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

   2016     2015     2014     2013     2012  

Earnings

          

Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees

   $ 4,642     $ 4,860     $ 4,993     $ 5,148     $ 3,594  

Add:

          

Distributed income of equity investees

     324       310       275       242       216  

Fixed charges and preferred stock dividends excluding interest on deposits

     1,300       1,134       1,091       1,028       1,125  

Less:

          

Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges

     84       93       96       112       137  

Interest capitalized

       1       1      

Preferred stock dividend requirements

     322       338       357       364       272  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings excluding interest on deposits

     5,860       5,872       5,905       5,942       4,526  

Interest on deposits

     430       403       325       344       386  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

   $ 6,290     $ 6,275     $ 6,230     $ 6,286     $ 4,912  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges and preferred stock dividends

          

Interest on borrowed funds

   $ 830     $ 640     $ 581     $ 516     $ 696  

Interest component of rentals

     147       153       152       148       145  

Amortization of notes and debentures

     1       2           12  

Interest capitalized

       1       1      

Preferred stock dividend requirements

     322       338       357       364       272  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges and preferred stock dividends excluding interest on deposits

     1,300       1,134       1,091       1,028       1,125  

Interest on deposits

     430       403       325       344       386  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges and preferred stock dividends

   $ 1,730     $ 1,537     $ 1,416     $ 1,372     $ 1,511  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges and preferred stock dividends

          

Excluding interest on deposits

     4.51     5.18     5.41     5.78     4.02

Including interest on deposits

     3.64     4.08     4.40     4.58     3.25

 

(1) As defined in Item 503(d) of Regulation S-K.