THE PNC FINANCIAL SERVICES GROUP, INC. EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Year ended December 31
Nine months ended ------------------------------------------------------------
Dollars in millions September 30, 2000 1999 1998 1997 1996 1995
- ------------------------------------------------------------- ------ ------ ------ ------ ------
EARNINGS
Income from continuing operations before taxes $1,372 $1,788 $1,651 $1,595 $1,488 $621
Fixed charges excluding interest on deposits 799 980 1,159 1,089 1,052 1,446
------ ------ ------ ------ ------ ------
Subtotal 2,171 2,768 2,810 2,684 2,540 2,067
Interest on deposits 1,200 1,369 1,471 1,457 1,428 1,552
------ ------ ------ ------ ------ ------
Total $3,371 $4,137 $4,281 $4,141 $3,968 $3,619
====== ====== ====== ====== ====== ======
FIXED CHARGES
Interest on borrowed funds $711 $870 $1,065 $1,019 $1,023 $1,418
Interest component of rentals 37 44 33 26 27 27
Amortization of notes and debentures 1 1 1 1 1 1
Distributions on Mandatorily Redeemable Capital
Securities of Subsidiary Trusts 50 65 60 43 1
------ ------ ------ ------ ------ ------
Subtotal 799 980 1,159 1,089 1,052 1,446
Interest on deposits 1,200 1,369 1,471 1,457 1,428 1,552
------ ------ ------ ------ ------ ------
Total $1,999 $2,349 $2,630 $2,546 $2,480 $2,998
====== ====== ====== ====== ====== ======
RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.72 x 2.82 x 2.42 x 2.46 x 2.41 x 1.43 x
Including interest on deposits 1.69 1.76 1.63 1.63 1.60 1.21
==================================================================================================================================