PNC Bank 2005 Annual Report Download - page 17

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ITEM 6 - SELECTED FINANCIAL DATA
Year ended December 31
Dollars in millions, except per share data 2005
2004
2003
2002
2001(a)
SUMMARY OF OPERATIONS
Interest income $3,734 $2,752 $2,712 $3,172 $4,137
Interest expense 1,580 783 716 975 1,875
Net interest income
2,154
1,969
1,996
2,197
2,262
Provision for credit losses 21 52 177 309 903
Noninterest income 4,162 3,563 3,257 3,197 2,652
Noninterest expense 4,333 3,735 3,476 3,227 3,414
Income from continuing operations before minority
and noncontrolling interests and income taxes 1,962
1,745 1,600 1,858 597
Minority and noncontrolling interests in income of
consolidated entities 33 10 32 37 33
Income taxes 604 538 539 621 187
Income from continuing operations
1,325
1,197 1,029
1,200
377
(Loss) income from discontinued operations, net
of tax
(16) 5
Income before cumulative effect of accounting
change 1,325 1,197 1,029 1,184 382
Cumulative effect of accounting change, net of tax (28) (5)
Net income
$1,325
$1,197 $1,001
$1,184
$377
PER COMMON SHARE
Basic earnings (loss)
Continuing operations $4.63 $4.25 $3.68 $4.23 $1.27
Discontinued operations (.05) .02
Before cumulative effect of accounting change 4.63 4.25 3.68 4.18 1.29
Cumulative effect of accounting change (.10) (.02)
Net income $4.63 $4.25 $3.58 $4.18 $1.27
Diluted earnings (loss)
Continuing operations $4.55 $4.21 $3.65 $4.20 $1.26
Discontinued operations (.05) .02
Before cumulative effect of accounting change 4.55 4.21 3.65 4.15 1.28
Cumulative effect of accounting change (.10) (.02)
Net income $4.55 $4.21 $3.55 $4.15 $1.26
Book value (At December 31) $29.21 $26.41 $23.97 $24.03 $20.54
Cash dividends declared $2.00 $2.00 $1.94 $1.92 $1.92
(a) See Note (a) on page 18.
Certain prior-period amounts have been reclassified to conform with the current period presentation, which we believe is more
meaningful to readers of our consolidated financial statements. See Note 2 Acquisitions in the Notes To Consolidated Financial
Statements in Item 8 of this Report for information on significant recent business acquisitions and the $45 million reversal of
deferred tax liabilities recognized in 2005.
For information regarding certain business risks, see Item 1A Risk Factors and the Risk Management section of Item 7 of this
Report. Also, see the Cautionary Statement Regarding Forward-Looking Information section of Item 7 of this Report for certain
risks and uncertainties that could cause actual results to differ materially from those anticipated in forward-looking statements or
from historical performance.