PNC Bank 2014 Annual Report Download - page 124
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CONSOLIDATED INCOME STATEMENT
THE PNC FINANCIAL SERVICES GROUP, INC.
Year ended December 31
In millions, except per share data 2014 2013 2012
Interest Income
Loans $ 7,427 $ 7,866 $ 8,284
Investment securities 1,624 1,749 2,035
Other 380 392 415
Total interest income 9,431 10,007 10,734
Interest Expense
Deposits 325 344 386
Borrowed funds 581 516 708
Total interest expense 906 860 1,094
Net interest income 8,525 9,147 9,640
Noninterest Income
Asset management 1,513 1,342 1,169
Consumer services 1,254 1,253 1,136
Corporate services 1,415 1,210 1,166
Residential mortgage 618 871 284
Service charges on deposits 662 597 573
Net gains on sales of securities 4 99 204
Other-than-temporary impairments (35) (14) (79)
Less: Noncredit portion of other-than-temporary impairments (a) (24) 2 32
Net other-than-temporary impairments (11) (16) (111)
Other 1,395 1,509 1,451
Total noninterest income 6,850 6,865 5,872
Total revenue 15,375 16,012 15,512
Provision For Credit Losses 273 643 987
Noninterest Expense
Personnel 4,611 4,743 4,617
Occupancy 833 833 827
Equipment 859 763 735
Marketing 253 246 279
Other (b) 2,932 3,096 4,028
Total noninterest expense 9,488 9,681 10,486
Income before income taxes and noncontrolling interests 5,614 5,688 4,039
Income taxes (b) 1,407 1,476 1,045
Net income (b) 4,207 4,212 2,994
Less: Net income (loss) attributable to noncontrolling interests (b) 23 11 (7)
Preferred stock dividends 232 237 177
Preferred stock discount accretion and redemptions 5 12 4
Net income attributable to common shareholders $ 3,947 $ 3,952 $ 2,820
Earnings Per Common Share
Basic $ 7.44 $ 7.45 $ 5.33
Diluted $ 7.30 $ 7.36 $ 5.28
Average Common Shares Outstanding
Basic 529 528 526
Diluted 537 532 529
(a) Included in accumulated other comprehensive income (loss).
(b) Amounts for 2012 and 2013 periods have been updated to reflect the first quarter 2014 adoption of Accounting Standards Update (ASU) 2014-01 related to investments in low income
housing tax credits.
See accompanying Notes To Consolidated Financial Statements.
106 The PNC Financial Services Group, Inc. – Form 10-K