EXHIBIT 12.2
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
Three months ended March 31, (in millions, except ratios) | 2012 | |||
Excluding interest on deposits | ||||
Income before income tax expense | $ | 7,641 | ||
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Fixed charges: | ||||
Interest expense | 2,313 | |||
One-third of rents, net of income from subleases(a) | 141 | |||
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Total fixed charges | 2,454 | |||
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Less: Equity in undistributed income of affiliates | (1) | |||
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Income before income tax expense and fixed charges, excluding capitalized interest | $ | 10,094 | ||
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Fixed charges, as above | $ | 2,454 | ||
Preferred stock dividends (pre-tax) | 228 | |||
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Fixed charges including preferred stock dividends | $ | 2,682 | ||
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Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.76 | |||
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Including interest on deposits | ||||
Fixed charges including preferred stock dividends, as above | $ | 2,682 | ||
Add: Interest on deposits | 722 | |||
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Total fixed charges including preferred stock dividends and interest on deposits | $ | 3,404 | ||
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Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 10,094 | ||
Add: Interest on deposits | 722 | |||
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Total income before income tax expense, fixed charges and interest on deposits | $ | 10,816 | ||
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Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.18 | |||
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(a) | The proportion deemed representative of the interest factor. |