PNC Bank Corp. and Subsidiaries Exhibit 12.2 Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Year ended December 31 Six months ended ---------------------------------------------------------------------- Dollars in thousands June 30, 1997 1996 1995 1994 1993 1992 - ------------------------------------------------------------------------------------------------------------------------------- EARNINGS Income before taxes and cumulative effect of changes in accounting principles $801,587 $1,527,551 $627,012 $1,209,916 $1,140,487 $787,994 Fixed charges and preferred stock dividends excluding interest on deposits 588,252 1,105,324 1,492,391 1,112,564 712,339 592,902 -------------------------------------------------------------------------------------- Subtotal 1,389,839 2,632,875 2,119,403 2,322,480 1,852,826 1,380,896 Interest on deposits 714,155 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576 -------------------------------------------------------------------------------------- Total $2,103,994 $4,061,646 $3,671,219 $3,481,722 $2,858,484 $2,927,472 ====================================================================================== FIXED CHARGES Interest on borrowed funds $541,658 $1,064,847 $1,455,069 $1,070,565 $676,319 $555,610 Interest component of rentals 14,376 29,839 31,283 32,247 26,491 25,739 Amortization of borrowed funds 404 816 927 1,761 1,418 1,505 Distributions on capital securities 16,823 1,391 Preferred stock dividends 14,991 8,431 5,112 7,991 8,111 10,048 -------------------------------------------------------------------------------------- Subtotal 588,252 1,105,324 1,492,391 1,112,564 712,339 592,902 Interest on deposits 714,155 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576 -------------------------------------------------------------------------------------- Total $1,302,407 $2,534,095 $3,044,207 $2,271,806 $1,717,997 $2,139,478 ====================================================================================== RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 2.36x 2.38x 1.42x 2.09x 2.60x 2.33x Including interest on deposits 1.62 1.60 1.21 1.53 1.66 1.37 ===============================================================================================================================