EX-12.2 5 corp10k2015exhibit122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIV REQ Exhibit


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)
2015

2014

2013

2012

2011

Excluding interest on deposits
 
 
 
 
 
Income from continuing operations before income taxes
$
30,702

$
30,699

$
26,675

$
29,566

$
27,358

Fixed charges:
 
 
 
 
 
Interest expense
6,211

6,264

7,610

8,498

9,749

One-third of rents, net of income from subleases(a)
535

624

616

554

562

Total fixed charges
6,746

6,888

8,226

9,052

10,311

Add: Equity in undistributed loss of affiliates/Less: Equity in undistributed income of affiliates
406

1,026

770

172

59

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest
$
37,854

$
38,613

$
35,671

$
38,790

$
37,728

Fixed charges, as above
$
6,746

$
6,888

$
8,226

$
9,052

$
10,311

Preferred stock dividends (pretax)
2,134

1,589

1,200

908

908

Fixed charges including preferred stock dividends
$
8,880

$
8,477

$
9,426

$
9,960

$
11,219

Ratio of earnings to fixed charges and preferred stock dividend requirements
4.26

4.56

3.78

3.89

3.36

Including interest on deposits
 
 
 
 
 
Fixed charges including preferred stock dividends, as above
$
8,880

$
8,477

$
9,426

$
9,960

$
11,219

Add: Interest on deposits
1,252

1,633

2,067

2,655

3,855

Total fixed charges including preferred stock dividends and interest on deposits
$
10,132

$
10,110

$
11,493

$
12,615

$
15,074

Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above
$
37,854

$
38,613

$
35,671

$
38,790

$
37,728

Add: Interest on deposits
1,252

1,633

2,067

2,655

3,855

Total income from continuing operations before income taxes, fixed charges and interest on deposits
$
39,106

$
40,246

$
37,738

$
41,445

$
41,583

Ratio of earnings to fixed charges and preferred stock dividend requirements
3.86

3.98

3.28

3.29

2.76

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