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) | 2015 | ||
| Excluding interest on deposits | |||
| Income before income tax expense | $ | 23,331 | |
| Fixed charges: | |||
| Interest expense | 4,568 | ||
One-third of rents, net of income from subleases (a) | 401 | ||
| Total fixed charges | 4,969 | ||
| Add: Equity in undistributed loss of affiliates | 209 | ||
| Income before income tax expense and fixed charges, excluding capitalized interest | $ | 28,509 | |
| Fixed charges, as above | $ | 4,969 | |
| Preferred stock dividends (pre-tax) | 1,545 | ||
| Fixed charges including preferred stock dividends | $ | 6,514 | |
| Ratio of earnings to fixed charges and preferred stock dividend requirements | 4.38 | ||
| Including interest on deposits | |||
| Fixed charges including preferred stock dividends, as above | $ | 6,514 | |
| Add: Interest on deposits | 965 | ||
| Total fixed charges including preferred stock dividends and interest on deposits | $ | 7,479 | |
| Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 28,509 | |
| Add: Interest on deposits | 965 | ||
| Total income before income tax expense, fixed charges and interest on deposits | $ | 29,474 | |
| Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.94 | ||
| (a) | The proportion deemed representative of the interest factor. |