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EXHIBIT 12.1
THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings
to Fixed Charges
Nine months ended Year ended December 31
September 30 --------------------------------------------------------------
Dollars in millions 2003 2002 2001 2000 1999 1998
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EARNINGS
Income from continuing operations before taxes $1,120 $1,821 $ 564 $1,848 $1,788 $1,651
Fixed charges excluding interest on deposits 284 433 763 1,033 980 1,159
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Subtotal 1,404 2,254 1,327 2,881 2,768 2,810
Interest on deposits 355 659 1,229 1,653 1,369 1,471
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Total $1,759 $2,913 $2,556 $4,534 $4,137 $4,281
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FIXED CHARGES
Interest on borrowed funds $ 210 $ 316 $ 646 $ 915 $ 870 $1,065
Interest component of rentals 45 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
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Subtotal 284 433 763 1,033 980 1,159
Interest on deposits 355 659 1,229 1,653 1,369 1,471
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Total $ 639 $1,092 $1,992 $2,686 $2,349 $2,630
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 4.94 x 5.21 x 1.74 x 2.79 x 2.82 x 2.42 x
Including interest on deposits 2.75 2.67 1.28 1.69 1.76 1.63
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