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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
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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 and preferred stock dividends
excluding interest on deposits 434 783 1,063 1,010 1,188
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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
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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
Preferred stock dividend requirements 1 20 30 30 29
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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
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