EX-12.2 4 corp10k2017exhibit122.htm EXHIBIT 12.2 Exhibit


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)
2017

2016

2015

2014

2013

Excluding interest on deposits
 
 
 
 
 
Income from continuing operations before income taxes
$
35,900

$
34,536

$
30,702

$
30,699

$
26,675

Fixed charges:
 
 
 
 
 
Interest expense
11,418

8,462

6,211

6,264

7,610

One-third of rents, net of income from subleases(a)
534

540

535

624

616

Total fixed charges
11,952

9,002

6,746

6,888

8,226

Add: Equity in undistributed loss of affiliates/Less: Equity in undistributed income of affiliates(b)
1,352

362

423

233

112

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest
$
49,204

$
43,900

$
37,871

$
37,820

$
35,013

Fixed charges, as above
$
11,952

$
9,002

$
6,746

$
6,888

$
8,226

Preferred stock dividends (pretax)
2,349

2,336

2,134

1,589

1,200

Fixed charges including preferred stock dividends
$
14,301

$
11,338

$
8,880

$
8,477

$
9,426

Ratio of earnings to fixed charges and preferred stock dividend requirements
3.44

3.87

4.26

4.46

3.71

Including interest on deposits
 
 
 
 
 
Fixed charges including preferred stock dividends, as above
$
14,301

$
11,338

$
8,880

$
8,477

$
9,426

Add: Interest on deposits
2,857

1,356

1,252

1,633

2,067

Total fixed charges including preferred stock dividends and interest on deposits
$
17,158

$
12,694

$
10,132

$
10,110

$
11,493

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above
$
49,204

$
43,900

$
37,871

$
37,820

$
35,013

Add: Interest on deposits
2,857

1,356

1,252

1,633

2,067

Total income from continuing operations before income taxes, fixed charges and interest on deposits
$
52,061

$
45,256

$
39,123

$
39,453

$
37,080

Ratio of earnings to fixed charges and preferred stock dividend requirements
3.03

3.57

3.86

3.90

3.23

(a)
The proportion deemed representative of the interest factor.
(b)
Prior period amounts have been revised to conform with the current period presentation.