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 - ------------------------------------------------------------------------------------------------------------------------------------ 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 ----------------------------------------------------------------- Subtotal 3,126 3,076 2,789 2,625 2,114 Interest on deposits 1,369 1,471 1,457 1,428 1,552 ----------------------------------------------------------------- Total $4,495 $4,547 $4,246 $4,053 $3,666 ================================================================= 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 ----------------------------------------------------------------- Subtotal 1,235 1,366 1,171 1,098 1,487 Interest on deposits 1,369 1,471 1,457 1,428 1,552 ----------------------------------------------------------------- Total $2,604 $2,837 $2,628 $2,526 $3,039 ================================================================= 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 ====================================================================================================================================