The PNC Financial Services Group, Inc. and Subsidiaries | EXHIBIT 12.1 | |
Computation of Ratio of Earnings | ||
to Fixed Charges |
Nine Months Ended September 30, 2006 | Year Ended December 31 | |||||||||||||||||
Dollars in millions | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||
Earnings | ||||||||||||||||||
Pretax income from continuing operations before adjustments for minority interest (1) | $3,434 | $1,942 | $1,735 | $1,568 | $1,821 | $564 | ||||||||||||
Fixed charges excluding interest on deposits | 627 | 662 | 357 | 346 | 432 | 762 | ||||||||||||
Subtotal | 4,061 | 2,604 | 2,092 | 1,914 | 2,253 | 1,326 | ||||||||||||
Interest on deposits | 1,140 | 981 | 484 | 457 | 659 | 1,229 | ||||||||||||
Total | $5,201 | $3,585 | $2,576 | $2,371 | $2,912 | $2,555 | ||||||||||||
Fixed charges | ||||||||||||||||||
Interest on borrowed funds | $576 | $599 | $298 | $258 | $315 | $645 | ||||||||||||
Interest component of rentals | 51 | 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 | |||||||||||||||
Subtotal | 627 | 662 | 357 | 346 | 432 | 762 | ||||||||||||
Interest on deposits | 1,140 | 981 | 484 | 457 | 659 | 1,229 | ||||||||||||
Total | $1,767 | $1,643 | $841 | $803 | $1,091 | $1,991 | ||||||||||||
Ratio of earnings to fixed charges | ||||||||||||||||||
Excluding interest on deposits | 6.48 | x | 3.93 | x | 5.86 | x | 5.53 | x | 5.22 | x | 1.74 | x | ||||||
Including interest on deposits | 2.94 | 2.18 | 3.06 | 2.95 | 2.67 | 1.28 |
(1) | As defined in Item 503(d) of Regulation S-K. |