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  "documentTitle": "J.P.Morgan | Shareholder Engagement Presentation Deck | 17 slides",
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      "text": "1. Tangible common equity (\"TCE\"), ROTCE, TBVPS and Pre-tax income ex. LLR are each non-GAAP financial measures. TCE represents the Firm's common stockholders' equity (i.e., total stockholders' equity less preferred stock) less goodwill and identifiable intangible assets (other than mortgage servicing rights), net of related deferred tax liabilities. ROTCE measures the Firm's net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm's TCE at period-end divided by common shares at period-end. Pre-tax income ex. LLR represents income on a managed basis before income tax expense (pre-tax income) excluding the change in loan loss reserves. This reflects the exclusion of the portion of the provision for credit losses attributable to the change in allowance for credit losses. TCE, ROTCE and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm's use of equity. Pre-tax income ex. LLR is utilized by the Firm to assess the Firm's operating performance. The following tables provide reconciliations and calculations of these measures for the periods presented.",
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      "text": "2. In addition to analyzing the Firm's results on a reported basis, management reviews Firmwide results on a \"managed\" basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the lines of business on a \"managed\" basis. The Firm's definition of managed basis starts, in each case, 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 a fully taxable-equivalent 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. These financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business.",
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      "text": "(b) Represents net income applicable to common equity / average common stockholders' equity.",
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      "text": "(a) Predominantly recognized in Corporate & Investment Bank, Commercial Banking and Corporate.",
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      "text": "(a) Represents deferred tax liabilities related to tax-deductible goodwill and to identifiable intangibles created in nontaxable transactions, which are netted against goodwill and other intangibles when calculating TCE.",
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      "text": "(c) Represents net income applicable to common equity / average TCE.",
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      "text": "Pre-tax income ex. LLR For the year ended December 31, Firmwide CCB CB (in millions) 2019 2020 2021 2022 2022 2022 Reported pre-tax income $ 44,866 $33,815 $ 59,562 $46,166 Fully taxable-equivalent adjustment 2,744 2,978 3.655 3,582 Managed basis pre-tax income 47,610 38,793 63,217 49,748 $ 19,733 $5,546 Change in loan loss reserves (44) 12,221 (12,122) 3,544 1,130 1,184 Pre-tax income ex. LLR $ 47,566 $51,014 $51,095 $ 53,292 $ 20,863 $6.730",
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      "text": "Managed basis Total net revenue For the year ended December 31, (in millions) 2021 2022 Reported Total net revenue $ 121,649 $ 128,695 Fully taxable-equivalent adjustment (a) 3,655 3,582 Managed basis Total net revenue $ 125,304 $ 132,277",
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      "text": "Average TCE, ROE, ROTCE (in millions, except per share and ratio data) 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Common stockholders' equity $ 105,507 $ 110,697 $ 118,723 $ 128,116 $ 145,903 $ 161,520 $ 173,266 $ 184,352 $196,409 $ 207,400 $ 215,690 $ 224,631 $ 230,350 $ 229,222 $ 232,907 $ 236,865 $ 250,968 $ 253,068 Less: Goodwill 43,074 43,872 45,226 46,068 48,254 48,618 48,632 48,176 48,102 48,029 47,445 47,310 47,317 47,491 47,620 47,820 49,584 50,952 Less: Other intangible assets 8,344 7,420 6,684 5,779 5,095 4,178 3,632 2,833 1,950 1,378 1,092 922 832 807 789 781 876 1,112 Add: Certain deferred tax liabilities(a) 2,104 2,025 2,966 2,369 2,547 2,587 2,635 2,754 2,885 2,950 2,964 3,212 3,116 2,231 2,328 2,399 2,474 2,505 Tangible common equity 56,193 61,430 69,779 79,638 95,101 111,311 123,637 $136,097 $149,242 $ 160,943 $170,117 $179,611 $185,317 $183,155 $186,826 $190,663 $ 202,982 $ 203,509 Net income applicable to common equity 8,470 14,440 15,365 4,931 9,289 16,728 18,327 $ 20,606 $ 17,081 $ 20,620 $ 22,927 $ 23,086 $ 22,778 $30,923 $34,844 $27,548 $ 46,734 $ 36,081 Return on common equity(b) 8% 13% 13% 4% 6% 10% 11% 11% 9% 10% 11% 10% 10% 13% 15% 12% 19% 14% Return on tangible common equity(c) 15 24 22 6 10 15 15 15 11 13 13 13 12 17 19 14 23 18",
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      "text": "NON-GAAP RECONCILIATIONS",
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      "text": "NOTES ON NON-GAAP FINANCIAL MEASURES",
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