COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Published on March 1, 2007
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 |
2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
| Earnings |
||||||||||||||||||||
| Pretax income from continuing operations before adjustments for minority interest (1) |
$ | 3,930 | $ | 1,942 | $ | 1,735 | $ | 1,568 | $ | 1,821 | ||||||||||
| Less: |
||||||||||||||||||||
| Income or loss from equity method investees |
50 | |||||||||||||||||||
| Add: |
||||||||||||||||||||
| Distributed income of equity method investees |
20 | |||||||||||||||||||
| Fixed charges excluding interest on deposits |
841 | 662 | 357 | 346 | 432 | |||||||||||||||
| Subtotal |
4,741 | 2,604 | 2,092 | 1,914 | 2,253 | |||||||||||||||
| Interest on deposits |
1,590 | 981 | 484 | 457 | 659 | |||||||||||||||
| Total |
$ | 6,331 | $ | 3,585 | $ | 2,576 | $ | 2,371 | $ | 2,912 | ||||||||||
| Fixed charges |
||||||||||||||||||||
| Interest on borrowed funds |
$ | 777 | $ | 599 | $ | 298 | $ | 258 | $ | 315 | ||||||||||
| Interest component of rentals |
64 | 63 | 58 | 59 | 58 | |||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | |||||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
28 | 58 | ||||||||||||||||||
| Subtotal |
841 | 662 | 357 | 346 | 432 | |||||||||||||||
| Interest on deposits |
1,590 | 981 | 484 | 457 | 659 | |||||||||||||||
| Total |
$ | 2,431 | $ | 1,643 | $ | 841 | $ | 803 | $ | 1,091 | ||||||||||
| Ratio of earnings to fixed charges |
||||||||||||||||||||
| Excluding interest on deposits |
5.6 | 4x | 3.93 | x | 5.86 | x | 5.53 | x | 5.22 | x | ||||||||||
| Including interest on deposits |
2.60 | 2.18 | 3.06 | 2.95 | 2.67 | |||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |