Attached files
EXHIBIT 12.1
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
| Three months ended March 31, (in millions, except ratios) |
2012 | |||
| Excluding interest on deposits |
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| Income before income tax expense |
$ | 7,641 | ||
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| Fixed charges: |
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| 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 | ||
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| Ratio of earnings to fixed charges |
4.11 | |||
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| Including interest on deposits |
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| Fixed charges, as above |
$ | 2,454 | ||
| Add: Interest on deposits |
722 | |||
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| Total fixed charges and interest on deposits |
$ | 3,176 | ||
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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 |
3.41 | |||
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| (a) | The proportion deemed representative of the interest factor. |