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Total Equity and Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 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
 
 
 
 
 
2,144

 
 
 
27

2,171

 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
167

 
 
 
167

 
Cash dividends declared
 
 
 
 
 
 
 
 
 
 


 
Common ($1.10 per share)
 
 
 
 
 
(540
)
 
 
 
 
(540
)
 
Preferred
 
 
 
 
 
(118
)
 
 
 
 
(118
)
 
Preferred stock discount accretion
 
 
 
4

 
(4
)
 
 
 
 


 
Redemption of noncontrolling interests (a)
 
 
 
 
 
(19
)
 
 
 
(981
)
(1,000
)
 
Common stock activity (b)
 
 
1

 
9

 
 
 
 
 
10

 
Treasury stock activity
(5
)
 
 
 
(232
)
 
 
(921
)
 
 
(1,153
)
 
Other
 
 
 
 
(106
)
 
 
 
 
(100
)
(206
)
 
Balance at June 30, 2017 (c)
480

 
$
2,710

$
3,981

$
12,345

$
33,133

$
(98
)
$
(5,987
)
 
$
101

$
46,185

 
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
 
 
 
 
 
2,575

 
 
 
20

2,595

 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
(798
)
 
 
 
(798
)
 
Cash dividends declared
 
 
 
 
 
 
 
 
 
 
 
 
Common ($1.50 per share)
 
 
 
 
 
(713
)
 
 
 
 
(713
)
 
Preferred
 
 
 
 
 
(118
)
 
 
 
 
(118
)
 
Preferred stock discount accretion
 
 
 
2

 
(2
)
 
 
 
 
 
 
Common stock activity (b)
 
 
 
 
9

 
 
 
 
 
9

 
Treasury stock activity
(8
)
 
 
 
(26
)
 
 
(1,413
)
 
 
(1,439
)
 
Other
 
 
 
 
(109
)
 
 
 
 
(21
)
(130
)
 
Balance at June 30, 2018 (c)
465

 
$
2,710

$
3,987

$
12,263

$
37,201

$
(940
)
$
(8,317
)
 
$
71

$
46,975

 
(a)
See Note 15 Equity in our 2017 Form 10-K for additional information on the redemption of Perpetual Trust Securities.
(b)
Common 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 our First Quarter 2018 Form 10-Q for additional detail on the adoption of these ASUs.
Other Comprehensive Income
Table 70: Other Comprehensive Income
 
Three months ended
June 30
 
 
Six months ended
June 30
 
In millions
2018

2017

 
 
2018

2017

 
Net unrealized gains (losses) on non-OTTI securities
 
 
 
 
 
 
 
Increase in net unrealized gains (losses) on non-OTTI securities
$
(161
)
$
169

 
 
$
(806
)
$
236

 
Less: Net gains (losses) realized as a yield adjustment reclassified to investment
    securities interest income
2

5

 
 
6

10

 
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income
(8
)
13

 
 
(11
)
6

 
Net increase (decrease), pre-tax
(155
)
151

 
 
(801
)
220

 
Effect of income taxes
36

(58
)
 
 
186

(83
)
 
Net increase (decrease), after-tax
(119
)
93

 
 
(615
)
137

 
Net unrealized gains (losses) on OTTI securities
 
 
 
 
 
 
 
Increase in net unrealized gains (losses) on OTTI securities
3

61

 
 
17

98

 
Less: OTTI losses realized on securities reclassified to noninterest income
 
(1
)
 
 


(1
)
 
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income
 


 
 
 
2

 
Net increase (decrease), pre-tax
3

62

 
 
17

97

 
Effect of income taxes
(1
)
(24
)
 
 
(5
)
(37
)
 
Net increase (decrease), after-tax
2

38

 
 
12

60

 
Net unrealized gains (losses) on cash flow hedge derivatives
 
 
 
 
 
 
 
Increase in net unrealized gains (losses) on cash flow hedge derivatives
(94
)
39

 
 
(255
)
17

 
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income
11

44

 
 
37

90

 
Less: Net gains (losses) realized as a yield adjustment reclassified to investment
    securities interest income
3

5

 
 
7

11

 
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income
5



 
 
7

3

 
Net increase (decrease), pre-tax
(113
)
(10
)
 
 
(306
)
(87
)
 
Effect of income taxes
26

4

 
 
70

32

 
Net increase (decrease), after-tax
(87
)
(6
)
 
 
(236
)
(55
)
 
Pension and other postretirement benefit plan adjustments
 
 
 
 
 
 
 
Net pension and other postretirement benefit activity
5

36

 
 
66

(38
)
 
Amortization of actuarial loss (gain) reclassified to other noninterest expense
1

11

 
 
2

24

 
Amortization of prior service cost (credit) reclassified to other noninterest expense
 
(2
)
 
 
1

(3
)
 
Net increase (decrease), pre-tax
6

45

 
 
69

(17
)
 
Effect of income taxes
(1
)
(17
)
 
 
(16
)
6

 
Net increase (decrease), after-tax
5

28

 
 
53

(11
)
 
Other
 
 
 
 
 
 
 
PNC’s portion of BlackRock’s OCI
(37
)
20

 
 
(15
)
22

 
Net investment hedge derivatives
69

(36
)
 
 
30

(50
)
 
Foreign currency translation adjustments and other
(67
)
38

 
 
(23
)
54

 
Net increase (decrease), pre-tax
(35
)
22

 
 
(8
)
26

 
Effect of income taxes
(7
)
6

 
 
(4
)
10

 
Net increase (decrease), after-tax
(42
)
28

 
 
(12
)
36

 
Total other comprehensive income, pre-tax
(294
)
270

 
 
(1,029
)
239

 
Total other comprehensive income, tax effect
53

(89
)
 
 
231

(72
)
 
Total other comprehensive income, after-tax
$
(241
)
$
181

 
 
$
(798
)
$
167

 
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 March 31, 2017
$
96

 
$
128

 
$
284

 
$
(592
)
 
$
(195
)
 
$
(279
)
 
Net activity
93

 
38

 
(6
)
 
28

 
28

 
181

 
Balance at June 30, 2017
$
189

 
$
166

 
$
278

 
$
(564
)
 
$
(167
)
 
$
(98
)
 
Balance at March 31, 2018
$
(375
)
 
$
225

 
$
35

 
$
(494
)
 
$
(90
)
 
$
(699
)
 
Net activity
(119
)
 
2

 
(87
)
 
5

 
(42
)
 
(241
)
 
Balance at June 30, 2018
$
(494
)
 
$
227

 
$
(52
)
 
$
(489
)
 
$
(132
)
 
$
(940
)
 
Balance at December 31, 2016
$
52

 
$
106

 
$
333

 
$
(553
)
 
$
(203
)
 
$
(265
)
 
Net activity
137

 
60

 
(55
)
 
(11
)
 
36

 
167

 
Balance at June 30, 2017
$
189

 
$
166

 
$
278

 
$
(564
)
 
$
(167
)
 
$
(98
)
 
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
(615
)
 
12

 
(236
)
 
53

 
(12
)
 
(798
)
 
Balance at June 30, 2018
$
(494
)
 
$
227

 
$
(52
)
 
$
(489
)
 
$
(132
)
 
$
(940
)
 

(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 our First Quarter 2018 Form 10-Q for additional detail on this adoption.