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 $1,226 $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 1,873 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 $2,884 $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 2.89 x 2.74 x 2.77 x 2.39 x 2.44 x 2.49 x Including interest on deposits 1.74 1.68 1.75 1.62 1.62 1.62 ================================================================================================================================