EX-12.1 3 corp10k2016exhibit121.htm EXHIBIT 12.1 Exhibit


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

 

 

 

 

(in millions, except ratios)
2016

2015

2014

2013

2012

Excluding interest on deposits
 
 
 
 
 
Income from continuing operations before income taxes
$
34,536

$
30,702

$
30,699

$
26,675

$
29,566

Fixed charges:
 
 
 
 
 
Interest expense
8,462

6,211

6,264

7,610

8,498

One-third of rents, net of income from subleases(a)
540

535

624

616

554

Total fixed charges
9,002

6,746

6,888

8,226

9,052

Add: Equity in undistributed loss of affiliates/Less: Equity in undistributed income of affiliates(b)
362

423

233

112

(99
)
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest
$
43,900

$
37,871

$
37,820

$
35,013

$
38,519

Fixed charges, as above
$
9,002

$
6,746

$
6,888

$
8,226

$
9,052

Ratio of earnings to fixed charges
4.88

5.61

5.49

4.26

4.26

Including interest on deposits
 
 
 
 
 
Fixed charges as above
$
9,002

$
6,746

$
6,888

$
8,226

$
9,052

Add: Interest on deposits
1,356

1,252

1,633

2,067

2,655

Total fixed charges and interest on deposits
$
10,358

$
7,998

$
8,521

$
10,293

$
11,707

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above
$
43,900

$
37,871

$
37,820

$
35,013

$
38,519

Add: Interest on deposits
1,356

1,252

1,633

2,067

2,655

Total income from continuing operations before income taxes, fixed charges and interest on deposits
$
45,256

$
39,123

$
39,453

$
37,080

$
41,174

Ratio of earnings to fixed charges
4.37

4.89

4.63

3.60

3.52

(a)
The proportion deemed representative of the interest factor.
(b)
Prior period amounts have been revised to conform with the current period presentation.