PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
PNC$231.30+2.6%Stored close · as of Nov 9, 2026
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Deferred Tax Assets and Liabilities
Significant components of deferred tax assets and liabilities are as follows:
Table 102: Deferred Tax Assets and Liabilities
| December 31 – in millions | 2023 | 2022 |
|---|---|---|
| Deferred tax assets | ||
| Net unrealized losses on securities and financial instruments | $2,417 | $3,107 |
| Allowance for loan and lease losses | 1,147 | 1,152 |
| Lease obligations | 508 | 548 |
| Compensation and benefits | 261 | 369 |
| Allowance for unfunded lending related commitments | 161 | 170 |
| Accrued expenses | 209 | 78 |
| Other | 384 | 350 |
| Total gross deferred tax assets | 5,087 | 5,774 |
| Valuation allowance | (26) | (27) |
| Total deferred tax assets | 5,061 | 5,747 |
| Deferred tax liabilities | ||
| Leasing | 938 | 1,034 |
| Fixed assets | 477 | 589 |
| Right of Use Assets | 445 | 472 |
| Mortgage servicing rights | 359 | 325 |
| Goodwill and intangibles | 252 | 270 |
| Other | 461 | 405 |
| Total deferred tax liabilities | 2,932 | 3,095 |
| Net deferred tax asset | $2,129 | $2,652 |
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