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 Nine months ended -------------------------------------------------------------- Dollars in millions September 30, 2001 2000 1999 1998 1997 1996 - ------------------------------------------------------------------ ---------- ---------- ---------- --------- ---------- EARNINGS Income from continuing operations before taxes $1,305 $1,848 $1,788 $1,651 $1,595 $1,526 Fixed charges and preferred stock dividends excluding interest on deposits 647 1,063 1,010 1,188 1,110 1,022 ---------------- ---------- ---------- ---------- --------- ---------- Subtotal 1,952 2,911 2,798 2,839 2,705 2,548 Interest on deposits 1,011 1,653 1,369 1,471 1,457 1,428 ---------------- ---------- ---------- ---------- --------- ---------- Total $2,963 $4,564 $4,167 $4,310 $4,162 $3,976 ================ ========== ========== ========== ========= ========== FIXED CHARGES Interest on borrowed funds $540 $915 $870 $1,065 $1,010 $985 Interest component of rentals 39 50 44 33 26 27 Amortization of notes and debentures 1 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 48 67 65 60 43 1 Preferred stock dividend requirements 19 30 30 29 30 8 ---------------- ---------- ---------- ---------- --------- ---------- Subtotal 647 1,063 1,010 1,188 1,110 1,022 Interest on deposits 1,011 1,653 1,369 1,471 1,457 1,428 ---------------- ---------- ---------- ---------- --------- ---------- Total $1,658 $2,716 $2,379 $2,659 $2,567 $2,450 ================ ========== ========== ========== ========= ========== RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 3.02x 2.74x 2.77x 2.39x 2.44x 2.49x Including interest on deposits 1.79 1.68 1.75 1.62 1.62 1.62 ===================================================================================================================================