EX-12.1 2 y78252exv12w1.htm EX-12.1 EX-12.1
EXHIBIT 12.1
JPMORGAN CHASE & CO.
Computation of Ratio of Earnings to Fixed Charges
         
Six months ended June 30, (in millions, except ratios)   2009  
Excluding interest on deposits
        
Income before income tax expense
   $ 7,128  
 
      
Fixed charges:
        
Interest expense
     5,587  
One-third of rents, net of income from subleases (a)
     286  
 
      
Total fixed charges
     5,873  
 
      
Less: Equity in undistributed income of affiliates
     (2 )
 
      
Income before income tax expense and fixed charges, excluding capitalized interest
   $ 12,999  
 
      
Fixed charges, as above
   $ 5,873  
 
      
Ratio of earnings to fixed charges
     2.21  
 
      
 
        
Including interest on deposits
        
Fixed charges, as above
   $ 5,873  
Add: Interest on deposits
     2,851  
 
      
Total fixed charges and interest on deposits
   $ 8,724  
 
      
Income before income tax expense and fixed charges, excluding capitalized interest, as above
   $ 12,999  
Add: Interest on deposits
     2,851  
 
      
Total income before income tax expense, fixed charges and interest on deposits
   $ 15,850  
 
      
Ratio of earnings to fixed charges
     1.82  
 
      
 
(a)   The proportion deemed representative of the interest factor.