EXHIBIT 12.2
PNC BANK CORP.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(In thousands)
Year Ended December 31,
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1993 1992 1991 1990 1989
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Earnings:
Income before income taxes and cumulative
effect of changes in accounting principles.. $1,116,612 $ 778,122 $ 548,201 $ 29,425 $ 485,264
Fixed charges and preferred stock dividends
excluding interest on deposits ............. 652,432 521,907 518,005 922,156 873,248
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Subtotal.................................... 1,769,044 1,300,029 1,066,206 951,581 1,358,512
Interest on deposits ........................ 742,772 1,063,422 1,727,765 1,973,087 1,907,769
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Total ...................................... $2,511,816 $2,363,451 $2,793,971 $2,924,668 $3,266,281
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Fixed charges:
Interest on notes and debentures............. $ 265,352 $ 145,124 $ 95,207 $ 84,045 $ 61,590
Interest on borrowed funds................... 362,995 352,162 398,779 816,448 788,520
Amortization of notes and debentures ........ 967 970 584 538 506
Interest component of rentals ............... 20,584 19,167 18,800 17,667 16,467
Preferred stock dividend requirements........ 2,534 4,484 4,634 3,458 6,165
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Subtotal.................................... 652,432 521,907 518,005 922,156 873,248
Interest on deposits......................... 742,772 1,063,422 1,727,765 1,973,087 1,907,769
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Total....................................... $1,395,204 $1,585,329 $2,245,770 $2,895,243 $2,781,017
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Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends:
Excluding interest on deposits .............. 2.71x 2.49x 2.06x 1.03x 1.56x
Including interest on deposits............... 1.80 1.49 1.24 1.01 1.17