EX-12.2 3 corp10k2013exhibit122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIV REQ CORP 10K 2013 Exhibit 12.2


Exhibit 12.2
JPMorgan Chase & Co.

Computation of Ratio of Earnings to Fixed Charges
And Preferred Stock Dividend Requirements

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

 
Preferred stock dividends (pretax)
1,092

906

899

947

3,435

(b) 
Fixed charges including preferred stock dividends
$
9,318

$
9,958

$
11,210

$
10,882

$
14,376

 
Ratio of earnings to fixed charges and preferred stock dividend requirements
3.75

3.83

3.31

3.21

1.88

 
Including interest on deposits
 
 
 
 
 
 
Fixed charges including preferred stock dividends, as above
$
9,318

$
9,958

$
11,210

$
10,882

$
14,376

 
Add: Interest on deposits
2,067

2,655

3,855

3,424

4,826

 
Total fixed charges including preferred stock dividends and interest on deposits
$
11,385

$
12,613

$
15,065

$
14,306

$
19,202

 
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 and preferred stock dividend requirements
3.25

3.23

2.72

2.68

1.66

 
(a)
The proportion deemed representative of the interest factor.
(b)
Includes a one-time $1.6 billion pretax payment of TARP preferred dividends.



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