EXHIBIT 12.2
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
Six months ended June 30, (in millions, except ratios) | 2012 | |||
Excluding interest on deposits | ||||
Income before income tax expense | $ | 13,981 | ||
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Fixed charges: | ||||
Interest expense | 4,529 | |||
One-third of rents, net of income from subleases(a) | 279 | |||
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Total fixed charges | 4,808 | |||
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Add: Equity in undistributed loss of affiliates | 44 | |||
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Income before income tax expense and fixed charges, excluding capitalized interest | $ | 18,833 | ||
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Fixed charges, as above | $ | 4,808 | ||
Preferred stock dividends (pre-tax) | 453 | |||
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Fixed charges including preferred stock dividends | $ | 5,261 | ||
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Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.58 | |||
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Including interest on deposits | ||||
Fixed charges including preferred stock dividends, as above | $ | 5,261 | ||
Add: Interest on deposits | 1,459 | |||
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Total fixed charges including preferred stock dividends and interest on deposits | $ | 6,720 | ||
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Income before income tax expense and fixed charges, excluding capitalized interest, as above | $ | 18,833 | ||
Add: Interest on deposits | 1,459 | |||
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Total income before income tax expense, fixed charges and interest on deposits | $ | 20,292 | ||
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Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.02 | |||
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(a) | The proportion deemed representative of the interest factor. |