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) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||
Excluding interest on deposits | |||||||||||||||
Income from continuing operations before income taxes | $ | 35,900 | $ | 34,536 | $ | 30,702 | $ | 30,699 | $ | 26,675 | |||||
Fixed charges: | |||||||||||||||
Interest expense | 11,418 | 8,462 | 6,211 | 6,264 | 7,610 | ||||||||||
One-third of rents, net of income from subleases(a) | 534 | 540 | 535 | 624 | 616 | ||||||||||
Total fixed charges | 11,952 | 9,002 | 6,746 | 6,888 | 8,226 | ||||||||||
Add: Equity in undistributed loss of affiliates/Less: Equity in undistributed income of affiliates(b) | 1,352 | 362 | 423 | 233 | 112 | ||||||||||
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest | $ | 49,204 | $ | 43,900 | $ | 37,871 | $ | 37,820 | $ | 35,013 | |||||
Fixed charges, as above | $ | 11,952 | $ | 9,002 | $ | 6,746 | $ | 6,888 | $ | 8,226 | |||||
Preferred stock dividends (pretax) | 2,349 | 2,336 | 2,134 | 1,589 | 1,200 | ||||||||||
Fixed charges including preferred stock dividends | $ | 14,301 | $ | 11,338 | $ | 8,880 | $ | 8,477 | $ | 9,426 | |||||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.44 | 3.87 | 4.26 | 4.46 | 3.71 | ||||||||||
Including interest on deposits | |||||||||||||||
Fixed charges including preferred stock dividends, as above | $ | 14,301 | $ | 11,338 | $ | 8,880 | $ | 8,477 | $ | 9,426 | |||||
Add: Interest on deposits | 2,857 | 1,356 | 1,252 | 1,633 | 2,067 | ||||||||||
Total fixed charges including preferred stock dividends and interest on deposits | $ | 17,158 | $ | 12,694 | $ | 10,132 | $ | 10,110 | $ | 11,493 | |||||
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above | $ | 49,204 | $ | 43,900 | $ | 37,871 | $ | 37,820 | $ | 35,013 | |||||
Add: Interest on deposits | 2,857 | 1,356 | 1,252 | 1,633 | 2,067 | ||||||||||
Total income from continuing operations before income taxes, fixed charges and interest on deposits | $ | 52,061 | $ | 45,256 | $ | 39,123 | $ | 39,453 | $ | 37,080 | |||||
Ratio of earnings to fixed charges and preferred stock dividend requirements | 3.03 | 3.57 | 3.86 | 3.90 | 3.23 |
(a) | The proportion deemed representative of the interest factor. |
(b) | Prior period amounts have been revised to conform with the current period presentation. |