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, 2014 |
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||
| 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 |
$ | 3,781 | $ | 5,148 | $ | 3,594 | $ | 3,785 | $ | 3,680 | $ | 3,129 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
206 | 242 | 216 | 198 | 167 | 171 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
542 | 664 | 853 | 951 | 1,092 | 1,396 | ||||||||||||||||||
| Less: |
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| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
69 | 112 | 137 | 154 | 148 | 126 | ||||||||||||||||||
| Interest capitalized |
1 | 1 | 3 | |||||||||||||||||||||
| Earnings excluding interest on deposits |
4,459 | 5,942 | 4,526 | 4,780 | 4,790 | 4,567 | ||||||||||||||||||
| Interest on deposits |
239 | 344 | 386 | 668 | 963 | 1,741 | ||||||||||||||||||
| Total earnings |
$ | 4,698 | $ | 6,286 | 4,912 | 5,448 | 5,753 | 6,308 | ||||||||||||||||
| Fixed charges |
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| Interest on borrowed funds |
$ | 427 | $ | 516 | $ | 696 | $ | 791 | $ | 918 | $ | 1,225 | ||||||||||||
| Interest component of rentals |
114 | 148 | 145 | 125 | 134 | 131 | ||||||||||||||||||
| Amortization of notes and debentures |
12 | 35 | 39 | 37 | ||||||||||||||||||||
| Interest capitalized |
1 | 1 | 3 | |||||||||||||||||||||
| Fixed charges excluding interest on deposits |
542 | 664 | 853 | 951 | 1,092 | 1,396 | ||||||||||||||||||
| Interest on deposits |
239 | 344 | 386 | 668 | 963 | 1,741 | ||||||||||||||||||
| Total fixed charges |
$ | 781 | $ | 1,008 | $ | 1,239 | $ | 1,619 | $ | 2,055 | $ | 3,137 | ||||||||||||
| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
8.23 | x | 8.95 | x | 5.31 | x | 5.03 | x | 4.39 | x | 3.27 | x | ||||||||||||
| Including interest on deposits |
6.02 | 6.24 | 3.96 | 3.37 | 2.80 | 2.01 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |