FORTUNE — If you caught only a headline or two about JPMorgan Chase in the past year, you probably came away thinking the nation’s largest bank had hit a rough patch.
Not so much. On Tuesday, JPMorgan (JPM) said it earned nearly $18 billion in 2013. That’s about $3 billion more than the GDP of Jamaica. So yeah, (Jamie Di) Mon.
Nice year, but down from the $21 billion it made the year before. Still, 2013’s financials include all the money that JPMorgan had to spend to settle its legal battles, much of which are related to events that took place more than five years ago. The implication is that if you exclude that, the bank’s bottom line is actually much, much better.
The problem is legal fees are not the only one-time expense or benefit in JPMorgan’s financial statements.
MORE: By one key measure, JPMorgan is lending a lot less than it used to
So what did JPMorgan really make in 2013? Attempting to find that answer shows just how convoluted and opaque
We współpracy z: https://fortune.com/2014/01/15/what-jpmorgan-actually-earned-in-2013/
