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PNC » Topics » Balance Sheets

This excerpt taken from the PNC 8-K filed Dec 2, 2008.

Balance Sheets

 

     December 31

(In Thousands)

    2007    2006

Assets

      

Cash and demand balances due from banks

    $ 1,279,310    $ 1,315,479

Loans to and receivables from subsidiaries

      1,109,582      3,048,331

Securities

      205,573      219,952

Other investments

      13,272      192,398

Investments in:

      

Subsidiary banks

      15,026,150      12,735,292

Nonbank subsidiaries

      583,645      346,770

Goodwill

      121,670      117,471

Derivative assets

      81,723      67,632

Other assets

      914,572      705,035
             

Total Assets

    $ 19,335,497    $ 18,748,360
             

Liabilities and Stockholders’ Equity

      

Long-term debt

    $ 2,868,512    $ 2,308,802

Borrowed funds from subsidiaries

      1,899,683      948,705

Derivative liabilities

      23,847      39,858

Indemnification liabilities

      291,680      —  

Accrued expenses and other liabilities

      843,947      869,992
             

Total liabilities

      5,927,669      4,167,357

Stockholders’ equity

      13,407,828      14,581,003
             

Total Liabilities and Stockholders’ Equity

    $ 19,335,497    $ 18,748,360
             

Securities and other investments totaling $102 million at December 31, 2007 were restricted for use in certain nonqualified benefit plans. The borrowed funds from subsidiaries balance includes the junior subordinated debt securities payable to the wholly owned subsidiary trusts (the trusts). The holding company continues to guarantee the capital securities issued by the trusts, which totaled $1.9 billion at December 31, 2007. The holding company also guarantees commercial paper issued by its subsidiary National City Credit Corporation, which borrowings totaled $1.2 billion at December 31, 2007. Additionally, the holding company guarantees certain financial and indemnification obligations of National City Bank under its membership with Visa® and Mastercard® . As of December 31, 2007, the holding company had recognized a $292 million liability related to Visa matters discussed in Note 22.

 

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