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  "documentTitle": "2022 corporate investment bank investor day",
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  "authorName": "JPMorgan Chase & Co.",
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  "notes": "Includes a table reconciling reported vs adjusted figures for 2019 and 2021.",
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      "text": "2. Financials are as reported unless noted otherwise. In the first quarter of 2020, the Merchant Services business was realigned from CCB to CIB. Financials from 2017 onward were revised to conform with the current presentation.",
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      "text": "Adjusted ROE: 25%",
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      "text": "1. The CIB provides certain non-GAAP financial measures. These measures should be viewed in addition to, and not as a substitute for, the CIB's reported results.",
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      "text": "The non-GAAP financial measures on pages 5 and 16 exclude the impact of legal expense. Adjusted ROE on page 16 is calculated as net income after preferred stock costs excluding the impact of legal expense divided by average equity. CIB average equity was $80B and $83B for 2019 and 2021, respectively. The table below provides a reconciliation of reported results to these non-GAAP financial measures.",
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      "text": "Adjusted ROE on page 2 is calculated as net income after preferred stock costs excluding credit reserve releases divided by average equity. Credit reserve releases net of tax were $(602)mm and $(1,483)mm for 2011 and 2021, respectively. CIB average equity was $47B and $83B for 2011 and 2021, respectively.",
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