PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Rollforward of Total Equity
Table 59: Rollforward of Total Equity
| Shareholders’ Equity | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In millions · SharesOutstandingCommonStock · CommonStock · CapitalSurplus -PreferredStock · CapitalSurplus -CommonStock andOther · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · TreasuryStock · Non-controllingInterests · Total Equity | |||||||||||||||||
| Three months ended | |||||||||||||||||
| Balance at December 31, 2022 (a) | 401 | $2,714 | $5,746 | $12,630 | $53,572 | $(10,172) | $(18,716) | $38 | $45,812 | ||||||||
| Cumulative effect of ASU adoptions (b) | 26 | 26 | |||||||||||||||
| Balance at January 1, 2023 (a) | 401 | $2,714 | $5,746 | $12,630 | $53,598 | $(10,172) | $(18,716) | $38 | $45,838 | ||||||||
| Net income | 1,677 | 17 | 1,694 | ||||||||||||||
| Other comprehensive income, net of tax | 1,064 | 1,064 | |||||||||||||||
| Cash dividends declared - Common | (607) | (607) | |||||||||||||||
| Cash dividends declared - Preferred | (68) | (68) | |||||||||||||||
| Preferred stock discount accretion | 2 | (2) | |||||||||||||||
| Preferred stock issuance (c) | 1,487 | 1,487 | |||||||||||||||
| Treasury stock activity | (2) | 70 | (308) | (238) | |||||||||||||
| Other | (71) | (25) | (96) | ||||||||||||||
| Balance at March 31, 2023 (a) | 399 | $2,714 | $7,235 | $12,629 | $54,598 | $(9,108) | $(19,024) | $30 | $49,074 | ||||||||
| Balance at December 31, 2023 (a) | 398 | $2,716 | $6,241 | $12,779 | $56,290 | $(7,712) | $(19,209) | $36 | $51,141 | ||||||||
| Net income | 1,330 | 14 | 1,344 | ||||||||||||||
| Other comprehensive loss, net of tax | (330) | (330) | |||||||||||||||
| Cash dividends declared - Common | (624) | (624) | |||||||||||||||
| Cash dividends declared - Preferred | (81) | (81) | |||||||||||||||
| Preferred stock discount accretion | 2 | (2) | |||||||||||||||
| Treasury stock activity | 71 | (70) | 1 | ||||||||||||||
| Other | (61) | (16) | (77) | ||||||||||||||
| Balance at March 31, 2024 (a) | 398 | $2,716 | $6,243 | $12,789 | $56,913 | $(8,042) | $(19,279) | $34 | $51,374 | ||||||||
(a)The par value of our preferred stock outstanding was less than $0.5 million at each date and, therefore, is excluded from this presentation.
(b)Represents the cumulative effect of adopting ASU 2022-02.
(c)On February 7, 2023, PNC issued 1,500,000 depositary shares each representing 1/100th ownership in a share of 6.250% fixed-rate reset non-cumulative perpetual preferred stock, Series W, with a par value of $1 per share.
66 The PNC Financial Services Group, Inc. –Form 10-Q
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.