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 ==================================================================================================================================