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PNC » Topics » Reconciliation of GAAP amounts with amounts used in the calculation of the bank efficiency ratio:

This excerpt taken from the PNC 8-K filed Jul 19, 2006.

Reconciliation of GAAP amounts with amounts used in the calculation of the bank efficiency ratio:

 

     Quarter ended

Dollars in millions

    June 30
2006		    March 31
2006		    December 31
2005		    September 30
2005		    June 30
2005

PNC total revenue, GAAP basis

    $ 1,786    $ 1,741    $ 1,709    $ 1,675    $ 1,463

Less: BlackRock revenue (c)

      365      409      373      320      275

PFPC revenue (c)

      208      218      209      211      212
                                  

Revenue, as adjusted

    $ 1,213    $ 1,114    $ 1,127    $ 1,144    $ 976

PNC noninterest expense, GAAP basis

    $ 1,149    $ 1,171    $ 1,145    $ 1,159    $ 1,040

Less: BlackRock noninterest expense

      264      296      256      221      189

PFPC noninterest expense

      167      173      165      171      173
                                  

Noninterest expense, as adjusted

    $ 718    $ 702    $ 724    $ 767    $ 678
(c) These amounts differ from amounts included on pages 7 and 8 of this financial supplement due to the presentation on pages 7 and 8 of BlackRock revenue on a taxable-equivalent basis and classification differences related to BlackRock and PFPC. Note 13 Segment Reporting in our first quarter 2006 Quarterly Report on Form 10-Q provides further details on these differences.
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