JPMorgan Chase & Co. (JPM) 8-K Jpmorgan Chase Reports 2004 Third Quarter Net Income of $1.4 Billion after Merger and Conforming Accounting Charges of $741 Million

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)	2004
Excluding Interest on Deposits
Income before income taxes	$	3,787
Fixed charges:
Interest expense		6,176
One-third of rents, net of income from subleases(a)		248
Total fixed charges		6,424
Add: Equity in undistributed loss of affiliates		20
Earnings before taxes and fixed charges, excluding capitalized interest	$	10,231
Fixed charges, as above	$	6,424
Preferred stock dividends (pre-tax)		53
Fixed charges including preferred stock dividends	$	6,477
Ratio of earnings to fixed charges and preferred stock dividend requirements		1.58
Including Interest on Deposits
Fixed charges including preferred stock dividends, as above	$	6,477
Add: Interest on deposits		3,125
Total fixed charges including preferred stock dividends and interest on deposits	$	9,602
Earnings before taxes and fixed charges, excluding capitalized interest, as above	$	10,231
Add: Interest on deposits		3,125
Total earnings before taxes, fixed charges and interest on deposits	$	13,356
Ratio of earnings to fixed charges and preferred stock dividend requirements		1.39

(a) The proportion deemed representative of the interest factor.