EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges (1)
| Nine months ended September 30, 2009 |
Year Ended December 31 | |||||||||||||||||||||||
| Dollars in millions | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
| Earnings |
||||||||||||||||||||||||
| Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees |
$ | 1,622 | $ | 1,127 | $ | 1,806 | $ | 3,913 | $ | 1,962 | $ | 1,745 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
130 | 157 | 124 | 20 | ||||||||||||||||||||
| Fixed charges excluding interest on deposits |
1,138 | 1,076 | 1,267 | 841 | 662 | 357 | ||||||||||||||||||
| Less: |
||||||||||||||||||||||||
| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
92 | 122 | 101 | 33 | 20 | 10 | ||||||||||||||||||
| Interest capitalized |
2 | |||||||||||||||||||||||
| Earnings excluding interest on deposits |
2,796 | 2,238 | 3,096 | 4,741 | 2,604 | 2,092 | ||||||||||||||||||
| Interest on deposits |
1,407 | 1,485 | 2,053 | 1,590 | 981 | 484 | ||||||||||||||||||
| Total earnings |
$ | 4,203 | $ | 3,723 | $ | 5,149 | $ | 6,331 | $ | 3,585 | $ | 2,576 | ||||||||||||
| Fixed charges |
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| Interest on borrowed funds |
$ | 1,033 | $ | 1,004 | $ | 1,197 | $ | 777 | $ | 599 | $ | 298 | ||||||||||||
| Interest component of rentals |
103 | 71 | 69 | 64 | 63 | 58 | ||||||||||||||||||
| Amortization of notes and debentures |
1 | 1 | 1 | |||||||||||||||||||||
| Interest capitalized |
2 | |||||||||||||||||||||||
| Fixed charges excluding interest on deposits |
1,138 | 1,076 | 1,267 | 841 | 662 | 357 | ||||||||||||||||||
| Interest on deposits |
1,407 | 1,485 | 2,053 | 1,590 | 981 | 484 | ||||||||||||||||||
| Total fixed charges |
$ | 2,545 | $ | 2,561 | $ | 3,320 | $ | 2,431 | $ | 1,643 | $ | 841 | ||||||||||||
| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
2.46 | x | 2.08 | x | 2.44 | x | 5.64 | x | 3.93 | x | 5.86 | x | ||||||||||||
| Including interest on deposits |
1.65 | 1.45 | 1.55 | 2.60 | 2.18 | 3.06 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |