EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges
| Nine Months Ended September 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 |
$ | 1,668 | $ | 3,913 | $ | 1,962 | $ | 1,745 | $ | 1,600 | $ | 1,858 | |||||||||||
| Add: |
|||||||||||||||||||||||
| Distributed income of equity investees |
98 | 20 | |||||||||||||||||||||
| Fixed charges excluding interest on deposits |
895 | 841 | 662 | 357 | 346 | 432 | |||||||||||||||||
| Less: |
|||||||||||||||||||||||
| Minority interest in pretax income of subsidiaries that have not incurred fixed charges |
73 | 33 | 20 | 10 | 32 | 37 | |||||||||||||||||
| Interest capitalized |
2 | ||||||||||||||||||||||
| Earnings excluding interest on deposits |
2,586 | 4,741 | 2,604 | 2,092 | 1,914 | 2,253 | |||||||||||||||||
| Interest on deposits |
1,531 | 1,590 | 981 | 484 | 457 | 659 | |||||||||||||||||
| Total earnings |
$ | 4,117 | $ | 6,331 | $ | 3,585 | $ | 2,576 | $ | 2,371 | $ | 2,912 | |||||||||||
| Fixed charges |
|||||||||||||||||||||||
| Interest on borrowed funds |
$ | 842 | $ | 777 | $ | 599 | $ | 298 | $ | 258 | $ | 315 | |||||||||||
| Interest component of rentals |
50 | 64 | 63 | 58 | 59 | 58 | |||||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | 1 | |||||||||||||||||||
| Interest capitalized |
2 | ||||||||||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
28 | 58 | |||||||||||||||||||||
| Fixed charges excluding interest on deposits |
895 | 841 | 662 | 357 | 346 | 432 | |||||||||||||||||
| Interest on deposits |
1,531 | 1,590 | 981 | 484 | 457 | 659 | |||||||||||||||||
| Total fixed charges |
$ | 2,426 | $ | 2,431 | $ | 1,643 | $ | 841 | $ | 803 | $ | 1,091 | |||||||||||
| Ratio of earnings to fixed charges |
|||||||||||||||||||||||
| Excluding interest on deposits |
2.89x | 5.64 | x | 3.93 | x | 5.86 | x | 5.53 | x | 5.22 | x | ||||||||||||
| Including interest on deposits |
1.70 | 2.60 | 2.18 | 3.06 | 2.95 | 2.67 | |||||||||||||||||