EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges
| Year Ended December 31 | ||||||||||||||||||||
| Dollars in millions |
2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||
| Earnings |
||||||||||||||||||||
| Pretax income from continuing operations before adjustments for minority interest (1) |
$ | 1,942 | $ | 1,735 | $ | 1,568 | $ | 1,821 | $ | 564 | ||||||||||
| Fixed charges excluding interest on deposits |
662 | 357 | 346 | 432 | 762 | |||||||||||||||
| Subtotal |
2,604 | 2,092 | 1,914 | 2,253 | 1,326 | |||||||||||||||
| Interest on deposits |
981 | 484 | 457 | 659 | 1,229 | |||||||||||||||
| Total |
$ | 3,585 | $ | 2,576 | $ | 2,371 | $ | 2,912 | $ | 2,555 | ||||||||||
| Fixed charges |
||||||||||||||||||||
| Interest on borrowed funds |
$ | 599 | $ | 298 | $ | 258 | $ | 315 | $ | 645 | ||||||||||
| Interest component of rentals |
63 | 58 | 59 | 58 | 53 | |||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | 1 | ||||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
28 | 58 | 63 | |||||||||||||||||
| Subtotal |
662 | 357 | 346 | 432 | 762 | |||||||||||||||
| Interest on deposits |
981 | 484 | 457 | 659 | 1,229 | |||||||||||||||
| Total |
$ | 1,643 | $ | 841 | $ | 803 | $ | 1,091 | $ | 1,991 | ||||||||||
| Ratio of earnings to fixed charges |
||||||||||||||||||||
| Excluding interest on deposits |
3.93 | x | 5.86 | x | 5.53 | x | 5.22 | x | 1.74 | x | ||||||||||
| Including interest on deposits |
2.18 | 3.06 | 2.95 | 2.67 | 1.28 | |||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |