Consolidated statements of changes in stockholders’ equity Effective January 1, 2020, the Firm adopted the CECL accounting guidance. Refer to Note 1 for further information. The Notes to Consolidated Financial Statements are an integral part of these statements. 165 JPMorgan Chase & Co./2020 Form 10-K Year ended December 31, (in millions, except per share data) 2020 2019 2018 Preferred stock Balance at January 1 $ 26,993 $ 26,068  $ 26,068  Issuance 4,500 5,000  1,696  Redemption (1,430) (4,075) (1,696) Balance at December 31 30,063 26,993  26,068  Common stock Balance at January 1 and December 31 4,105 4,105  4,105  Additional paid-in capital Balance at January 1 88,522 89,162  90,579  Shares issued and commitments to issue common stock for employee share-based compensation awards, and related tax effects (72) (591) (738) Other (56) (49) (679) Balance at December 31 88,394 88,522  89,162  Retained earnings Balance at January 1 223,211 199,202  177,676  Cumulative effect of change in accounting principles (2,650) 62  (183) Net income 29,131 36,431  32,474  Dividends declared: Preferred stock (1,583) (1,587) (1,551) Common stock ( $3.60 , $3.40 and $2.72 per share for 2020, 2019 and 2018, respectively) (11,119) (10,897) (9,214) Balance at December 31 236,990 223,211  199,202  Accumulated other comprehensive income Balance at January 1 1,569 (1,507) (119) Cumulative effect of change in accounting principles — —  88  Other comprehensive income/(loss), after-tax 6,417 3,076  (1,476) Balance at December 31 7,986 1,569  (1,507) Shares held in RSU Trust, at cost Balance at the beginning of the period (21) (21) (21) Liquidation of RSU Trust 21 —  —  Balance at December 31 — (21) (21) Treasury stock, at cost Balance at January 1 (83,049) (60,494) (42,595) Repurchase (6,397) (24,121) (19,983) Reissuance 1,262 1,566  2,084  Balance at December 31 (88,184) (83,049) (60,494) Total stockholders’ equity $ 279,354 $ 261,330  $ 256,515 