PNC Bank 2010 Annual Report Download - page 106
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
THE PNC FINANCIAL SERVICES GROUP, INC.
(continued from previous page)
Shareholders’ Equity
In millions
Shares
Outstanding
Common
Stock
Common
Stock
Capital
Surplus -
Preferred
Stock
Capital
Surplus -
Common
Stock and
Other
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Treasury
Stock
Noncontrolling
Interests
Total
Equity
Cumulative effect of adopting ASU 2009-17 (92) (13) (105)
Balance at January 1, 2010 462 $2,354 $ 7,974 $ 8,945 $13,052 $(1,975) $(513) $2,625 $32,462
Net income 3,412 (15) 3,397
Other comprehensive income (loss), net of tax
Net unrealized gains on other-than- temporary
impaired debt securities 170 170
Net unrealized securities gains 868 868
Net unrealized gains on cash flow hedge
derivatives 356 356
Pension, other postretirement and postemployment
benefit plan adjustments 162 162
Other (12) (12)
Comprehensive income (loss) (15) 4,941
Cash dividends declared
Common (204) (204)
Preferred (146) (146)
Redemption of preferred stock and noncontrolling
interest
Series N (TARP) (7,579) (7,579)
Preferred stock discount accretion 252 (252)
Other (1) (3) (4)
Common stock activity (e) 65 328 3,113 3,441
Treasury stock activity (1) (62) (59) (121)
Other 62 (14) 48
Balance at December 31, 2010 (a) 526 $2,682 $ 647 $12,057 $15,859 $ (431) $(572) $2,596 $32,838
(a) The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation.
(b) Issued to the US Department of Treasury on December 31, 2008 under the TARP Capital Purchase Program.
(c) Retained earnings at January 1, 2009 was increased $110 million representing the after-tax noncredit portion of other-than-temporary impairment losses recognized in net income during
2008 that has been reclassified to accumulated other comprehensive income (loss).
(d) Net treasury stock activity totaled .5 million shares issued.
(e) Includes 63.9 million common shares issuance, the net proceeds of which were used together with other available funds to redeem the Series N (TARP) Preferred Stock, for a $3.4 billion
net increase in total equity.
See accompanying Notes To Consolidated Financial Statements.
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