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Equity | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Equity | EQUITY Preferred Stock The following table provides the number of preferred shares issued and outstanding, the liquidation value per share and the number of authorized preferred shares: Table 80: Preferred Stock - Authorized, Issued and Outstanding
|  |  |  | Preferred Shares |
December 31 Shares in thousands |  | Liquidation value per share |  | 2022 |  | 2021 |
Authorized |  |  |  |  |  |  |
$1 par value |  |  |  | 20,000 |  |  | 20,000 |  |
Issued and outstanding |  |  |  |  |  |  |
Series B |  | $ | 40 |  |  | 1 |  |  | 1 |  |
Series O |  | $ | 100,000 |  |  | 10 |  |  | 10 |  |
Series P (a) |  | $ | 100,000 |  |  |  |  |  | 15 |  |
Series R |  | $ | 100,000 |  |  | 5 |  |  | 5 |  |
Series S |  | $ | 100,000 |  |  | 5 |  |  | 5 |  |
Series T |  | $ | 100,000 |  |  | 15 |  |  | 15 |  |
Series U |  | $ | 100,000 |  |  | 10 |  |  |  |
Series V |  | $ | 100,000 |  |  | 12 |  |  |  |
Total issued and outstanding |  |  |  | 58 |  |  | 51 |  |
(a)On November 1, 2022, PNC redeemed all 15,000 shares of its Series P Preferred Stock, as well as all 60 million Depositary Shares each representing a fractional interest in such shares. The following table discloses information related to the preferred stock outstanding as of December 31, 2022: Table 81: Terms of Outstanding Preferred Stock
Preferred Stock | Issue Date | Number of Depositary Shares Issued and Outstanding | Fractional Interest in a Share of Preferred Stock Represented by Each Depositary Share | Dividend Dates (a) | Annual Per Share Dividend Rate | Optional Redemption Date (b)
Series B (c) | (c) | N/A | N/A | Quarterly from March 10 th |  | $ | 1.80 |  | None
Series O (d) | July 27, 2011 | 1 million | 1/100 th | Semi-annually beginning on February 1, 2012 until August 1, 2021 Quarterly beginning on November 1, 2021 | 6.75% until August 1, 2021 3 Mo. LIBOR plus 3.678% per annum beginning on August 1, 2021 | August 1, 2021
Series R (d) | May 7, 2013 | 500,000 |  | 1/100 th | Semi-annually beginning on December 1, 2013 until June 1, 2023 Quarterly beginning on September 1, 2023 | 4.85% until June 1, 2023 3 Mo. LIBOR plus 3.04% per annum beginning June 1, 2023 | June 1, 2023
Series S (d) | November 1, 2016 | 525,000 |  | 1/100 th | Semi-annually beginning on May 1, 2017 until November 1, 2026 Quarterly beginning on February 1, 2027 | 5.00% until November 1, 2026 3 Mo. LIBOR plus 3.30% per annum beginning November 1, 2026 | November 1, 2026
Series T (d) | September 13, 2021 | 1.5 million | 1/100 th | Quarterly beginning on December 15, 2021 | 3.40% until September 15, 2026 5 Yr. U.S. Treasury plus 2.595% per annum beginning September 15, 2026 | September 15, 2026
Series U (d) | April 26, 2022 | 1 million | 1/100 th | Quarterly beginning on August 15, 2022 | 6.00% until May 15, 2027 5 Yr. U.S. Treasury plus 3.00% per annum beginning May 15, 2027 | May 15, 2027
Series V (d) | August 19, 2022 | 1.25 million | 1/100 th | Quarterly beginning on December 15, 2022 | 6.20% until September 15, 2027 5 Yr. U.S. Treasury plus 3.238% per annum beginning September 15, 2027 | September 15, 2027
(a)Dividends are payable when, as, and if declared by our Board of Directors or an authorized committee of our Board of Directors. (b)Redeemable at our option on or after the date stated. With the exception of the Series B preferred stock, also redeemable at our option within 90 days of a regulatory capital treatment event as defined in the designations. (c)Cumulative preferred stock. Holders of Series B preferred stock are entitled to 8 votes per share, which is equal to the number of full shares of common stock into which the Series B preferred stock is convertible. The Series B preferred stock was issued in connection with the consolidation of Pittsburgh National Corporation and Provident National Corporation in 1983. (d)Non-Cumulative preferred stock. Each outstanding series of preferred stock, other than the Series B, contains restrictions on our ability to pay dividends and make other shareholder payments. Subject to limited exceptions, if dividends are not paid on any such series of preferred stock, we cannot declare dividends on or repurchase shares of our common stock. In addition, if we would like to repurchase shares of preferred stock, such repurchases must be on a pro rata basis with respect to all such series of preferred stock. The following table provides the dividends per share for PNC’s common and preferred stock: Table 82: Dividends Per Share
December 31 | 2022 | 2021 | 2020
Common Stock | $ | 5.75 |  | $ | 4.80 |  | $ | 4.60 |
Preferred Stock |  |  |
Series B | $ | 1.80 |  | $ | 1.80 |  | $ | 1.80 |
Series O | $ | 4,881 |  | $ | 7,722 |  | $ | 6,750 |
Series P | $ | 6,181 |  | $ | 6,125 |  | $ | 6,125 |
Series Q |  |  |  | $ | 4,031 |
Series R | $ | 4,850 |  | $ | 4,850 |  | $ | 4,850 |
Series S | $ | 5,000 |  | $ | 5,000 |  | $ | 5,000 |
Series T | $ | 3,400 |  | $ | 869 |  |
Series U | $ | 3,317 |  |  |
Series V | $ | 1,998 |  |  |
On January 4, 2023, the PNC Board of Directors declared a quarterly cash dividend on common stock of $1.50 per share. The dividend, with a payment date of February 5, 2023, was paid on the next business day. Other Shareholders’ Equity Matters At December 31, 2022, we had reserved approximately 79 million common shares to be issued in connection with certain stock plans. Consistent with the SCB framework, which allows for capital return in amounts in excess of the SCB minimum levels, our Board of Directors has authorized a repurchase framework under the repurchase program approved on April 4, 2019 of up to 100 million common shares, of which approximately 49% were still available for repurchase at December 31, 2022. Under this framework, PNC expects quarterly repurchases of up to $500 million with the ability to adjust those levels as conditions warrant. PNC’s SCB for the four-quarter period beginning October 1, 2022 is 2.9%.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&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 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: 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 https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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