EXHIBIT 12.2
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
Year ended December 31, (in millions, except ratios) | 2011 | |||
Excluding interest on deposits | ||||
Income before income tax expense | $ | 26,749 | ||
|
| |||
Fixed charges: | ||||
Interest expense | 9,749 | |||
One-third of rents, net of income from subleases(a) | 562 | |||
|
| |||
Total fixed charges | 10,311 | |||
|
| |||
Add: Equity in undistributed loss of affiliates | 59 | |||
|
| |||
Income before income tax expense and fixed charges, excluding capitalized interest | $ | 37,119 | ||
|
| |||
Fixed charges, as above | $ | 10,311 | ||
Preferred stock dividends (pre-tax) | 899 | |||
|
| |||
Fixed charges including preferred stock dividends | $ | 11,210 | ||
|
| |||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.31 | |||
|
| |||
Including interest on deposits | ||||
Fixed charges including preferred stock dividends, as above | $ | 11,210 | ||
Add: Interest on deposits | 3,855 | |||
|
| |||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 15,065 | ||
|
| |||
Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 37,119 | ||
Add: Interest on deposits | 3,855 | |||
|
| |||
Total income before income tax expense, fixed charges and interest on deposits | $ | 40,974 | ||
|
| |||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 2.72 | |||
|
|
(a) | The proportion deemed representative of the interest factor. |