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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments34,36382,25492,19028,47416,50133,844
Cash and cash equivalents34,36382,25492,19028,47416,50133,844
Financing receivable, accrued interest, after allowance for credit loss1,200  
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss282  
Total current assets:35,84582,25492,19028,47416,50133,844
Noncurrent Assets
Operating lease, right-of-use asset 1,8571,9191,8762,000
Leveraged leases, net investment in leveraged leases disclosure, investment in leveraged leases 6,5146,1296,4147,155
Property, plant and equipment 8,7548,5937,6877,7285,7275,436
Intangible assets, net (including goodwill)10,98710,9169,2339,2339,2189,173
Goodwill10,98710,9169,2339,2339,2189,173
Total noncurrent assets:28,11227,55725,21026,11614,94514,609
Other undisclosed assets493,306447,380349,279355,705350,869332,315
TOTAL ASSETS:557,263557,191466,679410,295382,315380,768
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities511,451501,465412,638360,952334,545333,183
Total liabilities:511,451501,465412,638360,952334,545333,183
Equity
Equity, attributable to parent45,77455,69554,01049,31447,72847,513
Common stock2,7142,7132,7132,7122,7112,710
Treasury stock, value(18,716)(15,112)(14,205)(12,781)(9,454)(6,904)
Additional paid in capital18,37617,45715,88416,36916,27716,374
Accumulated other comprehensive income (loss)(10,172)4092,770799(725)(148)
Retained earnings53,57250,22846,84842,21538,91935,481
Equity, attributable to noncontrolling interest383131294272
Total equity:45,81255,72654,04149,34347,77047,585
TOTAL LIABILITIES AND EQUITY:557,263557,191466,679410,295382,315380,768

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues21,12019,21116,90117,82717,13216,329
Net investment income12,7109,3009,26611,33610,3218,816
Financial services revenue2,637
Cost of revenue  (2,985)(773)(408)(441)
Provision for loan, lease, and other losses  (2,985)(773)(408)
Financial services costs(441)
Other undisclosed gross profit      
Gross profit:21,12019,21113,91617,05416,72415,888
Operating expenses (3,032)3,181(1,135)(1,103)(6,336)
Operating income:21,12016,17917,09715,91915,6219,552
Interest and debt expense(2,422)(487)(1,361)(3,797)(2,861)(1,706)
Income from continuing operations before equity method investments, income taxes:18,69815,69215,73612,12212,7607,846
Other undisclosed loss from continuing operations before income taxes(11,225)(8,704)(12,307)(5,642)(6,332)(2,356)
Income from continuing operations before income taxes:7,4736,9883,4296,4806,4285,490
Income tax expense(1,360)(1,263)(426)(1,062)(1,082)(102)
Income from continuing operations:6,1135,7253,0035,4185,3465,388
Income before gain (loss) on sale of properties:5,7257,5585,4185,3465,388
Income from discontinued operations   4,555   
Net income:6,1135,7257,5585,4185,3465,388
Net loss attributable to noncontrolling interest   (49)(45)(50)
Other undisclosed net income attributable to parent      
Net income attributable to parent:6,1135,7257,5585,3695,3015,338
Preferred stock dividends and other adjustments(5)(5)(4)(4)(4)(26)
Undistributed earnings (loss) allocated to participating securities, basic   (22)   
Other undisclosed net loss available to common stockholders, basic(400)(311)(4,816)(257)(257)(259)
Net income available to common stockholders, basic:5,7085,4092,7165,1085,0405,053
Other undisclosed net loss available to common stockholders, diluted    (10)(9)(16)
Net income available to common stockholders, diluted:5,7085,4092,7165,0985,0315,037

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:6,1135,7257,5585,4185,3465,388
Other comprehensive income (loss)(10,581)(2,361)1,9711,524(583)117
Comprehensive income (loss):(4,468)3,3649,5296,9424,7635,505
Comprehensive loss, net of tax, attributable to noncontrolling interest(72)(51)(41)(49)(45)(50)
Comprehensive income (loss), net of tax, attributable to parent:(4,540)3,3139,4886,8934,7185,455

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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