COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES & PREFERRED DIVIDENDS
Published on March 1, 2007
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 |
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 and preferred stock dividends excluding interest on deposits |
842 | 663 | 358 | 347 | 433 | |||||||||||||||
| Subtotal |
4,742 | 2,605 | 2,093 | 1,915 | 2,254 | |||||||||||||||
| Interest on deposits |
1,590 | 981 | 484 | 457 | 659 | |||||||||||||||
| Total |
$ | 6,332 | $ | 3,586 | $ | 2,577 | $ | 2,372 | $ | 2,913 | ||||||||||
| 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 | ||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
| Subtotal |
842 | 663 | 358 | 347 | 433 | |||||||||||||||
| Interest on deposits |
1,590 | 981 | 484 | 457 | 659 | |||||||||||||||
| Total |
$ | 2,432 | $ | 1,644 | $ | 842 | $ | 804 | $ | 1,092 | ||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||||
| Excluding interest on deposits |
5.63 | x | 3.93 | x | 5.85 | x | 5.52 | x | 5.2 | 1x | ||||||||||
| 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. |