EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (1)
| Dollars in millions |
Nine Months Ended |
Year Ended December 31 | ||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
| 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 |
$ | 3,653 | $ | 4,993 | $ | 5,148 | $ | 3,594 | $ | 3,785 | $ | 3,680 | ||||||||||||
| Add: |
||||||||||||||||||||||||
| Distributed income of equity investees |
232 | 275 | 242 | 216 | 198 | 167 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
599 | 734 | 664 | 853 | 951 | 1,092 | ||||||||||||||||||
| Less: |
||||||||||||||||||||||||
| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
71 | 96 | 112 | 137 | 154 | 148 | ||||||||||||||||||
| Interest capitalized |
1 | 1 | 1 | |||||||||||||||||||||
| Earnings excluding interest on deposits |
4,412 | 5,905 | 5,942 | 4,526 | 4,780 | 4,790 | ||||||||||||||||||
| Interest on deposits |
297 | 325 | 344 | 386 | 668 | 963 | ||||||||||||||||||
| Total earnings |
$ | 4,709 | $ | 6,230 | $ | 6,286 | 4,912 | 5,448 | 5,753 | |||||||||||||||
| Fixed charges |
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| Interest on borrowed funds |
$ | 482 | $ | 581 | $ | 516 | $ | 696 | $ | 791 | $ | 918 | ||||||||||||
| Interest component of rentals |
116 | 152 | 148 | 145 | 125 | 134 | ||||||||||||||||||
| Amortization of notes and debentures |
12 | 35 | 39 | |||||||||||||||||||||
| Interest capitalized |
1 | 1 | 1 | |||||||||||||||||||||
| Fixed charges excluding interest on deposits |
599 | 734 | 664 | 853 | 951 | 1,092 | ||||||||||||||||||
| Interest on deposits |
297 | 325 | 344 | 386 | 668 | 963 | ||||||||||||||||||
| Total fixed charges |
$ | 896 | $ | 1,059 | $ | 1,008 | $ | 1,239 | $ | 1,619 | $ | 2,055 | ||||||||||||
| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
7.37 | x | 8.04 | x | 8.95 | x | 5.31 | x | 5.03 | x | 4.39 | x | ||||||||||||
| Including interest on deposits |
5.26 | 5.88 | 6.24 | 3.96 | 3.37 | 2.80 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |