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, 2001 2000 1999 1998 1997 1996
- ----------------------------------------------------------------- ----------- ----------- ---------- ---------- -----------
EARNINGS
Income from continuing operations before taxes $1,226 $1,848 $1,788 $1,651 $1,595 $1,526
Fixed charges excluding interest on deposits 628 1,033 980 1,159 1,080 1,014
---------------- ----------- ----------- ---------- ---------- -----------
Subtotal 1,854 2,881 2,768 2,810 2,675 2,540
Interest on deposits 1,011 1,653 1,369 1,471 1,457 1,428
---------------- ----------- ----------- ---------- ---------- -----------
Total $2,865 $4,534 $4,137 $4,281 $4,132 $3,968
================ =========== =========== ========== ========== ===========
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
---------------- ----------- ----------- ---------- ---------- -----------
Subtotal 628 1,033 980 1,159 1,080 1,014
Interest on deposits 1,011 1,653 1,369 1,471 1,457 1,428
---------------- ----------- ----------- ---------- ---------- -----------
Total $1,639 $2,686 $2,349 $2,630 $2,537 $2,442
================ =========== =========== ========== ========== ===========
RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.95 x 2.79 x 2.82 x 2.42 x 2.48 x 2.50 x
Including interest on deposits 1.75 1.69 1.76 1.63 1.63 1.62
- --------------------------------------------------------------------------------------------------------------------------------