COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Published on August 5, 2005
EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges
| Dollars in millions |
Six Months Ended June 30, 2005 |
Year Ended |
||||||||||||||||||||||
|
2004 |
2003 |
2002 |
2001 |
2000 |
||||||||||||||||||||
| Earnings |
||||||||||||||||||||||||
| Pretax income from continuing operations before adjustments for minority interest (1) |
$ | 916 | $ | 1,735 | $ | 1,568 | $ | 1,821 | $ | 564 | $ | 1,848 | ||||||||||||
| Fixed charges excluding interest on deposits |
290 | 357 | 346 | 432 | 762 | 1,032 | ||||||||||||||||||
| Subtotal |
1,226 | 2,092 | 1,914 | 2,253 | 1,326 | 2,880 | ||||||||||||||||||
| Interest on deposits |
406 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||||||||
| Total |
$ | 1,612 | $ | 2,576 | $ | 2,371 | $ | 2,912 | $ | 2,555 | $ | 4,533 | ||||||||||||
| Fixed charges |
||||||||||||||||||||||||
| Interest on borrowed funds |
$ | 259 | $ | 298 | $ | 258 | $ | 315 | $ | 645 | $ | 914 | ||||||||||||
| Interest component of rentals |
31 | 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 |
290 | 357 | 346 | 432 | 762 | 1,032 | ||||||||||||||||||
| Interest on deposits |
406 | 484 | 457 | 659 | 1,229 | 1,653 | ||||||||||||||||||
| Total |
$ | 696 | $ | 841 | $ | 803 | $ | 1,091 | $ | 1,991 | $ | 2,685 | ||||||||||||
| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
4.16 | x | 5.86 | x | 5.53 | x | 5.22 | x | 1.74 | x | 2.79 | x | ||||||||||||
| Including interest on deposits |
2.32 | 3.06 | 2.95 | 2.67 | 1.28 | 1.69 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |