EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges
| For Nine Months Ended September 30, 2004 |
Year Ended | |||||||||||||||||||||||
| Dollars in millions |
2003 |
2002 |
2001 |
2000 |
1999 |
|||||||||||||||||||
| Earnings |
||||||||||||||||||||||||
| Income from continuing operations before taxes |
$ | 1,301 | $ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | $ | 1,788 | ||||||||||||
| Fixed charges excluding interest on deposits |
255 | 346 | 432 | 762 | 1,032 | 979 | ||||||||||||||||||
| Subtotal |
1,556 | 1,914 | 2,253 | 1,326 | 2,880 | 2,767 | ||||||||||||||||||
| Interest on deposits |
332 | 457 | 659 | 1,229 | 1,653 | 1,369 | ||||||||||||||||||
| Total |
$ | 1,888 | $ | 2,371 | $ | 2,912 | $ | 2,555 | $ | 4,533 | $ | 4,136 | ||||||||||||
| Fixed charges |
||||||||||||||||||||||||
| Interest on borrowed funds |
$ | 211 | $ | 258 | $ | 315 | $ | 645 | $ | 914 | $ | 869 | ||||||||||||
| Interest component of rentals |
44 | 59 | 58 | 53 | 50 | 44 | ||||||||||||||||||
| Amortization of notes and debentures |
0 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
0 | 28 | 58 | 63 | 67 | 65 | ||||||||||||||||||
| Subtotal |
255 | 346 | 432 | 762 | 1,032 | 979 | ||||||||||||||||||
| Interest on deposits |
332 | 457 | 659 | 1,229 | 1,653 | 1,369 | ||||||||||||||||||
| Total |
$ | 587 | $ | 803 | $ | 1,091 | $ | 1,991 | $ | 2,685 | $ | 2,348 | ||||||||||||
| Ratio of earnings to fixed charges |
||||||||||||||||||||||||
| Excluding interest on deposits |
6.10 | x | 5.53 | x | 5.22 | x | 1.74 | x | 2.79 | x | 2.83 | x | ||||||||||||
| Including interest on deposits |
3.22 | 2.95 | 2.67 | 1.28 | 1.69 | 1.76 | ||||||||||||||||||