EXHIBIT 12.1 THE PNC FINANCIAL SERVICES GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year ended December 31 Six months ended ------------------------------------------------------------------ Dollars in millions June 30, 2000 1999 1998 1997 1996 1995 - --------------------------------------------------------------- ---------- ----------- --------- --------- ----------- EARNINGS Income before taxes and cumulative effect of changes in accounting principles $955 $1,891 $1,710 $1,618 $1,527 $627 Fixed charges excluding interest on deposits 685 1,235 1,366 1,171 1,098 1,487 ---------------- ----------- ----------- ---------- ---------- ----------- Subtotal 1,640 3,126 3,076 2,789 2,625 2,114 Interest on deposits 766 1,369 1,471 1,457 1,428 1,552 ---------------- ----------- ----------- ---------- ---------- ----------- Total $2,406 $4,495 $4,547 $4,246 $4,053 $3,666 ================ =========== =========== ========== ========== =========== FIXED CHARGES Interest on borrowed funds $626 $1,119 $1,268 $1,098 $1,065 $1,454 Interest component of rentals 26 50 37 29 31 32 Amortization of notes and debentures 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 33 65 60 43 1 ---------------- ----------- ----------- ---------- ---------- ----------- Subtotal 685 1,235 1,366 1,171 1,098 1,487 Interest on deposits 766 1,369 1,471 1,457 1,428 1,552 ---------------- ----------- ----------- ---------- ---------- ----------- Total $1,451 $2,604 $2,837 $2,628 $2,526 $3,039 ================ =========== =========== ========== ========== =========== RATIO OF EARNINGS TO FIXED CHARGES Excluding interest on deposits 2.39x 2.53x 2.25x 2.38x 2.39x 1.42x Including interest on deposits 1.66 1.73 1.60 1.62 1.60 1.21 ====================================================================================================================================