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Total Equity and Other Comprehensive Income
 6 Months Ended
Jun. 30, 2023
Other Comprehensive Income [Abstract]  
Total Equity and Other Comprehensive Income TOTAL EQUITY AND OTHER COMPREHENSIVE INCOMEActivity in total equity for the three months ended June 30, 2023 and 2022 is as follows:
Table 61: Rollforward of Total Equity
  Shareholders’ Equity    
In millionsShares
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 March 31, 2022 (a)415 $2,713 $5,011 $12,476 $51,058 $(5,731)$(16,346)$35 $49,216 
Net income1,481 15 1,496 
Other comprehensive income (loss), net of tax(2,627)(2,627)
Cash dividends declared - Common(626)(626)
Cash dividends declared - Preferred(71)(71)
Preferred stock discount accretion1 (1) 
Preferred stock issuance (b)992 992 
Common Stock activity114 15 
Treasury stock activity(4)5 (730)(725)
Other32 (14)18 
Balance at June 30, 2022 (a)411 $2,714 $6,004 $12,527 $51,841 $(8,358)$(17,076)$36 $47,688 
Balance at March 31, 2023 (a)399$2,714 $7,235 $12,629 $54,598 $(9,108)$(19,024)$30 $49,074 
Net income 1,483 17 1,500 
Other comprehensive income (loss), net of tax(417)(417)
Cash dividends declared - Common(606)(606)
Cash dividends declared - Preferred(127)(127)
Preferred stock discount accretion2 (2) 
Common stock activity 1 16 17 
Treasury stock activity(1)3 (126)(123)
Other49 (21)28 
Balance at June 30, 2023 (a)398 $2,715 $7,237 $12,697 $55,346 $(9,525)$(19,150)$26 $49,346 
Six months ended
Balance at December 31, 2021 (a)420 $2,713 $5,009 $12,448 $50,228 $409 $(15,112)$31 $55,726 
Net income2,889 36 2,925 
Other comprehensive income (loss), net of tax(8,767)(8,767)
Cash dividends declared - Common(1,157)(1,157)
Cash dividends declared - Preferred (116)(116)
Preferred stock discount accretion3 (3)
Preferred stock issuance (b)992 992 
Common stock activity1 14 15 
Treasury stock activity(9)50 (1,964)(1,914)
Other15 (31)(16)
Balance at June 30, 2022 (a)411 $2,714 $6,004 $12,527 $51,841 $(8,358)$(17,076)$36 $47,688 
Balance at December 31, 2022 (a)401 $2,714 $5,746 $12,630 $53,572 $(10,172)$(18,716)$38 $45,812 
Cumulative effect of ASU adoptions (c)26 26 
Balance at January 1, 2023 (a)401$2,714 $5,746 $12,630 $53,598 $(10,172)$(18,716)$38 $45,838 
Net income3,160 34 3,194 
Other comprehensive income (loss), net of tax647 647 
Cash dividends declared - Common(1,213)(1,213)
Cash dividends declared - Preferred (195)(195)
Preferred stock discount accretion4 (4)
Preferred stock issuance (d)1,487 1,487 
Common stock activity 1 16 17 
Treasury stock activity(3)73 (434)(361)
Other(22)(46)(68)
Balance at June 30, 2023 (a)398 $2,715 $7,237 $12,697 $55,346 $(9,525)$(19,150)$26 $49,346 
(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 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.
(c)Represents the cumulative effect of adopting ASU 2022-02.
(d)On February 7, 2023, PNC issued 1,500,000 depositary shares each representing 1/100th ownership in a share of 6.250% fixed-rate reset non-cumulative perpetual preferred stock, Series W, with a par value of $1 per share.
Details of other comprehensive income (loss) are as follows:

Table 62: Other Comprehensive Income (Loss)

