EXHIBIT 12.1
JPMorgan Chase & Co.
Computation of Ratio of Earnings to Fixed Charges
Three months ended March 31, (in millions, except ratios) | 2013 | ||
Excluding interest on deposits | |||
Income before income tax expense | $ | 9,082 | |
Fixed charges: | |||
Interest expense | 1,949 | ||
One-third of rents, net of income from subleases (a) | 133 | ||
Total fixed charges | 2,082 | ||
Add: Equity in undistributed loss of affiliates | 68 | ||
Income before income tax expense and fixed charges, excluding capitalized interest | $ | 11,232 | |
Fixed charges, as above | $ | 2,082 | |
Ratio of earnings to fixed charges | 5.39 | ||
Including interest on deposits | |||
Fixed charges, as above | $ | 2,082 | |
Add: Interest on deposits | 545 | ||
Total fixed charges and interest on deposits | $ | 2,627 | |
Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 11,232 | |
Add: Interest on deposits | 545 | ||
Total income before income tax expense, fixed charges and interest on deposits | $ | 11,777 | |
Ratio of earnings to fixed charges | 4.48 |
(a) | The proportion deemed representative of the interest factor. |