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 | Nine Months Ended September 30, 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees | $ | 3,436 | $ | 4,860 | $ | 4,993 | $ | 5,148 | $ | 3,594 | $ | 3,785 | ||||||||||||
Add: | ||||||||||||||||||||||||
Distributed income of equity investees | 243 | 310 | 275 | 242 | 216 | 198 | ||||||||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 991 | 1,134 | 1,091 | 1,028 | 1,125 | 1,037 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges | 62 | 93 | 96 | 112 | 137 | 154 | ||||||||||||||||||
Interest capitalized | 1 | 1 | ||||||||||||||||||||||
Preferred stock dividend requirements | 258 | 338 | 357 | 364 | 272 | 86 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Earnings excluding interest on deposits | 4,350 | 5,872 | 5,905 | 5,942 | 4,526 | 4,780 | ||||||||||||||||||
Interest on deposits | 316 | 403 | 325 | 344 | 386 | 668 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total earnings | $ | 4,666 | $ | 6,275 | $ | 6,230 | $ | 6,286 | $ | 4,912 | $ | 5,448 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges and preferred stock dividends | ||||||||||||||||||||||||
Interest on borrowed funds | $ | 621 | $ | 640 | $ | 581 | $ | 516 | $ | 696 | $ | 791 | ||||||||||||
Interest component of rentals | 111 | 153 | 152 | 148 | 145 | 125 | ||||||||||||||||||
Amortization of notes and debentures | 1 | 2 | 12 | 35 | ||||||||||||||||||||
Interest capitalized | 1 | 1 | ||||||||||||||||||||||
Preferred stock dividend requirements | 258 | 338 | 357 | 364 | 272 | 86 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges and preferred stock dividends excluding interest on deposits | 991 | 1,134 | 1,091 | 1,028 | 1,125 | 1,037 | ||||||||||||||||||
Interest on deposits | 316 | 403 | 325 | 344 | 386 | 668 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total fixed charges and preferred stock dividends | $ | 1,307 | $ | 1,537 | $ | 1,416 | $ | 1,372 | $ | 1,511 | $ | 1,705 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of earnings to fixed chargesand preferred stock dividends | ||||||||||||||||||||||||
Excluding interest on deposits | 4.39x | 5.18x | 5.41x | 5.78x | 4.02x | 4.61x | ||||||||||||||||||
Including interest on deposits | 3.57 | 4.08 | 4.40 | 4.58 | 3.25 | 3.20 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | As defined in Item 503(d) of Regulation S-K. |