THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Three months ended Year ended December 31
March 31 -------------------------------------------------------------
Dollars in millions 2002 2001 2000 1999 1998 1997
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EARNINGS
Income from continuing operations before taxes $ 481 $ 564 $1,848 $1,788 $1,651 $1,595
Fixed charges excluding interest on deposits 121 763 1,033 980 1,159 1,080
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Subtotal 602 1,327 2,881 2,768 2,810 2,675
Interest on deposits 176 1,229 1,653 1,369 1,471 1,457
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Total $ 778 $2,556 $4,534 $4,137 $4,281 $4,132
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FIXED CHARGES
Interest on borrowed funds $ 92 $ 646 $ 915 $ 870 $1,065 $1,010
Interest component of rentals 14 53 50 44 33 26
Amortization of notes and debentures 1 1 1 1 1
Distributions on Mandatorily Redeemable
Capital Securities of Subsidiary Trusts 15 63 67 65 60 43
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Subtotal 121 763 1,033 980 1,159 1,080
Interest on deposits 176 1,229 1,653 1,369 1,471 1,457
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Total $ 297 $1,992 $2,686 $2,349 $2,630 $2,537
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 4.98 x 1.74 x 2.79 x 2.82 x 2.42 x 2.48 x
Including interest on deposits 2.62 1.28 1.69 1.76 1.63 1.63
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