8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

August 16, 2006

Date of Report (Date of earliest event reported)

THE PNC FINANCIAL SERVICES GROUP, INC.

(Exact name of registrant as specified in its charter)

Commission File Number 001-09718

Pennsylvania	25-1435979
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

One PNC Plaza

249 Fifth Avenue

Pittsburgh, Pennsylvania 15222-2707

(Address of principal executive offices, including zip code)

(412) 762-2000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

As previously reported, on February 15, 2006, The PNC Financial Services Group, Inc. (“PNC”) announced that its majority-owned subsidiary, BlackRock, Inc. (“BlackRock”), and Merrill Lynch had entered into a definitive agreement pursuant to which Merrill Lynch will contribute its investment management business (“MLIM”) to BlackRock in exchange for newly issued BlackRock common and preferred stock. Upon the closing of this transaction, which is expected to occur around September 30, 2006, Merrill Lynch would own 65 million equity shares, or approximately 49%, of the combined company. At closing, PNC expects to continue to own approximately 44 million shares of BlackRock common stock, representing an ownership interest of approximately 34% of the larger company. PNC would deconsolidated BlackRock from its consolidated financial statements as required under generally accepted accounting principles and account for its investment in BlackRock under the equity method.

PNC is furnishing this Current Report on Form 8-K (“Report”) to present, for informational purposes only, historical financial information adjusted as if (1) the anticipated deconsolidation of BlackRock from PNC’s consolidated financial statements had occurred January 1, 2003, and (2) PNC’s investment in BlackRock had been accounted for under the equity method subsequent to that date. The adjusted historical financial information included in this Report does not reflect any pro forma adjustments related to the pending BlackRock/MLIM transaction.

BlackRock investment revenue included in this adjusted historical presentation represents the equivalent of the historically consolidated earnings of BlackRock, net of minority interest and certain costs related to PNC’s funding obligation for BlackRock’s 2002 long-term retention and incentive plan (“LTIP”). These LTIP costs historically have been reported in noninterest expense in the Consolidated Income Statement and in “Other” for business segment reporting purposes. Additional information about the LTIP is included in PNC’s Annual Report on Form 10-K for the year ended December 31, 2005 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2006.

Schedules that disclose this adjusted historical financial information are included in this Report as Exhibit 99.1 and are furnished herewith for the following periods:

• Three months ended June 30, 2006, March 31, 2006, December 31, 2005, September 30, 2005 and June 30, 2005, and

• Years ended December 31, 2005, 2004 and 2003.

The information included in this Report does not in any way restate or revise PNC’s net income in any previously reported consolidated financial statements. Certain amounts in this Report have been reclassified to conform with the presentation reflected in PNC’s second quarter 2006 earnings press release materials included with the two PNC Current Reports on Form 8-K filed July 19, 2006 and in PNC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2006. Those reports include additional information regarding BlackRock balance sheet amounts and assets under management which would be deconsolidated by PNC.

PNC intends to provide additional information regarding the financial statement impact of the BlackRock/MLIM transaction after it becomes available.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits. The exhibit listed on the Exhibit Index accompanying this Form 8-K is furnished herewith.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	THE PNC FINANCIAL SERVICES GROUP, INC. (Registrant)
Date: August 16, 2006	By:	/s/ Samuel R. Patterson
		Samuel R. Patterson
		Controller

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EXHIBIT INDEX

Number	Description	Method of Filing
99.1	Historical financial information for the periods specified under Item 7.01 of this Report, as adjusted, for informational purposes only, as if (1) the anticipated deconsolidation of BlackRock from PNC’s consolidated financial statements had occurred January 1, 2003, and (2) PNC’s investment in BlackRock had been accounted for under the equity method subsequent to that date.	Furnished herewith

EX-99.1

Exhibit 99.1

The PNC Financial Services Group, Inc.

Historical financial information as adjusted, for informational purposes only, as if (1) the anticipated deconsolidation of BlackRock from PNC’s consolidated financial statements had occurred January 1, 2003, and (2) PNC’s investment in BlackRock had been accounted for under the equity method subsequent to that date.

