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 | Nine months ended September 30, 2013 |
2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||
| 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 |
$ | 3,525 | $ | 3,189 | $ | 3,785 | $ | 3,680 | $ | 3,135 | $ | 946 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
181 | 216 | 198 | 167 | 171 | 157 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
495 | 853 | 951 | 1,092 | 1,396 | 1,026 | ||||||||||||||||||
| Less: |
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| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
86 | 137 | 154 | 148 | 126 | 122 | ||||||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||||||
| Earnings excluding interest on deposits |
4,115 | 4,121 | 4,780 | 4,790 | 4,573 | 2,007 | ||||||||||||||||||
| Interest on deposits |
263 | 386 | 668 | 963 | 1,741 | 1,485 | ||||||||||||||||||
| Total earnings |
$ | 4,378 | $ | 4,507 | $ | 5,448 | $ | 5,753 | $ | 6,314 | $ | 3,492 | ||||||||||||
| Fixed charges |
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| Interest on borrowed funds |
$ | 384 | $ | 696 | $ | 791 | $ | 918 | $ | 1,225 | $ | 961 | ||||||||||||
| Interest component of rentals |
111 | 145 | 125 | 134 | 131 | 64 | ||||||||||||||||||
| Amortization of notes and debentures |
12 | 35 | 39 | 37 | 1 | |||||||||||||||||||
| Interest capitalized |
1 | 3 | ||||||||||||||||||||||
| Fixed charges excluding interest on deposits |
495 | 853 | 951 | 1,092 | 1,396 | 1,026 | ||||||||||||||||||
| Interest on deposits |
263 | 386 | 668 | 963 | 1,741 | 1,485 | ||||||||||||||||||
| Total fixed charges |
$ | 758 | $ | 1,239 | $ | 1,619 | $ | 2,055 | $ | 3,137 | $ | 2,511 | ||||||||||||
| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
8.31 | x | 4.83 | x | 5.03 | x | 4.39 | x | 3.28 | x | 1.96 | x | ||||||||||||
| Including interest on deposits |
5.78 | 3.64 | 3.37 | 2.80 | 2.01 | 1.39 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |