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, Dollars in millions |
2004 |
2003 |
2002 |
2001 |
2000 |
|||||||||||||||
| Earnings | ||||||||||||||||||||
| Income from continuing operations before taxes |
$ | 1,735 | $ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | ||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
358 | 347 | 433 | 782 | 1,062 | |||||||||||||||
| Subtotal |
2,093 | 1,915 | 2,254 | 1,346 | 2,910 | |||||||||||||||
| Interest on deposits |
484 | 457 | 659 | 1,229 | 1,653 | |||||||||||||||
| Total |
$ | 2,577 | $ | 2,372 | $ | 2,913 | $ | 2,575 | $ | 4,563 | ||||||||||
| Fixed charges | ||||||||||||||||||||
| Interest on borrowed funds |
$ | 298 | $ | 258 | $ | 315 | $ | 645 | $ | 914 | ||||||||||
| Interest component of rentals |
58 | 59 | 58 | 53 | 50 | |||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
0 | 28 | 58 | 63 | 67 | |||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 20 | 30 | |||||||||||||||
| Subtotal |
358 | 347 | 433 | 782 | 1,062 | |||||||||||||||
| Interest on deposits |
484 | 457 | 659 | 1,229 | 1,653 | |||||||||||||||
| Total |
$ | 842 | $ | 804 | $ | 1,092 | $ | 2,011 | $ | 2,715 | ||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||||
| Excluding interest on deposits |
5.85 | x | 5.52 | x | 5.21 | x | 1.72 | x | 2.74 | x | ||||||||||
| Including interest on deposits |
3.06 | 2.95 | 2.67 | 1.28 | 1.68 | |||||||||||||||