PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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Change in Unrecognized Tax Benefits
Table 113: Change in Unrecognized Tax Benefits
| In millions | 2024 | 2023 | 2022 |
|---|---|---|---|
| Balance of gross unrecognized tax benefits at January 1 | $368 | $318 | $275 |
| Increases: | |||
| Positions taken during a current period | 23 | 20 | |
| Positions taken during a prior period | 35 | 35 | 46 |
| Decreases: | |||
| Settlements with taxing authorities | (1) | (4) | (3) |
| Reductions resulting from lapse of statute of limitations | (60) | (1) | |
| Balance of gross unrecognized tax benefits at December 31 | $365 | $368 | $318 |
| Favorable impact if recognized | $314 | $306 | $258 |
We do not expect that the balance of unrecognized tax benefits will significantly increase or decrease in the next twelve months.
We are subject to U.S. federal income tax as well as income tax in most states and some foreign jurisdictions. Table 114 summarizes the status of significant IRS examinations.
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