PNC FINANCIAL SERVICES GROUP INC
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
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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.
Jun 30, 2024 · Filed Aug 2, 2024
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Other Comprehensive Income (Loss)
Details of other comprehensive income (loss) are as follows:
Table 62: Other Comprehensive Income (Loss)
| Three months ended June 30 · Six months ended June 30 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |||||||||
| In millions | Pre-tax | Tax effect | After-tax | Pre-tax | Tax effect | After-tax | Pre-tax | Tax effect | After-tax | Pre-tax | Tax effect | After-tax |
| Debt securities | ||||||||||||
| Net unrealized gains (losses) on securities | $(216) | $52 | $(164) | $(476) | $112 | $(364) | $(611) | $147 | $(464) | $178 | $(42) | $136 |
| Less: Net realized (losses) reclassified to earnings (a) | (691) | 166 | (525) | (235) | 55 | (180) | (907) | 218 | (689) | (450) | 106 | (344) |
| Net change | 475 | (114) | 361 | (241) | 57 | (184) | 296 | (71) | 225 | 628 | (148) | 480 |
| Cash flow hedge derivatives | ||||||||||||
| Net unrealized (losses) on cash flow hedge derivatives | (75) | 18 | (57) | (689) | 162 | (527) | (701) | 168 | (533) | (492) | 116 | (376) |
| Less: Net realized (losses) reclassified to earnings (a) | (383) | 92 | (291) | (373) | 88 | (285) | (759) | 182 | (577) | (703) | 166 | (537) |
| Net change | 308 | (74) | 234 | (316) | 74 | (242) | 58 | (14) | 44 | 211 | (50) | 161 |
| Pension and other postretirement benefit plan adjustments | ||||||||||||
| Net pension and other postretirement benefit plan activity and other reclassified to earnings (b) | 1 | 1 | 6 | (1) | 5 | (1) | (1) | (4) | 1 | (3) | ||
| Net change | 1 | 1 | 6 | (1) | 5 | (1) | (1) | (4) | 1 | (3) | ||
| Other | ||||||||||||
| Net unrealized gains (losses) on other transactions | 3 | 1 | 4 | (2) | (2) | 7 | 2 | 9 | ||||
| Net change | 3 | 1 | 4 | (2) | (2) | 7 | 2 | 9 | ||||
| Total other comprehensive income (loss) | $784 | $(188) | $596 | $(548) | $131 | $(417) | $351 | $(85) | $266 | $842 | $(195) | $647 |
(a)Reclassifications for pre-tax debt securities and cash flow hedges are recorded in Interest income and Noninterest income on the Consolidated Income Statement.
(b)Reclassifications include amortization of actuarial losses (gains) and amortization of prior period service costs (credits), which are recorded in Noninterest expense on the Consolidated Income Statement.
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