The PNC Financial Services Group, Inc. and Subsidiaries | EXHIBIT 12.2 |
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
Dollars in millions | Six Months Ended June 30, 2006 | Year Ended December 31 | ||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||
Earnings | ||||||||||||||||||
Pretax income from continuing operations before adjustments for minority interest (1) | $1,126 | $1,942 | $1,735 | $1,568 | $1,821 | $564 | ||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 408 | 663 | 358 | 347 | 433 | 782 | ||||||||||||
Subtotal | 1,534 | 2,605 | 2,093 | 1,915 | 2,254 | 1,346 | ||||||||||||
Interest on deposits | 706 | 981 | 484 | 457 | 659 | 1,229 | ||||||||||||
Total | $2,240 | $3,586 | $2,577 | $2,372 | $2,913 | $2,575 | ||||||||||||
Fixed charges | ||||||||||||||||||
Interest on borrowed funds | $374 | $599 | $298 | $258 | $315 | $645 | ||||||||||||
Interest component of rentals | 34 | 63 | 58 | 59 | 58 | 53 | ||||||||||||
Amortization of notes and debentures | 1 | 1 | 1 | 1 | ||||||||||||||
Distributions on mandatorily redeemable capital securities of subsidiary trusts | 28 | 58 | 63 | |||||||||||||||
Preferred stock dividend requirements | 1 | 1 | 1 | 1 | 20 | |||||||||||||
Subtotal | 408 | 663 | 358 | 347 | 433 | 782 | ||||||||||||
Interest on deposits | 706 | 981 | 484 | 457 | 659 | 1,229 | ||||||||||||
Total | $1,114 | $1,644 | $842 | $804 | $1,092 | $2,011 | ||||||||||||
Ratio of earnings to fixed charges | ||||||||||||||||||
Excluding interest on deposits | 3.76 | x | 3.93 | x | 5.85 | x | 5.52 | x | 5.21 | x | 1.72 | x | ||||||
Including interest on deposits | 2.01 | 2.18 | 3.06 | 2.95 | 2.67 | 1.28 |
(1) | As defined in Item 503(d) of Regulation S-K. |