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PNC » Topics » OPERATING LEVERAGE (a)

This excerpt taken from the PNC 8-K filed Jan 17, 2008.

OPERATING LEVERAGE (a)

 

YEAR ENDED    December 31, 2007    December 31, 2006    Change  
Dollars in millions    As Reported    As Adjusted (b)    As Reported    As Adjusted (b)    As Reported     As Adjusted  

Net interest income

    $ 2,915    $ 2,915    $ 2,245    $ 2,235     

Noninterest income

      3,790      3,921      6,327      3,572     
                                

Total revenue

    $ 6,705    $ 6,836    $ 8,572    $ 5,807    (22 )%   18 %

Noninterest expense

    $ 4,296    $ 4,112    $ 4,443    $ 3,587    (3 )%   15 %

Operating leverage

                (19 )%   3 %

 

(a) See also the reconciliation of the “As Reported” operating leverage ratio to the “As Adjusted” ratio on page 18. Operating leverage is presented on an annual basis only due to quarterly variations and the impact of seasonality on revenues and expenses.
(b) See adjusted results and related disclosures on page 14.
This excerpt taken from the PNC 8-K filed Jul 19, 2007.

OPERATING LEVERAGE (a)

 

SIX MONTHS ENDED    June 30, 2007    June 30, 2006    Change  

Dollars in millions

    As Reported    As Adjusted (b)    As Reported    As Adjusted (c)    As Reported     As Adjusted  

Net interest income

    $ 1,361    $ 1,361    $ 1,112    $ 1,105     

Noninterest income

                 

Asset management

      355      358      890      257     

Other

      1,611      1,560      1,525      1,492     
                                

Total revenue

    $ 3,327    $ 3,279    $ 3,527    $ 2,854    (6 )%   15 %

Noninterest expense

    $ 1,984    $ 1,958    $ 2,307    $ 1,746    (14 )%   12 %

Operating leverage

                8 %   3 %
(a) See also the reconciliation of the "as reported" operating leverage ratio to the "as adjusted" ratio on page 17.
(b) See (b) on page 13.
(c) See (c) on page 13.

EXCERPTS ON THIS PAGE:

8-K
Jan 17, 2008
8-K
Jul 19, 2007

RELATED TOPICS for PNC:

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