JPMorgan Chase & Co. (JPM) 10-K2010 FY Annual report

Filed: 28 Feb 11, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	8th grade Bad

New words: adjournment, affiant, affidavit, Allstate, anonymously, anytime, APR, argument, Atlanta, attendant, Automated, Bernard, boost, bor, bottom, braunstein, Brazil, briefly, buffer, businessesthrough, CAGR, Cambridge, Carolina, cautiously, CFPB, Chinese, chronological, clarity, codify, collaboration, colluded, commensurate, comment, complicated, contra, CRE, deceleration, defunct, demise, devote, digital, dissatisfaction, drag, Embankment, EMEA, employment, encouraged, enrolled, equitable, EU, eviction, Fairfield, faltering, feed, FFELP, FHA, flattened, flattening, floor, France, FSOC, fundamental, furniture, gap, Ginnie, Greece, GSE, HAMP, harbor, hardware, hastened, HERA, herewith, holistic, hundred, idiosyncratic, impression, India, induced, Ineligibility, inextricably, insight, inspection, insti, instructed, interactive, interior, justment, Language, LCR, left, LOB, localexpertise, Madoff, Magistrate, materiallyaffect, meaningfully, mem, memoranda, missing, mistake, mistakenly, modestly, NA, noncriticized, notarized, notary, NSFR, OEP, offshore, opined, overlimit, overlooked, passive, paused, payroll, PCI, pected, people, Polaroid, Ponzi, Portfoliosreported, Portugal, preemption, preferential, procedural, progressed, progressively, provincial, prudential, push, rapid, RBS, rebalance, redefault, redefaulted, redeployment, reinstate, reinstated, REIT, rela, reportedly, representation, rescinded, rescinding, resort, respec, restitution, restrain, resume, resumed, resuming, resumption, retaliation, RHA, robust, rolled, rolling, SA, sacrifice, sample, Schwab, SCRA, Sempra, Sentry, sharecount, shelf, slowly, South, Spain, sponsorship, spur, stance, stood, subdivided, Suisse, surcharge, suspected, TDR, theory, therewith, thing, tinue, tive, tively, tort, transferee, trough, tumbled, unconsolidated, underperforming, unenforceable, unfairly, unfounded, Uniform, uniformly, Union, unsettled, untary, unwarranted, unwilling, VA, version, Victoria, Virginia, virtue, Vol, Volcker, warranty, week, West, witnessed, WMMT, worse, wrongdoing

Removed: adherence, aftermarket, AICPA, approximating, arranger, attracting, authorize, automotive, BBB, benchmarked, black, burdensome, Canadian, cancelable, cap, captionedNewby, Chemical, circulation, collapse, combine, combining, conspiracy, costly, Daley, database, dealer, delay, denominator, denying, dependence, derecognition, diminished, disaffirmation, discontinuation, discontinue, disperse, efficiently, EITF, ELN, emergency, extremely, facet, FDICIA, functioning, GNMA, historic, implicit, informed, initiate, installment, Institute, led, main, manipulation, markdown, mechanism, Micropal, Midwest, mislead, modifying, Monte, nonexistent, occasion, positioning, predictable, predominant, prejudice, preponderance, profitable, prospective, recessionary, renegotiated, repudiation, RIFLE, separated, Steven, strive, study, submission, subrogee, ThePrivate, turnover, unethical, warranted, weakening, widen, Wilmington, wrong

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

JPM similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

Exhibit 12.1
JPMorgan Chase & Co.

Computation of Ratio of Earnings to Fixed Charges


Year ended December 31,
(in millions, except ratios)	2010		2009			2008^(b)		2007			2006


Excluding interest on deposits

Income from continuing operations before income taxes	$	24,859	$	16,067		$	2,773	$	22,805		$	19,886

Fixed charges:
Interest expense		9,357		10,372			19,693		23,328			20,823
One-third of rents, net of income from subleases(a)		578		569			507		400			357

Total fixed charges		9,935		10,941			20,200		23,728			21,180

Less: Equity in undistributed income of affiliates/Add: Equity in undistributed loss of affiliates		127		(21	)		623		(159	)		(152	)

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest	$	34,921	$	26,987		$	23,596	$	46,374		$	40,914

Fixed charges, as above	$	9,935	$	10,941		$	20,200	$	23,728		$	21,180

Ratio of earnings to fixed charges		3.51		2.47			1.17		1.95			1.93


Including interest on deposits

Fixed charges as above	$	9,935	$	10,941		$	20,200	$	23,728		$	21,180
Add: Interest on deposits		3,424		4,826			14,546		21,653			17,042

Total fixed charges and interest on deposits	$	13,359	$	15,767		$	34,746	$	45,381		$	38,222

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above	$	34,921	$	26,987		$	23,596	$	46,374		$	40,914
Add: Interest on deposits		3,424		4,826			14,546		21,653			17,042

Total income from continuing operations before income taxes, fixed charges and interest on deposits	$	38,345	$	31,813		$	38,142	$	68,027		$	57,956

Ratio of earnings to fixed charges		2.87		2.02			1.10		1.50			1.52



(a)		The proportion deemed representative of the interest factor.

(b)		On September 25, 2008, JPMorgan Chase acquired the banking operations of Washington Mutual Bank. On May 30, 2008, JPMorgan Chase merged with The Bear Stearns Companies Inc. Each of these transactions was accounted for as a purchase, and their respective results of operations are included in the Firm’s results from each respective transaction date.

320