COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
Published on February 29, 2008
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 |
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 and preferred stock dividends excluding interest on deposits |
1,268 | 842 | 663 | 358 | 347 | |||||||||||||||
| Less: |
||||||||||||||||||||
| Minority interest in pretax income of subsidiaries that have not incurred fixed charges |
101 | 33 | 20 | 10 | 32 | |||||||||||||||
| Interest capitalized |
||||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
| 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 and preferred stock dividends |
||||||||||||||||||||
| 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 | |||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
1,268 | 842 | 663 | 358 | 347 | |||||||||||||||
| Interest on deposits |
2,053 | 1,590 | 981 | 484 | 457 | |||||||||||||||
| Total fixed charges and preferred stock dividends |
$ | 3,321 | $ | 2,432 | $ | 1,644 | $ | 842 | $ | 804 | ||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||||
| Excluding interest on deposits |
2.44 | x | 5.63 | x | 3.93 | x | 5.84 | x | 5.52 | 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. |