. . . EXHIBIT 12.2 THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
Six months ended Year ended December 31 June 30 -------------------------------------------------------------- Dollars in millions 2003 2002 2001 2000 1999 1998 - ------------------------------------------------------------ ------ ------ ------ ------ ------ EARNINGS Income from continuing operations before taxes $ 687 $1,821 $ 564 $1,848 $1,788 $1,651 Fixed charges and preferred stock dividends excluding interest on deposits 171 434 783 1,063 1,010 1,188 ------ ------ ------ ------ ------ ------ Subtotal 858 2,255 1,347 2,911 2,798 2,839 Interest on deposits 249 659 1,229 1,653 1,369 1,471 ------ ------ ------ ------ ------ ------ Total $1,107 $2,914 $2,576 $4,564 $4,167 $4,310 ====== ====== ====== ====== ====== ====== FIXED CHARGES Interest on borrowed funds $ 111 $ 316 $ 646 $ 915 $ 870 $1,065 Interest component of rentals 30 58 53 50 44 33 Amortization of notes and debentures 1 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 28 58 63 67 65 60 Preferred stock dividend requirements 1 1 20 30 30 29 ------ ------ ------ ------ ------ ------ Subtotal 171 434 783 1,063 1,010 1,188 Interest on deposits 249 659 1,229 1,653 1,369 1,471 ------ ------ ------ ------ ------ ------ Total $ 420 $1,093 $2,012 $2,716 $2,379 $2,659 ====== ====== ====== ====== ====== ====== RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 5.02 x 5.20 x 1.72 x 2.74 x 2.77 x 2.39 x Including interest on deposits 2.64 2.67 1.28 1.68 1.75 1.62 - -----------------------------------------------------------------------------------------------------------------------------------