PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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Consolidated Statement of Changes in Equity
| Shareholders’ Equity | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In millions · SharesOutstandingCommonStock · CommonStock · CapitalSurplus -PreferredStock · CapitalSurplus -CommonStock andOther · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · TreasuryStock · NoncontrollingInterests · TotalEquity | |||||||||||||||||
| 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 | — | — | — | — | 5,578 | — | — | 69 | 5,647 | ||||||||
| Other comprehensive income (loss), net of tax | — | — | — | — | — | 2,460 | — | — | 2,460 | ||||||||
| Cash dividends declared - Common | — | — | — | — | (2,461) | — | — | — | (2,461) | ||||||||
| Cash dividends declared - Preferred | — | — | — | — | (417) | — | — | — | (417) | ||||||||
| Preferred stock discount accretion | — | — | 8 | — | (8) | — | — | — | — | ||||||||
| Preferred stock issuance (c) | — | — | 1,487 | — | — | — | — | — | 1,487 | ||||||||
| Common stock activity (d) | — | 2 | — | 30 | — | — | — | — | 32 | ||||||||
| Treasury stock activity | (3) | — | — | 78 | — | — | (493) | — | (415) | ||||||||
| Preferred stock redemption (e) | — | — | (1,000) | — | — | — | — | — | (1,000) | ||||||||
| Other | — | — | — | 41 | — | — | — | (71) | (30) | ||||||||
| Balance at December 31, 2023 (a) | 398 | $2,716 | $6,241 | $12,779 | $56,290 | $(7,712) | $(19,209) | $36 | $51,141 | ||||||||
| Net income | — | — | — | — | 5,889 | — | — | 64 | 5,953 | ||||||||
| Other comprehensive income (loss), net of tax | — | — | — | — | — | 1,147 | — | — | 1,147 | ||||||||
| Cash dividends declared - Common | — | — | — | — | (2,537) | — | — | — | (2,537) | ||||||||
| Cash dividends declared - Preferred | — | — | — | — | (352) | — | — | — | (352) | ||||||||
| Preferred stock discount accretion | — | — | 8 | — | (8) | — | — | — | — | ||||||||
| Common stock activity (d) | — | 1 | — | 31 | — | — | — | — | 32 | ||||||||
| Treasury stock activity | (2) | — | — | 90 | — | — | (510) | — | (420) | ||||||||
| Preferred stock redemption (f) | — | — | (500) | — | — | — | — | — | (500) | ||||||||
| Other | — | — | — | 61 | — | — | — | (56) | 5 | ||||||||
| Balance at December 31, 2024 (a) | 396 | $2,717 | $5,749 | $12,961 | $59,282 | $(6,565) | $(19,719) | $44 | $54,469 | ||||||||
| Net income | — | — | — | — | 6,936 | — | — | 61 | 6,997 | ||||||||
| Other comprehensive income (loss), net of tax | — | — | — | — | — | 3,157 | — | — | 3,157 | ||||||||
| Cash dividends declared - Common | — | — | — | — | (2,635) | — | — | — | (2,635) | ||||||||
| Cash dividends declared - Preferred | — | — | — | — | (308) | — | — | — | (308) | ||||||||
| Preferred stock discount accretion | — | — | 9 | — | (9) | — | — | — | — | ||||||||
| Common stock activity (d) | — | — | — | 35 | — | — | — | — | 35 | ||||||||
| Treasury stock activity | (6) | — | — | 120 | — | — | (1,193) | — | (1,073) | ||||||||
| Other | — | — | — | 48 | — | — | — | (54) | (6) | ||||||||
| Balance at December 31, 2025 (a) | 390 | $2,717 | $5,758 | $13,164 | $63,266 | $(3,408) | $(20,912) | $51 | $60,636 | ||||||||
(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.
(d)Common stock activity totaled less than 0.5 million shares issued.
(e)On November 1, 2023, PNC redeemed all 10,000 shares of its Series O preferred stock, as well as all 1,000,000 depositary shares each representing a fractional interest in such shares.
(f)On December 2, 2024, PNC redeemed all 5,000 shares of its Series R preferred stock, as well as all 500,000 depositary shares each representing a fractional interest in such shares.
The PNC Financial Services Group, Inc. –2025 Form 10-K 87
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