PNC Bank 2000 Annual Report Download - page 86

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83
NO T E 2 4 CO M P R E H E N S I V E IN C O M E
The Corporation’s other comprehensive income consists of
unrealized gains or losses on securities available for sale
and minimum pension liability adjustments. The income
effects allocated to each component of other comprehensive
income (loss) are as follows:
Year ended December 31 Pretax Tax Benefit After-tax
In millions Amount (Expense) Amount
2000
Unrealized securities gains . . . . . . . $127 $(41) $86
Less: Reclassification
adjustment for losses
realized in net income . . . . . . . . . (3) 1 (2)
Net unrealized
securities gains . . . . . . . . . . . . 130 (42) 88
Minimum pension
liability adjustment . . . . . . . . . . . 2 (1) 1
Other comprehensive
income from
continuing operations . . . . . . . $132 $(43) $89
1999
Unrealized securities losses . . . . . . . $(184) $63 $(121)
Less: Reclassification
adjustment for losses
realized in net income . . . . . . . . . (28) 10 (18)
Net unrealized
securities losses . . . . . . . . . . . (156) 53 (103)
Minimum pension
liability adjustment . . . . . . . . . . . (8) 3 (5)
Other comprehensive
loss from
continuing operations . . . . . . . $(164) $56 $(108)
1998
Unrealized securities losses . . . . . . . $(12) $4 $(8)
Less: Reclassification
adjustment for losses
realized in net income . . . . . . . . . (15) 5 (10)
Net unrealized
securities gains . . . . . . . . . . . 3 (1) 2
Minimum pension
liability adjustment . . . . . . . . . . . (11) 4 (7)
Other comprehensive
loss from continuing
operations . . . . . . . . . . . . . . . . $(8) $3 $(5)
The accumulated balances related to each component of
other comprehensive loss are as follows:
December 31 – in millions 2000 1999
Net unrealized securities losses . . . . . . . . . . . $(32) $(120)
Minimum pension liability adjustment . . . . . . (11) (12)
Accumulated other comprehensive
loss from continuing operations . . . . . . . . $(43) $(132)
NO T E 2 5 LI T I G AT I O N
The Corporation and persons to whom the Corporation may
have indemnification obligations, in the normal course of
business, are subject to various pending and threatened
lawsuits in which claims for monetary damages are asserted.
Management, after consultation with legal counsel, does not
at the present time anticipate the ultimate aggregate liabili-
ty, if any, arising out of such lawsuits will have a material
adverse effect on the Corporation’s financial condition. At
the present time, management is not in a position to deter-
mine whether any such pending or threatened litigation will
have a material adverse effect on the Corporation’s results of
operations in any future reporting period.
NO T E 2 6 FA I R VA L U E O F
FI N A N C I A L IN S T R U M E N T S
2000 1999
Carrying Fair Carrying Fair
December 31 – in millions Amount Value Amount Value
AS S E T S
Cash and
short-term assets . . . . . .
$5,041 $5,041
$4,465 $4,465
Securities available
for sale . . . . . . . . . . . . . .
5,902 5,902
5,960 5,960
Loans held for sale . . . . . . .
1,655 1,655
3,477 3,477
Net loans
(excludes leases) . . . . . .
46,066 46,872
46,041 46,398
Commercial mortgage
servicing rights . . . . . . . .
156 267
125 171
LI A B I L I T I E S
Demand, savings
and money
market deposits . . . . . . .
30,686 30,686
27,823 27,823
Time deposits . . . . . . . . . . .
16,978 17,101
17,979 17,890
Borrowed funds . . . . . . . . .
11,822 12,043
14,389 14,442
OF F - B A L A N C E - SH E E T
Unfunded loan
commitments . . . . . . . . .
(11) (11)
(5) (5)
Letters of credit . . . . . . . . .
(10) (10)
(9) (9)
Financial derivatives
Interest rate risk
management . . . . . . . .
63 104
75 (50)
Commercial mortgage
banking risk
management . . . . . . . .
(2) (10)
51
Credit-related
activities . . . . . . . . . . .
(2)
(4)
Customer/other
derivatives . . . . . . . . . 21 21