EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges
Nine Months Ended | Year Ended December 31 | |||||||||||||||||
Dollars in millions | September 30, 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||
Earnings | ||||||||||||||||||
Pretax income from continuing operations before adjustments for minority interest (1) | $ | 1,406 | $ | 1,735 | $ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | ||||||
Fixed charges excluding interest on deposits | 472 | 357 | 346 | 432 | 762 | 1,032 | ||||||||||||
Subtotal | 1,878 | 2,092 | 1,914 | 2,253 | 1,326 | 2,880 | ||||||||||||
Interest on deposits | 676 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||
Total | $ | 2,554 | $ | 2,576 | $ | 2,371 | $ | 2,912 | $ | 2,555 | $ | 4,533 | ||||||
Fixed charges | ||||||||||||||||||
Interest on borrowed funds | $ | 425 | $ | 298 | $ | 258 | $ | 315 | $ | 645 | $ | 914 | ||||||
Interest component of rentals | 47 | 58 | 59 | 58 | 53 | 50 | ||||||||||||
Amortization of notes and debentures | 1 | 1 | 1 | 1 | 1 | |||||||||||||
Distributions on mandatorily redeemable capital securities of subsidiary trusts | 28 | 58 | 63 | 67 | ||||||||||||||
Subtotal | 472 | 357 | 346 | 432 | 762 | 1,032 | ||||||||||||
Interest on deposits | 676 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||
Total | $ | 1,148 | $ | 841 | $ | 803 | $ | 1,091 | $ | 1,991 | $ | 2,685 | ||||||
Ratio of earnings to fixed charges | ||||||||||||||||||
Excluding interest on deposits | 3.98x | 5.86x | 5.53x | 5.22x | 1.74x | 2.79x | ||||||||||||
Including interest on deposits | 2.22 | 3.06 | 2.95 | 2.67 | 1.28 | 1.69 |
(1) | As defined in Item 503(d) of Regulation S-K. |