PNC Bank 2007 Annual Report Download - page 71
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CONSOLIDATED INCOME STATEMENT
THE PNC FINANCIAL SERVICES GROUP, INC.
Year ended December 31
In millions, except per share data 2007 2006 2005
Interest Income
Loans $4,232 $3,203 $2,669
Securities available for sale 1,429 1,049 822
Other 505 360 243
Total interest income 6,166 4,612 3,734
Interest Expense
Deposits 2,053 1,590 981
Borrowed funds 1,198 777 599
Total interest expense 3,251 2,367 1,580
Net interest income 2,915 2,245 2,154
Provision for credit losses 315 124 21
Net interest income less provision for credit losses 2,600 2,121 2,133
Noninterest Income
Asset management 784 1,420 1,443
Fund servicing 835 893 870
Service charges on deposits 348 313 273
Brokerage 278 246 225
Consumer services 414 365 293
Corporate services 713 626 485
Equity management gains 102 107 96
Net securities losses (5) (207) (41)
Trading 104 183 157
Net gains (losses) related to BlackRock (127) 2,066
Other 344 315 372
Total noninterest income 3,790 6,327 4,173
Noninterest Expense
Compensation 1,850 2,128 2,061
Employee benefits 290 304 332
Net occupancy 350 310 313
Equipment 311 303 296
Marketing 115 104 106
Other 1,380 1,294 1,198
Total noninterest expense 4,296 4,443 4,306
Income before minority interest and income taxes 2,094 4,005 2,000
Minority interest in income of BlackRock 47 71
Income taxes 627 1,363 604
Net income $1,467 $2,595 $1,325
Earnings Per Common Share
Basic $ 4.43 $ 8.89 $ 4.63
Diluted $ 4.35 $ 8.73 $ 4.55
Average Common Shares Outstanding
Basic 331 292 286
Diluted 335 297 290
See accompanying Notes To Consolidated Financial Statements.
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