EXHIBIT 12.2
JPMorgan Chase & Co.
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
Nine months ended September 30, (in millions, except ratios) | 2013 | ||
Excluding interest on deposits | |||
Income before income tax expense | $ | 18,414 | |
Fixed charges: | |||
Interest expense | 5,724 | ||
One-third of rents, net of income from subleases (a) | 455 | ||
Total fixed charges | 6,179 | ||
Add: Equity in undistributed loss of affiliates | 574 | ||
Income before income tax expense and fixed charges, excluding capitalized interest | $ | 25,167 | |
Fixed charges, as above | $ | 6,179 | |
Preferred stock dividends (pre-tax) | 831 | ||
Fixed charges including preferred stock dividends | $ | 7,010 | |
Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.59 | ||
Including interest on deposits | |||
Fixed charges including preferred stock dividends, as above | $ | 7,010 | |
Add: Interest on deposits | 1,598 | ||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 8,608 | |
Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 25,167 | |
Add: Interest on deposits | 1,598 | ||
Total income before income tax expense, fixed charges and interest on deposits | $ | 26,765 | |
Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.11 |
(a) | The proportion deemed representative of the interest factor. |