. . . THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges
Year ended December 31 ------------------------------------------------------------------------- Dollars in millions 2002 2001 2000 1999 1998 - ---------------------------------------------------------------- ------------- ------------- ----------- ------------ EARNINGS Income from continuing operations before taxes $ 1,821 $ 564 $ 1,848 $ 1,788 $ 1,651 Fixed charges excluding interest on deposits 433 763 1,033 980 1,159 ---------------- ------------- ------------- ----------- ------------ Subtotal 2,254 1,327 2,881 2,768 2,810 Interest on deposits 659 1,229 1,653 1,369 1,471 ---------------- ------------- ------------- ----------- ------------ Total $ 2,913 $ 2,556 $ 4,534 $ 4,137 $ 4,281 ================ ============= ============= =========== ============ FIXED CHARGES Interest on borrowed funds $ 316 $ 646 $ 915 $ 870 $ 1,065 Interest component of rentals 58 53 50 44 33 Amortization of notes and debentures 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 58 63 67 65 60 ---------------- ------------- ------------- ----------- ------------ Subtotal 433 763 1,033 980 1,159 Interest on deposits 659 1,229 1,653 1,369 1,471 ---------------- ------------- ------------- ----------- ------------ Total $ 1,092 $ 1,992 $ 2,686 $ 2,349 $ 2,630 ================ ============= ============= =========== ============ RATIO OF EARNINGS TO FIXED CHARGES Excluding interest on deposits 5.21 x 1.74 x 2.79 x 2.82 x 2.42 x Including interest on deposits 2.67 1.28 1.69 1.76 1.63 ========================================================================================================================