The PNC Financial Services Group, Inc. and Subsidiaries Exhibit 12.1
Computation of Ratio of Earnings
to Fixed Charges
Year ended December 31,
Six months ended ---------------------------------------------------------------
Dollars in millions June 30, 2001 2000 1999 1998 1997 1996
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EARNINGS
Income from continuing operations
before taxes $851 $1,848 $1,788 $1,651 $1,595 $1,526
Fixed charges excluding interest
on deposits 460 1,033 980 1,159 1,080 1,014
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Subtotal 1,311 2,881 2,768 2,810 2,675 2,540
Interest on deposits 731 1,653 1,369 1,471 1,457 1,428
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Total $2,042 $4,534 $4,137 $4,281 $4,132 $3,968
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FIXED CHARGES
Interest on borrowed funds $401 $915 $870 $1,065 $1,010 $985
Interest component of rentals 26 50 44 33 26 27
Amortization of notes and
debentures 1 1 1 1 1
Distributions on Mandatorily
Redeemable Capital Securities
of Subsidiary Trusts 33 67 65 60 43 1
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Subtotal 460 1,033 980 1,159 1,080 1,014
Interest on deposits 731 1,653 1,369 1,471 1,457 1,428
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Total $1,191 $2,686 $2,349 $2,630 $2,537 $2,442
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RATIO OF EARNINGS TO FIXED
CHARGES
Excluding interest on deposits 2.85x 2.79x 2.82x 2.42x 2.48x 2.50x
Including interest on deposits 1.71 1.69 1.76 1.63 1.63 1.62
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