EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends (1)
Year Ended December 31 | ||||||||||||||||||||
Dollars in millions | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Earnings | ||||||||||||||||||||
Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees | $ | 3,135 | $ | 946 | $ | 1,612 | $ | 3,737 | $ | 1,801 | ||||||||||
Add: | ||||||||||||||||||||
Distributed income of equity investees | 171 | 157 | 124 | 20 | ||||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 1,993 | 1,059 | 1,209 | 779 | 611 | |||||||||||||||
Less: | ||||||||||||||||||||
Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges | 126 | 122 | 101 | 33 | 20 | |||||||||||||||
Interest capitalized | 3 | |||||||||||||||||||
Preferred stock dividend requirements | 597 | 33 | 1 | 1 | 1 | |||||||||||||||
Earnings excluding interest on deposits | 4,573 | 2,007 | 2,843 | 4,502 | 2,391 | |||||||||||||||
Interest on deposits | 1,741 | 1,485 | 2,053 | 1,590 | 981 | |||||||||||||||
Total earnings | $ | 6,314 | $ | 3,492 | $ | 4,896 | $ | 6,092 | $ | 3,372 | ||||||||||
Fixed charges and preferred stock dividends | ||||||||||||||||||||
Interest on borrowed funds | $ | 1,225 | $ | 961 | $ | 1,143 | $ | 719 | $ | 552 | ||||||||||
Interest component of rentals | 131 | 64 | 64 | 59 | 58 | |||||||||||||||
Amortization of notes and debentures | 37 | 1 | 1 | |||||||||||||||||
Interest capitalized | 3 | |||||||||||||||||||
Preferred stock dividend requirements | 597 | 33 | 1 | 1 | 1 | |||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 1,993 | 1,059 | 1,209 | 779 | 611 | |||||||||||||||
Interest on deposits | 1,741 | 1,485 | 2,053 | 1,590 | 981 | |||||||||||||||
Total fixed charges and preferred stock dividends | $ | 3,734 | $ | 2,544 | $ | 3,262 | $ | 2,369 | $ | 1,592 | ||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | ||||||||||||||||||||
Excluding interest on deposits | 2.29 | x | 1.90 | x | 2.35 | x | 5.78 | x | 3.91 | x | ||||||||||
Including interest on deposits | 1.69 | 1.37 | 1.50 | 2.57 | 2.12 |
(1) | As defined in Item 503(d) of Regulation S-K. |