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PNC » Topics » Summary Results

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

Summary Results

Consolidated net income for 2007 was $1.467 billion or $4.35 per diluted share and for 2006 was $2.595 billion or $8.73 per diluted share.

Net income for 2006 included the after-tax impact of the following items:

  •  

The third quarter gain on the BlackRock/MLIM transaction of $1.3 billion, or $4.36 per diluted share;

  •  

The third quarter securities portfolio rebalancing loss of $127 million, or $.43 per diluted share;

  •  

BlackRock/MLIM transaction integration costs of $47 million, or $.16 per diluted share, and

  •  

The third quarter mortgage loan portfolio repositioning loss of $31 million, or $.10 per diluted share.

The aggregate impact of these items increased 2006 net income by $1.1 billion, or $3.67 per diluted share.

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

Summary Results

Consolidated net income for 2006 was $2.595 billion or $8.73 per diluted share and for 2005 was $1.325 billion or $4.55 per diluted share.

Net income for 2006 included the after-tax impact of the following items:

  •  

The third quarter gain on the BlackRock/MLIM transaction of $1.3 billion, or $4.36 per diluted share;

  •  

The third quarter securities portfolio rebalancing loss of $127 million, or $.43 per diluted share;

  •  

BlackRock/MLIM transaction integration costs of $47 million, or $.16 per diluted share, and

  •  

The third quarter mortgage loan portfolio repositioning loss of $31 million, or $.10 per diluted share.

The aggregate impact of these items increased 2006 net income by $1.1 billion, or $3.67 per diluted share.

Results for 2005 included the impact of the following items:

  •  

The reversal of deferred tax liabilities that benefited earnings by $45 million, or $.16 per diluted share, in the first quarter related to our transfer of ownership in BlackRock from PNC Bank, N.A. to our intermediate bank holding company, PNC Bancorp, Inc.;

  •  

Implementation costs totaling $35 million after-tax, or $.12 per diluted share, related to the One PNC initiative;

  •  

The $34 million after-tax benefit of a second quarter 2005 loan recovery; and

  •  

Integration costs of $20 million after-tax, or $.07 per diluted share, comprised of provision for credit losses, noninterest expense and deferred taxes, related to the May 2005 acquisition of Riggs.

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

Summary Results

Consolidated net income for 2005 was $1.325 billion or $4.55 per diluted share and for 2004 was $1.197 billion or $4.21 per diluted share.

Results for 2005 included the impact of the following items:

  •  

The reversal of deferred tax liabilities that benefited earnings by $45 million, or $.16 per diluted share, in the first quarter related to our transfer of ownership in BlackRock from PNC Bank, N.A. to our intermediate bank holding company, PNC Bancorp, Inc.;

  •  

Implementation costs totaling $35 million after-tax, or $.12 per diluted share, related to the One PNC initiative;

  •  

The $34 million after-tax benefit of a second quarter 2005 loan recovery; and

  •  

Integration costs of $20 million after-tax, or $.07 per diluted share, comprised of provision for credit losses, noninterest expense and deferred taxes, related to the May 2005 acquisition of Riggs.

Results for 2004 reflected the impact of charges totaling $49 million after taxes, or $.17 per diluted share, related to the 2002 BlackRock LTIP.

EXCERPTS ON THIS PAGE:

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

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