The PNC Financial Services Group, Inc. (PNC) 10-Q 2015 Q3 Quarterly report

EXHIBIT 12.1

The PNC Financial Services Group, Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges (1)

Dollars in millions	Nine Months Ended September 30, 2015			Year Ended December 31
					2014			2013			2012			2011			2010
Earnings
Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees	$	3,653		$	4,993		$	5,148		$	3,594		$	3,785		$	3,680
Add:
Distributed income of equity investees		232			275			242			216			198			167
Fixed charges excluding interest on deposits		599			734			664			853			951			1,092
Less:
Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges		71			96			112			137			154			148
Interest capitalized		1			1												1
Earnings excluding interest on deposits		4,412			5,905			5,942			4,526			4,780			4,790
Interest on deposits		297			325			344			386			668			963
Total earnings	$	4,709		$	6,230		$	6,286			4,912			5,448			5,753
Fixed charges
Interest on borrowed funds	$	482		$	581		$	516		$	696		$	791		$	918
Interest component of rentals		116			152			148			145			125			134
Amortization of notes and debentures											12			35			39
Interest capitalized		1			1												1
Fixed charges excluding interest on deposits		599			734			664			853			951			1,092
Interest on deposits		297			325			344			386			668			963
Total fixed charges	$	896		$	1,059		$	1,008		$	1,239		$	1,619		$	2,055
Ratio of earnings to fixed charges
Excluding interest on deposits		7.37	x		8.04	x		8.95	x		5.31	x		5.03	x		4.39	x
Including interest on deposits		5.26			5.88			6.24			3.96			3.37			2.80

(1) As defined in Item 503(d) of Regulation S-K.