PNC Bank 2007 Annual Report Download - page 22

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ITEM
6-
SELECTED FINANCIAL DATA
Year ended December 31
Dollars in millions, except per share data 2007 2006 (a) 2005 2004 2003
S
UMMARY
O
F
O
PERATIONS
Interest income $6,166 $4,612 $3,734 $2,752 $2,712
Interest expense 3,251 2,367 1,580 783 716
Net interest income 2,915 2,245 2,154 1,969 1,996
Provision for credit losses 315 124 21 52 177
Noninterest income 3,790 6,327 4,173 3,572 3,263
Noninterest expense 4,296 4,443 4,306 3,712 3,467
Income before minority interests and income taxes 2,094 4,005 2,000 1,777 1,615
Minority interest in income of BlackRock 47 71 42 47
Income taxes 627 1,363 604 538 539
Income before cumulative effect of accounting change 1,467 2,595 1,325 1,197 1,029
Cumulative effect of accounting change, net of tax (28)
Net income $1,467 $2,595 $1,325 $1,197 $1,001
P
ER
C
OMMON
S
HARE
Basic earnings (loss)
Before cumulative effect of accounting change $4.43 $8.89 $4.63 $4.25 $3.68
Cumulative effect of accounting change (.10)
Net income $4.43 $8.89 $4.63 $4.25 $3.58
Diluted earnings (loss)
Before cumulative effect of accounting change $4.35 $8.73 $4.55 $4.21 $3.65
Cumulative effect of accounting change (.10)
Net income $4.35 $8.73 $4.55 $4.21 $3.55
Book value (At December 31) $43.60 $36.80 $29.21 $26.41 $23.97
Cash dividends declared $2.44 $2.15 $2.00 $2.00 $1.94
(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 and Divestitures in the Notes To
Consolidated Financial Statements in Item 8 of this Report for information on significant recent and planned business acquisitions
and divestitures.
For information regarding certain business risks, see Item 1A Risk Factors and the Risk Management section of Item 7 of this
Report. Also, see our Cautionary Statement Regarding Forward-Looking Information included in 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.
17