EXHIBIT 12.1
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
Year ended December 31, (in millions, except ratios) | 2009 | |||
Excluding interest on deposits | ||||
Income before income tax expense and extraordinary gain | $ | 16,067 | ||
Fixed charges: | ||||
Interest expense | 10,372 | |||
One-third of rents, net of income from subleases(a) | 569 | |||
Total fixed charges | 10,941 | |||
Less: Equity in undistributed income of affiliates | (21 | ) | ||
Income before income tax expense, extraordinary gain, and fixed charges, excluding capitalized interest | $ | 26,987 | ||
Fixed charges, as above | $ | 10,941 | ||
Ratio of earnings to fixed charges | 2.47 | |||
Including interest on deposits | ||||
Fixed charges, as above | $ | 10,941 | ||
Add: Interest on deposits | 4,826 | |||
Total fixed charges and interest on deposits | $ | 15,767 | ||
Income before income tax expense, extraordinary gain, and fixed charges, excluding capitalized interest, as above | $ | 26,987 | ||
Add: Interest on deposits | 4,826 | |||
Total Income before income tax expense, extraordinary gain, fixed charges and interest on deposits | $ | 31,813 | ||
Ratio of earnings to fixed charges | 2.02 | |||
(a) | The proportion deemed representative of the interest factor. |