EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
| Year ended December 31 |
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| Dollars in millions |
2003 |
2002 |
2001 |
2000 |
1999 |
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| Earnings |
||||||||||||||||||||
| Income from continuing operations before taxes |
$ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | $ | 1,788 | ||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
347 | 433 | 782 | 1,062 | 1,009 | |||||||||||||||
| Subtotal |
1,915 | 2,254 | 1,346 | 2,910 | 2,797 | |||||||||||||||
| Interest on deposits |
457 | 659 | 1,229 | 1,653 | 1,369 | |||||||||||||||
| Total |
$ | 2,372 | $ | 2,913 | $ | 2,575 | $ | 4,563 | $ | 4,166 | ||||||||||
| Fixed charges |
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| Interest on borrowed funds |
$ | 258 | $ | 315 | $ | 645 | $ | 914 | $ | 869 | ||||||||||
| Interest component of rentals |
59 | 58 | 53 | 50 | 44 | |||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
28 | 58 | 63 | 67 | 65 | |||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 20 | 30 | 30 | |||||||||||||||
| Subtotal |
347 | 433 | 782 | 1,062 | 1,009 | |||||||||||||||
| Interest on deposits |
457 | 659 | 1,229 | 1,653 | 1,369 | |||||||||||||||
| Total |
$ | 804 | $ | 1,092 | $ | 2,011 | $ | 2,715 | $ | 2,378 | ||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
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| Excluding interest on deposits |
5.52 | x | 5.21 | x | 1.72 | x | 2.74 | x | 2.77 | x | ||||||||||
| Including interest on deposits |
2.95 | 2.67 | 1.28 | 1.68 | 1.75 | |||||||||||||||