| The PNC Financial Services Group, Inc. and Subsidiaries | EXHIBIT 12.1 | |
| Computation of Ratio of Earnings | ||
| to Fixed Charges (1) |
| Year Ended December 31 | ||||||||||||||||||||
| Dollars in millions |
2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
| Earnings |
||||||||||||||||||||
| Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees |
$ | 3,785 | $ | 3,680 | $ | 3,135 | $ | 946 | $ | 1,612 | ||||||||||
| Add: |
||||||||||||||||||||
| Distributed income of equity investees |
198 | 167 | 171 | 157 | 124 | |||||||||||||||
| Fixed charges excluding interest on deposits |
951 | 1,092 | 1,396 | 1,026 | 1,208 | |||||||||||||||
| Less: |
||||||||||||||||||||
| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
154 | 148 | 126 | 122 | 101 | |||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Earnings excluding interest on deposits |
4,780 | 4,790 | 4,573 | 2,007 | 2,843 | |||||||||||||||
| Interest on deposits |
668 | 963 | 1,741 | 1,485 | 2,053 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total earnings |
$ | 5,448 | $ | 5,753 | $ | 6,314 | $ | 3,492 | $ | 4,896 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Fixed charges |
||||||||||||||||||||
| Interest on borrowed funds |
$ | 791 | $ | 918 | $ | 1,225 | $ | 961 | $ | 1,143 | ||||||||||
| Interest component of rentals |
125 | 134 | 131 | 64 | 64 | |||||||||||||||
| Amortization of notes and debentures |
35 | 39 | 37 | 1 | 1 | |||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Fixed charges excluding interest on deposits |
951 | 1,092 | 1,396 | 1,026 | 1,208 | |||||||||||||||
| Interest on deposits |
668 | 963 | 1,741 | 1,485 | 2,053 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total fixed charges |
$ | 1,619 | $ | 2,055 | $ | 3,137 | $ | 2,511 | $ | 3,261 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Ratio of earnings to fixed charges |
||||||||||||||||||||
| Excluding interest on deposits |
5.03 | x | 4.39 | x | 3.28 | x | 1.96 | x | 2.35 | |||||||||||
| Including interest on deposits |
3.37 | 2.80 | 2.01 | 1.39 | 1.50 | |||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |