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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
Three months ended Year ended December 31
March 31 ---------------------------------------------------------
Dollars in millions 2003 2002 2001 2000 1999 1998
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EARNINGS
Income from continuing operations before taxes $ 395 $ 1,821 $ 564 $ 1,848 $ 1,788 $ 1,651
Fixed charges and preferred stock dividends
excluding interest on deposits 93 434 783 1,063 1,010 1,188
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Subtotal 488 2,255 1,347 2,911 2,798 2,839
Interest on deposits 132 659 1,229 1,653 1,369 1,471
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Total $ 620 $ 2,914 $ 2,576 $ 4,564 $ 4,167 $ 4,310
============== ========== =========== ========== ========= =========
FIXED CHARGES
Interest on borrowed funds $ 57 $ 316 $ 646 $ 915 $ 870 $ 1,065
Interest component of rentals 22 58 53 50 44 33
Amortization of notes and debentures 1 1 1 1 1
Distributions on Mandatorily Redeemable
Capital Securities of Subsidiary Trusts 14 58 63 67 65 60
Preferred stock dividend requirements 1 20 30 30 29
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Subtotal 93 434 783 1,063 1,010 1,188
Interest on deposits 132 659 1,229 1,653 1,369 1,471
-------------- ---------- ----------- ---------- --------- ---------
Total $ 225 $ 1,093 $ 2,012 $ 2,716 $ 2,379 $ 2,659
============== ========== =========== ========== ========= =========
RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Excluding interest on deposits 5.25 x 5.20 x 1.72 x 2.74 x 2.77 x 2.39 x
Including interest on deposits 2.76 2.67 1.28 1.68 1.75 1.62
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