THE PNC FINANCIAL SERVICES GROUP, INC. EXHIBIT 12.2 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
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 and preferred stock dividends excluding interest on deposits 344 1,265 1,395 1,201 1,106 1,492 ------- ------ ------ ------ ------ ------ Subtotal 815 3,156 3,105 2,819 2,633 2,119 Interest on deposits 369 1,369 1,471 1,457 1,428 1,552 ------- ------ ------ ------ ------ ------ Total $1,184 $4,525 $4,576 $4,276 $4,061 $ 3,671 ======= ====== ====== ====== ====== ======= 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 Preferred stock dividend requirements 7 30 29 30 8 5 ------- ------ ------ ------ ------ ------ Subtotal 344 1,265 1,395 1,201 1,106 1,492 Interest on deposits 369 1,369 1,471 1,457 1,428 1,552 ------- ------ ------ ------ ------ ------ Total $713 $2,634 $2,866 $2,658 $2,534 $3,044 ======= ====== ====== ====== ====== ====== RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 2.37 x 2.49 x 2.23 x 2.35 x 2.38 x 1.42 x Including interest on deposits 1.66 1.72 1.60 1.61 1.60 1.21 ======================================================================================================================