The PNC Financial Services Group, Inc. and Subsidiaries   EXHIBIT 12.1

Computation of Ratio of Earnings

to Fixed Charges

 

 

 

    

Three Months

Ended March 31, 2006

     Year Ended December 31  

Dollars in millions

              2005             2004             2003             2002             2001  

Earnings

             

Pretax income from continuing operations before
adjustments for minority interest (1)

    $540     $1,942     $1,735     $1,568     $1,821     $564  

Fixed charges excluding interest on deposits

    199     662     357     346     432     762  
                                    

Subtotal

    739     2,604     2,092     1,914     2,253     1,326  

Interest on deposits

    327     981     484     457     659     1,229  
                                    

Total

    $1,066     $3,585     $2,576     $2,371     $2,912     $2,555  
                                    

Fixed charges

             

Interest on borrowed funds

    $183     $599     $298     $258     $315     $645  

Interest component of rentals

    16     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

    199     662     357     346     432     762  

Interest on deposits

    327     981     484     457     659     1,229  
                                    

Total

    $526     $1,643     $841     $803     $1,091     $1,991  
                                    

Ratio of earnings to fixed charges

             

Excluding interest on deposits

    3.71   x   3.93   x   5.86   x   5.53   x   5.22   x   1.74   x

Including interest on deposits

 

    2.03

 

  

  2.18

 

  

  3.06

 

  

  2.95

 

  

  2.67

 

  

  1.28

 

  

(1) As defined in Item 503(d) of Regulation S-K.