EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges
| Dollars in millions |
Three Months Ended March 31, 2005 |
Year Ended | ||||||||||||||||
| 2004 |
2003 |
2002 |
2001 |
2000 | ||||||||||||||
| Earnings |
||||||||||||||||||
| Pre-tax income from continuing operations before adjustments for minority interest (1) |
$ | 468 | $ | 1,735 | $ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | ||||||
| Fixed charges excluding interest on deposits |
131 | 357 | 346 | 432 | 762 | 1,032 | ||||||||||||
| Subtotal |
599 | 2,092 | 1,914 | 2,253 | 1,326 | 2,880 | ||||||||||||
| Interest on deposits |
182 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||
| Total |
$ | 781 | $ | 2,576 | $ | 2,371 | $ | 2,912 | $ | 2,555 | $ | 4,533 | ||||||
| Fixed charges |
||||||||||||||||||
| Interest on borrowed funds |
$ | 116 | $ | 298 | $ | 258 | $ | 315 | $ | 645 | $ | 914 | ||||||
| Interest component of rentals |
15 | 58 | 59 | 58 | 53 | 50 | ||||||||||||
| Amortization of notes and debentures |
0 | 1 | 1 | 1 | 1 | 1 | ||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
0 | 0 | 28 | 58 | 63 | 67 | ||||||||||||
| Subtotal |
131 | 357 | 346 | 432 | 762 | 1,032 | ||||||||||||
| Interest on deposits |
182 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||
| Total |
$ | 313 | $ | 841 | $ | 803 | $ | 1,091 | $ | 1,991 | $ | 2,685 | ||||||
| Ratio of earnings to fixed charges |
||||||||||||||||||
| Excluding interest on deposits |
4.57 x | 5.86 x | 5.53 x | 5.22 x | 1.74 x | 2.79 x | ||||||||||||
| Including interest on deposits |
2.50 | 3.06 | 2.95 | 2.67 | 1.28 | 1.69 | ||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |