EXHIBIT 12.1
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
Three months ended March 31, (in millions, except ratios) | 2010 | |||
Excluding interest on deposits | ||||
Income before income tax expense | $ | 4,537 | ||
Fixed charges: | ||||
Interest expense | 2,291 | |||
One-third of rents, net of income from subleases(a) | 146 | |||
Total fixed charges | 2,437 | |||
Add: Equity in undistributed loss of affiliates | 29 | |||
Income before income tax expense and fixed charges, excluding capitalized interest | $ | 7,003 | ||
Fixed charges, as above | $ | 2,437 | ||
Ratio of earnings to fixed charges | 2.87 | |||
Including interest on deposits | ||||
Fixed charges, as above | $ | 2,437 | ||
Add: Interest on deposits | 844 | |||
Total fixed charges and interest on deposits | $ | 3,281 | ||
Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 7,003 | ||
Add: Interest on deposits | 844 | |||
Total income before income tax expense, fixed charges and interest on deposits | $ | 7,847 | ||
Ratio of earnings to fixed charges | 2.39 | |||
(a) | The proportion deemed representative of the interest factor. |