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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Results of Businesses | Results of our reportable business segments for the three and six months ended June 30, 2025 and 2024 are as follows: Table 81: Business Segment Results
| Retail Banking | Corporate & Institutional Banking | Asset Management Group
In millions | 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Three months ended June 30 |  |  |  |  |  |
Net interest income (a)(b) | $ | 2,976 |  | $ | 2,715 |  | $ | 1,675 |  | $ | 1,531 |  | $ | 179 |  | $ | 153 |
Noninterest income | 782 |  | 1,409 |  | 1,022 |  | 942 |  | 244 |  | 235 |
Total revenue (a)(b) | 3,758 |  | 4,124 |  | 2,697 |  | 2,473 |  | 423 |  | 388 |
Provision for (recapture of) credit losses | 83 |  | 27 |  | 184 |  | 228 |  | (13) |  | 2 |
Noninterest expense (c) |  |  |  |  |  |
Personnel | 539 |  | 533 |  | 370 |  | 348 |  | 115 |  | 115 |
Segment allocations (d) | 978 |  | 940 |  | 381 |  | 374 |  | 118 |  | 110 |
Depreciation and amortization | 87 |  | 77 |  | 49 |  | 51 |  | 10 |  | 9 |
Other (e) | 286 |  | 291 |  | 150 |  | 138 |  | 25 |  | 27 |
Total noninterest expense | 1,890 |  | 1,841 |  | 950 |  | 911 |  | 268 |  | 261 |
Income before income taxes and noncontrolling interests (a)(b) | 1,785 |  | 2,256 |  | 1,563 |  | 1,334 |  | 168 |  | 125 |
Income taxes (a)(b) | 416 |  | 526 |  | 329 |  | 283 |  | 39 |  | 30 |
Net income (a)(b) | 1,369 |  | 1,730 |  | 1,234 |  | 1,051 |  | 129 |  | 95 |
Less: Net income attributable to noncontrolling interests | 10 | 11 | 5 | 5 | — |  | — |
Net income excluding noncontrolling interests (a)(b) | $ | 1,359 |  | $ | 1,719 |  | $ | 1,229 |  | $ | 1,046 |  | $ | 129 |  | $ | 95 |
Average Assets (a) | $ | 114,061 |  | $ | 117,322 |  | $ | 234,391 |  | $ | 229,604 |  | $ | 14,629 |  | $ | 14,779 |
Six months ended June 30 |  |  |  |  |  |
Net interest income (a)(b) | $ | 5,812 |  | $ | 5,338 |  | $ | 3,303 |  | $ | 3,051 |  | $ | 353 |  | $ | 301 |
Noninterest income | 1,488 |  | 2,173 |  | 2,000 |  | 1,830 |  | 487 |  | 465 |
Total revenue (a)(b) | 7,300 |  | 7,511 |  | 5,303 |  | 4,881 |  | 840 |  | 766 |
Provision for (recapture of) credit losses | 251 |  | 145 |  | 233 |  | 275 |  | (12) |  | (3) |
Noninterest expense (c) |  |  |  |  |  |
Personnel | 1,077 |  | 1,074 |  | 746 |  | 714 |  | 236 |  | 236 |
Segment allocations (d) | 1,945 |  | 1,867 |  | 764 |  | 740 |  | 235 |  | 217 |
Depreciation and amortization | 173 |  | 153 |  | 100 |  | 101 |  | 18 |  | 16 |
Other (e) | 597 |  | 584 |  | 296 |  | 278 |  | 58 |  | 57 |
Total noninterest expense | 3,792 |  | 3,678 |  | 1,906 |  | 1,833 |  | 547 |  | 526 |
Income before income taxes and noncontrolling interests (a)(b) | 3,257 |  | 3,688 |  | 3,164 |  | 2,773 |  | 305 |  | 243 |
Income taxes (a)(b) | 758 |  | 861 |  | 682 |  | 596 |  | 71 |  | 58 |
Net income (a)(b) | 2,499 |  | 2,827 |  | 2,482 |  | 2,177 |  | 234 |  | 185 |
Less: Net income attributable to noncontrolling interests | 19 | 19 | 9 | 10 | — |  | — |
Net income excluding noncontrolling interests (a)(b) | $ | 2,480 |  | $ | 2,808 |  | $ | 2,473 |  | $ | 2,167 |  | $ | 234 |  | $ | 185 |
Average Assets (a) | $ | 114,601 |  | $ | 116,856 |  | $ | 230,750 |  | $ | 229,151 |  | $ | 14,556 |  | $ | 14,654 |
(a)During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation. (b)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation. (c)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation. (d)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations. (e)Other is primarily comprised of other direct expenses including outside services and equipment expense. The following table represents reconciliations of financial results for the three reportable segments to our consolidated reporting. Table 82: Reconciliation of Business Segment Results to Consolidated
|  | Three months ended June 30 |  | Six months ended June 30 |
In millions |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Revenues |  |  |  |  |  |  |  |  |
Total business segment revenue (a) |  | $ | 6,878 |  |  | $ | 6,985 |  |  | $ | 13,443 |  |  | $ | 13,158 |  |
Revenues from other activities (a) |  | (1,217) |  |  | (1,574) |  |  | (2,330) |  |  | (2,602) |  |
Total revenue |  | $ | 5,661 |  |  | $ | 5,411 |  |  | $ | 11,113 |  |  | $ | 10,556 |  |
Noninterest Expense |  |  |  |  |  |  |  |  |
Total business segment noninterest expense (b) |  | $ | 3,108 |  |  | $ | 3,013 |  |  | $ | 6,245 |  |  | $ | 6,037 |  |
FDIC special assessment |  | — |  |  | — |  |  | — |  |  | 130 |  |
PNC Foundation Contribution |  | — |  |  | 120 |  |  | — |  |  | 120 |  |
Noninterest expense from other activities (b) |  | 275 |  |  | 224 |  |  | 525 |  |  | 404 |  |
Total noninterest expense |  | $ | 3,383 |  |  | $ | 3,357 |  |  | $ | 6,770 |  |  | $ | 6,691 |  |
Net Income |  |  |  |  |  |  |  |  |
Total business segment net income (a) |  | $ | 2,732 |  |  | $ | 2,876 |  |  | $ | 5,215 |  |  | $ | 5,189 |  |
FDIC special assessment |  | — |  |  | — |  |  | — |  |  | (130) |  |
PNC Foundation Contribution |  | — |  |  | (120) |  |  | — |  |  | (120) |  |
Net income (loss) from other activities (a) |  | (1,089) |  |  | (1,279) |  |  | (2,073) |  |  | (2,118) |  |
Net income |  | $ | 1,643 |  |  | $ | 1,477 |  |  | $ | 3,142 |  |  | $ | 2,821 |  |
Average Assets |  |  |  |  |  |  |  |  |
Total business segment average assets |  | $ | 363,081 |  |  | $ | 361,705 |  |  | $ | 359,907 |  |  | $ | 360,661 |  |
Average assets from other activities |  | 198,605 |  |  | 201,325 |  |  | 199,139 |  |  | 202,278 |  |
Total average assets |  | $ | 561,686 |  |  | $ | 563,030 |  |  | $ | 559,046 |  |  | $ | 562,939 |  |
(a)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation. (b)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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