EXHIBIT 12.1
The PNC Financial Services Group, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (1)
| Year Ended December 31 | ||||||||||||||||||||||||
| Dollars in millions |
Six Months Ended June 30, 2017 |
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 |
$ | 2,551 | $ | 4,642 | $ | 4,860 | $ | 4,993 | $ | 5,148 | $ | 3,594 | ||||||||||||
| Add: |
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| Distributed income of equity investees |
176 | 324 | 310 | 275 | 242 | 216 | ||||||||||||||||||
| Fixed charges excluding interest on deposits |
586 | 978 | 796 | 734 | 664 | 853 | ||||||||||||||||||
| Less: |
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| Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges |
31 | 84 | 93 | 96 | 112 | 137 | ||||||||||||||||||
| Interest capitalized |
1 | 1 | ||||||||||||||||||||||
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| Earnings excluding interest on deposits |
3,282 | 5,860 | 5,872 | 5,905 | 5,942 | 4,526 | ||||||||||||||||||
| Interest on deposits |
263 | 430 | 403 | 325 | 344 | 386 | ||||||||||||||||||
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| Total earnings |
$ | 3,545 | $ | 6,290 | $ | 6,275 | 6,230 | 6,286 | 4,912 | |||||||||||||||
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| Fixed charges |
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| Interest on borrowed funds |
$ | 513 | $ | 830 | $ | 640 | $ | 581 | $ | 516 | $ | 696 | ||||||||||||
| Interest component of rentals |
73 | 147 | 153 | 152 | 148 | 145 | ||||||||||||||||||
| Amortization of notes and debentures |
1 | 2 | 12 | |||||||||||||||||||||
| Interest capitalized |
1 | 1 | ||||||||||||||||||||||
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| Fixed charges excluding interest on deposits |
586 | 978 | 796 | 734 | 664 | 853 | ||||||||||||||||||
| Interest on deposits |
263 | 430 | 403 | 325 | 344 | 386 | ||||||||||||||||||
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| Total fixed charges |
$ | 849 | $ | 1,408 | $ | 1,199 | $ | 1,059 | $ | 1,008 | $ | 1,239 | ||||||||||||
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| Ratio of earnings to fixed charges |
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| Excluding interest on deposits |
5.60x | 5.99x | 7.38x | 8.04x | 8.95x | 5.31x | ||||||||||||||||||
| Including interest on deposits |
4.18 | 4.47 | 5.23 | 5.88 | 6.24 | 3.96 | ||||||||||||||||||
| (1) | As defined in Item 503(d) of Regulation S-K. |