EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
Dollars in millions | Nine Months Ended September 30, 2007 | Year Ended December 31 | ||||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 1,668 | $ | 3,913 | $ | 1,962 | $ | 1,745 | $ | 1,600 | $ | 1,858 | ||||||||||||
Add: | ||||||||||||||||||||||||
Distributed income of equity investees | 98 | 20 | ||||||||||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 896 | 842 | 663 | 358 | 347 | 433 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Minority interest in pretax income of subsidiaries that have not incurred fixed charges | 73 | 33 | 20 | 10 | 32 | 37 | ||||||||||||||||||
Interest capitalized | 2 | |||||||||||||||||||||||
Preferred stock dividend requirements | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
Earnings excluding interest on deposits | 2,586 | 4,741 | 2,604 | 2,092 | 1,914 | 2,253 | ||||||||||||||||||
Interest on deposits | 1,531 | 1,590 | 981 | 484 | 457 | 659 | ||||||||||||||||||
Total earnings | $ | 4,117 | $ | 6,331 | $ | 3,585 | $ | 2,576 | $ | 2,371 | $ | 2,912 | ||||||||||||
Fixed charges and preferred stock dividends | ||||||||||||||||||||||||
Interest on borrowed funds | $ | 842 | $ | 777 | $ | 599 | $ | 298 | $ | 258 | $ | 315 | ||||||||||||
Interest component of rentals | 50 | 64 | 63 | 58 | 59 | 58 | ||||||||||||||||||
Amortization of notes and debentures | 1 | 1 | 1 | 1 | ||||||||||||||||||||
Interest capitalized | 2 | |||||||||||||||||||||||
Distributions on mandatorily redeemable capital securities of subsidiary trusts | 28 | 58 | ||||||||||||||||||||||
Preferred stock dividend requirements | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 896 | 842 | 663 | 358 | 347 | 433 | ||||||||||||||||||
Interest on deposits | 1,531 | 1,590 | 981 | 484 | 457 | 659 | ||||||||||||||||||
Total fixed charges and preferred stock dividends | $ | 2,427 | $ | 2,432 | $ | 1,644 | $ | 842 | $ | 804 | $ | 1,092 | ||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | ||||||||||||||||||||||||
Excluding interest on deposits | 2.89 | x | 5.63 | x | 3.93 | x | 5.84 | x | 5.52 | x | 5.20 | x | ||||||||||||
Including interest on deposits | 1.70 | 2.60 | 2.18 | 3.06 | 2.95 | 2.67 |