Total Equity and Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2019

Other Comprehensive Income [Abstract]

Table 66: 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 December 31, 2017 (a)	473		$	2,710	$	3,985	$	12,389		$	35,481		$	(148	)	$	(6,904	)	$	72		$	47,585
Cumulative effect of ASU adoptions (b)										(22		)	6									(16		)
Balance at January 1, 2018 (a)	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										(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 (a)	470		$	2,710	$	3,986	$	12,241		$	36,266		$	(699	)	$	(7,535	)	$	66		$	47,035
Balance at December 31, 2018 (a)	457		$	2,711	$	3,986	$	12,291		$	38,919		$	(725	)	$	(9,454	)	$	42		$	47,770
Cumulative effect of ASU 2016-02 adoption (c)										62												62
Balance at January 1, 2019 (a)	457		$	2,711	$	3,986	$	12,291		$	38,981		$	(725	)	$	(9,454	)	$	42		$	47,832
Net income										1,261									10			1,271
Other comprehensive income (loss), net of tax													720									720
Cash dividends declared
Common										(436		)										(436		)
Preferred										(63		)										(63		)
Preferred stock discount accretion					1					(1		)
Treasury stock activity	(5	)					10									(631		)				(621		)
Other					3		(118		)										(13		)	(128		)
Balance at March 31, 2019 (a)	452		$	2,711	$	3,990	$	12,183		$	39,742		$	(5	)	$	(10,085	)	$	39		$	48,575


(a)	The par value of our preferred stock outstanding was less than $.5 million at each date and, therefore, is excluded from this presentation.


(b)	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 2018 Form 10-K for additional detail on the adoption of these ASUs.


(c)	Represents the impact of the adoption of ASU 2016-02 related primarily to deferred gains on previous sale-leaseback transactions. See the Recently Adopted Accounting Standards portion of Note 1 Accounting Policies in this Report for additional detail.

Dividends Declared

Table 67: Dividends Per Share (a)



	March 31, 2019		March 31, 2018
Common Stock	$	.95	$	.75
Preferred Stock
Series B	$	.45	$	.45
Series O	$	3,375	$	3,375
Series P	$	1,531	$	1,531
Series Q	$	1,344	$	1,344
Series R	—		—
Series S	—		—

(a) Dividends are payable quarterly other than Series O, Series R, and Series S preferred stock, which are payable semiannually, with the Series O payable in different quarters

than the Series R and Series S preferred stock

Other Comprehensive Income (Loss)

Details of other comprehensive income (loss) are as follows:

Table 68: Other Comprehensive Income (Loss)



	Three months ended March 31
In millions	2019			2018
Net unrealized gains (losses) on non-OTTI securities
Increase in net unrealized gains (losses) on non-OTTI securities	$	640		$	(645	)
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income	3			4
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income	(2		)	(3		)
Net increase (decrease), pre-tax	639			(646		)
Effect of income taxes	(147		)	150
Net increase (decrease), after-tax	492			(496		)
Net unrealized gains (losses) on OTTI securities
Increase in net unrealized gains (losses) on OTTI securities	9			14
Net increase (decrease), pre-tax	9			14
Effect of income taxes	(2		)	(4		)
Net increase (decrease), after-tax	7			10
Net unrealized gains (losses) on cash flow hedge derivatives
Increase in net unrealized gains (losses) on cash flow hedge derivatives	108			(161		)
Less: Net gains (losses) realized as a yield adjustment reclassified to loan interest income	(8		)	26
Less: Net gains (losses) realized as a yield adjustment reclassified to investment securities interest income	1			4
Less: Net gains (losses) realized on sales of securities reclassified to noninterest income	15			2
Net increase (decrease), pre-tax	100			(193		)
Effect of income taxes	(23		)	44
Net increase (decrease), after-tax	77			(149		)
Pension and other postretirement benefit plan adjustments
Net pension and other postretirement benefit activity	143			61
Amortization of actuarial loss (gain) reclassified to other noninterest expense	1			1
Amortization of prior service cost (credit) reclassified to other noninterest expense	1			1
Net increase (decrease), pre-tax	145			63
Effect of income taxes	(33		)	(15		)
Net increase (decrease), after-tax	112			48
Other
PNC’s portion of BlackRock’s OCI	29			22
Net investment hedge derivatives	(18		)	(39		)
Foreign currency translation adjustments and other	23			44
Net increase (decrease), pre-tax	34			27
Effect of income taxes	(2		)	3
Net increase (decrease), after-tax	32			30
Total other comprehensive income (loss), pre-tax	927			(735		)
Total other comprehensive income (loss), tax effect	(207		)	178
Total other comprehensive income (loss), after-tax	$	720		$	(557	)

Accumulated Other Comprehensive Income (Loss) Components

Table 69: 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, 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	)
Balance at December 31, 2018	$	(284	)	$	204	$	47		$	(530	)	$	(162	)	$	(725	)
Net activity	492			7		77			112			32			720
Balance at March 31, 2019	$	208		$	211	$	124		$	(418	)	$	(130	)	$	(5	)


(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 2018 Form 10-K for additional detail on this adoption.