EX-12.1 4 j9348001ex12-1.txt COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12.1 THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year ended December 31 -------------------------------------------------------------- Dollars in millions 2001 2000 1999 1998 1997 ----------------------------------------------------- ------ ------ ------ ------ ------ EARNINGS Income from continuing operations before taxes $ 564 $1,848 $1,788 $1,651 $1,595 Fixed charges excluding interest on deposits 763 1,033 980 1,159 1,080 ------ ------ ------ ------ ------ Subtotal 1,327 2,881 2,768 2,810 2,675 Interest on deposits 1,229 1,653 1,369 1,471 1,457 ------ ------ ------ ------ ------ Total $2,556 $4,534 $4,137 $4,281 $4,132 ====== ====== ====== ====== ====== FIXED CHARGES Interest on borrowed funds $ 646 915 870 1,065 1,010 Interest component of rentals 53 50 44 33 26 Amortization of notes and debentures 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 63 67 65 60 43 ------ ------ ------ ------ ------ Subtotal 763 1,033 980 1,159 1,080 Interest on deposits 1,229 1,653 1,369 1,471 1,457 ------ ------ ------ ------ ------ Total $1,992 $2,686 $2,349 $2,630 $2,537 ====== ====== ====== ====== ====== RATIO OF EARNINGS TO FIXED CHARGES Excluding interest on deposits 1.74 x 2.79 x 2.82 x 2.42 x 2.48 x Including interest on deposits 1.28 1.69 1.76 1.63 1.63 -----------------------------------------------------------------------------------------------------------------------