COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
Published on March 15, 2006
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 |
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 and preferred stock dividends excluding interest on deposits |
663 | 358 | 347 | 433 | 782 | |||||||||||||||
| Subtotal |
2,605 | 2,093 | 1,915 | 2,254 | 1,346 | |||||||||||||||
| Interest on deposits |
981 | 484 | 457 | 659 | 1,229 | |||||||||||||||
| Total |
$ | 3,586 | $ | 2,577 | $ | 2,372 | $ | 2,913 | $ | 2,575 | ||||||||||
| 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 | |||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 20 | |||||||||||||||
| Subtotal |
663 | 358 | 347 | 433 | 782 | |||||||||||||||
| Interest on deposits |
981 | 484 | 457 | 659 | 1,229 | |||||||||||||||
| Total |
$ | 1,644 | $ | 842 | $ | 804 | $ | 1,092 | $ | 2,011 | ||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||||
| Excluding interest on deposits |
3.93 | x | 5.85 | x | 5.52 | x | 5.21 | x | 1.72 | 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. |