EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
Year Ended December 31 | ||||||||||||||||||||
Dollars in millions | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
Earnings | ||||||||||||||||||||
Pretax income from continuing operations before adjustments for minority interest (1) | $ | 3,930 | $ | 1,942 | $ | 1,735 | $ | 1,568 | $ | 1,821 | ||||||||||
Less: | ||||||||||||||||||||
Income or loss from equity method investees | 50 | |||||||||||||||||||
Add: | ||||||||||||||||||||
Distributed income of equity method investees | 20 | |||||||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 842 | 663 | 358 | 347 | 433 | |||||||||||||||
Subtotal | 4,742 | 2,605 | 2,093 | 1,915 | 2,254 | |||||||||||||||
Interest on deposits | 1,590 | 981 | 484 | 457 | 659 | |||||||||||||||
Total | $ | 6,332 | $ | 3,586 | $ | 2,577 | $ | 2,372 | $ | 2,913 | ||||||||||
Fixed charges | ||||||||||||||||||||
Interest on borrowed funds | $ | 777 | $ | 599 | $ | 298 | $ | 258 | $ | 315 | ||||||||||
Interest component of rentals | 64 | 63 | 58 | 59 | 58 | |||||||||||||||
Amortization of notes and debentures | 1 | 1 | 1 | |||||||||||||||||
Distributions on mandatorily redeemable capital securities of subsidiary trusts | 28 | 58 | ||||||||||||||||||
Preferred stock dividend requirements | 1 | 1 | 1 | 1 | 1 | |||||||||||||||
Subtotal | 842 | 663 | 358 | 347 | 433 | |||||||||||||||
Interest on deposits | 1,590 | 981 | 484 | 457 | 659 | |||||||||||||||
Total | $ | 2,432 | $ | 1,644 | $ | 842 | $ | 804 | $ | 1,092 | ||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | ||||||||||||||||||||
Excluding interest on deposits | 5.63 | x | 3.93 | x | 5.85 | x | 5.52 | x | 5.2 | 1x | ||||||||||
Including interest on deposits | 2.60 | 2.18 | 3.06 | 2.95 | 2.67 |
(1) | As defined in Item 503(d) of Regulation S-K. |