EX-12.1 2 a3q18erfexhibit121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - 3Q18 Exhibit


EXHIBIT 12.1
JPMorgan Chase & Co.
Computation of Ratio of Earnings to Fixed Charges
 
Nine months ended September 30, (in millions, except ratios)
2018

Excluding interest on deposits
 
Income before income tax expense
$
31,923

Fixed charges:
 
Interest expense
11,678

One-third of rents, net of income from subleases (a)
406

Total fixed charges
12,084

Add: Equity in undistributed income of affiliates
456

Income before income tax expense and fixed charges, excluding capitalized interest
$
44,463

Fixed charges, as above
$
12,084

Ratio of earnings to fixed charges
3.68

Including interest on deposits
 
Fixed charges, as above
$
12,084

Add: Interest on deposits
4,021

Total fixed charges and interest on deposits
$
16,105

Income before income tax expense and fixed charges, excluding capitalized interest, as above
$
44,463

Add: Interest on deposits
4,021

Total income before income tax expense, fixed charges and interest on deposits
$
48,484

Ratio of earnings to fixed charges
3.01



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