Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Reconciliation of Changes in Projected Benefit Obligation and Change in Plan Assets

Table 96: Reconciliation of Changes in Projected Benefit Obligation and Change in Plan Assets

		Qualified				Nonqualified				Postretirement
		Pension				Pension				Benefits
December 31 (Measurement Date) – in millions			2015		2014		2015		2014		2015		2014
Accumulated benefit obligation at end of year		$	4,330	$	4,427	$	292	$	316
Projected benefit obligation at beginning of year		$	4,499	$	3,966	$	322	$	292	$	379	$	375
Service cost			107		103		3		3		5		5
Interest cost			177		187		11		12		15		16
Plan amendments					(7)
Actuarial (gains)/losses and changes in assumptions			(126)		504		(10)		40		(9)		4
Participant contributions											5		8
Federal Medicare subsidy on benefits paid											2		2
Benefits paid			(260)		(254)		(28)		(25)		(28)		(31)
Settlement payments											(1)
	Projected benefit obligation at end of year	$	4,397	$	4,499	$	298	$	322	$	368	$	379
Fair value of plan assets at beginning of year		$	4,357	$	4,252
Actual return on plan assets			19		359
Employer contribution			200			$	28	$	25	$	222	$	21
Participant contributions											5		8
Federal Medicare subsidy on benefits paid											2		2
Benefits paid			(260)		(254)		(28)		(25)		(28)		(31)
Settlement payments											(1)
	Fair value of plan assets at end of year	$	4,316	$	4,357					$	200
Funded status		$	(81)	$	(142)	$	(298)	$	(322)	$	(168)	$	(379)
Amounts recognized on the consolidated balance sheet
	Noncurrent asset
	Current liability					$	(27)	$	(31)	$	(2)	$	(25)
	Noncurrent liability	$	(81)	$	(142)		(271)		(291)		(166)		(354)
	Net amount recognized on the consolidated balance sheet	$	(81)	$	(142)	$	(298)	$	(322)	$	(168)	$	(379)
Amounts recognized in accumulated other comprehensive
	income consist of:
Prior service cost (credit)		$	(13)	$	(22)	$	1	$	1	$	(3)	$	(4)
Net actuarial loss			794		673		71		88		22		31
	Amount recognized in AOCI	$	781	$	651	$	72	$	89	$	19	$	27

Asset Strategy Allocations

Table 97: Asset Strategy Allocations

	Target Allocation Range				Target Percentage of Plan Assets by Strategy at December 31
PNC Pension Plan					2015		2014
Asset Category
Domestic Equity	20	-	40	%	32	%	34	%
International Equity	10	-	25	%	23	%	23	%
Private Equity	0	-	15	%	8	%	6	%
Total Equity	40	-	70	%	63	%	63	%
Domestic Fixed Income	10	-	40	%	17	%	17	%
High Yield Fixed Income	0	-	25	%	12	%	13	%
Total Fixed Income	10	-	65	%	29	%	30	%
Real estate	0	-	15	%	5	%	5	%
Other	0	-	5	%	3	%	2	%
Total	100%				100	%	100	%

Pension Plan Assets - Fair Value Hierarchy

Table 98: Pension Plan Assets - Fair Value Hierarchy

	Fair Value Measurements Using:
In millions	December 31, 2015 Fair Value		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Money market funds	$	154	$	154
U.S. government and agency securities		324		186	$	138
Corporate debt (a)		575				568	$	7
Common stock		660		630		30
Preferred stock		7				7
Mutual funds		213		5		208
Interest in Collective Funds (b)		1,888				1,888
Other		13		1		12
Investments measured at net asset value (d)		482
Total	$	4,316	$	976	$	2,851	$	7


		Fair Value Measurements Using:
In millions		December 31, 2014 Fair Value		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Money market funds		$	121	$	121
U.S. government and agency securities			294		147	$	147
Corporate debt (a)			648				638	$	10
Common stock			1,041		1,040		1
Preferred Stock			6				6
Mutual funds			220		2		218
Interest in Collective Funds (c)			1,589				1,589
Limited partnerships			2				2
Other			55		(4)		59
Investments measured at net asset value (d)			381
Total		$	4,357	$	1,306	$	2,660	$	10
(a)	Corporate debt includes $29 million and $34 million of non-agency mortgage-backed securities as of December 31, 2015 and 2014, respectively.
(b)	The benefit plans own commingled funds that invest in equity securities. The funds seek to mirror the benchmark of the S&P 500 Index, Morgan Stanley Capital International ACWI X US Index, Morgan Stanley Capital EAFE Index, Morgan Stanley Capital Emerging Markets Index and the NCREIF ODCE NOF Index with the exception of the BlackRock Index Fund.
(c)	The benefit plans own commingled funds that invest in equity and fixed income securities. The funds seek to mirror the performance of the S&P 500 Index, Russell 3000 Index, Morgan Stanley Capital International ACWI X US Index and the Dow Jones U.S. Select Real Estate Securities Index. The commingled fund that holds fixed income securities invests in domestic investment grade securities and seeks to mimic the performance of the Barclays Aggregate Bond Index.
(d)	In accordance with ASC 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheet.