 Three months ended June 30Six months ended June 30
2023202220232022
In millionsPre-taxTax effectAfter-taxPre-taxTax effectAfter-taxPre-taxTax effectAfter-taxPre-taxTax effectAfter-tax
Debt securities
Net unrealized gains (losses) on securities$(476)$112 $(364)$(2,929)$690 $(2,239)$178 $(42)$136 $(9,247)$2,179 $(7,068)
Less: Net realized gains (losses) reclassified to
    earnings (a)
(235)55 (180)(214)50 (164)(450)106 (344)(217)51 (166)
Net change (241)57 (184)(2,715)640 (2,075)628 (148)480 (9,030)2,128 (6,902)
Cash flow hedge derivatives
Net unrealized gains (losses) on cash flow hedge derivatives(689)162 (527)(676)159 (517)(492)116 (376)(2,332)549 (1,783)
Less: Net realized gains (losses) reclassified to earnings (a)(373)88 (285)25 (6)19 (703)166 (537)127 (30)97 
Net change(316)74 (242)(701)165 (536)211 (50)161 (2,459)579 (1,880)
Pension and other postretirement benefit plan adjustments
Net pension and other postretirement benefit plan activity and other reclassified to earnings (b)6 (1)5 8 (2)6 (4)1 (3)62 (15)47 
Net change 6 (1)5 8 (2)6 (4)1 (3)62 (15)47 
Other
Net unrealized gains (losses) on other transactions3 1 4 (4)(18)(22)7 2 9 (7)(25)(32)
Net change 3 1 4 (4)(18)(22)7 2 9 (7)(25)(32)
Total other comprehensive income (loss)$(548)$131 $(417)$(3,412)$785 $(2,627)$842 $(195)$647 $(11,434)$2,667 $(8,767)
(a)Reclassifications for pre-tax debt securities and cash flow hedges are recorded in Interest income and Noninterest income on the Consolidated Income Statement.
(b)Reclassifications include amortization of actuarial losses (gains) and amortization of prior period services costs (credits) which are recorded in Noninterest expense on the Consolidated Income Statement.
Table 63: Accumulated Other Comprehensive Income (Loss) Components
In millions, after-taxDebt securities Cash flow hedge derivativesPension and  other postretirement benefit plan adjustmentsOtherTotal
Three months ended
Balance at March 31, 2022$(4,238)$(1,545)$68 $(16)$(5,731)
Net activity(2,075)(536)6 (22)(2,627)
Balance at June 30, 2022 (a)$(6,313)$(2,081)$74 $(38)$(8,358)
Balance at March 31, 2023$(6,500)$(2,302)$(259)$(47)$(9,108)
Net activity (184)(242)5 4 (417)
Balance at June 30, 2023 (a)$(6,684)$(2,544)$(254)$(43)$(9,525)
Six months ended
Balance at December 31, 2021$589 $(201)$27 $(6)$409 
Net activity(6,902)(1,880)47 (32)(8,767)
Balance at June 30, 2022 (a)$(6,313)$(2,081)$74 $(38)$(8,358)
Balance at December 31, 2022$(7,164)$(2,705)$(251)$(52)$(10,172)
Net activity480 161 (3)9 647 
Balance at June 30, 2023 (a)$(6,684)$(2,544)$(254)$(43)$(9,525)
(a)AOCI included pretax losses of $301 million and $141 million from derivatives that hedged the purchase of investment securities classified as held to maturity at June 30, 2023 and June 30, 2022, respectively.
The following table provides the dividends per share for PNC’s common and preferred stock:

Table 64: Dividends Per Share (a)
Three months ended June 30Six months ended June 30
2023202220232022
Common Stock$1.50 $1.50 $3.00 $2.75 
Preferred Stock
   Series B$0.45 $0.45 $0.90 $0.90 
   Series O$2,100 $987 $4,174 $1,961 
   Series P $1,532  $3,063 
   Series R$2,425 $2,425 $2,425 $2,425 
Series S$2,500 $2,500 $2,500 $2,500 
   Series T$850 $850 $1,700 $1,700 
Series U $1,500  $3,000 
Series V$1,550  $3,100 
Series W$2,222 $2,222 
(a)     Dividends are payable quarterly other than Series R and S preferred stock, which are payable semiannually.

On July 3, 2023, the PNC Board of Directors raised the quarterly cash dividend on common stock to $1.55 per share, an increase of 5 cents per share. The dividend, with a payment date of August 5, 2023, will be payable the next business day.