12-39 Earnings per Share As of December 31, 2011, JPMorgan Chase & Co. was one of the largest banking institutions in the United States with $2.3 trillion in assets, $183.6 billion in stockholders' equity, and opera- tions in more than 60 countries. For the year ended December 31, 2011, JPMorgan Chase had net income of $18,976 million and paid preferred dividends of $1,408 million. An average of 3,900 million common shares were outstanding during the year