THE PNC FINANCIAL SERVICES GROUP, INC. EXHIBIT 12.2
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
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 and preferred stock dividends
excluding interest on deposits 258 1,063 1,010 1,188 1,110 1,022
-------- -------- -------- -------- -------- --------
Subtotal 658 2,911 2,798 2,839 2,705 2,548
Interest on deposits 397 1,653 1,369 1,471 1,457 1,428
-------- -------- -------- -------- -------- --------
Total $1,055 $4,564 $4,167 $4,310 $4,162 $3,976
======== ======== ======== ======== ======== ========
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
Preferred stock dividend requirements 7 30 30 29 30 8
-------- -------- -------- -------- -------- --------
Subtotal 258 1,063 1,010 1,188 1,110 1,022
Interest on deposits 397 1,653 1,369 1,471 1,457 1,428
-------- -------- -------- -------- -------- --------
Total $655 $2,716 $2,379 $2,659 $2,567 $2,450
======== ======== ======== ======== ======== ========
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED
STOCK DIVIDENDS
Excluding interest on deposits 2.55 x 2.74 x 2.77 x 2.39 x 2.44 x 2.49 x
Including interest on deposits 1.61 1.68 1.75 1.62 1.62 1.62
=================================================================================================================================