PNC BANK CORP. EXHIBIT 12.2
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Nine Year ended December 31
months ended -------------------------------------------------------------
Dollars in millions September 30, 1999 1998 1997 1996 1995 1994
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EARNINGS
Income before taxes and cumulative effect
of changes in accounting principles $ 1,458 $ 1,710 $ 1,618 $ 1,527 $ 627 $ 1,209
Fixed charges and preferred stock dividends
excluding interest on deposits 931 1,395 1,201 1,106 1,492 1,112
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Subtotal 2,389 3,105 2,819 2,633 2,119 2,321
Interest on deposits 1,024 1,471 1,457 1,428 1,552 1,160
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Total $ 3,413 $ 4,576 $ 4,276 $ 4,061 $ 3,671 $ 3,481
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FIXED CHARGES
Interest on borrowed funds $ 823 $ 1,267 $ 1,098 $ 1,065 $ 1,454 $ 1,071
Interest component of rentals 38 37 29 31 32 32
Amortization of notes and debentures 2 1 1 1 1
Distributions on Mandatorily Redeemable
Capital Securities of Subsidiary Trusts 48 60 43 1
Preferred stock dividend requirements 22 29 30 8 5 8
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Subtotal 931 1,395 1,201 1,106 1,492 1,112
Interest on deposits 1,024 1,471 1,457 1,428 1,552 1,160
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Total $ 1,955 $ 2,866 $ 2,658 $ 2,534 $ 3,044 $ 2,272
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RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Excluding interest on deposits 2.57 x 2.23 x 2.35 x 2.38 x 1.42 x 2.09 x
Including interest on deposits 1.75 1.60 1.61 1.60 1.21 1.53
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