	Page
Condensed Consolidated Income Statement – As Adjusted (Unaudited)
Three months ended June 30, 2006, March 31, 2006, December 31, 2005, September 30, 2005 and June 30, 2005	1
Years ended December 31, 2005, 2004 and 2003	7
Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)
Three months ended June 30, 2006	2
Three months ended March 31, 2006	3
Three months ended December 31, 2005	4
Three months ended September 30, 2005	5
Three months ended June 30, 2005	6
Year ended December 31, 2005	8
Year ended December 31, 2004	9
Year ended December 31, 2003	10

THE PNC FINANCIAL SERVICES GROUP, INC.

Condensed Consolidated Income Statement - As Adjusted (Unaudited)

For the three months ended - in millions	June 30 2006			March 31 2006			December 31 2005			September 30 2005			June 30 2005
Net Interest Income
Interest income	$	1,120		$	1,061		$	1,027		$	991		$	896
Interest expense		568			508			477			434			365
Net interest income		552			553			550			557			531
Provision for (recoveries of) credit losses		44			22			24			16			(27	)
Net interest income less provision for (recoveries of) credit losses		508			531			526			541			558
Noninterest Income
Asset management		80			76			77			77			74
BlackRock investment (a)		44			52			50			40			36
Other		789			703			709			721			583
Total noninterest income		913			831			836			838			693
Noninterest Expense
Compensation and benefits		457			450			451			476			436
Other (b)		424			418			418			454			406
Total noninterest expense		881			868			869			930			842
Income before income taxes		540			494			493			449			409
Income taxes		159			140			138			115			127
Net income	$	381		$	354		$	355		$	334		$	282
Noninterest income to total revenue		62	%		60	%		60	%		60	%		57	%
Efficiency (c)		60	%		63	%		63	%		67	%		69	%

(a) BlackRock investment revenue represents PNC’s 69% or 70%, as applicable, ownership interest in earnings of BlackRock adjusted for certain costs related to PNC’s funding obligation for the LTIP.

(b) Other noninterest expense includes PNC’s remaining minority and noncontrolling interests which is immaterial after the BlackRock deconsolidation.

(c) Calculated as noninterest expense divided by the sum of net interest income and noninterest income.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 1

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

For the three months ended June 30, 2006 - in millions	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		PNC LTIP Costs (b)	Minority Interests Reclass (c)			PNC As Adjusted
				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	1,126		$	(6	)										$	1,120
Interest expense		570			(2	)											568
Net interest income		556			(4	)											552
Provision for credit losses		44															44
Net interest income less provision for credit losses		512			(4	)											508
Noninterest Income
Asset management		429			(349	)											80
BlackRock investment										$	44						44
Other		801			(12	)											789
Total noninterest income		1,230			(361	)					44						913
Noninterest Expense
Compensation and benefits		634			(177	)											457
Other		515			(87	)							$	(4	)		424
Total noninterest expense		1,149			(264	)								(4	)		881
Income before minority and noncontrolling interests and income taxes		593			(101	)					44			4			540
Minority and noncontrolling interests in income of consolidated entities		15					$	(19	)					4
Income taxes		197			(38	)											159
Net income	$	381		$	(63	)	$	19		$	44					$	381
Noninterest income to total revenue		69	%														62	%
Efficiency		64	%														60	%

(a) BlackRock investment revenue represents PNC’s 69% ownership interest in earnings of BlackRock.

(b) Represents certain costs related to PNC’s funding obligation for the LTIP that were less than $.5 million for the three months ended June 30, 2006.

(c) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 2

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		PNC LTIP Costs (b)		Minority Interests Reclass (c)			PNC As Adjusted
For the three months ended March 31, 2006 - in millions				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	1,066		$	(5	)											$	1,061
Interest expense		510			(2	)												508
Net interest income		556			(3	)												553
Provision for credit losses		22																22
Net interest income less provision for credit losses		534			(3	)												531
Noninterest Income
Asset management		461			(385	)												76
BlackRock investment										$	49	$	3					52
Other		724			(21	)												703
Total noninterest income		1,185			(406	)					49		3					831
Noninterest Expense
Compensation and benefits		642			(192	)												450
Other		529			(104	)							3	$	(10	)		418
Total noninterest expense		1,171			(296	)							3		(10	)		868
Income before minority and noncontrolling interests and income taxes		548			(113	)					49				10			494
Minority and noncontrolling interests in income of consolidated entities		13			(1	)	$	(22	)						10
Income taxes		181			(41	)												140
Net income	$	354		$	(71	)	$	22		$	49						$	354
Noninterest income to total revenue		68	%															60	%
Efficiency		67	%															63	%

(a) BlackRock investment revenue represents PNC’s 69% ownership interest in earnings of BlackRock.

(b) Represents certain credits related to PNC’s funding obligation for the LTIP.

(c) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 3

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		PNC LTIP Costs (b)			Minority Interests Reclass (c)			PNC As Adjusted
For the three months ended December 31, 2005 - in millions				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	1,034		$	(7	)												$	1,027
Interest expense		479			(2	)													477
Net interest income		555			(5	)													550
Provision for credit losses		24																	24
Net interest income less provision for credit losses		531			(5	)													526
Noninterest Income
Asset management		431			(354	)													77
BlackRock investment										$	51	$	(1	)					50
Other		723			(14	)													709
Total noninterest income		1,154			(368	)					51		(1	)					836
Noninterest Expense
Compensation and benefits		633			(182	)													451
Other		512			(74	)							(1	)	$	(19	)		418
Total noninterest expense		1,145			(256	)							(1	)		(19	)		869
Income before minority and noncontrolling interests and income taxes		540			(117	)					51					19			493
Minority and noncontrolling interests in income of consolidated entities		4			(1	)	$	(22	)							19
Income taxes		181			(43	)													138
Net income	$	355		$	(73	)	$	22		$	51							$	355
Noninterest income to total revenue		68	%																60	%
Efficiency		67	%																63	%

(a) BlackRock investment revenue represents PNC’s 70% ownership interest in earnings of BlackRock.

(b) Represents certain costs related to PNC’s funding obligation for the LTIP.

(c) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 4

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

For the three months ended September 30, 2005 - in millions	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		PNC LTIP Costs (b)			Minority Interests Reclass (c)			PNC As Adjusted
				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	995		$	(4	)												$	991
Interest expense		436			(2	)													434
Net interest income		559			(2	)													557
Provision for credit losses		16																	16
Net interest income less provision for credit losses		543			(2	)													541
Noninterest Income
Asset management		364			(287	)													77
BlackRock investment										$	42	$	(2	)					40
Other		752			(31	)													721
Total noninterest income		1,116			(318	)					42		(2	)					838
Noninterest Expense
Compensation and benefits		631			(155	)													476
Other		528			(66	)							(2	)	$	(6	)		454
Total noninterest expense		1,159			(221	)							(2	)		(6	)		930
Income before minority and noncontrolling interests and income taxes		500			(99	)					42					6			449
Minority and noncontrolling interests in income of consolidated entities		14			(1	)	$	(19	)							6
Income taxes		152			(37	)													115
Net income	$	334		$	(61	)	$	19		$	42							$	334
Noninterest income to total revenue		67	%																60	%
Efficiency		69	%																67	%

(a) BlackRock investment revenue represents PNC’s 70% ownership interest in earnings of BlackRock.

(b) Represents certain costs related to PNC’s funding obligation for the LTIP.

(c) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 5

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

For the three months ended June 30, 2005 - in millions	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		PNC LTIP Costs (b)			Minority Interests Reclass (c)			PNC As Adjusted
				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	901		$	(5	)												$	896
Interest expense		367			(2	)													365
Net interest income		534			(3	)													531
Provision for (recoveries of) credit losses		(27	)																(27	)
Net interest income less provision for (recoveries of) credit losses		561			(3	)													558
Noninterest Income
Asset management		334			(260	)													74
BlackRock investment										$	37	$	(1	)					36
Other		595			(12	)													583
Total noninterest income		929			(272	)					37		(1	)					693
Noninterest Expense
Compensation and benefits		567			(131	)													436
Other		473			(58	)							(1	)	$	(8	)		406
Total noninterest expense		1,040			(189	)							(1	)		(8	)		842
Income before minority and noncontrolling interests and income taxes		450			(86	)					37					8			409
Minority and noncontrolling interests in income of consolidated entities		9			(1	)	$	(16	)							8
Income taxes		159			(32	)													127
Net income	$	282		$	(53	)	$	16		$	37							$	282
Noninterest income to total revenue		63	%																57	%
Efficiency		71	%																69	%

(a) BlackRock investment revenue represents PNC’s 70% ownership interest in earnings of BlackRock.

(b) Represents certain costs related to PNC’s funding obligation for the LTIP.

(c) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 6

THE PNC FINANCIAL SERVICES GROUP, INC.

