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) | 2008 | ||||
Excluding Interest on Deposits | |||||
Income before income taxes | $ | 6,302 | |||
Fixed charges: | |||||
Interest expense | 9,908 | ||||
One-third of rents, net of income from subleases(a) | 220 | ||||
Total fixed charges | 10,128 | ||||
Add: Equity in undistributed loss of affiliates | 454 | ||||
Income before income taxes and fixed charges, excluding capitalized interest | $ | 16,884 | |||
Fixed charges, as above | $ | 10,128 | |||
Preferred stock dividends (pre-tax) | 130 | ||||
Fixed charges including preferred stock dividends | $ | 10,258 | |||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.65 | ||||
Including Interest on Deposits | |||||
Fixed charges including preferred stock dividends, as above | $ | 10,258 | |||
Add: Interest on deposits | 8,200 | ||||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 18,458 | |||
Income before income taxes and fixed charges, excluding capitalized interest, as above | $ | 16,884 | |||
Add: Interest on deposits | 8,200 | ||||
Total income before income taxes, fixed charges and interest on deposits | $ | 25,084 | |||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.36 | ||||
(a) The proportion deemed representative of the interest factor.