EX-12.1 2 corp10k2014exhibit121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CORP 10K 2014 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)
2014

2013

2012

2011

2010

Excluding interest on deposits
 
 
 
 
 
Income from continuing operations before income taxes
$
29,792

$
25,914

$
28,917

$
26,749

$
24,859

Fixed charges:
 
 
 
 
 
Interest expense
6,264

7,610

8,498

9,749

9,357

One-third of rents, net of income from subleases(a)
624

616

554

562

578

Total fixed charges
6,888

8,226

9,052

10,311

9,935

Add: Equity in undistributed loss of affiliates/Less: Equity in undistributed income of affiliates
1,026

770

172

59

127

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest
$
37,706

$
34,910

$
38,141

$
37,119

$
34,921

Fixed charges, as above
$
6,888

$
8,226

$
9,052

$
10,311

$
9,935

Ratio of earnings to fixed charges
5.47

4.24

4.21

3.60

3.51

Including interest on deposits
 
 
 
 
 
Fixed charges as above
$
6,888

$
8,226

$
9,052

$
10,311

$
9,935

Add: Interest on deposits
1,633

2,067

2,655

3,855

3,424

Total fixed charges and interest on deposits
$
8,521

$
10,293

$
11,707

$
14,166

$
13,359

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above
$
37,706

$
34,910

$
38,141

$
37,119

$
34,921

Add: Interest on deposits
1,633

2,067

2,655

3,855

3,424

Total income from continuing operations before income taxes, fixed charges and interest on deposits
$
39,339

$
36,977

$
40,796

$
40,974

$
38,345

Ratio of earnings to fixed charges
4.62

3.59

3.48

2.89

2.87

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


 
 
331