. . . THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES Exhibit 12.2 Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
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 and preferred stock dividends excluding interest on deposits 434 783 1,063 1,010 1,188 ---------------- ------------- ------------- ----------- ------------ Subtotal 2,255 1,347 2,911 2,798 2,839 Interest on deposits 659 1,229 1,653 1,369 1,471 ---------------- ------------- ------------- ----------- ------------ Total $ 2,914 $ 2,576 $ 4,564 $ 4,167 $ 4,310 ================ ============= ============= =========== ============ 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 Preferred stock dividend requirements 1 20 30 30 29 ---------------- ------------- ------------- ----------- ------------ Subtotal 434 783 1,063 1,010 1,188 Interest on deposits 659 1,229 1,653 1,369 1,471 ---------------- ------------- ------------- ----------- ------------ Total $ 1,093 $ 2,012 $ 2,716 $ 2,379 $ 2,659 ================ ============= ============= =========== ============ RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 5.20 x 1.72 x 2.74 x 2.77 x 2.39 x Including interest on deposits 2.67 1.28 1.68 1.75 1.62 ========================================================================================================================