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PNC » Topics » N OTE 10 E ARNINGS P ER S HARE

This excerpt taken from the PNC 10-Q filed Aug 8, 2008.

NOTE 11 EARNINGS PER SHARE

Basic and diluted earnings per common share calculations follow:

 

     Three months ended
June 30		    Six months ended
June 30
In millions, except share and per share data    2008    2007    2008    2007

CALCULATION OF BASIC EARNINGS PER COMMON SHARE

            

Net income applicable to basic earnings per common share (a)

    $505    $423    $882    $882

Basic weighted-average common shares outstanding (in thousands)

    344,069    342,315    341,633    325,341

Basic earnings per common share

    $1.47    $1.24    $2.58    $2.71

(a)    Preferred dividends declared were less than $.5 million for each period.

            

CALCULATION OF DILUTED EARNINGS PER COMMON SHARE (b) (c)

            

Net income

    $505    $423    $882    $882

Less: BlackRock adjustment for common stock equivalents

    2    2    6    4

Net income applicable to diluted earnings per common share

    $503    $421    $876    $878

Basic weighted-average common shares outstanding (in thousands)

    344,069    342,315    341,633    325,341

Conversion of preferred stock Series A and B

    63    65    63    65

Conversion of preferred stock Series C and D

    505    551    512    557

Conversion of debentures

    1    2    1    2

Exercise of stock options

    1,136    1,841    1,074    1,927

Incentive/performance unit share and restricted stock/unit awards

    1,137    1,175    1,230    1,228

Diluted weighted-average common shares outstanding (in thousands)

    346,911    345,949    344,513    329,120

Diluted earnings per common share

    $1.45    $1.22    $2.54    $2.67

(b)    Excludes stock options considered to be anti-dilutive (in thousands)

    6,329    4,389    6,676    4,389

(c)    Excludes exchangeable senior notes considered to be anti-dilutive (in thousands)

       7,779       7,779

 

66

Table of Contents
This excerpt taken from the PNC 10-Q filed May 12, 2008.

NOTE 11 EARNINGS PER SHARE

Basic and diluted earnings per common share calculations follow:

 

    

Three months ended

March 31

In millions, except share and per share data    2008    2007

CALCULATION OF BASIC EARNINGS PER COMMON SHARE

      

Net income applicable to basic earnings per common share (a)

    $377    $459

Basic weighted-average common shares outstanding (in thousands)

    339,196    308,170

Basic earnings per common share

    $1.11    $1.49

(a)    Preferred dividends declared were less than $.5 million for each period.

      

CALCULATION OF DILUTED EARNINGS PER COMMON SHARE (b) (c)

      

Net income

    $377    $459

Less: BlackRock adjustment for common stock equivalents

    4    2

Net income applicable to diluted earnings per common share

    $373    $457

Basic weighted-average common shares outstanding (in thousands)

    339,196    308,170

Conversion of preferred stock Series A and B

    64    65

Conversion of preferred stock Series C and D

    518    562

Conversion of debentures

    2    2

Exercise of stock options

    1,001    1,969

Incentive/performance unit share and restricted stock/unit awards

    1,146    1,146

Diluted weighted-average common shares outstanding (in thousands)

    341,927    311,914

Diluted earnings per common share

    $1.09    $1.46

(b)    Excludes stock options considered to be anti-dilutive (in thousands)

    8,061    4,826

(c)    Excludes exchangeable senior notes considered to be anti-dilutive (in thousands)

       7,779

 

64

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

NOTE 20 EARNINGS PER SHARE

The following table sets forth basic and diluted earnings per common share calculations:

 

Year ended December 31 - in millions, except share and per share data    2007    2006    2005

CALCULATION OF BASIC EARNINGS PER COMMON SHARE

         

Net income

    $1,467    $2,595    $1,325

Less: Preferred dividends declared

         1    1

Net income applicable to basic earnings per common share

    $1,467    $2,594    $1,324

Basic weighted-average common shares outstanding (in thousands)

