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 |
2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
| Earnings |
||||||||||||||||||||
| Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
$ | 1,806 | $ | 3,913 | $ | 1,962 | $ | 1,745 | $ | 1,600 | ||||||||||
| Add: |
||||||||||||||||||||
| Distributed income of equity investees |
124 | 20 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
1,267 | 841 | 662 | 357 | 346 | |||||||||||||||
| Less: |
||||||||||||||||||||
| Minority interest in pretax income of subsidiaries that have not incurred fixed charges |
101 | 33 | 20 | 10 | 32 | |||||||||||||||
| Interest capitalized |
||||||||||||||||||||
| Earnings excluding interest on deposits |
3,096 | 4,741 | 2,604 | 2,092 | 1,914 | |||||||||||||||
| Interest on deposits |
2,053 | 1,590 | 981 | 484 | 457 | |||||||||||||||
| Total earnings |
$ | 5,149 | $ | 6,331 | $ | 3,585 | $ | 2,576 | $ | 2,371 | ||||||||||
| Fixed charges |
||||||||||||||||||||
| Interest on borrowed funds |
$ | 1,197 | $ | 777 | $ | 599 | $ | 298 | $ | 258 | ||||||||||
| Interest component of rentals |
69 | 64 | 63 | 58 | 59 | |||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | |||||||||||||||||
| Interest capitalized |
||||||||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
28 | |||||||||||||||||||
| Fixed charges excluding interest on deposits |
1,267 | 841 | 662 | 357 | 346 | |||||||||||||||
| Interest on deposits |
2,053 | 1,590 | 981 | 484 | 457 | |||||||||||||||
| Total fixed charges |
$ | 3,320 | $ | 2,431 | $ | 1,643 | $ | 841 | $ | 803 | ||||||||||
| Ratio of earnings to fixed charges |
||||||||||||||||||||
| Excluding interest on deposits |
2.44 | x | 5.64 | x | 3.93 | x | 5.86 | x | 5.53 | x | ||||||||||
| Including interest on deposits |
1.55 | 2.60 | 2.18 | 3.06 | 2.95 | |||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |