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 | Three Months Ended March 31, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees | $ | 1,225 | $ | 4,642 | $ | 4,860 | $ | 4,993 | $ | 5,148 | $ | 3,594 | ||||||||||||
Add: | ||||||||||||||||||||||||
Distributed income of equity investees | 88 | 324 | 310 | 275 | 242 | 216 | ||||||||||||||||||
Fixed charges excluding interest on deposits | 277 | 978 | 796 | 734 | 664 | 853 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges | 18 | 84 | 93 | 96 | 112 | 137 | ||||||||||||||||||
Interest capitalized | 1 | 1 | ||||||||||||||||||||||
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Earnings excluding interest on deposits | 1,572 | 5,860 | 5,872 | 5,905 | 5,942 | 4,526 | ||||||||||||||||||
Interest on deposits | 120 | 430 | 403 | 325 | 344 | 386 | ||||||||||||||||||
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Total earnings | $ | 1,692 | $ | 6,290 | $ | 6,275 | 6,230 | 6,286 | 4,912 | |||||||||||||||
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Fixed charges | ||||||||||||||||||||||||
Interest on borrowed funds | $ | 240 | $ | 830 | $ | 640 | $ | 581 | $ | 516 | $ | 696 | ||||||||||||
Interest component of rentals | 37 | 147 | 153 | 152 | 148 | 145 | ||||||||||||||||||
Amortization of notes and debentures | 1 | 2 | 12 | |||||||||||||||||||||
Interest capitalized | 1 | 1 | ||||||||||||||||||||||
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Fixed charges excluding interest on deposits | 277 | 978 | 796 | 734 | 664 | 853 | ||||||||||||||||||
Interest on deposits | 120 | 430 | 403 | 325 | 344 | 386 | ||||||||||||||||||
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Total fixed charges | $ | 397 | $ | 1,408 | $ | 1,199 | $ | 1,059 | $ | 1,008 | $ | 1,239 | ||||||||||||
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Ratio of earnings to fixed charges | ||||||||||||||||||||||||
Excluding interest on deposits | 5.68x | 5.99x | 7.38x | 8.04x | 8.95x | 5.31x | ||||||||||||||||||
Including interest on deposits | 4.26 | 4.47 | 5.23 | 5.88 | 6.24 | 3.96 | ||||||||||||||||||
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(1) | As defined in Item 503(d) of RegulationS-K. |