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 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings | ||||||||||||||||||||
Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees | $ | 4,860 | $ | 4,993 | $ | 5,148 | $ | 3,594 | $ | 3,785 | ||||||||||
Add: | ||||||||||||||||||||
Distributed income of equity investees | 310 | 275 | 242 | 216 | 198 | |||||||||||||||
Fixed charges excluding interest on deposits | 796 | 734 | 664 | 853 | 951 | |||||||||||||||
Less: | ||||||||||||||||||||
Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges | 93 | 96 | 112 | 137 | 154 | |||||||||||||||
Interest capitalized | 1 | 1 | ||||||||||||||||||
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Earnings excluding interest on deposits | 5,872 | 5,905 | 5,942 | 4,526 | 4,780 | |||||||||||||||
Interest on deposits | 403 | 325 | 344 | 386 | 668 | |||||||||||||||
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Total earnings | $ | 6,275 | $ | 6,230 | 6,286 | 4,912 | 5,448 | |||||||||||||
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Fixed charges | ||||||||||||||||||||
Interest on borrowed funds | $ | 640 | $ | 581 | $ | 516 | $ | 696 | $ | 791 | ||||||||||
Interest component of rentals | 153 | 152 | 148 | 145 | 125 | |||||||||||||||
Amortization of notes and debentures | 2 | 12 | 35 | |||||||||||||||||
Interest capitalized | 1 | 1 | ||||||||||||||||||
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Fixed charges excluding interest on deposits | 796 | 734 | 664 | 853 | 951 | |||||||||||||||
Interest on deposits | 403 | 325 | 344 | 386 | 668 | |||||||||||||||
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Total fixed charges | $ | 1,199 | $ | 1,059 | $ | 1,008 | �� | $ | 1,239 | $ | 1,619 | |||||||||
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Ratio of earnings to fixed charges | ||||||||||||||||||||
Excluding interest on deposits | 7.38 | x | 8.04 | x | 8.95 | x | 5.31 | x | 5.03 | x | ||||||||||
Including interest on deposits | 5.23 | 5.88 | 6.24 | 3.96 | 3.37 | |||||||||||||||
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(1) | As defined in Item 503(d) of Regulation S-K. |