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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Net Operating Loss Carryforwards
Table 109: Net Operating Loss Carryforwards
| Dollars in millions | December 31, 2025 | December 31, 2024 | Expiration |
|---|---|---|---|
| Net Operating Loss Carryforwards (a): | |||
| State | $582 | $585 | 2026-2039 |
(a)There wereno federal net operating loss carryforwards at December 31, 2025 or 2024.
The PNC Financial Services Group, Inc. –2025 Form 10-K 161
The majority of tax credit carryforwards expire in 2030-2045 and were insignificant at both December 31, 2025 and 2024. We anticipate that we will be able to fully utilize our tax credit carryforwards. Some state net operating loss carryforwards are from acquired entities and utilization is subject to various statutory limitations.
Retained earnings included $0.1 billion at both December 31, 2025 and 2024 in allocations for bad debt deductions of former thrift subsidiaries for which no income tax has been provided. Under current law, if certain subsidiaries use these bad debt reserves for purposes other than to absorb bad debt losses, they will be subject to Federal income tax at the current corporate tax rate.
A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows:
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