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Total Equity and Other Comprehensive Income | 9 Months Ended
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Sep. 30, 2022
Other Comprehensive Income [Abstract] |
Total Equity and Other Comprehensive Income | TOTAL E QUITY A ND O THER C OMPREHENSIVE I NCOMEActivity in total equity for the three and nine months ended September 30, 2022 and 2021 is as follows: Table 58: Rollforward of Total Equity
|  |  | Shareholders’ Equity |  |  |  |
In millions | Shares Outstanding Common Stock |  | Common Stock | Capital Surplus - Preferred Stock | Capital Surplus - Common Stock and Other | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |  | Non- controlling Interests | Total Equity |
Three months ended |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2021 (a) | 425 |  |  | $ | 2,713 |  | $ | 3,519 |  | $ | 12,409 |  | $ | 48,663 |  | $ | 1,463 |  | $ | (14,140) |  |  | $ | 58 |  | $ | 54,685 |  |
Net income |  |  |  |  |  | 1,474 |  |  |  |  | 16 |  | 1,490 |  |
Other comprehensive income (loss), net of tax |  |  |  |  |  |  | (384) |  |  |  |  | (384) |  |
Cash dividends declared - Common |  |  |  |  |  | (538) |  |  |  |  |  | (538) |  |
Cash dividends declared - Preferred |  |  |  |  |  | (57) |  |  |  |  |  | (57) |  |
Preferred stock discount accretion |  |  |  | 1 |  |  | (1) |  |  |  |  |  |  |
Preferred stock issuance (b) |  |  |  | 1,489 |  |  |  |  |  |  |  | 1,489 |  |
Treasury stock activity | (2) |  |  |  |  | 5 |  |  |  | (387) |  |  |  | (382) |  |
Other |  |  |  |  | 30 |  |  |  |  |  | (36) |  | (6) |  |
Balance at September 30, 2021 (a) | 423 |  |  | $ | 2,713 |  | $ | 5,009 |  | $ | 12,444 |  | $ | 49,541 |  | $ | 1,079 |  | $ | (14,527) |  |  | $ | 38 |  | $ | 56,297 |  |
Balance at June 30, 2022 (a) | 411 |  |  | $ | 2,714 |  | $ | 6,004 |  | $ | 12,527 |  | $ | 51,841 |  | $ | (8,358) |  | $ | (17,076) |  |  | $ | 36 |  | $ | 47,688 |  |
Net income |  |  |  |  |  | 1,624 |  |  |  |  | 16 |  | 1,640 |  |
Other comprehensive income (loss), net of tax |  |  |  |  |  |  | (2,128) |  |  |  |  | (2,128) |  |
Cash dividends declared - Common |  |  |  |  |  | (622) |  |  |  |  |  | (622) |  |
Cash dividends declared - Preferred |  |  |  |  |  | (65) |  |  |  |  |  | (65) |  |
Preferred stock discount accretion |  |  |  | 1 |  |  | (1) |  |  |  |  |  |  |
Preferred stock issuance (c) |  |  |  | 1,239 |  |  |  |  |  |  |  | 1,239 |  |
Treasury stock activity | (7) |  |  |  |  | 6 |  |  |  | (1,051) |  |  |  | (1,045) |  |
Other |  |  |  |  | 33 |  |  |  |  |  | (17) |  | 16 |  |
Balance at September 30, 2022 (a) | 404 |  |  | $ | 2,714 |  | $ | 7,244 |  | $ | 12,566 |  | $ | 52,777 |  | $ | (10,486) |  | $ | (18,127) |  |  | $ | 35 |  | $ | 46,723 |  |
Nine months ended |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 (a) | 424 |  |  | $ | 2,713 |  | $ | 3,517 |  | $ | 12,367 |  | $ | 46,848 |  | $ | 2,770 |  | $ | (14,205) |  |  | $ | 31 |  | $ | 54,041 |  |
Net income |  |  |  |  |  | 4,381 |  |  |  |  | 38 |  | 4,419 |  |
Other comprehensive income (loss), net of tax |  |  |  |  |  |  | (1,691) |  |  |  |  | (1,691) |  |
Cash dividends declared - Common |  |  |  |  |  | (1,523) |  |  |  |  |  | (1,523) |  |
Cash dividends declared - Preferred |  |  |  |  |  | (162) |  |  |  |  |  | (162) |  |
Preferred stock discount accretion |  |  |  | 3 |  |  | (3) |  |  |  |  |  |  |
Preferred stock issuance (b) |  |  |  | 1,489 |  |  |  |  |  |  |  | 1,489 |  |
Common stock activity |  |  |  |  | 12 |  |  |  |  |  |  | 12 |  |
Treasury stock activity | (1) |  |  |  |  | 78 |  |  |  | (322) |  |  |  | (244) |  |
Other |  |  |  |  | (13) |  |  |  |  |  | (31) |  | (44) |  |
