PNC Bank 2002 Annual Report Download - page 71

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CONSOLIDATED BALANCE SHEET
THE PNC FINANCIAL SERVICES GROUP, INC.
69
December 31
In millions, except par value 2002 2001
ASSETS
Cash and due from banks $3,201 $4,327
Short-term investments 3,658 1,335
Loans held for sale 1,607 4,189
Securities 13,763 13,908
Loans, net of unearned income of $1,075 and $1,164 35,450 37,974
Allowance for credit losses (673) (560)
Net loans 34,777 37,414
Goodwill 2,313 2,036
Other intangible assets 333 337
Other 6,725 6,092
Total assets $66,377 $69,638
LIABILITIES
Deposits
Noninterest-bearing $9,538 $10,124
Interest-bearing 35,444 37,180
Total deposits 44,982 47,304
Borrowed funds
Federal funds purchased 38 167
Repurchase agreements 814 954
Bank notes and senior debt 4,400 6,362
Federal Home Loan Bank borrowings 1,256 2,047
Subordinated debt 2,423 2,298
Other borrowed funds 185 262
Total borrowed funds 9,116 12,090
Allowance for unfunded loan commitments and letters of credit 84 70
Accrued expenses 2,046 1,684
Other 2,172 1,649
Total liabilities 58,400 62,797
Minority interest 270 170
Mandatorily redeemable capital securities of subsidiary trusts 848 848
SHAREHOLDERS’ EQUITY
Preferred stock 1
Common stock - $5 par value
Authorized 800 shares
Issued 353 shares 1,764 1,764
Capital surplus 1,101 1,077
Retained earnings 7,187 6,549
Deferred benefit expense (9) (16)
Accumulated other comprehensive income 321 5
Common stock held in treasury at cost: 68 and 70 shares (3,505) (3,557)
Total shareholders’ equity 6,859 5,823
Total liabilities, minority interest, capital securities and shareholders’ equity $66,377 $69,638
See accompanying Notes To Consolidated Financial Statements.