COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Published on March 1, 2011
EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges (1)
| Year Ended December 31 | ||||||||||||||||||||
| Dollars in millions |
2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
| Earnings |
||||||||||||||||||||
| Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees |
$ | 3,680 | $ | 3,135 | $ | 946 | $ | 1,612 | $ | 3,737 | ||||||||||
| Add: |
||||||||||||||||||||
| Distributed income of equity investees |
167 | 171 | 157 | 124 | 20 | |||||||||||||||
| Fixed charges excluding interest on deposits |
1,092 | 1,396 | 1,026 | 1,208 | 778 | |||||||||||||||
| Less: |
||||||||||||||||||||
| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
148 | 126 | 122 | 101 | 33 | |||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||
| Earnings excluding interest on deposits |
4,790 | 4,573 | 2,007 | 2,843 | 4,502 | |||||||||||||||
| Interest on deposits |
963 | 1,741 | 1,485 | 2,053 | 1,590 | |||||||||||||||
| Total earnings |
$ | 5,753 | $ | 6,314 | $ | 3,492 | $ | 4,896 | $ | 6,092 | ||||||||||
| Fixed charges |
||||||||||||||||||||
| Interest on borrowed funds |
$ | 918 | $ | 1,225 | $ | 961 | $ | 1,143 | $ | 719 | ||||||||||
| Interest component of rentals |
134 | 131 | 64 | 64 | 59 | |||||||||||||||
| Amortization of notes and debentures |
39 | 37 | 1 | 1 | ||||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
1,092 | 1,396 | 1,026 | 1,208 | 778 | |||||||||||||||
| Interest on deposits |
963 | 1,741 | 1,485 | 2,053 | 1,590 | |||||||||||||||
| Total fixed charges |
$ | 2,055 | $ | 3,137 | $ | 2,511 | $ | 3,261 | $ | 2,368 | ||||||||||
| Ratio of earnings to fixed charges |
||||||||||||||||||||
| Excluding interest on deposits |
4.39 | x | 3.28 | x | 1.96 | x | 2.35 | x | 5.79 | x | ||||||||||
| Including interest on deposits |
2.80 | 2.01 | 1.39 | 1.50 | 2.57 | |||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |