Consolidated statements of changes in stockholders’ equity Year ended December 31, (in millions, except per share data) 2018 2017 2016 Preferred stock Balance at January 1 $ 26,068 $ 26,068 $ 26,068 Issuance 1,696 1,258 — Redemption (1,696) (1,258) — Balance at December 31 26,068 26,068 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 90,579 91,627 92,500 Shares issued and commitments to issue common stock for employee share-based compensation awards, and related tax effects (738) (734) (334) Other (679) (314) (539) Balance at December 31 89,162 90,579 91,627 Retained earnings Balance at January 1 177,676 162,440 146,420 Cumulative effect of change in accounting principles (183) — (154) Net income 32,474 24,441 24,733 Dividends declared: Preferred stock (1,551) (1,663) (1,647) Common stock ( $2.72 , $2.12 and $1.88 per share for 2018, 2017 and 2016, respectively) (9,214) (7,542) (6,912) Balance at December 31 199,202 177,676 162,440 Accumulated other comprehensive income Balance at January 1 (119) (1,175) 192 Cumulative effect of change in accounting principles 88 — 154 Other comprehensive income/(loss), after-tax (1,476) 1,056 (1,521) Balance at December 31 (1,507) (119) (1,175) Shares held in RSU Trust, at cost Balance at January 1 and December 31 (21) (21) (21) Treasury stock, at cost Balance at January 1 (42,595) (28,854) (21,691) Repurchase (19,983) (15,410) (9,082) Reissuance 2,084 1,669 1,919 Balance at December 31 (60,494) (42,595) (28,854) Total stockholders’ equity $ 256,515 $ 255,693 $ 254,190 Effective January 1, 2018, the Firm adopted several new accounting standards. For additional information, refer to Note 1. The Notes to Consolidated Financial Statements are an integral part of these statements. 153 JPMorgan Chase & Co./2018 Form 10-K