EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (1)
Year Ended December 31 | ||||||||||||||||||||||||
Dollars in millions | Six Months Ended June 30, 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees | $ | 2,552 | $ | 5,148 | $ | 3,594 | $ | 3,785 | $ | 3,680 | $ | 3,129 | ||||||||||||
Add: | ||||||||||||||||||||||||
Distributed income of equity investees | 137 | 242 | 216 | 198 | 167 | 171 | ||||||||||||||||||
Fixed charges excluding interest on deposits | 360 | 664 | 853 | 951 | 1,092 | 1,396 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges | 46 | 112 | 137 | 154 | 148 | 126 | ||||||||||||||||||
Interest capitalized | 1 | 3 | ||||||||||||||||||||||
Earnings excluding interest on deposits | 3,003 | 5,942 | 4,526 | 4,780 | 4,790 | 4,567 | ||||||||||||||||||
Interest on deposits | 158 | 344 | 386 | 668 | 963 | 1,741 | ||||||||||||||||||
Total earnings | $ | 3,161 | $ | 6,286 | 4,912 | 5,448 | 5,753 | 6,308 | ||||||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest on borrowed funds | $ | 284 | $ | 516 | $ | 696 | $ | 791 | $ | 918 | $ | 1,225 | ||||||||||||
Interest component of rentals | 76 | 148 | 145 | 125 | 134 | 131 | ||||||||||||||||||
Amortization of notes and debentures | 12 | 35 | 39 | 37 | ||||||||||||||||||||
Interest capitalized | 1 | 3 | ||||||||||||||||||||||
Fixed charges excluding interest on deposits | 360 | 664 | 853 | 951 | 1,092 | 1,396 | ||||||||||||||||||
Interest on deposits | 158 | 344 | 386 | 668 | 963 | 1,741 | ||||||||||||||||||
Total fixed charges | $ | 518 | $ | 1,008 | $ | 1,239 | $ | 1,619 | $ | 2,055 | $ | 3,137 | ||||||||||||
Ratio of earnings to fixed charges | ||||||||||||||||||||||||
Excluding interest on deposits | 8.34 | x | 8.95 | x | 5.31 | x | 5.03 | x | 4.39 | x | 3.27 | x | ||||||||||||
Including interest on deposits | 6.10 | 6.24 | 3.96 | 3.37 | 2.80 | 2.01 |
(1) | As defined in Item 503(d) of Regulation S-K. |