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) | 2014 |
|
| Excluding interest on deposits | |
| Income before income tax expense | $ | 23,529 |
|
| Fixed charges: | |
| Interest expense | 4,766 |
|
One-third of rents, net of income from subleases (a) | 479 |
|
| Total fixed charges | 5,245 |
|
| Add: Equity in undistributed loss of affiliates | 739 |
|
| Income before income tax expense and fixed charges, excluding capitalized interest | $ | 29,513 |
|
| Fixed charges, as above | $ | 5,245 |
|
| Preferred stock dividends (pre-tax) | 1,117 |
|
| Fixed charges including preferred stock dividends | $ | 6,362 |
|
| Ratio of earnings to fixed charges and preferred stock dividend requirements | 4.64 |
|
| Including interest on deposits | |
| Fixed charges including preferred stock dividends, as above | $ | 6,362 |
|
| Add: Interest on deposits | 1,242 |
|
| Total fixed charges including preferred stock dividends and interest on deposits | $ | 7,604 |
|
| Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 29,513 |
|
| Add: Interest on deposits | 1,242 |
|
| Total income before income tax expense, fixed charges and interest on deposits | $ | 30,755 |
|
| Ratio of earnings to fixed charges and preferred stock dividend requirements | 4.04 |
|
| |
| (a) | The proportion deemed representative of the interest factor. |
