EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
| Dollars in millions |
Three Months Ended March 31, 2005 |
2004 |
Year Ended | |||||||||||||||
| 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 and preferred stock dividends excluding interest on deposits |
131 | 358 | 347 | 433 | 782 | 1,062 | ||||||||||||
| Subtotal |
599 | 2,093 | 1,915 | 2,254 | 1,346 | 2,910 | ||||||||||||
| Interest on deposits |
182 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||
| Total |
$ | 781 | $ | 2,577 | $ | 2,372 | $ | 2,913 | $ | 2,575 | $ | 4,563 | ||||||
| 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 | ||||||||||||
| Preferred stock dividend requirements |
0 | 1 | 1 | 1 | 20 | 30 | ||||||||||||
| Subtotal |
131 | 358 | 347 | 433 | 782 | 1,062 | ||||||||||||
| Interest on deposits |
182 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||
| Total |
$ | 313 | $ | 842 | $ | 804 | $ | 1,092 | $ | 2,011 | $ | 2,715 | ||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||
| Excluding interest on deposits |
4.57 x | 5.85 x | 5.52 x | 5.21 x | 1.72 x | 2.74 x | ||||||||||||
| Including interest on deposits |
2.50 | 3.06 | 2.95 | 2.67 | 1.28 | 1.68 | ||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |