EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges and Preferred Stock Dividends (1)
| Nine Months Ended | Year Ended December 31 | |||||||||||||||||||||||
| Dollars in millions | September 30, 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||
| Earnings |
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| Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
$ | 1,450 | $ | 1,806 | $ | 3,913 | $ | 1,962 | $ | 1,745 | $ | 1,600 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
118 | 124 | 20 | |||||||||||||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
841 | 1,268 | 842 | 663 | 358 | 347 | ||||||||||||||||||
| Less: |
||||||||||||||||||||||||
| Minority interest in pretax income of subsidiaries that have not incurred fixed charges |
91 | 101 | 33 | 20 | 10 | 32 | ||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
| Earnings excluding interest on deposits |
2,317 | 3,096 | 4,741 | 2,604 | 2,092 | 1,914 | ||||||||||||||||||
| Interest on deposits |
1,152 | 2,053 | 1,590 | 981 | 484 | 457 | ||||||||||||||||||
| Total earnings |
$ | 3,469 | $ | 5,149 | $ | 6,331 | $ | 3,585 | $ | 2,576 | $ | 2,371 | ||||||||||||
| Fixed charges and preferred stock dividends |
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| Interest on borrowed funds |
$ | 787 | $ | 1,197 | $ | 777 | $ | 599 | $ | 298 | $ | 258 | ||||||||||||
| Interest component of rentals |
53 | 69 | 64 | 63 | 58 | 59 | ||||||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | |||||||||||||||||||||
| Distributions on mandatorily redeemable capital securities of subsidiary trusts |
28 | |||||||||||||||||||||||
| Preferred stock dividend requirements |
1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
841 | 1,268 | 842 | 663 | 358 | 347 | ||||||||||||||||||
| Interest on deposits |
1,152 | 2,053 | 1,590 | 981 | 484 | 457 | ||||||||||||||||||
| Total fixed charges and preferred stock dividends |
$ | 1,993 | $ | 3,321 | $ | 2,432 | $ | 1,644 | $ | 842 | $ | 804 | ||||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
||||||||||||||||||||||||
| Excluding interest on deposits |
2.76 | x | 2.44 | x | 5.63 | x | 3.93 | x | 5.84 | x | 5.52 | x | ||||||||||||
| Including interest on deposits |
1.74 | 1.55 | 2.60 | 2.18 | 3.06 | 2.95 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |