JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 85: JPMorgan Chase & Co.
Consolidated balance sheets (unaudited)
|    |                                                                                                                                  |                |           |                   |           |    |           |
|---:|:---------------------------------------------------------------------------------------------------------------------------------|:---------------|:----------|:------------------|:----------|:---|:----------|
|  1 | (in millions, except share data)                                                                                                 | March 31, 2024 |           | December 31, 2023 |           |    |           |
|  2 | Assets                                                                                                                           |                |           |                   |           |    |           |
|  3 | Cash and due from banks                                                                                                          | $              | 22,750    |                   |           | $  | 29,066    |
|  4 | Deposits with banks                                                                                                              | 539,366        |           |                   | 595,085   |    |           |
|  5 | Federal funds sold and securities purchased under resale agreements (included $324,418 and $259,813 at fair value)               | 330,559        |           |                   | 276,152   |    |           |
|  6 | Securities borrowed (included $84,258 and $70,086 at fair value)                                                                 | 198,336        |           |                   | 200,436   |    |           |
|  7 | Trading assets (included assets pledged of $180,196 and $128,994)                                                                | 754,409        |           |                   | 540,607   |    |           |
|  8 | Available-for-sale securities (amortized cost of $239,813 and $205,456; included assets pledged of $10,806 and $9,219)           | 236,152        |           |                   | 201,704   |    |           |
|  9 | Held-to-maturity securities                                                                                                      | 334,527        |           |                   | 369,848   |    |           |
| 10 | Investment securities, net of allowance for credit losses                                                                        | 570,679        |           |                   | 571,552   |    |           |
| 11 | Loans (included $39,046 and $38,851 at fair value)                                                                               | 1,309,616      |           |                   | 1,323,706 |    |           |
| 12 | Allowance for loan losses                                                                                                        | (22,351)       |           |                   | (22,420)  |    |           |
| 13 | Loans, net of allowance for loan losses                                                                                          | 1,287,265      |           |                   | 1,301,286 |    |           |
| 14 | Accrued interest and accounts receivable                                                                                         | 129,823        |           |                   | 107,363   |    |           |
| 15 | Premises and equipment                                                                                                           | 30,279         |           |                   | 30,157    |    |           |
| 16 | Goodwill, MSRs and other intangible assets                                                                                       | 64,374         |           |                   | 64,381    |    |           |
| 17 | Other assets (included $15,645 and $12,306 at fair value and assets pledged of $9,811 and $6,764)                                | 162,887        |           |                   | 159,308   |    |           |
| 18 | Total assets(a)                                                                                                                  | $              | 4,090,727 |                   |           | $  | 3,875,393 |
| 19 | Liabilities                                                                                                                      |                |           |                   |           |    |           |
| 20 | Deposits (included $80,578 and $78,384 at fair value)                                                                            | $              | 2,428,409 |                   |           | $  | 2,400,688 |
| 21 | Federal funds purchased and securities loaned or sold under repurchase agreements (included $264,554 and $169,003 at fair value) | 325,670        |           |                   | 216,535   |    |           |
| 22 | Short-term borrowings (included $22,856 and $20,042 at fair value)                                                               | 46,268         |           |                   | 44,712    |    |           |
| 23 | Trading liabilities                                                                                                              | 228,327        |           |                   | 180,428   |    |           |
| 24 | Accounts payable and other liabilities (included $8,917 and $5,637 at fair value)                                                | 301,469        |           |                   | 290,307   |    |           |
| 25 | Beneficial interests issued by consolidated VIEs (included $1 and $1 at fair value)                                              | 28,075         |           |                   | 23,020    |    |           |
| 26 | Long-term debt (included $92,730 and $87,924 at fair value)                                                                      | 395,872        |           |                   | 391,825   |    |           |
| 27 | Total liabilities(a)                                                                                                             | 3,754,090      |           |                   | 3,547,515 |    |           |
| 28 | Commitments and contingencies (refer to Notes 22, 23 and 24)                                                                     |                |           |                   |           |    |           |
| 29 | Stockholders' equity                                                                                                             |                |           |                   |           |    |           |
| 30 | Preferred stock ($1 par value; authorized 200,000,000 shares; issued 2,990,375 and 2,740,375 shares)                             | 29,900         |           |                   | 27,404    |    |           |
| 31 | Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)                                        | 4,105          |           |                   | 4,105     |    |           |
| 32 | Additional paid-in capital                                                                                                       | 89,903         |           |                   | 90,128    |    |           |
| 33 | Retained earnings                                                                                                                | 342,414        |           |                   | 332,901   |    |           |
| 34 | Accumulated other comprehensive losses                                                                                           | (11,639)       |           |                   | (10,443)  |    |           |
| 35 | Treasury stock, at cost (1,233,266,016 and 1,228,275,301 shares)                                                                 | (118,046)      |           |                   | (116,217) |    |           |
| 36 | Total stockholders' equity                                                                                                       | 336,637        |           |                   | 327,878   |    |           |
| 37 | Total liabilities and stockholders' equity                                                                                       | $              | 4,090,727 |                   |           | $  | 3,875,393 |
(a)The following table presents information on assets and liabilities related to VIEs that are consolidated by the Firm at March 31, 2024 and December 31, 2023. The assets of the consolidated VIEs are used to settle the liabilities of those entities. The holders of the beneficial interests generally do not have recourse to the general credit of JPMorgan Chase. The assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs and exclude intercompany balances that eliminate in consolidation. Refer to Note 13 for a further discussion.
|    |                                                  |                |        |                   |        |    |        |
|---:|:-------------------------------------------------|:---------------|:-------|:------------------|:-------|:---|:-------|
|  1 | (in millions)                                    | March 31, 2024 |        | December 31, 2023 |        |    |        |
|  2 | Assets                                           |                |        |                   |        |    |        |
|  3 | Trading assets                                   | $              | 2,229  |                   |        | $  | 2,170  |
|  4 | Loans                                            | 40,059         |        |                   | 37,611 |    |        |
|  5 | All other assets                                 | 648            |        |                   | 591    |    |        |
|  6 | Total assets                                     | $              | 42,936 |                   |        | $  | 40,372 |
|  7 | Liabilities                                      |                |        |                   |        |    |        |
|  8 | Beneficial interests issued by consolidated VIEs | $              | 28,075 |                   |        | $  | 23,020 |
|  9 | All other liabilities                            | 282            |        |                   | 263    |    |        |
| 10 | Total liabilities                                | $              | 28,357 |                   |        | $  | 23,283 |

 The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.

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Question: What was the Debt to Equity Ratio for JPMorgan Chase as of March 31, 2024?
Answer: The Debt Equity Ratio for JPMorgan Chase as of March 31, 2024, is calculated as follows:
Debt Equity Ratio = Total Debt / Shareholders' Equity
Total Debt (2024) = $3,754,090 million
Shareholders' Equity (2024) = $336,637 million
Debt Equity Ratio = 3,754,090 / 336,637 = 11.15