EX-12.2 9 dex122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends

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

   2009     2008     2007     2006     2005  

Earnings

          

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

   $ 3,135      $ 946      $ 1,612      $ 3,737      $ 1,801   

Add:

          

Distributed income of equity investees

     171        157        124        20     

Fixed charges and preferred stock dividends excluding interest on deposits

     1,993        1,059        1,209        779        611   

Less:

          

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

     126        122        101        33        20   

Interest capitalized

     3           

Preferred stock dividend requirements

     597        33        1        1        1   
                                        

Earnings excluding interest on deposits

     4,573        2,007        2,843        4,502        2,391   

Interest on deposits

     1,741        1,485        2,053        1,590        981   
                                        

Total earnings

   $ 6,314      $ 3,492      $ 4,896      $ 6,092      $ 3,372   
                                        

Fixed charges and preferred stock dividends

          

Interest on borrowed funds

   $ 1,225      $ 961      $ 1,143      $ 719      $ 552   

Interest component of rentals

     131        64        64        59        58   

Amortization of notes and debentures

     37        1        1       

Interest capitalized

     3           

Preferred stock dividend requirements

     597        33        1        1        1   
                                        

Fixed charges and preferred stock dividends excluding interest on deposits

     1,993        1,059        1,209        779        611   

Interest on deposits

     1,741        1,485        2,053        1,590        981   
                                        

Total fixed charges and preferred stock dividends

   $ 3,734      $ 2,544      $ 3,262      $ 2,369      $ 1,592   
                                        

Ratio of earnings to fixed charges and preferred stock dividends

          

Excluding interest on deposits

     2.29     1.90     2.35     5.78     3.91

Including interest on deposits

     1.69        1.37        1.50        2.57        2.12   

 

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