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Segment Reporting
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
We have three reportable business segments:
•Retail Banking
•Corporate & Institutional Banking
•Asset Management Group

Results of individual businesses are presented based on our internal management reporting practices. There is no comprehensive, authoritative body of guidance for management accounting equivalent to GAAP; therefore, the financial results of our individual businesses are not necessarily comparable with similar information for any other company. We periodically refine our internal methodologies as management reporting practices are enhanced. To the extent significant and practicable, retrospective application of new methodologies is made to prior period reportable business segment results and disclosures to create comparability with the current period.

Total business segment financial results differ from total consolidated net income. These differences are reflected in the “Other” category in Table 76. “Other” includes residual activities that do not meet the criteria for disclosure as a separate reportable business, such as asset and liability management activities, including net securities gains or losses, ACL for investment securities, certain trading activities, certain runoff consumer loan portfolios, private equity investments, intercompany eliminations, certain corporate overhead, tax adjustments that are not allocated to business segments, exited businesses and differences between business segment performance reporting and financial statement reporting (GAAP). Assets, revenue and earnings attributable to foreign activities were not material in the periods presented for comparison.

Financial results are presented, to the extent practicable, as if each business operated on a stand-alone basis. Additionally, we have aggregated the results for corporate support functions within “Other” for financial reporting purposes.

Net interest income in business segment results reflects our internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors.

We have allocated the ALLL and the allowance for unfunded lending related commitments based on the loan exposures within each business segment’s portfolio. Key reserve assumptions and estimation processes react to and are influenced by observed changes in loan portfolio performance experience, the financial strength of the borrower and economic conditions. Key reserve assumptions are periodically updated.
Business Segment Results

Table 76: Results of Businesses
Three months ended September 30
In millions		Retail BankingCorporate &
Institutional
Banking		Asset
Management
Group		Other Consolidated (a) 
2022
Income Statement
Net interest income $2,017 $1,345 $165 $(52)$3,475 
Noninterest income725 887 231 231 2,074 
Total revenue2,742 2,232 396 179 5,549 
Provision for (recapture of) credit losses92 150 4 (5)241 
Depreciation and amortization76 50 6 145 277 
Other noninterest expense1,825 840 268 70 3,003 
Income (loss) before income taxes (benefit) and noncontrolling interests749 1,192 118 (31)2,028 
Income taxes (benefit) 175 258 28 (73)388 
Net income 574 934 90 42 1,640 
Less: Net income (loss) attributable to noncontrolling interests14 5 (3)16 
Net income excluding noncontrolling interests$560 $929 $90 $45 $1,624 
Average Assets $114,619 $224,984 $14,820 $192,674 $547,097 
2021
Income Statement
Net interest income$1,713 $1,241 $141 $(239)$2,856 
Noninterest income662 1,056 256 367 2,341 
Total revenue2,375 2,297 397 128 5,197 
Provision for (recapture of) credit losses(113)(99)(6)15 (203)
Depreciation and amortization78 54 7 138 277 
Other noninterest expense1,811 926 248 325 3,310 
Income (loss) before income taxes (benefit) and noncontrolling interests599 1,416 148 (350)1,813 
Income taxes (benefit) 140 290 34 (141)323 
Net income (loss)459 1,126 114 (209)1,490 
Less: Net income attributable to noncontrolling interests12 3 1 16 
Net income (loss) excluding noncontrolling interests$447 $1,123 $114 $(210)$1,474 
Average Assets $117,394 $202,268 $13,805 $225,775 $559,242 
(Continued from previous page)
Nine months ended September 30
In millions		Retail
Banking		Corporate &
Institutional
Banking		Asset
Management
Group		OtherConsolidated (a) 
2022
Income Statement
Net interest income $5,210 $3,720 $456 $(56)$9,330 
Noninterest income2,218 2,659 713 437 6,027 
Total revenue7,428 6,379 1,169 381 15,357 
Provision for (recapture of) credit losses66 15 11 (23)69 
Depreciation and amortization233 153 20 437 843 
Other noninterest expense5,473 2,508 775 97 8,853 
Income (loss) before income taxes (benefit) and noncontrolling interests1,656 3,703 363 (130)5,592 
Income taxes (benefit)389 803 85 (250)1,027 
Net income1,267 2,900 278 120 4,565 
Less: Net income (loss) attributable to noncontrolling interests45 12 (5)52 
Net income excluding noncontrolling interests$1,222 $2,888 $278 $125 $4,513 
Average Assets $113,157 $215,163 $14,360 $205,763 $548,443 
2021
Income Statement
Net interest income$4,572 $3,315 $346 $(448)$7,785 
Noninterest income2,022 2,730 729 818 6,299 
Total revenue6,594 6,045 1,075 370 14,084 
Provision for (recapture of) credit losses(156)(277)8 (27)(452)
Depreciation and amortization214 152 16 385 767 
Other noninterest expense4,828 2,352 660 604 8,444 
Income (loss) before income taxes (benefit) and noncontrolling interests1,708 3,818 391 (592)5,325 
Income taxes (benefit)396 818 91 (399)906 
Net income (loss)1,312 3,000 300 (193)4,419 
Less: Net income attributable to noncontrolling interests26 10 2 38 
Net income (loss) excluding noncontrolling interests$1,286 $2,990 $300 $(195)$4,381 
Average Assets $103,820 $184,964 $11,124 $211,056 $510,964 
(a)There were no material intersegment revenues for the three and nine months ended September 30, 2022 and 2021.
Business Segment Products and Services
Retail Banking provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. As a result of the BBVA acquisition, we have become a coast-to-coast retail bank. Our national expansion strategy is designed to grow customers with digitally-led banking and a thin branch network as we expand into new markets. Deposit products include checking, savings and money market accounts and certificates of deposit. Lending products include residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans and personal and small business loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to agency and/or third-party standards, and either sold, servicing retained or held on our balance sheet. Brokerage, investment management and cash management products and services include managed, education, retirement and trust accounts.

Corporate & Institutional Banking provides lending, treasury management and capital markets related products and services to mid-sized and large corporations, and government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. The Treasury Management business provides corporations with cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services and access to online/mobile information management and reporting services. Within Treasury Management, PNC Global Transfers provides wholesale money transfer processing capabilities between the U.S., Mexico and other countries primarily in Central and South America. Capital markets related products and services include foreign exchange, derivatives, fixed income, securities underwriting, loan syndications, mergers and acquisitions advisory and equity capital markets advisory related services. We also provide commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are provided nationally.

Asset Management Group provides private banking for high net worth and ultra high net worth clients and institutional asset management. The Asset Management group is composed of two distinct operating units:
•PNC Private Bank provides products and services to emerging affluent, high net worth and ultra high net worth individuals and their families including investment and retirement planning, customized investment management, credit and cash
management solutions, trust management and administration. In addition, multi-generational family planning services are also provided to ultra high net worth individuals and their families which include estate, financial, tax, fiduciary and customized performance reporting through PNC Private Bank Hawthorn.
•Institutional Asset Management provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, retirement plan fiduciary investment services to institutional clients including corporations, healthcare systems, insurance companies, unions, municipalities and non-profits.