EX-12.2 3 y28968exv12w2.htm EX-12.2: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS EX-12.2
 

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)   2006  
Excluding Interest on Deposits
        
Income from continuing operations before income taxes
   $ 19,886  
 
      
 
        
Fixed charges:
        
Interest expense
     20,823  
One-third of rents, net of income from subleases (a)
     357  
 
      
Total fixed charges
     21,180  
 
      
 
        
Less: Equity in undistributed income of affiliates
     (152 )
 
      
 
        
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest
   $ 40,914  
 
      
 
        
Fixed charges, as above
   $ 21,180  
 
        
Preferred stock dividends (pre-tax)
     6  
 
      
 
        
Fixed charges including preferred stock dividends
   $ 21,186  
 
      
 
        
Ratio of earnings to fixed charges and preferred stock dividend requirements
     1.93  
 
      
Including Interest on Deposits
        
Fixed charges including preferred stock dividends, as above
   $ 21,186  
 
        
Add: Interest on deposits
     17,042  
 
      
 
        
Total fixed charges including preferred stock dividends and interest on deposits
   $ 38,228  
 
      
 
        
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above
   $ 40,914  
 
        
Add: Interest on deposits
     17,042  
 
      
 
        
Total income from continuing operations before income taxes, fixed charges and interest on deposits
   $ 57,956  
 
      
 
        
Ratio of earnings to fixed charges and preferred stock dividend requirements
     1.52  
 
      
 
(a)   The proportion deemed representative of the interest factor.