PNC Bank 2006 Annual Report Download - page 120

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Results Of Businesses
Year ended December 31
In millions
Retail
Banking
Corporate &
Institutional
Banking BlackRock PFPC Other
Intercompany
Eliminations Consolidated
2006
I
NCOME
S
TATEMENT
Net interest income (expense) $1,673 $711 $20 $(38) $(121) $2,245
Noninterest income 1,447 752 1,135 917 2,137 $(61) 6,327
Total revenue 3,120 1,463 1,155 879 2,016 (61) 8,572
Provision for credit losses 81 42 1 124
Depreciation and amortization 67 23 29 57 99 275
Other noninterest expense 1,760 726 828 646 266 (58) 4,168
Earnings before minority interests in BlackRock and income
taxes 1,212 672 298 176 1,650 (3) 4,005
Minority interests in BlackRock 47 47
Income taxes 447 209 104 52 552 (1) 1,363
Earnings $765 $463 $194 $124 $1,051 $(2) $2,595
Inter-segment revenue $13 $9 $28 $12 $(1) $(61)
A
VERAGE
A
SSETS
(a) $29,248 $26,548 $3,937 $2,204 $35,611 $(2,536) $95,012
2005
I
NCOME
S
TATEMENT
Net interest income (expense) $1,588 $729 $35 $(33) $(165) $2,154
Noninterest income 1,275 596 1,191 879 312 $(80) 4,173
Total revenue 2,863 1,325 1,226 846 147 (80) 6,327
Provision for (recoveries of) credit losses 52 (30) (1) 21
Depreciation and amortization 62 20 31 56 107 276
Other noninterest expense 1,664 638 822 629 329 (52) 4,030
Earnings before minority interests in BlackRock and income
taxes 1,085 697 373 161 (288) (28) 2,000
Minority interests in BlackRock 71 71
Income taxes 403 217 139 57 (202) (10) 604
Earnings $682 $480 $234 $104 $(157) $(18) $1,325
Inter-segment revenue $13 $7 $32 $3 $25 $(80)
A
VERAGE
A
SSETS
(a) $27,618 $25,309 $1,848 $2,128 $33,315 $(1,670) $88,548
2004
I
NCOME
S
TATEMENT
Net interest income (expense) $1,479 $701 $34 $(47) $(198) $1,969
Noninterest income 1,223 552 725 810 324 $(62) 3,572
Total revenue 2,702 1,253 759 763 126 (62) 5,541
Provision for (recoveries of) credit losses 61 5 (14) 52
Depreciation and amortization 53 17 21 45 80 216
Other noninterest expense 1,630 598 543 601 184 (60) 3,496
Earnings before minority interests in BlackRock and income
taxes 958 633 195 117 (124) (2) 1,777
Minority interests in BlackRock 42 42
Income taxes 348 190 52 47 (98) (1) 538
Earnings $610 $443 $143 $70 $(68) $(1) $1,197
Inter-segment revenue $12 $7 $33 $10 $(62)
A
VERAGE
A
SSETS
(a) $24,261 $21,589 $1,145 $2,572 $27,582 $(1,883) $75,266
(a) Period-end balances for BlackRock and PFPC.
Certain revenue and expense amounts shown in the preceding table differ from amounts included in the Business Segments Review
section of Item 7 of this Form 10-K due to the presentation in Item 7 of business revenues on a taxable-equivalent basis and
classification differences related to BlackRock and PFPC. In addition, BlackRock income classified as net interest income in the
preceding table represents the net of investment income and interest expense as presented in the Business Segments Review
section. PFPC income classified as net interest income (expense) in the preceding table represents the interest components of
nonoperating income (net of nonoperating expense) and debt financing as disclosed in the Business Segments Review section.
110