EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (1)
| Dollars in millions |
Six Months Ended June 30, 2016 |
Year Ended December 31 | ||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||
| 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 |
$ | 2,256 | $ | 4,860 | $ | 4,993 | $ | 5,148 | $ | 3,594 | $ | 3,785 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
162 | 310 | 275 | 242 | 216 | 198 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
490 | 796 | 734 | 664 | 853 | 951 | ||||||||||||||||||
| Less: |
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| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
44 | 93 | 96 | 112 | 137 | 154 | ||||||||||||||||||
| Interest capitalized |
1 | 1 | ||||||||||||||||||||||
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| Earnings excluding interest on deposits |
2,864 | 5,872 | 5,905 | 5,942 | 4,526 | 4,780 | ||||||||||||||||||
| Interest on deposits |
209 | 403 | 325 | 344 | 386 | 668 | ||||||||||||||||||
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| Total earnings |
$ | 3,073 | $ | 6,275 | 6,230 | 6,286 | 4,912 | 5,448 | ||||||||||||||||
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| Fixed charges |
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| Interest on borrowed funds |
$ | 416 | $ | 640 | $ | 581 | $ | 516 | $ | 696 | $ | 791 | ||||||||||||
| Interest component of rentals |
74 | 153 | 152 | 148 | 145 | 125 | ||||||||||||||||||
| Amortization of notes and debentures |
2 | 12 | 35 | |||||||||||||||||||||
| Interest capitalized |
1 | 1 | ||||||||||||||||||||||
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| Fixed charges excluding interest on deposits |
490 | 796 | 734 | 664 | 853 | 951 | ||||||||||||||||||
| Interest on deposits |
209 | 403 | 325 | 344 | 386 | 668 | ||||||||||||||||||
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| Total fixed charges |
$ | 699 | $ | 1,199 | $ | 1,059 | $ | 1,008 | $ | 1,239 | $ | 1,619 | ||||||||||||
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| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
5.84 | x | 7.38 | x | 8.04 | x | 8.95 | x | 5.31 | x | 5.03 | x | ||||||||||||
| Including interest on deposits |
4.40 | 5.23 | 5.88 | 6.24 | 3.96 | 3.37 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |