PNC Bank 2012 Annual Report Download - page 257
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Nonaccrual loans are included in loans, net of unearned income. The impact of financial derivatives used in interest rate risk management is included in the interest
income/expense and average yields/rates of the related assets and liabilities. Basis adjustments related to hedged items are included in noninterest-earning assets and
noninterest-bearing liabilities. Average balances of securities are based on amortized historical cost (excluding adjustments to fair value, which are included in other
assets). Average balances for certain loans and borrowed funds accounted for at fair value, with changes in fair value recorded in trading noninterest income, are
included in noninterest-earning assets and noninterest-bearing liabilities. The interest-earning deposits with the Federal Reserve are included in the “Other” interest-
earning assets category.
Loan fees for the years ended December 31, 2012, 2011, and 2010 were $217 million, $175 million, and $154 million, respectively.
Interest income includes the effects of taxable-equivalent adjustments using a marginal federal income tax rate of 35% to increase tax-exempt interest income to a
taxable-equivalent basis. The taxable-equivalent adjustments to interest income for the years ended December 31, 2012, 2011, and 2010 were $144 million, $104
million, and $81 million, respectively.
238 The PNC Financial Services Group, Inc. – Form 10-K