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Consolidated Statement of Changes in Equity - USD ($)
shares in Millions, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
[7]
Cumulative Effect, Period of Adoption, Adjusted Balance
[1]
Common stock
Common stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Capital Surplus - Preferred Stock
Capital Surplus - Preferred Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
[1]
Capital Surplus - Common Stock and Other
Capital Surplus - Common Stock and Other
Cumulative Effect, Period of Adoption, Adjusted Balance
[1]
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
[7]
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
[1]
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance
[1]
Treasury Stock
Treasury Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
[1]
Noncontrolling Interests
Noncontrolling Interests
Cumulative Effect, Period of Adoption, Adjusted Balance
[1]
Beginning Balance (in shares) at Dec. 31, 2020 [1]       424                            
Common Stock                                    
Treasury stock activity, shares       (4)                            
Ending Balance, (in shares) at Dec. 31, 2021 [1]       420                            
Equity, Beginning Balance at Dec. 31, 2020 [1] $ 54,041     $ 2,713   $ 3,517   $ 12,367   $ 46,848     $ 2,770   $ (14,205)   $ 31  
Common Stock                                    
Net income 5,725                 5,674             51  
Other comprehensive income (loss), net of tax (2,361)                       (2,361)          
Cash Dividends                                    
Common (2,056)                 (2,056)                
Preferred (233)                 (233)                
Preferred stock discount accretion           5       (5)                
Preferred stock issuance [2] 1,487         1,487                        
Common stock activity [3] 25           25                    
Treasury stock activity (823)             84             (907)      
Other (79)             (28)                 (51)  
Equity, Ending Balance at Dec. 31, 2021 [1] $ 55,726     $ 2,713   5,009   12,448   50,228     409   (15,112)   31  
Common Stock                                    
Treasury stock activity, shares       (19)                            
Ending Balance, (in shares) at Dec. 31, 2022 [1]       401 401                          
Common Stock                                    
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2016-13 [Member]                                  
Net income $ 6,113                 6,041             72  
Other comprehensive income (loss), net of tax (10,581)                       (10,581)          
Cash Dividends                                    
Common (2,391)                 (2,391)                
Preferred (301)                 (301)                
Preferred stock discount accretion           5       (5)                
Preferred stock issuance [4],[5] 2,232         2,232                        
Common stock activity [3] 31     $ 1       30                    
Treasury stock activity (3,543)             61             (3,604)      
Preferred stock redemption [6] (1,500)         (1,500)                        
Other 26             91                 (65)  
Equity, Ending Balance at Dec. 31, 2022 45,812 [1] $ 26 $ 45,838 $ 2,714 [1] $ 2,714 [1] 5,746 [1] $ 5,746 12,630 [1] $ 12,630 53,572 [1] $ 26 $ 53,598 (10,172) [1],[8] $ (10,172) (18,716) [1] $ (18,716) 38 [1] $ 38
Common Stock                                    
Treasury stock activity, shares       (3)                            
Ending Balance, (in shares) at Dec. 31, 2023 [1]       398                            
Common Stock                                    
Net income 5,647                 5,578             69  
Other comprehensive income (loss), net of tax 2,460                       2,460          
Cash Dividends                                    
Common (2,461)                 (2,461)                
Preferred (417)                 (417)                
Preferred stock discount accretion           8       (8)                
Preferred stock issuance [9] 1,487         1,487                        
Common stock activity [3] 32     $ 2       30                    
Treasury stock activity (415)             78             (493)      
Preferred stock redemption [10] (1,000)         (1,000)                        
Other (30)             41                 (71)  
Equity, Ending Balance at Dec. 31, 2023 [1] $ 51,141     $ 2,716   $ 6,241   $ 12,779   $ 56,290     $ (7,712) [8]   $ (19,209)   $ 36  
[1] The par value of our preferred stock outstanding was less than $0.5 million at each date and, therefore, is excluded from this presentation.
[2] On September 13, 2021, PNC issued 1,500,000 depositary shares each representing 1/100th ownership in a share of 3.400% fixed-rate reset non-cumulative perpetual preferred stock, Series T, with a par value of $1 per share.
[3] Common stock activity totaled less than 0.5 million shares issued.
[4] On April 26, 2022, PNC issued 1,000,000 depositary shares each representing 1/100th ownership in a share of 6.000% fixed-rate reset non-cumulative perpetual preferred stock, Series U, with a par value of $1 per share.
[5] On August 19, 2022, PNC issued 1,250,000 depositary shares each representing 1/100th ownership in a share of 6.200% fixed-rate reset non-cumulative perpetual preferred stock, Series V, with a par value of $1 per share.
[6] On November 1, 2022, PNC redeemed all 15,000 shares of its Series P preferred stock, as well as all 60,000,000 depositary shares each representing a fractional interest in such shares.
[7] Represents the cumulative effect of adopting ASU 2022-02.
[8] AOCI included pretax losses of $293 million and $314 million from derivatives that hedged the purchase of investment securities classified as held to maturity at December 31, 2023 and December 31, 2022, respectively.
[9] On February 7, 2023, PNC issued 1,500,000 depositary shares each representing 1/100th ownership in a share of 6.250% fixed-rate reset non-cumulative perpetual preferred stock, Series W, with a par value of $1 per share.
[10] On November 1, 2023, PNC redeemed all 10,000 shares of its Series O preferred stock, as well as all 1,000,000 depositary shares each representing a fractional interest in such shares.