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
PNC$231.300.0%Stored close · as of Nov 10, 2026
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Reconciliation of Statutory and Effective Tax Rates
A reconciliation between the statutory and effective tax rates follows:
Table 111: Reconciliation of Statutory and Effective Tax Rates
| Year ended December 31 | 2024 | 2023 | 2022 |
|---|---|---|---|
| Statutory tax rate | 21.0% | 21.0% | 21.0% |
| Increases (decreases) resulting from: | |||
| State taxes net of federal benefit | 3.0 | 2.9 | 2.7 |
| Tax-exempt interest | (1.4) | (1.7) | (1.2) |
| Life insurance | (0.9) | (0.9) | (0.8) |
| Tax credits | (5.0) | (5.2) | (3.2) |
| Other | 1.1 | 0.1 | (0.3) |
| Effective tax rate | 17.8% | 16.2% | 18.2% |
The PNC Financial Services Group, Inc. –2024 Form 10-K 173
The net operating loss carryforwards at December 31, 2024 and 2023 follow:
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