PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Sep 30, 2025. Filed Nov 3, 2025.
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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.
Sep 30, 2025 · Filed Nov 3, 2025
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Reconciliation of Taxable-Equivalent Net Interest Income (non-GAAP)
Table 35: Reconciliation of Taxable-Equivalent Net Interest Income (non-GAAP) (a)
| Nine months ended | Three months ended | |||
|---|---|---|---|---|
| In millions | September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 |
| Net interest income (GAAP) | $10,679 | $9,976 | $3,648 | $3,410 |
| Taxable-equivalent adjustments | 86 | 101 | 30 | 33 |
| Net interest income (non-GAAP) | $10,765 | $10,077 | $3,678 | $3,443 |
(a)The interest income earned on certain interest-earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use interest income on a taxable-equivalent basis by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. This adjustment is not permitted under GAAP.
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