EXHIBIT 12.2
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
and Preferred Stock Dividend Requirements
Nine months ended September 30, (in millions, except ratios) | 2006 | |||
Excluding Interest on Deposits | ||||
Income from continuing operations before income taxes | $ | 14,712 | ||
Fixed charges: | ||||
Interest expense | 14,724 | |||
One-third of rents, net of income from subleases(a) | 261 | |||
Total fixed charges | 14,985 | |||
Less: Equity in undistributed income of affiliates | (114 | ) | ||
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest | $ | 29,583 | ||
Fixed charges, as above | $ | 14,985 | ||
Preferred stock dividends (pre-tax) | 6 | |||
Fixed charges including preferred stock dividends | $ | 14,991 | ||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.97 | |||
Including Interest on Deposits | ||||
Fixed charges including preferred stock dividends, as above | $ | 14,991 | ||
Add: Interest on deposits | 12,140 | |||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 27,131 | ||
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above | $ | 29,583 | ||
Add: Interest on deposits | 12,140 | |||
Total income from continuing operations before income taxes, fixed charges and interest on deposits | $ | 41,723 | ||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.54 | |||
(a) | The proportion deemed representative of the interest factor. |