EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings
to Fixed Charges (1)
| Nine months ended | Year Ended December 31 | |||||||||||||||||||||||
| Dollars in millions |
September 30, 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
| Earnings |
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| Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees |
$ | 2,464 | $ | 3,785 | $ | 3,680 | $ | 3,135 | $ | 946 | $ | 1,612 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
162 | 198 | 167 | 171 | 157 | 124 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
664 | 951 | 1,092 | 1,396 | 1,026 | 1,208 | ||||||||||||||||||
| Less: |
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| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
106 | 154 | 148 | 126 | 122 | 101 | ||||||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||||||
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| Earnings excluding interest on deposits |
3,184 | 4,780 | 4,790 | 4,573 | 2,007 | 2,843 | ||||||||||||||||||
| Interest on deposits |
289 | 668 | 963 | 1,741 | 1,485 | 2,053 | ||||||||||||||||||
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| Total earnings |
$ | 3,473 | $ | 5,448 | $ | 5,753 | $ | 6,314 | $ | 3,492 | $ | 4,896 | ||||||||||||
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| Fixed charges |
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| Interest on borrowed funds |
$ | 546 | $ | 791 | $ | 918 | $ | 1,225 | $ | 961 | $ | 1,143 | ||||||||||||
| Interest component of rentals |
106 | 125 | 134 | 131 | 64 | 64 | ||||||||||||||||||
| Amortization of notes and debentures |
12 | 35 | 39 | 37 | 1 | 1 | ||||||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||||||
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| Fixed charges excluding interest on deposits |
664 | 951 | 1,092 | 1,396 | 1,026 | 1,208 | ||||||||||||||||||
| Interest on deposits |
289 | 668 | 963 | 1,741 | 1,485 | 2,053 | ||||||||||||||||||
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| Total fixed charges |
$ | 953 | $ | 1,619 | $ | 2,055 | $ | 3,137 | $ | 2,511 | $ | 3,261 | ||||||||||||
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| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
4.80x | 5.03x | 4.39x | 3.28x | 1.96x | 2.35x | ||||||||||||||||||
| Including interest on deposits |
3.64 | 3.37 | 2.80 | 2.01 | 1.39 | 1.50 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |