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) | 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 | ||
Preferred stock dividends (pre-tax) | 719 | |||
Fixed charges including preferred stock dividends | $ | 7,854 | ||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.19 | |||
Including interest on deposits | ||||
Fixed charges including preferred stock dividends, as above | $ | 7,854 | ||
Add: Interest on deposits | 2,573 | |||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 10,427 | ||
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 and preferred stock dividend requirements | 2.65 | |||
(a) | The proportion deemed representative of the interest factor. |