EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
| For Nine Months Ended September 30, 2004 |
Year Ended | |||||||||||||||||||||||
| Dollars in millions |
2003 |
2002 |
2001 |
2000 |
1999 |
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| Earnings |
||||||||||||||||||||||||
| Income from continuing operations before taxes |
$ | 1,301 | $ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | $ | 1,788 | ||||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
256 | 347 | 433 | 782 | 1,062 | 1,009 | ||||||||||||||||||
| Subtotal |
1,557 | 1,915 | 2,254 | 1,346 | 2,910 | 2,797 | ||||||||||||||||||
| Interest on deposits |
332 | 457 | 659 | 1,229 | 1,653 | 1,369 | ||||||||||||||||||
| Total |
$ | 1,889 | $ | 2,372 | $ | 2,913 | $ | 2,575 | $ | 4,563 | $ | 4,166 | ||||||||||||
| 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 | ||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 20 | 30 | 30 | ||||||||||||||||||
| Subtotal |
256 | 347 | 433 | 782 | 1,062 | 1,009 | ||||||||||||||||||
| Interest on deposits |
332 | 457 | 659 | 1,229 | 1,653 | 1,369 | ||||||||||||||||||
| Total |
$ | 588 | $ | 804 | $ | 1,092 | $ | 2,011 | $ | 2,715 | $ | 2,378 | ||||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||||||||
| Excluding interest on deposits |
6.08 | x | 5.52 | x | 5.21 | x | 1.72 | x | 2.74 | x | 2.77 | x | ||||||||||||
| Including interest on deposits |
3.21 | 2.95 | 2.67 | 1.28 | 1.68 | 1.75 | ||||||||||||||||||