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 |
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| 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: |
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| 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: |
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| 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 | |||||||||||||||
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| Earnings excluding interest on deposits |
5,860 | 5,872 | 5,905 | 5,942 | 4,526 | |||||||||||||||
| Interest on deposits |
430 | 403 | 325 | 344 | 386 | |||||||||||||||
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| Total earnings |
$ | 6,290 | $ | 6,275 | $ | 6,230 | $ | 6,286 | $ | 4,912 | ||||||||||
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| Fixed charges and preferred stock dividends |
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| 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 | |||||||||||||||
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| 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 | |||||||||||||||
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| Total fixed charges and preferred stock dividends |
$ | 1,730 | $ | 1,537 | $ | 1,416 | $ | 1,372 | $ | 1,511 | ||||||||||
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| Ratio of earnings to fixed charges and preferred stock dividends |
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| Excluding interest on deposits |
4.51 | x | 5.18 | x | 5.41 | x | 5.78 | x | 4.02 | x | ||||||||||
| Including interest on deposits |
3.64 | x | 4.08 | x | 4.40 | x | 4.58 | x | 3.25 | x | ||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |