EXHIBIT 12.2
JPMorgan Chase & Co.
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
| Three Months ended March 31, (in millions, except ratios) | 2016 | ||
| Excluding interest on deposits | |||
| Income before income tax expense | $ | 7,578 | |
| Fixed charges: | |||
| Interest expense | 1,852 | ||
One-third of rents, net of income from subleases (a) | 132 | ||
| Total fixed charges | 1,984 | ||
| Less: Equity in undistributed income of affiliates | (2 | ) | |
| Income before income tax expense and fixed charges, excluding capitalized interest | $ | 9,560 | |
| Fixed charges, as above | $ | 1,984 | |
| Preferred stock dividends (pre-tax) | 580 | ||
| Fixed charges including preferred stock dividends | $ | 2,564 | |
| Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.73 | ||
| Including interest on deposits | |||
| Fixed charges including preferred stock dividends, as above | $ | 2,564 | |
| Add: Interest on deposits | 320 | ||
| Total fixed charges including preferred stock dividends and interest on deposits | $ | 2,884 | |
| Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 9,560 | |
| Add: Interest on deposits | 320 | ||
| Total income before income tax expense, fixed charges and interest on deposits | $ | 9,880 | |
| Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.43 | ||
| (a) | The proportion deemed representative of the interest factor. |