EX-12.1 2 a1q18erfexhibit121.htm RATIO OF EARNINGS TO FIXED CHARGES - 1Q18 Exhibit


EXHIBIT 12.1
JPMorgan Chase & Co.
Computation of Ratio of Earnings to Fixed Charges
 
Three months ended March 31, (in millions, except ratios)
2018

Excluding interest on deposits
 
Income before income tax expense
$
10,662

Fixed charges:
 
Interest expense
3,323

One-third of rents, net of income from subleases (a)
134

Total fixed charges
3,457

Add: Equity in undistributed income of affiliates
(115
)
Income before income tax expense and fixed charges, excluding capitalized interest
$
14,004

Fixed charges, as above
$
3,457

Ratio of earnings to fixed charges
4.05

Including interest on deposits
 
Fixed charges, as above
$
3,457

Add: Interest on deposits
1,060

Total fixed charges and interest on deposits
$
4,517

Income before income tax expense and fixed charges, excluding capitalized interest, as above
$
14,004

Add: Interest on deposits
1,060

Total income before income tax expense, fixed charges and interest on deposits
$
15,064

Ratio of earnings to fixed charges
3.33



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