COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES & PREFERRED STOCK DIVIDENDS
Published on August 8, 2007
EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends
| Six Months Ended June 30, 2007 |
Year Ended December 31 | |||||||||||||||||||||||
| Dollars in millions |
2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
| Earnings |
||||||||||||||||||||||||
| Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
$ | 1,153 | $ | 3,913 | $ | 1,962 | $ | 1,745 | $ | 1,600 | $ | 1,858 | ||||||||||||
| Add: |
||||||||||||||||||||||||
| Distributed income of equity investees |
58 | 20 | ||||||||||||||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
541 | 842 | 663 | 358 | 347 | 433 | ||||||||||||||||||
| Less: |
||||||||||||||||||||||||
| Minority interest in pretax income of subsidiaries that have not incurred fixed charges |
43 | 33 | 20 | 10 | 32 | 37 | ||||||||||||||||||
| Interest capitalized |
1 | |||||||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 1 | |||||||||||||||||||
| Earnings excluding interest on deposits |
1,708 | 4,741 | 2,604 | 2,092 | 1,914 | 2,253 | ||||||||||||||||||
| Interest on deposits |
1,000 | 1,590 | 981 | 484 | 457 | 659 | ||||||||||||||||||
| Total earnings |
$ | 2,708 | $ | 6,331 | $ | 3,585 | $ | 2,576 | $ | 2,371 | $ | 2,912 | ||||||||||||
| Fixed charges and preferred stock dividends |
||||||||||||||||||||||||
| Interest on borrowed funds |
$ | 508 | $ | 777 | $ | 599 | $ | 298 | $ | 258 | $ | 315 | ||||||||||||
| Interest component of rentals |
32 | 64 | 63 | 58 | 59 | 58 | ||||||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | |||||||||||||||||||||
| Interest capitalized |
1 | |||||||||||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
28 | 58 | ||||||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 1 | |||||||||||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
541 | 842 | 663 | 358 | 347 | 433 | ||||||||||||||||||
| Interest on deposits |
1,000 | 1,590 | 981 | 484 | 457 | 659 | ||||||||||||||||||
| Total fixed charges and preferred stock dividends |
$ | 1,541 | $ | 2,432 | $ | 1,644 | $ | 842 | $ | 804 | $ | 1,092 | ||||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||||||||
| Excluding interest on deposits |
3.16 | x | 5.63 | x | 3.93 | x | 5.84 | x | 5.52 | x | 5.20 | x | ||||||||||||
| Including interest on deposits |
1.76 | 2.60 | 2.18 | 3.06 | 2.95 | 2.67 | ||||||||||||||||||