EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges (1)
| Dollars in millions | Nine months ended September 30, 2010 |
Year Ended December 31 | ||||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||
| Earnings |
||||||||||||||||||||||||
| Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees |
$ | 2,675 | $ | 3,135 | $ | 946 | $ | 1,612 | $ | 3,737 | $ | 1,801 | ||||||||||||
| Add: |
||||||||||||||||||||||||
| Distributed income of equity investees |
131 | 171 | 157 | 124 | 20 | |||||||||||||||||||
| Fixed charges excluding interest on deposits |
794 | 1,396 | 1,026 | 1,208 | 778 | 610 | ||||||||||||||||||
| Less: |
||||||||||||||||||||||||
| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
111 | 126 | 122 | 101 | 33 | 20 | ||||||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||||||
| Earnings excluding interest on deposits |
3,488 | 4,573 | 2,007 | 2,843 | 4,502 | 2,391 | ||||||||||||||||||
| Interest on deposits |
758 | 1,741 | 1,485 | 2,053 | 1,590 | 981 | ||||||||||||||||||
| Total earnings |
$ | 4,246 | $ | 6,314 | $ | 3,492 | $ | 4,896 | $ | 6,092 | $ | 3,372 | ||||||||||||
| Fixed charges |
||||||||||||||||||||||||
| Interest on borrowed funds |
$ | 663 | $ | 1,225 | $ | 961 | $ | 1,143 | $ | 719 | $ | 552 | ||||||||||||
| Interest component of rentals |
101 | 131 | 64 | 64 | 59 | 58 | ||||||||||||||||||
| Amortization of notes and debentures |
29 | 37 | 1 | 1 | ||||||||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||||||
| Fixed charges excluding interest on deposits |
794 | 1,396 | 1,026 | 1,208 | 778 | 610 | ||||||||||||||||||
| Interest on deposits |
758 | 1,741 | 1,485 | 2,053 | 1,590 | 981 | ||||||||||||||||||
| Total fixed charges |
$ | 1,552 | $ | 3,137 | $ | 2,511 | $ | 3,261 | $ | 2,368 | $ | 1,591 | ||||||||||||
| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
4.39 | x | 3.28 | x | 1.96 | x | 2.35 | x | 5.79 | x | 3.92 | x | ||||||||||||
| Including interest on deposits |
2.74 | 2.01 | 1.39 | 1.50 | 2.57 | 2.12 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |