PNC Financial Services Group Inc. (The) (PNC) Financial Statements (2024 and earlier)

Company Profile

Business Address THE TOWER AT PNC PLAZA
PITTSBURGH, PA 15222-2401
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments50,72534,36382,25492,19028,47416,501
Cash and cash equivalents50,72534,36382,25492,19028,47416,501
Financing receivable, accrued interest, after allowance for credit loss1,5001,200  
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss281282  
Total current assets:52,50635,84582,25492,19028,47416,501
Noncurrent Assets
Operating lease, right-of-use asset 1,7451,8571,9191,8762,000
Leveraged leases, net investment in leveraged leases disclosure, investment in leveraged leases  6,5146,1296,4147,155
Property, plant and equipment 8,5178,7548,5937,6877,7285,727
Intangible assets, net (including goodwill)10,93210,98710,9169,2339,2339,218
Goodwill10,93210,98710,9169,2339,2339,218
Total noncurrent assets:21,19428,11227,55725,21026,11614,945
Other undisclosed assets487,880493,306447,380349,279355,705350,869
TOTAL ASSETS:561,580557,263557,191466,679410,295382,315
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities510,439511,451501,465412,638360,952334,545
Total liabilities:510,439511,451501,465412,638360,952334,545
Equity
Equity, attributable to parent51,10545,77455,69554,01049,31447,728
Common stock2,7162,7142,7132,7132,7122,711
Treasury stock, value(19,209)(18,716)(15,112)(14,205)(12,781)(9,454)
Additional paid in capital19,02018,37617,45715,88416,36916,277
Accumulated other comprehensive income (loss)(7,712)(10,172)4092,770799(725)
Retained earnings56,29053,57250,22846,84842,21538,919
Equity, attributable to noncontrolling interest363831312942
Total equity:51,14145,81255,72654,04149,34347,770
TOTAL LIABILITIES AND EQUITY:561,580557,263557,191466,679410,295382,315

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues21,49021,12019,21116,90117,82717,132
Net investment income20,76312,7109,3009,26611,33610,321
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
   (2,985)(773)(408)
Gross profit:21,49021,12019,21113,91617,05416,724
Operating expenses  (3,032)3,181(1,135)(1,103)
Operating income:21,49021,12016,17917,09715,91915,621
Interest and debt expense(10,392)(2,422)(487)(1,361)(3,797)(2,861)
Income from continuing operations before equity method investments, income taxes:11,09818,69815,69215,73612,12212,760
Other undisclosed loss from continuing operations before income taxes(4,362)(11,225)(8,704)(12,307)(5,642)(6,332)
Income from continuing operations before income taxes:6,7367,4736,9883,4296,4806,428
Income tax expense(1,089)(1,360)(1,263)(426)(1,062)(1,082)
Income from continuing operations:5,6476,1135,7253,0035,4185,346
Income before gain (loss) on sale of properties:5,7257,5585,4185,346
Income from discontinued operations    4,555  
Net income:5,6476,1135,7257,5585,4185,346
Net loss attributable to noncontrolling interest(69)   (49)(45)
Net income attributable to parent:5,5786,1135,7257,5585,3695,301
Preferred stock dividends and other adjustments(8)(5)(5)(4)(4)(4)
Undistributed earnings (loss) allocated to participating securities, basic    (22)  
Other undisclosed net loss available to common stockholders, basic(444)(400)(311)(4,816)(257)(257)
Net income available to common stockholders, basic:5,1265,7085,4092,7165,1085,040
Other undisclosed net loss available to common stockholders, diluted     (10)(9)
Net income available to common stockholders, diluted:5,1265,7085,4092,7165,0985,031

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:5,6476,1135,7257,5585,4185,346
Other comprehensive income (loss)2,460(10,581)(2,361)1,9711,524(583)
Comprehensive income (loss):8,107(4,468)3,3649,5296,9424,763
Comprehensive loss, net of tax, attributable to noncontrolling interest(69)(72)(51)(41)(49)(45)
Comprehensive income (loss), net of tax, attributable to parent:8,038(4,540)3,3139,4886,8934,718

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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