EXHIBIT 12.1
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
Nine months ended September 30, (in millions, except ratios) | 2012 | |||
Excluding interest on deposits | ||||
Income before income tax expense | $ | 21,967 | ||
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Fixed charges: | ||||
Interest expense | 6,556 | |||
One-third of rents, net of income from subleases (a) | 416 | |||
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Total fixed charges | 6,972 | |||
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Add: Equity in undistributed loss of affiliates | 111 | |||
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Income before income tax expense and fixed charges, | $ | 29,050 | ||
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Fixed charges, as above | $ | 6,972 | ||
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Ratio of earnings to fixed charges | 4.17 | |||
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Including interest on deposits | ||||
Fixed charges, as above | $ | 6,972 | ||
Add: Interest on deposits | 2,085 | |||
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Total fixed charges and interest on deposits | $ | 9,057 | ||
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Income before income tax expense and fixed charges, | $ | 29,050 | ||
Add: Interest on deposits | 2,085 | |||
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Total income before income tax expense, | $ | 31,135 | ||
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Ratio of earnings to fixed charges | 3.44 | |||
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(a) | The proportion deemed representative of the interest factor. |