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Total Equity and Other Comprehensive Income (Tables)
 3 Months Ended
Mar. 31, 2018
Other Comprehensive Income [Abstract]  
Rollforward of Total Equity
Table 69: Rollforward of Total Equity
 
 
 
Shareholders’ Equity
 
  
  
 
In millions
Shares
Outstanding
Common
Stock

 
Common
Stock

Capital
Surplus -
Preferred
Stock

Capital
Surplus -
Common
Stock and
Other

Retained
Earnings

Accumulated
Other
Comprehensive
Income (Loss)

Treasury
Stock

 
Non-
controlling
Interests

Total Equity

 
Balance at January 1, 2017
485

 
$
2,709

$
3,977

$
12,674

$
31,670

$
(265
)
$
(5,066
)
 
$
1,155

$
46,854

 
Net income
 
 
 
 
 
1,057

 
 
 
17

1,074

 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
(14
)
 
 
 
(14
)
 
Cash dividends declared
 
 
 
 
 
 
 
 
 
 


 
Common ($.55 per share)
 
 
 
 
 
(271
)
 
 
 
 
(271
)
 
Preferred
 
 
 
 
 
(63
)
 
 
 
 
(63
)
 
Preferred stock discount accretion
 
 
 
2

 
(2
)
 
 
 
 


 
Redemption of noncontrolling interests (a)
 
 


 


(19
)
 
 
 
(981
)
(1,000
)
 
Treasury stock activity (b)


 
 
 
(216
)
 
 
(257
)
 
 
(473
)
 
Other
 
 
 
 
(162
)
 
 
 
 
(42
)
(204
)
 
Balance at March 31, 2017 (c)
485

 
$
2,709

$
3,979

$
12,296

$
32,372

$
(279
)
$
(5,323
)
 
$
149

$
45,903

 
Balance at December 31, 2017
473

 
$
2,710

$
3,985

$
12,389

$
35,481

$
(148
)
$
(6,904
)
 
$
72

$
47,585

 
Cumulative effect of ASU adoptions (d)
 
 
 
 
 
(22
)
6

 
 
 
(16
)
 
Balance at January 1, 2018
473

 
$
2,710

$
3,985

$
12,389

$
35,459

$
(142
)
$
(6,904
)
 
$
72

$
47,569

 
Net income
 
 
 
 
 
1,229

 
 
 
10

1,239

 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
(557
)
 
 
 
(557
)
 
Cash dividends declared
 
 
 
 
 
 
 
 
 
 
 
 
Common ($.75 per share)
 
 
 
 
 
(358
)
 
 
 
 
(358
)
 
Preferred
 
 
 
 
 
(63
)
 
 
 
 
(63
)
 
Preferred stock discount accretion
 
 
 
1

 
(1
)
 
 
 
 
 
 
Treasury stock activity
(3
)
 
 
 
6

 
 
(631
)
 
 
(625
)
 
Other
 
 
 
 
(154
)
 
 
 
 
(16
)
(170
)
 
Balance at March 31, 2018 (c)
470

 
$
2,710

$
3,986

$
12,241

$
36,266

$
(699
)
$
(7,535
)
 
$
66

$
47,035

 
(a)
See Note 15 Equity in our 2017 Form 10-K for additional information on the redemption of Perpetual Trust Securities.
(b)
Treasury stock activity totaled less than .5 million shares issued.
(c)
The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation.
(d)
Represents the cumulative effect of adopting ASU 2014-09, ASU 2016-01, ASU 2017-12 and ASU 2018-02. See the Recently Adopted Accounting Standards portion of Note 1 Accounting Policies in this Report for additional detail on the adoption of these ASUs.
Other Comprehensive Income
Details of other comprehensive income (loss) are as follows:
Table 70: Other Comprehensive Income
 
 
Three months ended
March 31
 
In millions
 
2018

2017

 
Net unrealized gains (losses) on non-OTTI securities
 
 
 
