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PNC » Topics » Balance Sheet

This excerpt taken from the PNC 10-K filed Mar 2, 2009.

Balance Sheet

 

December 31 - in millions    2008 (a)    2007

ASSETS

        

Cash and due from banks

    $ 15    $ 20

Short-term investments

      140      58

Investment securities

      164     

Loans (b)

      2,275     

Investments in:

        

Bank subsidiaries and bank holding company

      27,960      15,776

Non-bank subsidiaries

      2,378      2,214

Other assets

      1,821      614

Total assets

    $ 34,753    $ 18,682

LIABILITIES

        

Subordinated debt

    $ 4,122    $ 968

Senior debt

      2,707     

Other borrowed funds

      2     

Nonbank affiliate borrowings

      945      2,478

Accrued expenses and other liabilities

      1,554      382

Total liabilities

      9,330      3,828

Minority and noncontrolling interests in consolidated entities

      1       

SHAREHOLDERS’ EQUITY

      25,422      14,854

Total liabilities, minority and noncontrolling interests, and shareholders’ equity

    $ 34,753    $ 18,682

 

(a) Includes the impact of National City.
(b) Balance represents National City loans with subsidiaries.

Commercial paper and all other debt issued by PNC Funding Corp, a wholly owned finance subsidiary, is fully and unconditionally guaranteed by the parent company. In addition, in connection with certain affiliates’ commercial and residential mortgage servicing operations, the parent company has committed to maintain such affiliates’ net worth above minimum requirements.

The parent company received net income tax refunds of $92 million in 2008, $65 million in 2007 and $35 million in 2006. Such refunds represent the parent company’s portion of consolidated income taxes. The parent company paid interest of $147 million in 2008, $146 million in 2007 and $113 million in 2006.


 

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Table of Contents
This excerpt taken from the PNC 10-K filed Feb 29, 2008.

Balance Sheet

 

December 31 - in millions    2007    2006

ASSETS

        

Cash and due from banks

    $20    $2

Short-term investments with subsidiary bank, including trading securities

   

58

    3

Securities available for sale

       290

Investments in:

        

Bank subsidiaries and bank holding company

    15,776    9,294

Non-bank subsidiaries

    2,214    2,038

Other assets

    614    559

Total assets

    $18,682    $12,186

LIABILITIES

        

Subordinated debt

    $968    $1,147

Nonbank affiliate borrowings

    2,478     

Accrued expenses and other liabilities

    382    251

Total liabilities

    3,828    1,398

SHAREHOLDERS’ EQUITY

    14,854    10,788

Total liabilities and shareholders’ equity

    $18,682    $12,186

 

Commercial paper and all other debt issued by PNC Funding Corp, a wholly owned finance subsidiary, is fully and unconditionally guaranteed by the parent company. In addition, in connection with certain affiliates’ commercial mortgage servicing operations, the parent company has committed to maintain such affiliates’ net worth above minimum requirements.

The parent company received net income tax refunds of $65 million in 2007, $35 million in 2006 and $19 million in 2005. Such refunds represent the parent company’s portion of consolidated income taxes. The parent company paid interest of $146 million in 2007, $113 million in 2006 and $94 million in 2005.

This excerpt taken from the PNC 10-K filed Feb 4, 2008.

Balance Sheet

 

December 31 - in millions    2006    2005

ASSETS

        

Cash and due from banks

    $2    $3

Short-term investments with subsidiary bank

    3     

Securities available for sale

    290    293

Investments in:

        

Bank subsidiaries and bank holding company

    9,294    7,140

Non-bank subsidiaries

    2,038    2,504

Other assets

    559    237

Total assets

    $12,186    $10,177

LIABILITIES

        

Subordinated debt

    $1,147    $1,326

Accrued expenses and other liabilities

    251    288

Total liabilities

    1,398    1,614

SHAREHOLDERS’ EQUITY

    10,788    8,563

Total liabilities and shareholders’ equity

    $12,186    $10,177

 

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Table of Contents

Commercial paper and all other debt issued by PNC Funding Corp, a wholly owned finance subsidiary, is fully and unconditionally guaranteed by the parent company. In addition, in connection with certain affiliates’ commercial mortgage servicing operations, the parent company has committed to maintain such affiliates’ net worth above minimum requirements.

The parent company received net income tax refunds of $35 million in 2006 and $19 million in 2005. Such refunds represent the parent company’s portion of consolidated income taxes. The parent company made income tax payments of $9 million in 2004. The parent company paid interest of $113 million in 2006, $94 million in 2005 and $62 million in 2004.

 

This excerpt taken from the PNC 10-K filed Mar 1, 2007.

Balance Sheet

 

December 31 - in millions    2006    2005

ASSETS

        

Cash and due from banks

    $2    $3

Short-term investments with subsidiary bank

    3     

Securities available for sale

    290    293

Investments in:

        

Bank subsidiaries and bank holding company

    9,294    7,140

Non-bank subsidiaries

    2,038    2,504

Other assets

    559    237

Total assets

    $12,186    $10,177

LIABILITIES

        

Subordinated debt

    $1,147    $1,326

Accrued expenses and other liabilities

    251    288

Total liabilities

    1,398    1,614

SHAREHOLDERS’ EQUITY

    10,788    8,563

Total liabilities and shareholders’ equity

    $12,186    $10,177

 

115

Table of Contents

Commercial paper and all other debt issued by PNC Funding Corp, a wholly owned finance subsidiary, is fully and unconditionally guaranteed by the parent company. In addition, in connection with certain affiliates’ commercial mortgage servicing operations, the parent company has committed to maintain such affiliates’ net worth above minimum requirements.

The parent company received net income tax refunds of $35 million in 2006 and $19 million in 2005. Such refunds represent the parent company’s portion of consolidated income taxes. The parent company made income tax payments of $9 million in 2004. The parent company paid interest of $113 million in 2006, $94 million in 2005 and $62 million in 2004.

 

EXCERPTS ON THIS PAGE:

10-K
Mar 2, 2009
10-K
Feb 29, 2008
10-K
Feb 4, 2008
10-K
Mar 1, 2007

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