. . . 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 - -------------------------------------------------------------- ---------- ----------- ---------- --------- --------- 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 -------------- ---------- ----------- ---------- --------- --------- 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 -------------- ---------- ----------- ---------- --------- --------- 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 -------------- ---------- ----------- ---------- --------- --------- 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 ==========================================================================================================================