THE PNC FINANCIAL SERVICES GROUP, INC. EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Year ended December 31 months ended ------------------------------------------------------------ Dollars in millions March 31, 2000 1999 1998 1997 1996 1995 - --------------------------------------------------------- ----------- ----------- ---------- ----------- ----------- EARNINGS Income before taxes and cumulative effect of changes in accounting principles $471 $1,891 $1,710 $1,618 $1,527 $627 Fixed charges excluding interest on deposits 337 1,235 1,366 1,171 1,098 1,487 ------ ------ ------ ------ ------ ------ Subtotal 808 3,126 3,076 2,789 2,625 2,114 Interest on deposits 369 1,369 1,471 1,457 1,428 1,552 ------ ------ ------ ------ ------ ------ Total $1,177 $4,495 $4,547 $4,246 $4,053 $3,666 ====== ====== ====== ====== ====== ====== FIXED CHARGES Interest on borrowed funds $308 $1,119 $1,268 $1,098 $1,065 $1,454 Interest component of rentals 13 50 37 29 31 32 Amortization of notes and debentures 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 16 65 60 43 1 ------ ------ ------ ------ ------ ------ Subtotal 337 1,235 1,366 1,171 1,098 1,487 Interest on deposits 369 1,369 1,471 1,457 1,428 1,552 ------ ------ ------ ------ ------ ------ Total $ 706 $2,604 $2,837 $2,628 $2,526 $3,039 ====== ====== ====== ====== ====== ====== RATIO OF EARNINGS TO FIXED CHARGES Excluding interest on deposits 2.40 x 2.53 x 2.25 x 2.38 x 2.39 x 1.42 x Including interest on deposits 1.67 1.73 1.60 1.62 1.60 1.21 ======================================================================================================================