33
12,685
2,927.5
4.6
2,932.1
4.33
1.05
24 %
15.6
$ 151.46
2,364
0.6
368
$ 14,472
373
14,099
$
$
$
$
(c) $
2Q23
$
88
14,011
2,943.8
4.76
14,011
2,943.8
4.5
2,948.3
4.75
1.00
16.7
$ 137.20
2,293
21 %
QUARTERLY TRENDS
0.5
467
$ 12,622
356
12,266
73
$ 12,193
$
1Q23
$
$
2,968.5
4.11
12,193
2,968.5
4.2
2,972.7
4.10
1.00
24%
22.0
$ 133.67
2.940
10.0
$ 1,028
$
$
$
$
2,962.9
$ 3.58
$
$
4Q22
$
11,008
356
10,652
54
10,598
10,598
2,962.9
4.2
2,967.1
3.57
1.00
28%
1.2
273
4Q23 Change
3Q23
(29)%
(30)
(36)
(30)
(30)
(30)
2
(30)
T
(3)
33
(16)
JPMORGAN CHASE & CO.
4Q22
(15)%
8
(16)
(6)
(16)
(2)
(15)
(16)
(2)
12
(2)
(15)
5
NM
NM
NM
(33)
13
$
$
$
$
2023
$
49,552
1,501
48,051
$ 47,760
2,938.6
291
47,760
2,938.6
16.25
4.5
2,943.1
16.23
4.10
25 %
69.5
142.31
9,898
11.9
$ 2,171
FULL YEAR
$37,676
1,595
36,081
2022
189
$ 35,892
$
$ 35,892
2,965.8
$
2,965.8
12.10
4.2
2,970.0
12.09
4.00
33 %
23.1
135.20
3,122
13.3
1,818
2023 Change
2022
32%
(6)
33
54
33
(1)
34
33
(1)
7
(1)
34
2
201
5
217
(11)
19
(a) The Firm is authorized to purchase up to $30 billion of common shares under its current repurchase program. In the second half of 2022, as a result of the expected increases in regulatory capital requirements, the Firm temporarily suspended share repurchases. In the first quarter
of 2023, the Firm resumed repurchasing shares under its common share repurchase program.
(b) The net impact of employee issuances on stockholders' equity is driven by the cost of equity compensation awards that is recognized over the applicable vesting periods. The cost is partially offset by tax impacts related to the distribution of shares and the exercise of SARS.
(c) On September 19, 2023, the Board of Directors declared a quarterly common stock dividend of $1.05 per share.
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