EXHIBIT 12.2
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
and Preferred Stock Dividend Requirements
Six months ended June 30, (in millions, except ratios) | 2006 | |||
Excluding Interest on Deposits | ||||
Income from continuing operations before income taxes | $ | 9,775 | ||
Fixed charges: | ||||
Interest expense | 9,638 | |||
One-third of rents, net of income from subleases(a) | 173 | |||
Total fixed charges | 9,811 | |||
Less: Equity in undistributed income of affiliates | (76 | ) | ||
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest | $ | 19,510 | ||
Fixed charges, as above | $ | 9,811 | ||
Preferred stock dividends (pre-tax) | 6 | |||
Fixed charges including preferred stock dividends | $ | 9,817 | ||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.99 | |||
Including Interest on Deposits | ||||
Fixed charges including preferred stock dividends, as above | $ | 9,817 | ||
Add: Interest on deposits | 7,669 | |||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 17,486 | ||
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above | $ | 19,510 | ||
Add: Interest on deposits | 7,669 | |||
Total income from continuing operations before income taxes, fixed charges and interest on deposits | $ | 27,179 | ||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.55 | |||
(a) | The proportion deemed representative of the interest factor. |