EXHIBIT 12.1
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
Nine months ended September 30, (in millions, except ratios) | 2010 | |||
Excluding interest on deposits | ||||
Income before income tax expense | $ | 17,847 | ||
Fixed charges: | ||||
Interest expense | 6,698 | |||
One-third of rents, net of income from subleases(a) | 437 | |||
Total fixed charges | 7,135 | |||
Add: Equity in undistributed loss of affiliates | 98 | |||
Income before income tax expense and fixed charges, excluding capitalized interest | $ | 25,080 | ||
Fixed charges, as above | $ | 7,135 | ||
Ratio of earnings to fixed charges | 3.52 | |||
Including interest on deposits | ||||
Fixed charges, as above | $ | 7,135 | ||
Add: Interest on deposits | 2,573 | |||
Total fixed charges and interest on deposits | $ | 9,708 | ||
Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 25,080 | ||
Add: Interest on deposits | 2,573 | |||
Total income before income tax expense, fixed charges and interest on deposits | $ | 27,653 | ||
Ratio of earnings to fixed charges | 2.85 | |||
(a) | The proportion deemed representative of the interest factor. |