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Segment Reporting
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
We have three reportable business segments:
•Retail Banking
•Corporate & Institutional Banking
•Asset Management Group

Results of individual businesses are presented based on our internal management reporting practices. There is no comprehensive, authoritative body of guidance for management accounting equivalent to GAAP; therefore, the financial results of our individual businesses are not necessarily comparable with similar information for any other company. We periodically refine our internal methodologies as management reporting practices are enhanced. To the extent significant and practicable, retrospective application of new methodologies is made to prior period reportable business segment results and disclosures to create comparability with the current period.
Total business segment financial results differ from total consolidated net income. These differences are reflected in the “Other” category in Table 78. “Other” includes residual activities that do not meet the criteria for disclosure as a separate reportable business, such as asset and liability management activities, including net securities gains or losses, ACL for investment securities, certain trading activities, certain runoff consumer loan portfolios, private equity investments, intercompany eliminations, certain corporate overhead, tax adjustments that are not allocated to business segments, exited businesses and differences between business segment performance reporting and financial statement reporting (GAAP). Assets, revenue and earnings attributable to foreign activities were not material in the periods presented for comparison.

Financial results are presented, to the extent practicable, as if each business operated on a stand-alone basis. Additionally, we have aggregated the results for corporate support functions within “Other” for financial reporting purposes.

Net interest income in business segment results reflects our internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors.

We have allocated the ALLL and the allowance for unfunded lending related commitments based on the loan exposures within each business segment’s portfolio. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower and economic conditions. Key reserve assumptions are periodically updated.
Business Segment Results

Table 78: Results of Businesses
Three months ended June 30
In millions		Retail BankingCorporate &
Institutional
Banking		Asset
Management
Group		Other Consolidated (a) 
2022
Income Statement
Net interest income $1,662 $1,232 $153 $4 $3,051 
Noninterest income748 968 234 115 2,065 
Total revenue2,410 2,200 387 119 5,116 
Provision for (recapture of) credit losses55 (17)5 (7)36 
Depreciation and amortization83 51 8 147 289 
Other noninterest expense1,830 883 262 (20)2,955 
Income (loss) before income taxes (benefit) and noncontrolling interests442 1,283 112 (1)1,836 
Income taxes (benefit) 105 277 26 (68)340 
Net income 337 1,006 86 67 1,496 
Less: Net income (loss) attributable to noncontrolling interests15 3 (3)15 
Net income excluding noncontrolling interests$322 $1,003 $86 $70 $1,481 
Average Assets $113,068 $219,513 $14,449 $199,848 $546,878 
2021
Income Statement
Net interest income$1,497 $1,083 $112 $(111)$2,581 
Noninterest income706 867 244 269 2,086 
Total revenue2,203 1,950 356 158 4,667 
Provision for (recapture of) credit losses214 104 23 (39)302 
Depreciation and amortization73 51 5 127 256 
Other noninterest expense1,604 762 214 214 2,794 
Income (loss) before income taxes (benefit) and noncontrolling interests312 1,033 114 (144)1,315 
Income taxes (benefit) 73 220 27 (108)212 
Net income (loss)239 813 87 (36)1,103 
Less: Net income attributable to noncontrolling interests7 4 1 12 
Net income (loss) excluding noncontrolling interests$232 $809 $87 $(37)$1,091 
Average Assets $100,948 $181,770 $10,640 $211,071 $504,429 
(Continued from previous page)
Six months ended June 30
In millions		Retail
Banking		Corporate &
Institutional
Banking		Asset
Management
Group		OtherConsolidated (a) 
2022
Income Statement
Net interest income $3,193 $2,375 $291 $(4)$5,855 
Noninterest income1,493 1,772 482 206 3,953 
Total revenue4,686 4,147 773 202 9,808 
Provision for (recapture of) credit losses(26)(135)7 (18)(172)
Depreciation and amortization157 103 14 292 566 
Other noninterest expense3,648 1,668 507 27 5,850 
Income (loss) before income taxes (benefit) and noncontrolling interests907 2,511 245 (99)3,564 
Income taxes (benefit)214 545 57 (177)639 
Net income693 1,966 188 78 2,925 
Less: Net income (loss) attributable to noncontrolling interests31 7 (2)36 
Net income excluding noncontrolling interests$662 $1,959 $188 $80 $2,889 
Average Assets $112,415 $210,171 $14,126 $212,415 $549,127 
2021
Income Statement
Net interest income$2,859 $2,074 $205 $(209)$4,929 
Noninterest income1,360 1,674 473 451 3,958 
Total revenue4,219 3,748 678 242 8,887 
Provision for (recapture of) credit losses(43)(178)14 (42)(249)
Depreciation and amortization136 98 9 247 490 
Other noninterest expense3,017 1,426 412 279 5,134 
Income (loss) before income taxes (benefit) and noncontrolling interests1,109 2,402 243 (242)3,512 
Income taxes (benefit)256 528 57 (258)583 
Net income853 1,874 186 16 2,929 
Less: Net income attributable to noncontrolling interests14 7 1 22 
Net income excluding noncontrolling interests$839 $1,867 $186 $15 $2,907 
Average Assets $96,942 $176,182 $9,761 $203,540 $486,425 
(a)There were no material intersegment revenues for the three and six months ended June 30, 2022 and 2021.
Business Segment Products and Services
Retail Banking provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. As a result of the BBVA acquisition, we have become a coast-to-coast retail bank. Our national expansion strategy is designed to grow customers with digitally-led banking and a thin branch network as we expand into new markets. Deposit products include checking, savings and money market accounts and certificates of deposit. Lending products include residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans and personal and small business loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to agency and/or third-party standards, and either sold, servicing retained or held on our balance sheet. Brokerage, investment management and cash management products and services include managed, education, retirement and trust accounts.

Corporate & Institutional Banking provides lending, treasury management and capital markets related products and services to mid-sized and large corporations, and government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. The Treasury Management business provides corporations with cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services and access to online/mobile information management and reporting services. Within Treasury Management, PNC Global Transfers provides wholesale money transfer processing capabilities between the U.S., Mexico and other countries primarily in Central and South America. Capital markets related products and services include foreign exchange, derivatives, fixed income, securities underwriting, loan syndications, mergers and acquisitions advisory and equity capital markets advisory related services. We also provide commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are provided nationally.

Asset Management Group provides private banking for high net worth and ultra high net worth clients and institutional asset management. The Asset Management group is composed of two distinct operating units:
•PNC Private Bank provides products and services to emerging affluent, high net worth and ultra high net worth individuals and their families including investment and retirement planning, customized investment management, credit and cash management solutions, trust management and administration. In addition, multi-generational family planning services are also provided to ultra high net worth individuals and their families which include estate, financial, tax, fiduciary and customized performance reporting through PNC Private Bank Hawthorn.
•Institutional Asset Management provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, retirement plan fiduciary investment services to institutional clients including corporations, healthcare systems, insurance companies, unions, municipalities and non-profits.