    331,300    291,758    286,276

Basic earnings per common share

    $4.43    $8.89    $4.63

CALCULATION OF DILUTED EARNINGS PER COMMON SHARE (a)

         

Net income

    $1,467    $2,595    $1,325

Less: BlackRock adjustment for common stock equivalents

    8    6    7

Net income applicable to diluted earnings per common share

    $1,459    $2,589    $1,318

Basic weighted-average common shares outstanding (in thousands)

    331,300    291,758    286,276

Weighted-average common shares to be issued using average market price and assuming:

         

Conversion of preferred stock Series A and B

    65    70    78

Conversion of preferred stock Series C and D

    542    584    618

Conversion of debentures

    2    2    2

Exercise of stock options

    1,774    2,178    1,178

Incentive/performance unit share and restricted stock/unit awards

    1,474    1,930    1,688

Diluted weighted-average common shares outstanding (in thousands)

    335,157    296,522    289,840

Diluted earnings per common share

    $4.35    $8.73    $4.55

(a) Excludes stock options considered to be anti-dilutive (in thousands)

    4,135    4,230    10,532

 

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

NOTE 19 EARNINGS PER SHARE

The following table sets forth basic and diluted earnings per common share calculations:

 

Year ended December 31 - in millions, except share and per share data    2006    2005    2004

CALCULATION OF BASIC EARNINGS PER COMMON SHARE

         

Net income

    $2,595    $1,325    $1,197

Less: Preferred dividends declared

    1    1    1

Net income applicable to basic earnings per common share

    $2,594    $1,324    $1,196

Basic weighted-average common shares outstanding (in thousands)

    291,758    286,276    281,248

Basic earnings per common share

    $8.89    $4.63    $4.25

CALCULATION OF DILUTED EARNINGS PER COMMON SHARE (a)

         

Net income

    $2,595    $1,325    $1,197

Less: BlackRock adjustment for common stock equivalents

    6    7    4

Net income applicable to diluted earnings per common share

    $2,589    $1,318    $1,193

Basic weighted-average common shares outstanding (in thousands)

    291,758    286,276    281,248

Weighted-average common shares to be issued using average market price and assuming:

         

Conversion of preferred stock Series A and B

    70    78    85

Conversion of preferred stock Series C and D

    584    618    663

Conversion of debentures

    2    2    10

Exercise of stock options

    2,178    1,178    992

Incentive share awards

    1,930    1,688    634

Diluted weighted-average common shares outstanding (in thousands)

    296,522    289,840    283,632

Diluted earnings per common share

    $8.73    $4.55    $4.21

(a) Excludes stock options considered to be anti-dilutive (in thousands)

    4,230    10,532    10,762

 

107

Table of Contents
This excerpt taken from the PNC 10-Q filed May 9, 2007.

NOTE 10 EARNINGS PER SHARE

Basic and diluted earnings per common share calculations follow:

 

     Three months ended March 31
In millions, except share and per share data    2007    2006

CALCULATION OF BASIC EARNINGS PER COMMON SHARE

      

Net income applicable to basic earnings per common share (a)

    $459    $354

Basic weighted-average common shares outstanding (in thousands)

    308,170    292,027

Basic earnings per common share

    $1.49    $1.21

(a)    Preferred dividends declared were less than $.5 million for each period.

      

CALCULATION OF DILUTED EARNINGS PER COMMON SHARe (b) (c)

      

Net income

    $459    $354

Less: BlackRock adjustment for common stock equivalents

    2    2

Net income applicable to diluted earnings per common share

    $457    $352

Basic weighted-average common shares outstanding (in thousands)

    308,170    292,027

Conversion of preferred stock Series A and B

    65    75

Conversion of preferred stock Series C and D

    562    593

Conversion of debentures

    2    2

Exercise of stock options

    1,969    2,169

Incentive/performance unit share and restricted stock/unit awards

    1,146    1,412

Diluted weighted-average common shares outstanding (in thousands)

