THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Year ended December 31
Dollars in millions 1999 1998 1997 1996 1995
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EARNINGS
Income before taxes $1,891 $1,710 $1,618 $1,527 $ 627
Fixed charges excluding interest on deposits 1,235 1,366 1,171 1,098 1,487
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Subtotal 3,126 3,076 2,789 2,625 2,114
Interest on deposits 1,369 1,471 1,457 1,428 1,552
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Total $4,495 $4,547 $4,246 $4,053 $3,666
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FIXED CHARGES
Interest on borrowed funds $1,119 $1,268 $1,098 $1,065 $1,454
Interest component of rentals 50 37 29 31 32
Amortization of notes and debentures 1 1 1 1 1
Distributions on Mandatorily Redeemable Capital
Securities of Subsidiary Trusts 65 60 43 1
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Subtotal 1,235 1,366 1,171 1,098 1,487
Interest on deposits 1,369 1,471 1,457 1,428 1,552
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Total $2,604 $2,837 $2,628 $2,526 $3,039
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.53x 2.25x 2.38x 2.39x 1.42x
Including interest on deposits 1.73 1.60 1.62 1.60 1.21
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