EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
Six Months Ended June 30, 2005 | Year Ended | |||||||||||||||||||||||
Dollars in millions | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations before adjustments for minority interest (1) | $ | 916 | $ | 1,735 | $ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | ||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 291 | 358 | 347 | 433 | 782 | 1,062 | ||||||||||||||||||
Subtotal | 1,207 | 2,093 | 1,915 | 2,254 | 1,346 | 2,910 | ||||||||||||||||||
Interest on deposits | 406 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||||||||
Total | $ | 1,613 | $ | 2,577 | $ | 2,372 | $ | 2,913 | $ | 2,575 | $ | 4,563 | ||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest on borrowed funds | $ | 259 | $ | 298 | $ | 258 | $ | 315 | $ | 645 | $ | 914 | ||||||||||||
Interest component of rentals | 31 | 58 | 59 | 58 | 53 | 50 | ||||||||||||||||||
Amortization of notes and debentures | 0 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
Distributions on mandatorily redeemable capital securities of subsidiary trusts | 0 | 0 | 28 | 58 | 63 | 67 | ||||||||||||||||||
Preferred stock dividend requirements | 1 | 1 | 1 | 1 | 20 | 30 | ||||||||||||||||||
Subtotal | 291 | 358 | 347 | 433 | 782 | 1,062 | ||||||||||||||||||
Interest on deposits | 406 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||||||||
Total | $ | 697 | $ | 842 | $ | 804 | $ | 1,092 | $ | 2,011 | $ | 2,715 | ||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | ||||||||||||||||||||||||
Excluding interest on deposits | 4.15 | x | 5.85 | x | 5.52 | x | 5.21 | x | 1.72 | x | 2.74 | x | ||||||||||||
Including interest on deposits | 2.31 | 3.06 | 2.95 | 2.67 | 1.28 | 1.68 |
(1) | As defined in Item 503(d) of Regulation S-K. |