    311,914    296,278

Diluted earnings per common share

    $1.46    $1.19

(b)    Excludes stock options considered to be anti-dilutive (in thousands)

    4,826    4,930

(c)    Excludes exchangeable senior notes considered to be anti-dilutive (in thousands)

    7,779    —  

 

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

NOTE 19 EARNINGS PER SHARE

The following table sets forth basic and diluted earnings per common share calculations:

 

Year ended December 31 - in millions, except share and per share data    2006    2005    2004

CALCULATION OF BASIC EARNINGS PER COMMON SHARE

         

Net income

    $2,595    $1,325    $1,197

Less: Preferred dividends declared

    1    1    1

Net income applicable to basic earnings per common share

    $2,594    $1,324    $1,196

Basic weighted-average common shares outstanding (in thousands)

    291,758    286,276    281,248

Basic earnings per common share

    $8.89    $4.63    $4.25

CALCULATION OF DILUTED EARNINGS PER COMMON SHARE (a)

         

Net income

    $2,595    $1,325    $1,197

Less: BlackRock adjustment for common stock equivalents

    6    7    4

Net income applicable to diluted earnings per common share

    $2,589    $1,318    $1,193

Basic weighted-average common shares outstanding (in thousands)

    291,758    286,276    281,248

Weighted-average common shares to be issued using average market price and assuming:

         

Conversion of preferred stock Series A and B

    70    78    85

Conversion of preferred stock Series C and D

    584    618    663

Conversion of debentures

    2    2    10

Exercise of stock options

    2,178    1,178    992

Incentive share awards

    1,930    1,688    634

Diluted weighted-average common shares outstanding (in thousands)

    296,522    289,840    283,632

Diluted earnings per common share

    $8.73    $4.55    $4.21

(a) Excludes stock options considered to be anti-dilutive (in thousands)

    4,230    10,532    10,762

 

107

Table of Contents
This excerpt taken from the PNC 10-Q filed Aug 9, 2006.

NOTE 10 EARNINGS PER SHARE

Basic and diluted earnings per common share calculations follow:

 

     Three months ended June 30    Six months ended June 30
In millions, except share and per share data    2006    2005    2006    2005

CALCULATION OF BASIC EARNINGS PER COMMON SHARE

            

Net income applicable to basic earnings per common share (a)

    $381    $282    $735    $636

Basic weighted-average common shares outstanding (in thousands)

    292,674    284,900    292,352    283,106

Basic earnings per common share

    $1.30    $.99    $2.51    $2.25

CALCULATION OF DILUTED EARNINGS PER COMMON SHARE (b)

            

Net income

    $381    $282    $735    $636

Less: BlackRock adjustment for common stock equivalents

    1    1    3    2

Net income applicable to diluted earnings per common share

    $380    $281    $732    $634

Basic weighted-average common shares outstanding (in thousands)

    292,674    284,900    292,352    283,106

Conversion of preferred stock Series A and B

    72    78    73    80

Conversion of preferred stock Series C and D

    588    623    591    627

Conversion of debentures

    2    2    2    2

Exercise of stock options

    2,027    897    2,136    909

Incentive share awards

    1,549    1,335    1,583    1,296

Diluted weighted-average common shares outstanding (in thousands)

 

    296,912

 

    287,835

 

    296,737

 

    286,020

 

Diluted earnings per common share

    $1.28    $.98    $2.47    $2.22

(a)    Preferred dividends declared were less than $.5 million for each period.

            

(b)    Excludes stock options considered to be anti-dilutive (in thousands)

   4,600    13,160    4,610    13,192

 

55

Table of Contents

EXCERPTS ON THIS PAGE:

10-Q
Aug 8, 2008
10-Q
May 12, 2008
10-K
Feb 29, 2008
10-K
Feb 4, 2008
10-Q
May 9, 2007
10-K
Mar 1, 2007
10-Q
Aug 9, 2006

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