Balance at September 30, 2021 (a) | 423 |  |  | $ | 2,713 |  | $ | 5,009 |  | $ | 12,444 |  | $ | 49,541 |  | $ | 1,079 |  | $ | (14,527) |  |  | $ | 38 |  | $ | 56,297 |  |
Balance at December 31, 2021 (a) | 420 |  |  | $ | 2,713 |  | $ | 5,009 |  | $ | 12,448 |  | $ | 50,228 |  | $ | 409 |  | $ | (15,112) |  |  | $ | 31 |  | $ | 55,726 |  |
Net income |  |  |  |  |  | 4,513 |  |  |  |  | 52 |  | 4,565 |  |
Other comprehensive income (loss), net of tax |  |  |  |  |  |  | (10,895) |  |  |  |  | (10,895) |  |
Cash dividends declared - Common |  |  |  |  |  | (1,779) |  |  |  |  |  | (1,779) |  |
Cash dividends declared - Preferred |  |  |  |  |  | (181) |  |  |  |  |  | (181) |  |
Preferred stock discount accretion |  |  |  | 4 |  |  | (4) |  |  |  |  |  |  |
Preferred stock issuance (c) (d) |  |  |  | 2,231 |  |  |  |  |  |  |  | 2,231 |  |
Common stock activity |  |  | 1 |  |  | 14 |  |  |  |  |  |  | 15 |  |
Treasury stock activity | (16) |  |  |  |  | 56 |  |  |  | (3,015) |  |  |  | (2,959) |  |
Other |  |  |  |  | 48 |  |  |  |  |  | (48) |  |  |
Balance at September 30, 2022 (a) | 404 |  |  | $ | 2,714 |  | $ | 7,244 |  | $ | 12,566 |  | $ | 52,777 |  | $ | (10,486) |  | $ | (18,127) |  |  | $ | 35 |  | $ | 46,723 |  |
(a)The par value of our preferred stock outstanding was less than $0.5 million at each date and, therefore, is excluded from this presentation. (b)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. (c)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. (d)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. . Details of other comprehensive income (loss) are as follows: Table 59: Other Comprehensive Income (Loss)
| Three months ended September 30 |  | Nine months ended September 30 |
| 2022 |  | 2021 |  | 2022 |  | 2021 |
In millions | Pre-tax | Tax effect | After- tax |  | Pre-tax | Tax effect | After-tax |  | Pre-tax | Tax effect | After-tax |  | Pre-tax | Tax effect | After-tax |
Debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities | $ | (1,998) |  | $ | 471 |  | $ | (1,527) |  |  | $ | (320) |  | $ | 76 |  | $ | (244) |  |  | $ | (11,245) |  | $ | 2,650 |  | $ | (8,595) |  |  | $ | (1,446) |  | $ | 341 |  | $ | (1,105) |  |
Less: Net realized gains (losses) reclassified to earnings (a) | (260) |  | 61 |  | (199) |  |  | 3 |  | (1) |  | 2 |  |  | (477) |  | 112 |  | (365) |  |  | 25 |  | (6) |  | 19 |  |
Net change | (1,738) |  | 410 |  | (1,328) |  |  | (323) |  | 77 |  | (246) |  |  | (10,768) |  | 2,538 |  | (8,230) |  |  | (1,471) |  | 347 |  | (1,124) |  |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on cash flow hedge derivatives | (1,154) |  | 272 |  | (882) |  |  | (59) |  | 14 |  | (45) |  |  | (3,486) |  | 821 |  | (2,665) |  |  | (369) |  | 87 |  | (282) |  |
Less: Net realized gains (losses) reclassified to earnings (a) | (129) |  | 30 |  | (99) |  |  | 115 |  | (27) |  | 88 |  |  | (2) |  |  | (2) |  |  | 358 |  | (84) |  | 274 |  |
Net change | (1,025) |  | 242 |  | (783) |  |  | (174) |  | 41 |  | (133) |  |  | (3,484) |  | 821 |  | (2,663) |  |  | (727) |  | 171 |  | (556) |  |
Pension and other postretirement benefit plan adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net pension and other postretirement benefit plan activity and other reclassified to earnings (b) | 2 |  | (1) |  | 1 |  |  | 2 |  |  | 2 |  |  | 64 |  | (16) |  | 48 |  |  | (11) |  | 3 |  | (8) |  |
Net change | 2 |  | (1) |  | 1 |  |  | 2 |  |  |  | 2 |  |  | 64 |  | (16) |  | 48 |  |  | (11) |  | 3 |  | (8) |  |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on other transactions | 4 |  | (22) |  | (18) |  |  | 1 |  | (8) |  | (7) |  |  | (3) |  | (47) |  | (50) |  |  | 2 |  | (5) |  | (3) |  |
Net change | 4 |  | (22) |  | (18) |  |  | 1 |  | (8) |  | (7) |  |  | (3) |  | (47) |  | (50) |  |  | 2 |  | (5) |  | (3) |  |
