EXHIBIT 12.2
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends (1)
| Year Ended December 31 | ||||||||||||||||||||||||
| Dollars in millions |
Nine Months Ended September 30, 2016 |
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 |
$ | 3,436 | $ | 4,860 | $ | 4,993 | $ | 5,148 | $ | 3,594 | $ | 3,785 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
243 | 310 | 275 | 242 | 216 | 198 | ||||||||||||||||||
| Fixed charges and preferred stock dividends excluding interest on deposits |
991 | 1,134 | 1,091 | 1,028 | 1,125 | 1,037 | ||||||||||||||||||
| Less: |
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| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
62 | 93 | 96 | 112 | 137 | 154 | ||||||||||||||||||
| Interest capitalized |
1 | 1 | ||||||||||||||||||||||
| Preferred stock dividend requirements |
258 | 338 | 357 | 364 | 272 | 86 | ||||||||||||||||||
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| Earnings excluding interest on deposits |
4,350 | 5,872 | 5,905 | 5,942 | 4,526 | 4,780 | ||||||||||||||||||
| Interest on deposits |
316 | 403 | 325 | 344 | 386 | 668 | ||||||||||||||||||
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| Total earnings |
$ | 4,666 | $ | 6,275 | $ | 6,230 | $ | 6,286 | $ | 4,912 | $ | 5,448 | ||||||||||||
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| Fixed charges and preferred stock dividends |
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| Interest on borrowed funds |
$ | 621 | $ | 640 | $ | 581 | $ | 516 | $ | 696 | $ | 791 | ||||||||||||
| Interest component of rentals |
111 | 153 | 152 | 148 | 145 | 125 | ||||||||||||||||||
| Amortization of notes and debentures |
1 | 2 | 12 | 35 | ||||||||||||||||||||
| Interest capitalized |
1 | 1 | ||||||||||||||||||||||
| Preferred stock dividend requirements |
258 | 338 | 357 | 364 | 272 | 86 | ||||||||||||||||||
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| Fixed charges and preferred stock dividends excluding interest on deposits |
991 | 1,134 | 1,091 | 1,028 | 1,125 | 1,037 | ||||||||||||||||||
| Interest on deposits |
316 | 403 | 325 | 344 | 386 | 668 | ||||||||||||||||||
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| Total fixed charges and preferred stock dividends |
$ | 1,307 | $ | 1,537 | $ | 1,416 | $ | 1,372 | $ | 1,511 | $ | 1,705 | ||||||||||||
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| Ratio of earnings to fixed charges and preferred stock dividends |
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| Excluding interest on deposits |
4.39x | 5.18x | 5.41x | 5.78x | 4.02x | 4.61x | ||||||||||||||||||
| Including interest on deposits |
3.57 | 4.08 | 4.40 | 4.58 | 3.25 | 3.20 | ||||||||||||||||||
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| (1) | As defined in Item 503(d) of Regulation S-K. |