.
.
.
EXHIBIT 12.2
THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
Nine months ended Year ended December 31
September 30 -------------------------------------------------------------
Dollars in millions 2003 2002 2001 2000 1999 1998
- ------------------------------------------------------------ ------ ------ ------ ------ ------
EARNINGS
Income from continuing operations before taxes $1,120 $1,821 $ 564 $1,848 $1,788 $1,651
Fixed charges and preferred stock dividends
excluding interest on deposits 285 434 783 1,063 1,010 1,188
------ ------ ------ ------ ------ ------
Subtotal 1,405 2,255 1,347 2,911 2,798 2,839
Interest on deposits 355 659 1,229 1,653 1,369 1,471
------ ------ ------ ------ ------ ------
Total $1,760 $2,914 $2,576 $4,564 $4,167 $4,310
====== ====== ====== ====== ====== ======
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
Preferred stock dividend requirements 1 1 20 30 30 29
------ ------ ------ ------ ------ ------
Subtotal 285 434 783 1,063 1,010 1,188
Interest on deposits 355 659 1,229 1,653 1,369 1,471
------ ------ ------ ------ ------ ------
Total $ 640 $1,093 $2,012 $2,716 $2,379 $2,659
====== ====== ====== ====== ====== ======
RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Excluding interest on deposits 4.93 x 5.20 x 1.72 x 2.74 x 2.77 x 2.39 x
Including interest on deposits 2.75 2.67 1.28 1.68 1.75 1.62
============================================================ ============================================================