EX-12.1 2 y76121exv12w1.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
         
Three months ended March 31, (in millions, except ratios)   2009  
Excluding interest on deposits
        
Income before income tax expense and extraordinary gain
   $ 3,056  
 
      
Fixed charges:
        
Interest expense
     2,873  
One-third of rents, net of income from subleases (a)
     143  
 
      
Total fixed charges
     3,016  
 
      
Add: Equity in undistributed loss of affiliates
     34  
 
      
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest
   $ 6,106  
 
      
Fixed charges, as above
   $ 3,016  
 
      
Ratio of earnings to fixed charges
     2.02  
 
      
 
        
Including interest on deposits
        
Fixed charges, as above
   $ 3,016  
Add: Interest on deposits
     1,686  
 
      
Total fixed charges and interest on deposits
   $ 4,702  
 
      
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest, as above
   $ 6,106  
Add: Interest on deposits
     1,686  
 
      
Total income before income tax expense and extraordinary gain, fixed charges and interest on deposits
   $ 7,792  
 
      
Ratio of earnings to fixed charges
     1.66  
 
      
 
(a)   The proportion deemed representative of the interest factor.