EX-12.1 2 y25968exv12w1.htm EX-12.1: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12.1:
 

EXHIBIT 12.1
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
         
Nine months ended September 30, (in millions, except ratios)   2006  
 
        
Excluding Interest on Deposits
        
Income from continuing operations before income taxes
   $ 14,712  
 
      
Fixed charges:
        
Interest expense
     14,724  
One-third of rents, net of income from subleases (a)
     261  
 
      
Total fixed charges
     14,985  
 
      
Less: Equity in undistributed income of affiliates
     (114 )
 
      
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest
   $ 29,583  
 
      
Fixed charges, as above
   $ 14,985  
 
      
Ratio of earnings to fixed charges
     1.97  
 
      
Including Interest on Deposits
        
Fixed charges, as above
   $ 14,985  
Add: Interest on deposits
     12,140  
 
      
Total fixed charges and interest on deposits
   $ 27,125  
 
      
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above
   $ 29,583  
Add: Interest on deposits
     12,140  
 
      
Total income from continuing operations before income taxes, fixed charges and interest on deposits
   $ 41,723  
 
      
Ratio of earnings to fixed charges
     1.54  
 
      
 
(a) The proportion deemed representative of the interest factor.