EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends (1)
Nine Months Ended | Year Ended December 31 | |||||||||||||||||||||||
Dollars in millions | September 30, 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 1,450 | $ | 1,806 | $ | 3,913 | $ | 1,962 | $ | 1,745 | $ | 1,600 | ||||||||||||
Add: | ||||||||||||||||||||||||
Distributed income of equity investees | 118 | 124 | 20 | |||||||||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 841 | 1,268 | 842 | 663 | 358 | 347 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Minority interest in pretax income of subsidiaries that have not incurred fixed charges | 91 | 101 | 33 | 20 | 10 | 32 | ||||||||||||||||||
Preferred stock dividend requirements | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
Earnings excluding interest on deposits | 2,317 | 3,096 | 4,741 | 2,604 | 2,092 | 1,914 | ||||||||||||||||||
Interest on deposits | 1,152 | 2,053 | 1,590 | 981 | 484 | 457 | ||||||||||||||||||
Total earnings | $ | 3,469 | $ | 5,149 | $ | 6,331 | $ | 3,585 | $ | 2,576 | $ | 2,371 | ||||||||||||
Fixed charges and preferred stock dividends | ||||||||||||||||||||||||
Interest on borrowed funds | $ | 787 | $ | 1,197 | $ | 777 | $ | 599 | $ | 298 | $ | 258 | ||||||||||||
Interest component of rentals | 53 | 69 | 64 | 63 | 58 | 59 | ||||||||||||||||||
Amortization of notes and debentures | 1 | 1 | 1 | |||||||||||||||||||||
Distributions on mandatorily redeemable capital securities of subsidiary trusts | 28 | |||||||||||||||||||||||
Preferred stock dividend requirements | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 841 | 1,268 | 842 | 663 | 358 | 347 | ||||||||||||||||||
Interest on deposits | 1,152 | 2,053 | 1,590 | 981 | 484 | 457 | ||||||||||||||||||
Total fixed charges and preferred stock dividends | $ | 1,993 | $ | 3,321 | $ | 2,432 | $ | 1,644 | $ | 842 | $ | 804 | ||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | ||||||||||||||||||||||||
Excluding interest on deposits | 2.76 | x | 2.44 | x | 5.63 | x | 3.93 | x | 5.84 | x | 5.52 | x | ||||||||||||
Including interest on deposits | 1.74 | 1.55 | 2.60 | 2.18 | 3.06 | 2.95 |
(1) | As defined in Item 503(d) of Regulation S-K. |