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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Reconciliation of Taxable-Equivalent Net Interest Income (non-GAAP)
Table 38: Reconciliation of Taxable-Equivalent Net Interest Income (non-GAAP) (a)
| Year ended December 31In millions | |||
|---|---|---|---|
| 2025 · 2024 · 2023 | |||
| Net interest income (GAAP) | $14,410 | $13,499 | $13,916 |
| Taxable-equivalent adjustments | 117 | 131 | 147 |
| Net interest income (non-GAAP) | $14,527 | $13,630 | $14,063 |
(a)The interest income earned on certain 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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