EX-12 2 y41527ex12.txt STATEMENT RE: COMPUTATION OF RATIOS 1 EXHIBIT 12 Computation of Ratio of Earnings to Fixed Charges J.P. Morgan & Co. Incorporated Consolidated
------------------------------------------------------------------------------ Nine Months Dollars in millions 2000 ------------------------------------------------------------------------------ Earnings: Net income $ 1 684 Add: income taxes 829 Less: equity in undistributed income of all affiliates accounted for by the equity method 84 Add: fixed charges, excluding interest on deposits 6 859 ------------------------------------------------------------------------------ Earnings available for fixed charges, excluding interest on deposits 9 288 Add: interest on deposits 1 614 ------------------------------------------------------------------------------ Earnings available for fixed charges, including interest on deposits 10 902 ------------------------------------------------------------------------------ Fixed charges: Interest expense, excluding interest on deposits 6 833 Interest factor in net rental expense 26 ------------------------------------------------------------------------------ Total fixed charges, excluding interest on deposits 6 859 Add: interest on deposits 1 614 ------------------------------------------------------------------------------ Total fixed charges, including interest on deposits 8 473 ------------------------------------------------------------------------------ Ratio of earnings to fixed charges: Excluding interest on deposits 1.35 Including interest on deposits 1.29 ------------------------------------------------------------------------------
2 EXHIBIT 12 Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends J.P. Morgan & Co. Incorporated Consolidated
-------------------------------------------------------------------------------- Dollars in millions Nine Months 2000 -------------------------------------------------------------------------------- Earnings: Net income $ 1 684 Add: income taxes 829 Less: equity in undistributed income of all affiliates accounted for by the equity method 84 Add: fixed charges, excluding interest on deposits, and preferred stock dividends 6 903 -------------------------------------------------------------------------------- Earnings available for fixed charges, excluding interest on deposits 9 332 Add: interest on deposits 1 614 -------------------------------------------------------------------------------- Earnings available for fixed charges, including interest on deposits 10 946 -------------------------------------------------------------------------------- Fixed charges: Interest expense, excluding interest on deposits 6 833 Interest factor in net rental expense 26 Preferred stock dividends 44 -------------------------------------------------------------------------------- Total fixed charges, excluding interest on deposits 6 903 Add: interest on deposits 1 614 -------------------------------------------------------------------------------- Total fixed charges, including interest on deposits 8 517 -------------------------------------------------------------------------------- Ratio of earnings to fixed charges: Excluding interest on deposits 1.35 Including interest on deposits 1.29 --------------------------------------------------------------------------------