Rollforward of Pension Plan Level 3 Assets

Table 99: Rollforward of Pension Plan Level 3 Assets
.
		CorporateDebt
In millions		CorporateDebt
January 1, 2015	$	10
Net realized gain/(loss) on sale of investments		1
Net unrealized gain/(loss) on assets held at end of year
Purchases		4
Sales		(8)
December 31, 2015	$	7

		CorporateDebt
In millions		CorporateDebt
January 1, 2014	$	13
Net realized gain/(loss) on sale of investments		3
Net unrealized gain/(loss) on assets held at end of year
Purchases
Sales		(6)
December 31, 2014	$	10

Estimated Cash Flows

Table 100: Estimated Cash Flows

		Pension Plans				Postretirement Benefits
In millions		Qualified Pension		Nonqualified Pension		Gross PNC Benefit Payments		Reduction in PNC Benefit Payments Due to Medicare Part D Subsidy
Estimated 2016 employer contributions				$	27	$	2
Estimated future benefit payments
	2016	$	273	$	27	$	25	$	1
	2017		289		26		26		1
	2018		305		28		27		1
	2019		303		25		27		1
	2020		304		24		28		1
	2021-2025		1,560		105		133		5

Components of Net Periodic Benefit Cost

Table 101: Components of Net Periodic Benefit Cost

			Qualified Pension Plan						Nonqualified Pension Plan						Postretirement Benefits
Year ended December 31 – in millions				2015		2014		2013		2015		2014		2013		2015		2014		2013
Net periodic cost consists of:
Service cost			$	107	$	103	$	113	$	3	$	3	$	3	$	5	$	5	$	6
Interest cost				177		187		170		11		12		12		15		16		14
Expected return on plan assets				(297)		(289)		(288)
Amortization of prior service cost/(credit)				(9)		(8)		(8)								(1)		(2)		(3)
Amortization of actuarial (gain)/loss				31				87		7		4		8
Settlement (gain)/loss														7						1
Net periodic cost (benefit)				9		(7)		74		21		19		30		19		19		18
Other changes in plan assets and benefit
	obligations recognized in Other
	comprehensive income:
Current year prior service cost/(credit)						(7)
Amortization of prior service (cost)/credit				9		8		8								1		2		3
Current year actuarial loss/(gain)				152		434		(784)		(10)		40		(26)		(9)		4		(9)
Amortization of actuarial gain/(loss)				(31)				(87)		(7)		(4)		(15)						(1)
	Total recognized in OCI			130		435		(863)		(17)		36		(41)		(8)		6		(7)
	Total amounts recognized in net
		periodic cost and OCI	$	139	$	428	$	(789)	$	4	$	55	$	(11)	$	11	$	25	$	11

Net Periodic Costs - Assumptions

Table 102: Net Periodic Costs - Assumptions

		Net Periodic Cost Determination
Year ended December 31		2015		2014		2013
Discount rate
	Qualified pension	3.95	%	4.75	%	3.80	%
	Nonqualified pension	3.65	%	4.35	%	3.45	%
	Postretirement benefits	3.80	%	4.50	%	3.60	%
Rate of compensation increase (average)		4.00	%	4.00	%	4.00	%
Assumed health care cost trend rate
	Initial trend	7.50	%	7.75	%	8.00	%
	Ultimate trend	5.00	%	5.00	%	5.00	%
	Year ultimate reached	2025		2025		2019
Expected long-term return on plan assets		6.75	%	7.00	%	7.50	%

Other Pension Assumptions

Table 103: Other Pension Assumptions


Year ended December 31		2015		2014
Discount rate
	Qualified pension	4.25	%	3.95	%
	Nonqualified pension	3.95	%	3.65	%
	Postretirement benefits	4.15	%	3.80	%
Rate of compensation increase (average)		3.50	%	4.00	%
Assumed health care cost trend rate
	Initial trend	7.25	%	7.50	%
	Ultimate trend	5.00	%	5.00	%
	Year ultimate reached	2025		2025

Effect of One-Percentage Point Change in Assumed Health Care Cost

Table 104: Effect of One Percent Change in Assumed Health Care Cost

Year ended December 31, 2015
In millions		Increase	Decrease
Effect on year end benefit obligation	$	10	(9)

Estimated Amortization Of Unamortized Actuarial Gains And Losses - 2016

Table 105: Estimated Amortization of Unamortized Actuarial Gains and Losses - 2016

	2016 Estimate
Year ended December 31In millions	Qualified Pension		Nonqualified Pension		Postretirement Benefits
Prior service (credit)	$	(7)			$	(1)
Net actuarial loss		45	$	4
Total	$	38	$	4	$	(1)