THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES EXHIBIT 12.2
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
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 and preferred stock dividends
excluding interest on deposits 121 783 1,063 1,010 1,188 1,110
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Subtotal 602 1,347 2,911 2,798 2,839 2,705
Interest on deposits 176 1,229 1,653 1,369 1,471 1,457
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Total $ 778 $2,576 $4,564 $4,167 $4,310 $4,162
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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
Preferred stock dividend requirements 20 30 30 29 30
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Subtotal 121 783 1,063 1,010 1,188 1,110
Interest on deposits 176 1,229 1,653 1,369 1,471 1,457
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Total $ 297 $2,012 $2,716 $2,379 $2,659 $2,567
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RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Excluding interest on deposits 4.98 x 1.72 x 2.74 x 2.77 x 2.39 x 2.44 x
Including interest on deposits 2.62 1.28 1.68 1.75 1.62 1.62
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