 
Increase in net unrealized gains (losses) on non-OTTI securities
 
$
(645
)
$
67

 
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income
 
4

5

 
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income
 
(3
)
(7
)
 
Net increase (decrease), pre-tax
 
(646
)
69

 
Effect of income taxes
 
150

(25
)
 
Net increase (decrease), after-tax
 
(496
)
44

 
Net unrealized gains (losses) on OTTI securities
 
 
 
 
Increase in net unrealized gains (losses) on OTTI securities
 
14

37

 
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income
 
 
2

 
Net increase (decrease), pre-tax
 
14

35

 
Effect of income taxes
 
(4
)
(13
)
 
Net increase (decrease), after-tax
 
10

22

 
Net unrealized gains (losses) on cash flow hedge derivatives
 
 
 
 
Increase in net unrealized gains (losses) on cash flow hedge derivatives
 
(161
)
(22
)
 
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income
 
26

46

 
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income
 
4

6

 
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income
 
2

3

 
Net increase (decrease), pre-tax
 
(193
)
(77
)
 
Effect of income taxes
 
44

28

 
Net increase (decrease), after-tax
 
(149
)
(49
)
 
Pension and other postretirement benefit plan adjustments
 
 
 
 
Net pension and other postretirement benefit activity
 
61

(74
)
 
Amortization of actuarial loss (gain) reclassified to other noninterest expense
 
1

13

 
Amortization of prior service cost (credit) reclassified to other noninterest expense
 
1

(1
)
 
Net increase (decrease), pre-tax
 
63

(62
)
 
Effect of income taxes
 
(15
)
23

 
Net increase (decrease), after-tax
 
48

(39
)
 
Other
 
 
 
 
PNC’s portion of BlackRock’s OCI
 
22

2

 
Net investment hedge derivatives
 
(39
)
(14
)
 
Foreign currency translation adjustments and other
 
44

16

 
Net increase (decrease), pre-tax
 
27

4

 
Effect of income taxes
 
3

4

 
Net increase (decrease), after-tax
 
30

8

 
Total other comprehensive income, pre-tax
 
(735
)
(31
)
 
Total other comprehensive income, tax effect
 
178

17

 
Total other comprehensive income, after-tax
 
$
(557
)
$
(14
)
 
Accumulated Other Comprehensive Income (Loss) Components
Table 71: Accumulated Other Comprehensive Income (Loss) Components
 
In millions, after-tax
Net unrealized gains (losses) on non-OTTI securities

 
Net unrealized gains (losses) on OTTI securities

 
Net unrealized gains (losses) on cash flow hedge derivatives

 
Pension and other postretirement benefit plan adjustments

 
Other

 
Total

 
Balance at December 31, 2016
$
52

 
$
106

 
$
333

 
$
(553
)
 
$
(203
)
 
$
(265
)
 
Net activity
44

 
22

 
(49
)
 
(39
)
 
8

 
(14
)
 
Balance at March 31, 2017
$
96

 
$
128

 
$
284

 
$
(592
)
 
$
(195
)
 
$
(279
)
 
Balance at December 31, 2017
$
62

 
$
215

 
$
151

 
$
(446
)
 
$
(130
)
 
$
(148
)
 
Cumulative effect of adopting ASU 2018-02 (a)
59

 
 
 
33

 
(96
)
 
10

 
6

 
Balance at January 1, 2018
$
121

 
$
215

 
$
184

 
$
(542
)
 
$
(120
)
 
$
(142
)
 
Net activity
(496
)
 
10

 
(149
)
 
48

 
30

 
(557
)
 
Balance at March 31, 2018
$
(375
)
 
$
225

 
$
35

 
$
(494
)
 
$
(90
)
 
$
(699
)
 

(a)
Represents the cumulative impact of adopting ASU 2018-02 which permits the reclassification to retained earnings of the income tax effects stranded within AOCI. See the Recently Adopted Accounting Standards portion of Note 1 Accounting Policies in this Report for additional detail on this adoption.