EX-12.1 2 jpm-20120331ex121amended.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CORP Q1 2012 EX 12.1 AMENDED


Exhibit 12.1
JPMorgan Chase & Co.
Computation of Ratio of Earnings to Fixed Charges
Three months ended March 31, (in millions, except ratios)
2012
 (Restated)
Excluding interest on deposits
 
Income before income tax expense
$
6,981

Fixed charges:
 
Interest expense
2,313

One-third of rents, net of income from subleases(a)
141

Total fixed charges
2,454

Less: Equity in undistributed income of affiliates
(1
)
Income before income tax expense and fixed charges, excluding capitalized interest
$
9,434

Fixed charges, as above
$
2,454

Ratio of earnings to fixed charges
3.84

Including interest on deposits
 
Fixed charges as above
$
2,454

Add: Interest on deposits
722

Total fixed charges and interest on deposits
$
3,176

Income before income tax expense and fixed charges, excluding capitalized interest, as above
$
9,434

Add: Interest on deposits
722

Total income before income tax expense, fixed charges and interest on deposits
$
10,156

Ratio of earnings to fixed charges
3.20

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


178 A