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THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES Exhibit 12.1
Computation of Ratio of Earnings
to Fixed Charges
Year ended December 31
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Dollars in millions 2002 2001 2000 1999 1998
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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
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Subtotal 2,254 1,327 2,881 2,768 2,810
Interest on deposits 659 1,229 1,653 1,369 1,471
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Total $ 2,913 $ 2,556 $ 4,534 $ 4,137 $ 4,281
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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
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Subtotal 433 763 1,033 980 1,159
Interest on deposits 659 1,229 1,653 1,369 1,471
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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
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