Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Other Intangible Assets Disclosure [Abstract]

Goodwill by Business Segment

NOTE 8 GOODWILL AND INTANGIBLE ASSETS
Assets and liabilities of acquired entities are recorded at estimated fair value as of the acquisition date.
Goodwill
Changes in goodwill by business segment during 2015 and 2014 follow:
Table 82: Goodwill by Business Segment (a)
				Corporate &		Asset
		Retail		Institutional		Management
In millions		Banking		Banking		Group		Total
December 31, 2013		$	5,795	$	3,215	$	64	$	9,074
Other					29				29
December 31, 2014		$	5,795	$	3,244	$	64	$	9,103
December 31, 2015		$	5,795	$	3,244	$	64	$	9,103
(a)	The Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio business segments did not have any goodwill allocated to them during 2015, 2014, and 2013.

Commercial Mortgage Servicing Rights

Changes in commercial MSRs during 2013, prior to the irrevocable fair value election, follow:
Table 84: Commercial Mortgage Servicing Rights Accounted for Under the Amortization Method
In millions		2013
Commercial Mortgage Servicing Rights - Net Carrying Amount
January 1		$	420
Additions (a)			138
Amortization expense			(97)
Change in valuation allowance			88
	December 31	$	549
	Servicing advances at December 31	$	412
Commercial Mortgage Servicing Rights - Valuation Allowance
January 1		$	(176)
Provision			(21)
Recoveries			108
Other			1
	December 31	$	(88)
(a)	Additions for 2013 included $53 million from loans sold with servicing retained and $85 million from purchases of servicing rights from third parties.

Mortgage Servicing Rights

Changes in the commercial MSRs accounted for at fair value during 2015 and 2014, follow:
Table 83: Commercial Mortgage Servicing Rights Accounted for at Fair Value
In millions			2015		2014
January 1		$	506	$	552
Additions:
	From loans sold with servicing retained		63		53
	Purchases		55		43
Changes in fair value due to:
	Time and payoffs (a)		(89)		(89)
	Other (b)		(9)		(53)
December 31		$	526	$	506
Related unpaid principal balance at December 31		$	145,823	$	143,738
Servicing advances at December 31		$	251	$	299
(a)	Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period.
(b)	Represents MSR value changes resulting primarily from market-driven changes in interest rates.

Changes in the residential MSRs follow:
Table 85: Residential Mortgage Servicing Rights
In millions		2015		2014		2013
January 1		$	845	$	1,087	$	650
Additions:
	From loans sold with servicing retained		78		85		158
	Purchases		316		45		110
Sales							(4)
Changes in fair value due to:
	Time and payoffs (a)		(178)		(134)		(193)
	Other (b)		2		(238)		366
December 31		$	1,063	$	845	$	1,087
Unpaid principal balance of loans serviced for others at December 31		$	123,466	$	108,010	$	113,994
Servicing advances at December 31		$	411	$	501	$	571
(a)	Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period.
(b)	Represents MSR value changes resulting primarily from market-driven changes in interest rates.

Commercial Mortgage Loan Servicing Assets - Key Valuation Assumptions

Table 86: Commercial Mortgage Loan Servicing Rights - Key Valuation Assumptions
		December 31			December 31
Dollars in millions		2015			2014
Fair value		$	526		$	506
Weighted-average life (years)			4.7			4.7
Weighted-average constant prepayment rate			5.71	%		8.03	%
	Decline in fair value from 10% adverse change	$	10		$	10
	Decline in fair value from 20% adverse change	$	19		$	19
Effective discount rate			7.49	%		6.59	%
	Decline in fair value from 10% adverse change	$	14		$	13
	Decline in fair value from 20% adverse change	$	29		$	26

Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions

Table 87: Residential Mortgage Loan Servicing Rights - Key Valuation Assumptions
		December 31			December 31
Dollars in millions		2015			2014
Fair value		$	1,063		$	845
Weighted-average life (years)			6.3			6.1
Weighted-average constant prepayment rate			10.61	%		11.16	%
	Decline in fair value from 10% adverse change	$	44		$	36
	Decline in fair value from 20% adverse change	$	85		$	69
Weighted-average option adjusted spread			8.93	%		10.36	%
	Decline in fair value from 10% adverse change	$	34		$	31
	Decline in fair value from 20% adverse change	$	67		$	61

Fees from Mortgage Loan Servicing

Table 88: Fees from Mortgage Loan Servicing
In millions	2015		2014		2013
Fees from mortgage loan servicing	$	510	$	503	$	544

Other Intangible Assets

Table 89: Other Intangible Assets
		December 31		December 31
In millions		2015		2014
Gross carrying amount		$	1,499	$	1,502
Accumulated amortization			(1,120)		(1,009)
	Net carrying amount	$	379	$	493

Summary Of Changes In Other Intangible Assets

Changes in other intangible assets during 2015 and 2014 follow:
Table 90: Summary of Changes in Other Intangible Assets
In millions
December 31, 2013	$	580
Additions		41
Amortization		(128)
December 31, 2014	$	493
Amortization		(114)
December 31, 2015	$	379

Amortization Expense on Existing Intangible Assets

Amortization expense on existing other intangible assets for 2015, 2014 and 2013, as well as estimated future amortization expense for the next five fiscal years, follows:
Table 91: Amortization Expense on Existing Intangible Assets
In millions
2013 (a)		$	243
2014			128
2015			114
2016			97
2017			83
2018			72
2019			61
2020			37
(a)	Amounts include amortization expense related to commercial MSRs. As of January 1, 2014, PNC made an irrevocable election to measure commercial MSRs at fair value, and, accordingly, amortization expense for commercial MSRs is no longer recorded.