Total other comprehensive income (loss) | $ | (2,757) |  | $ | 629 |  | $ | (2,128) |  |  | $ | (494) |  | $ | 110 |  | $ | (384) |  |  | $ | (14,191) |  | $ | 3,296 |  | $ | (10,895) |  |  | $ | (2,207) |  | $ | 516 |  | $ | (1,691) |  |
(a)Reclassifications for pre-tax debt securities and cash flow hedges are recorded in Interest income and Noninterest income on the Consolidated Income Statement. (b)Reclassifications include amortization of actuarial losses (gains) and amortization of prior period services costs (credits) which are recorded in noninterest expense on the Consolidated Income Statement. Table 60: Accumulated Other Comprehensive Income (Loss) Components
In millions, after-tax | Debt securities |  | Cash flow hedge derivatives |  | Pension and other postretirement benefit plan adjustments |  | Other |  |  |  |  | Total |
Three months ended |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at June 30, 2021 | $ | 1,584 |  |  | $ | 236 |  |  | $ | (355) |  |  | $ | (2) |  |  |  |  |  | $ | 1,463 |  |
Net activity | (246) |  |  | (133) |  |  | 2 |  |  | (7) |  |  |  |  |  | (384) |  |
Balance at September 30, 2021 | $ | 1,338 |  |  | $ | 103 |  |  | $ | (353) |  |  | $ | (9) |  |  |  |  |  | $ | 1,079 |  |
Balance at June 30, 2022 | $ | (6,313) |  |  | $ | (2,081) |  |  | $ | 74 |  |  | $ | (38) |  |  |  |  |  | $ | (8,358) |  |
Net activity | (1,328) |  |  | (783) |  |  | 1 |  |  | (18) |  |  |  |  |  | (2,128) |  |
Balance at September 30, 2022 (a) | $ | (7,641) |  |  | $ | (2,864) |  |  | $ | 75 |  |  | $ | (56) |  |  |  |  |  | $ | (10,486) |  |
Nine months ended |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 | $ | 2,462 |  |  | $ | 659 |  |  | $ | (345) |  |  | $ | (6) |  |  |  |  |  | $ | 2,770 |  |
Net activity | (1,124) |  |  | (556) |  |  | (8) |  |  | (3) |  |  |  |  |  | (1,691) |  |
Balance at September 30, 2021 | $ | 1,338 |  |  | $ | 103 |  |  | $ | (353) |  |  | $ | (9) |  |  |  |  |  | $ | 1,079 |  |
Balance at December 31, 2021 | $ | 589 |  |  | $ | (201) |  |  | $ | 27 |  |  | $ | (6) |  |  |  |  |  | $ | 409 |  |
Net activity | (8,230) |  |  | (2,663) |  |  | 48 |  |  | (50) |  |  |  |  |  | (10,895) |  |
Balance at September 30, 2022 (a) | $ | (7,641) |  |  | $ | (2,864) |  |  | $ | 75 |  |  | $ | (56) |  |  |  |  |  | $ | (10,486) |  |
(a)At September 30, 2022, AOCI included pretax losses of $132 million from derivatives that hedged the purchase of investment securities classified as held to maturity. The following table provides the dividends per share for PNC's common and preferred stock: Table 61: Dividends Per Share (a)
| Three months ended September 30 | Nine months ended September 30
| 2022 | 2021 | 2022 | 2021
Common Stock | $ | 1.50 |  | $ | 1.25 |  | $ | 4.25 |  | $ | 3.55 |
Preferred Stock |  |  |  |
Series B | $ | 0.45 |  | $ | 0.45 |  | $ | 1.35 |  | $ | 1.35 |
Series O | $ | 1,269 |  | $ | 3,375 |  | $ | 3,230 |  | $ | 6,750 |
Series P | $ | 1,368 |  | $ | 1,531 |  | $ | 4,431 |  | $ | 4,594 |
Series R |  |  |  | $ | 2,425 |  | $ | 2,425 |
Series S |  |  |  | $ | 2,500 |  | $ | 2,500 |
Series T | $ | 850 |  |  | $ | 2,550 |  |
Series U | $ | 1,817 |  |  | $ | 1,817 |  |
(a)Dividends are payable quarterly other than Series R and Series S preferred stock, which are payable semiannually. 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. Beginning on December 15, 2022, dividends will be paid on the Series V on a quarterly basis (March 15, June 15, September 15, and December 15 of each year). On October 3, 2022, the PNC Board of Directors declared a quarterly cash dividend on common stock of $1.50 per share payable on November 5, 2022.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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