filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
This Selected Financial Data should be reviewed in conjunction with the Consolidated Financial Statements and Notes included in
Item 8 of this Report as well as the other disclosures in this Report concerning our historical financial performance, our future
prospects and the risks associated with our business and financial performance.
| Year ended December 31 | ||||||||||||||||||||||||||||||||
| Dollars in millions, except per share data | 2021 | 2020 | 2019 | |||||||||||||||||||||||||||||
| Summary of Operations | ||||||||||||||||||||||||||||||||
| Net interest income | $ | 10,647 | $ | 9,946 | $ | 9,965 | ||||||||||||||||||||||||||
| Noninterest income | 8,564 | 6,955 | 6,874 | |||||||||||||||||||||||||||||
| Total revenue | 19,211 | 16,901 | 16,839 | |||||||||||||||||||||||||||||
| Provision for (recapture of) credit losses | (779) | 3,175 | 773 | |||||||||||||||||||||||||||||
| Noninterest expense | 13,002 | 10,297 | 10,574 | |||||||||||||||||||||||||||||
| Income from continuing operations before income taxes and noncontrolling interests | 6,988 | 3,429 | 5,492 | |||||||||||||||||||||||||||||
| Income taxes from continuing operations | 1,263 | 426 | 901 | |||||||||||||||||||||||||||||
| Net income from continuing operations | 5,725 | 3,003 | 4,591 | |||||||||||||||||||||||||||||
| Income from discontinued operations before taxes | 5,777 | 988 | ||||||||||||||||||||||||||||||
| Income taxes from discontinued operations | 1,222 | 161 | ||||||||||||||||||||||||||||||
| Net income from discontinued operations | 4,555 | 827 | ||||||||||||||||||||||||||||||
| Net income | $ | 5,725 | $ | 7,558 | $ | 5,418 | ||||||||||||||||||||||||||
| Net income attributable to common shareholders | $ | 5,436 | $ | 7,284 | $ | 5,129 | ||||||||||||||||||||||||||
| Per Common Share | ||||||||||||||||||||||||||||||||
| Diluted earnings from continuing operations | $ | 12.70 | $ | 6.36 | $ | 9.57 | ||||||||||||||||||||||||||
| Diluted earnings from discontinued operations | $ | 10.60 | $ | 1.82 | ||||||||||||||||||||||||||||
| Total diluted earnings | $ | 12.70 | $ | 16.96 | $ | 11.39 | ||||||||||||||||||||||||||
| Book value per common share | $ | 120.61 | $ | 119.11 | $ | 104.59 | ||||||||||||||||||||||||||
| Tangible book value per common share (a) | $ | 94.11 | $ | 97.43 | $ | 83.30 | ||||||||||||||||||||||||||
| Performance Ratios | ||||||||||||||||||||||||||||||||
| Net interest margin (b) | 2.29 | % | 2.53 | % | 2.89 | % | ||||||||||||||||||||||||||
| Noninterest income to total revenue | 45 | % | 41 | % | 41 | % | ||||||||||||||||||||||||||
| Efficiency | 68 | % | 61 | % | 63 | % | ||||||||||||||||||||||||||
| Return on: | ||||||||||||||||||||||||||||||||
| Average common shareholders’ equity | 10.78 | % | 15.21 | % | 11.50 | % | ||||||||||||||||||||||||||
| Average assets | 1.09 | % | 1.68 | % | 1.35 | % |
(a)See explanation and reconciliation of this non-GAAP measure in Reconciliation of Tangible Book Value Per Common Share (Non-GAAP) Statistical Information (Unaudited) section in Item 8 of this Report.
(b)See explanation and reconciliation of this non-GAAP measure in Average Consolidated Balance Sheet and Net Interest Analysis and Reconciliation of Taxable-Equivalent Net Interest Income (Non-GAAP) Statistical Information (Unaudited) section in Item 8 of this Report.
| Year ended December 31 | ||||||||||||||||||||||||||||||||
| Dollars in millions, except as noted | 2021 | 2020 | ||||||||||||||||||||||||||||||
| Balance Sheet Highlights | ||||||||||||||||||||||||||||||||
| Assets | $ | 557,191 | $ | 466,679 | ||||||||||||||||||||||||||||
| Loans | $ | 288,372 | $ | 241,928 | ||||||||||||||||||||||||||||
| Allowance for loan and lease losses | $ | 4,868 | $ | 5,361 | ||||||||||||||||||||||||||||
| Interest-earning deposits with banks | $ | 74,250 | $ | 85,173 | ||||||||||||||||||||||||||||
| Investment securities | $ | 132,962 | $ | 88,799 | ||||||||||||||||||||||||||||
| Total deposits | $ | 457,278 | $ | 365,345 | ||||||||||||||||||||||||||||
| Borrowed funds | $ | 30,784 | $ | 37,195 | ||||||||||||||||||||||||||||
| Total shareholders’ equity | $ | 55,695 | $ | 54,010 | ||||||||||||||||||||||||||||
| Common shareholders’ equity | $ | 50,685 | $ | 50,493 | ||||||||||||||||||||||||||||
| Other Selected Ratios | ||||||||||||||||||||||||||||||||
| Common equity Tier 1 | 10.3 | % | 12.2 | % | ||||||||||||||||||||||||||||
| Dividend payout | 37.8 | % | 27.2 | % | ||||||||||||||||||||||||||||
| Loans to deposits | 63 | % | 66 | % | ||||||||||||||||||||||||||||
| Common shareholders’ equity to total assets | 9.1 | % | 10.8 | % | ||||||||||||||||||||||||||||
| Average common shareholders’ equity to average assets | 9.6 | % | 10.7 | % | ||||||||||||||||||||||||||||
The PNC Financial Services Group, Inc. – 2021 Form 10-K 37
Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (MD&A)