PNC Bank 2005 Annual Report Download - page 291
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The PNC Financial Services Group, Inc. and Subsidiaries
EXHIBIT 12.1
Computation of Ratio of Earnings
to Fixed Charges
Dollars in millions 2005 2004 2003 2002 2001
Earnings
Pretax income from continuing operations before
adjustments for minority interest (1) $1,942 $1,735 $1,568 $1,821 $564
Fixed charges excluding interest on deposits 662 357 346 432 762
Subtotal 2,604 2,092 1,914 2,253 1,326
Interest on deposits 981 484 457 659 1,229
Total
$3,585 $2,576 $2,371 $2,912 $2,555
Fixed charges
Interest on borrowed funds $599 $298 $258 $315 $645
Interest component of rentals 63 58 59 58 53
Amortization of notes and debentures 1 1 1 1
Distributions on mandatorily redeemable
capital securities of subsidiary trusts 28 58 63
Subtotal 662 357 346 432 762
Interest on deposits 981 484 457 659 1,229
Total
$1,643 $841 $803 $1,091 $1,991
Ratio of earnings to fixed charges
Excluding interest on deposits 3.93 x5.86 x5.53 x5.22 x1.74 x
Including interest on deposits 2.18 3.06 2.95 2.67 1.28
(1) As defined in Item 503(d) of Regulation S-K.
Year Ended December 31