THE PNC FINANCIAL SERVICES GROUP, INC. EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year ended December 31 Three months ended ----------------------------------------------------------- Dollars in millions March 31, 2001 2000 1999 1998 1997 1996 - ------------------------------------------------------------------- -------- -------- -------- ------- -------- EARNINGS Income from continuing operations before taxes $400 $1,848 $1,788 $1,651 $1,595 $1,526 Fixed charges excluding interest on deposits 251 1,033 980 1,159 1,080 1,014 --------- -------- -------- -------- ------- -------- Subtotal 651 2,881 2,768 2,810 2,675 2,540 Interest on deposits 397 1,653 1,369 1,471 1,457 1,428 --------- -------- -------- -------- -------- -------- Total $1,048 $4,534 $4,137 $4,281 $4,132 $3,968 ========= ======== ======== ======== ======== ======== FIXED CHARGES Interest on borrowed funds $221 $915 $870 $1,065 $1,010 $985 Interest component of rentals 13 50 44 33 26 27 Amortization of notes and debentures 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 17 67 65 60 43 1 --------- -------- -------- -------- -------- -------- Subtotal 251 1,033 980 1,159 1,080 1,014 Interest on deposits 397 1,653 1,369 1,471 1,457 1,428 --------- -------- -------- -------- -------- -------- Total $648 $2,686 $2,349 $2,630 $2,537 $2,442 ========= ======== ======== ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES Excluding interest on deposits 2.59 x 2.79 x 2.82 x 2.42 x 2.48 x 2.50 x Including interest on deposits 1.62 1.69 1.76 1.63 1.63 1.62 ==================================================================================================================================