PNC Bank 2005 Annual Report Download - page 106

106
Results Of Businesses
Year ended December 31
In millions
Retail
Banking
Corporate &
Institutional
Banking BlackRock PFPC Other
Intercompany
Eliminations Consolidated
2005
INCOME STATEMENT
Net interest income (expense) $1,577 $722 $35 $(33) $(137) $(10) $2,154
Noninterest income 1,275 610 1,191 879 287 (80) 4,162
Total revenue 2,852 1,332 1,226 846 150 (90) 6,316
Provision for (recoveries of) credit losses 52 (30) (1) 21
Depreciation and amortization 69 26 31 56 94 276
Other noninterest expense 1,646 696 819 629 319 (52) 4,057
Earnings before minority and other
interests and income taxes 1,085
640 376 161 (262) (38) 1,962
Minority and other interests in
income of consolidated entities
(57) 3 87 33
Income taxes 403 217 139 57 (186) (26) 604
Earnings $682 $480 $234 $104 $(163) $(12) $1,325
Inter-segment revenue $13 $11 $32 $4 $30 $(90)
AVERAGE ASSETS (a) $27,862 $25,907 $1,848 $2,128 $32,473 $(1,670) $88,548
2004
INCOME STATEMENT
Net interest income (expense) $1,467 $693 $34 $(47) $(184) $6 $1,969
Noninterest income 1,223 573 725 810 294 (62) 3,563
Total revenue 2,690 1,266 759 763 110 (56) 5,532
Provision for (recoveries of) credit losses 61 5 (14) 52
Depreciation and amortization 60 22 21 45 68 216
Other noninterest expense 1,611 649 538 601 180 (60) 3,519
Earnings before minority and other
interests and income taxes 958 590 200 117 (124) 4 1,745
Minority and other interests in
income of consolidated entities
(43) 5 48 10
Income taxes 348 190 52 47 (101) 2 538
Earnings $610 $443 $143 $70 $(71) $2 $1,197
Inter-segment revenue $10 $7 $33 $6 $(56)
AVERAGE ASSETS (a) $24,496 $22,073 $1,145 $2,572 $26,863 $(1,883) $75,266
2003
INCOME STATEMENT
Net interest income (expense) $1,326 $676 $22 $(54) $26 $1,996
Noninterest income 1,177 602 598 760 209 $(89) 3,257
Total revenue 2,503 1,278 620 706 235 (89) 5,253
Provision for credit losses 43 121 13 177
Depreciation and amortization 47 20 21 21 73 182
Other noninterest expense 1,527 614 348 578 305 (78) 3,294
Earnings before minority and other
interests and income taxes 886
523 251 107 (156)
(11) 1,600
Minority and other interests in
income of consolidated entities (21) 53 32
Income taxes 320 153 96 43 (67) (6) 539
Earnings $566 $391 $155 $64 $(142) $(5) $1,029
Inter-segment revenue $45 $5 $18 $7 $14 $(89)
AVERAGE ASSETS (a) $19,463 $21,023 $967 $1,885 $25,839 $(1,898) $67,279
(a) Period-end balances for BlackRock and PFPC.
Certain revenue and expense amounts shown in the preceding table differ from amounts included in the Business Segments Review section of Item 7 of
this Form 10-K due to the presentation in Item 7 of business revenues on a taxable-equivalent basis and classification differences related to BlackRock
and PFPC. In addition, BlackRock income classified as net interest income in the preceding table represents the net of investment income and interest
expense as presented in the Business Segments Review section. PFPC income classified as net interest income (expense) in the preceding table represents
the interest components of nonoperating income (net of nonoperating expense) and debt financing as disclosed in the Business Segments Review section.