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) | 2008 | |||
Excluding Interest on Deposits | ||||
Income before income tax expense and extraordinary gain | $ | 4,115 | ||
Fixed charges: | ||||
Interest expense | 14,889 | |||
One-third of rents, net of income from subleases(a) | 349 | |||
Total fixed charges | 15,238 | |||
Add: Equity in undistributed loss of affiliates | 497 | |||
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest | $ | 19,850 | ||
Fixed charges, as above | $ | 15,238 | ||
Preferred stock dividends (pre-tax) | 344 | |||
Fixed charges including preferred stock dividends | $ | 15,582 | ||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.27 | |||
Including Interest on Deposits | ||||
Fixed charges including preferred stock dividends, as above | $ | 15,582 | ||
Add: Interest on deposits | 11,551 | |||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 27,133 | ||
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest, as above | $ | 19,850 | ||
Add: Interest on deposits | 11,551 | |||
Total income before income tax expense and extraordinary gain, fixed charges and interest on deposits | $ | 31,401 | ||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 1.16 | |||
(a) | The proportion deemed representative of the interest factor. |