EX-12.1 2 corp10k2013exhibit121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CORP 10K 2013 Exhibit 12.1


Exhibit 12.1
JPMorgan Chase & Co.
Computation of Ratio of Earnings to Fixed Charges
Year ended December 31,
 

 

 

 

 

(in millions, except ratios)
2013

2012

2011

2010

2009

Excluding interest on deposits
 
 
 
 
 
Income from continuing operations before income taxes
$
25,914

$
28,917

$
26,749

$
24,859

$
16,067

Fixed charges:
 
 
 
 
 
Interest expense
7,610

8,498

9,749

9,357

10,372

One-third of rents, net of income from subleases(a)
616

554

562

578

569

Total fixed charges
8,226

9,052

10,311

9,935

10,941

Add: Equity in undistributed loss of affiliates/Less: Equity in undistributed income of affiliates
770

172

59

127

(21
)
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest
$
34,910

$
38,141

$
37,119

$
34,921

$
26,987

Fixed charges, as above
$
8,226

$
9,052

$
10,311

$
9,935

$
10,941

Ratio of earnings to fixed charges
4.24

4.21

3.60

3.51

2.47

Including interest on deposits
 
 
 
 
 
Fixed charges as above
$
8,226

$
9,052

$
10,311

$
9,935

$
10,941

Add: Interest on deposits
2,067

2,655

3,855

3,424

4,826

Total fixed charges and interest on deposits
$
10,293

$
11,707

$
14,166

$
13,359

$
15,767

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above
$
34,910

$
38,141

$
37,119

$
34,921

$
26,987

Add: Interest on deposits
2,067

2,655

3,855

3,424

4,826

Total income from continuing operations before income taxes, fixed charges and interest on deposits
$
36,977

$
40,796

$
40,974

$
38,345

$
31,813

Ratio of earnings to fixed charges
3.59

3.48

2.89

2.87

2.02

(a)
The proportion deemed representative of the interest factor.


 
 
363