PNC Bank 2015 Annual Report Download - page 211

Table 124: Accumulated Other Comprehensive Income (Loss) Components
In millions, after-tax
Net unrealized gains
(losses) on non-OTTI
securities
Net unrealized gains
(losses) on OTTI
securities
Net unrealized gains
(losses) on cash flow
hedge derivatives
Pension and other
postretirement benefit
plan adjustments Other Total
Balance at December 31, 2012 $1,177 $(123) $ 578 $(777) $(21) $ 834
Net activity (768) 147 (335) 540 18 (398)
Balance at December 31, 2013 $ 409 $ 24 $ 243 $(237) $ (3) $ 436
Net activity 238 50 107 (283) (45) 67
Balance at December 31, 2014 $ 647 $ 74 $ 350 $(520) $(48) $ 503
Net Activity (361) (8) 80 (34) (50) (373)
Balance at December 31, 2015 $ 286 $ 66 $ 430 $(554) $(98) $ 130
N
OTE 18 I NCOME T AXES
The components of income tax expense are as follows:
Table 125: Components of Income Tax Expense
Year ended December 31 In millions 2015 2014 2013
Current
Federal $ 927 $1,084 $ 263
State 33 68 17
Total current 960 1,152 280
Deferred
Federal 320 220 1,119
State 84 35 77
Total deferred 404 255 1,196
Total $1,364 $1,407 $1,476
Significant components of deferred tax assets and liabilities
are as follows:
Table 126: Deferred Tax Assets and Liabilities
December 31 – in millions 2015 2014
Deferred tax assets
Allowance for loan and lease losses $1,032 $1,250
Compensation and benefits 654 822
Partnership investments 295 247
Loss and credit carryforward 502 545
Accrued expenses 542 581
Other 320 290
Total gross deferred tax assets 3,345 3,735
Valuation allowance (61) (65)
Total deferred tax assets 3,284 3,670
Deferred tax liabilities
Leasing 1,413 1,494
Goodwill and intangibles 320 328
Fixed assets 391 381
Net unrealized gains on securities and
financial instruments 453 619
BlackRock basis difference 2,327 2,166
Other 542 619
Total deferred tax liabilities 5,446 5,607
Net deferred tax liability $2,162 $1,937
The PNC Financial Services Group, Inc. – Form 10-K 193