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
 
Nine Months Ended
 
 
 
 
 
 
 
 
 
 
Dollars in millions
September 30, 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
$
3,910

 
$
4,642

 
$
4,860

 
$
4,993

 
$
5,148

 
$
3,594

Add:
 
 
 
 
 
 
 
 
 
 
 
Distributed income of equity investees
264

 
324

 
310

 
275

 
242

 
216

Fixed charges and preferred stock dividends excluding interest
    on deposits
1,179

 
1,300

 
1,134

 
1,091

 
1,028

 
1,125

Less:
 
 
 
 
 
 
 
 
 
 
 
Noncontrolling interests in pretax income of subsidiaries that
    have not incurred fixed charges
43

 
84

 
93

 
96

 
112

 
137

Interest capitalized
 
 
 
 
1

 
1

 
 
 
 
Preferred stock dividend requirements
278

 
322

 
338

 
357

 
364

 
272

Earnings excluding interest on deposits
5,032

 
5,860

 
5,872

 
5,905

 
5,942

 
4,526

Interest on deposits
433

 
430

 
403

 
325

 
344

 
386

Total earnings
$
5,465

 
$
6,290

 
$
6,275

 
$
6,230

 
$
6,286

 
$
4,912

Fixed charges and preferred stock dividends
 
 
 
 
 
 
 
 
 
 
 
Interest on borrowed funds
$
792

 
$
830

 
$
640

 
$
581

 
$
516

 
$
696

Interest component of rentals
108

 
147

 
153

 
152

 
148

 
145

Amortization of notes and debentures
1

 
1

 
2

 
 
 
 
 
12

Interest capitalized
 
 
 
 
1

 
1

 
 
 
 
Preferred stock dividend requirements
278

 
322

 
338

 
357

 
364

 
272

Fixed charges and preferred stock dividends excluding interest
    on deposits
1,179

 
1,300

 
1,134

 
1,091

 
1,028

 
1,125

Interest on deposits
433

 
430

 
403

 
325

 
344

 
386

Total fixed charges and preferred stock dividends
$
1,612

 
$
1,730

 
$
1,537

 
$
1,416

 
$
1,372

 
$
1,511

Ratio of earnings to fixed charges and preferred stock dividends
 
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
4.27
x
 
4.51
x
 
5.18
x
 
5.41
x
 
5.78
x
 
4.02
x
Including interest on deposits
3.39

 
3.64

 
4.08

 
4.40

 
4.58

 
3.25


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