EX-12.1 2 y71827exv12w1.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)   2008  
Excluding Interest on Deposits
        
Income before income tax expense and extraordinary gain
   $ 4,115  
 
      
Fixed charges:
        
Interest expense
     14,889  
One-third of rents, net of income from subleases (a)
     349  
 
      
Total fixed charges
     15,238  
 
      
Add: Equity in undistributed loss of affiliates
     497  
 
      
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest
   $ 19,850  
 
      
Fixed charges, as above
   $ 15,238  
 
      
Ratio of earnings to fixed charges
     1.30  
 
      
 
        
Including Interest on Deposits
        
Fixed charges, as above
   $ 15,238  
Add: Interest on deposits
     11,551  
 
      
Total fixed charges and interest on deposits
   $ 26,789  
 
      
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest, as above
   $ 19,850  
Add: Interest on deposits
     11,551  
 
      
Total income before income tax expense and extraordinary gain, fixed charges and interest on deposits
   $ 31,401  
 
      
Ratio of earnings to fixed charges
     1.17  
 
      
 
(a)   The proportion deemed representative of the interest factor.