Condensed Consolidated Income Statement - As Adjusted (Unaudited)

For the year ended December 31 - in millions	2005			2004			2003
Net Interest Income
Interest income	$	3,714		$	2,737		$	2,695
Interest expense		1,572			782			715
Net interest income		2,142			1,955			1,980
Provision for credit losses		21			52			177
Net interest income less provision for credit losses		2,121			1,903			1,803
Noninterest Income
Asset management		300			279			273
BlackRock investment (a)		158			95			108
Other		2,659			2,548			2,386
Total noninterest income		3,117			2,922			2,767
Noninterest Expense
Compensation and benefits		1,798			1,673			1,576
Other (b)		1,650			1,469			1,522
Total noninterest expense		3,448			3,142			3,098
Income before income taxes		1,790			1,683			1,472
Income taxes		465			486			443
Income before cumulative effect of accounting change		1,325			1,197			1,029
Cumulative effect of accounting change (less applicable income tax benefit of $14)								(28	)
Net income	$	1,325		$	1,197		$	1,001
Noninterest income to total revenue		59	%		60	%		58	%
Efficiency		66	%		64	%		65	%

(a) BlackRock investment revenue represents PNC’s 70% or 71%, as applicable, ownership interest in BlackRock adjusted for certain costs related to PNC’s funding obligation for the LTIP.

(b) Other noninterest expense includes PNC’s remaining minority and noncontrolling interests which is immaterial after the BlackRock deconsolidation.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 7

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		PNC LTIP Costs (b)			Minority Interests Reclass (c)			PNC As Adjusted
For the year ended December 31, 2005 - in millions				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	3,734		$	(20	)												$	3,714
Interest expense		1,580			(8	)													1,572
Net interest income		2,154			(12	)													2,142
Provision for credit losses		21																	21
Net interest income less provision for credit losses		2,133			(12	)													2,121
Noninterest Income
Asset management		1,443			(1,143	)													300
BlackRock investment										$	163	$	(5	)					158
Other		2,730			(71	)													2,659
Total noninterest income		4,173			(1,214	)					163		(5	)					3,117
Noninterest Expense
Compensation and benefits		2,393			(595	)													1,798
Other		1,951			(255	)							(5	)	$	(41	)		1,650
Total noninterest expense		4,344			(850	)							(5	)		(41	)		3,448
Income before minority and noncontrolling interests and income taxes		1,962			(376	)					163					41			1,790
Minority and noncontrolling interests in income of consolidated entities		33			(3	)	$	(71	)							41
Income taxes		604			(139	)													465
Net income	$	1,325		$	(234	)	$	71		$	163							$	1,325
Noninterest income to total revenue		66	%																59	%
Efficiency		69	%																66	%

(a) BlackRock investment revenue represents PNC’s 70% ownership interest in earnings of BlackRock.

(b) Represents certain costs related to PNC’s funding obligation for the LTIP.

(c) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 8

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		PNC LTIP Costs (b)			Minority Interests Reclass (c)			PNC As Adjusted
For the year ended December 31, 2004 - in millions				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	2,752		$	(15	)												$	2,737
Interest expense		783			(1	)													782
Net interest income		1,969			(14	)													1,955
Provision for credit losses		52																	52
Net interest income less provision for credit losses		1,917			(14	)													1,903
Noninterest Income
Asset management		994			(715	)													279
BlackRock investment										$	101	$	(6	)					95
Other		2,578			(30	)													2,548
Total noninterest income		3,572			(745	)					101		(6	)					2,922
Noninterest Expense
Compensation and benefits		2,064			(391	)													1,673
Other		1,680			(168	)							(6	)	$	(37	)		1,469
Total noninterest expense		3,744			(559	)							(6	)		(37	)		3,142
Income before minority and noncontrolling interests and income taxes		1,745			(200	)					101					37			1,683
Minority and noncontrolling interests in income of consolidated entities		10			(5	)	$	(42	)							37
Income taxes		538			(52	)													486
Net income	$	1,197		$	(143	)	$	42		$	101							$	1,197
Noninterest income to total revenue		64	%																60	%
Efficiency		68	%																64	%

(a) BlackRock investment revenue represents PNC’s 71% ownership interest in earnings of BlackRock.

(b) Represents certain costs related to PNC’s funding obligation for the LTIP.

(c) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

Page 9

THE PNC FINANCIAL SERVICES GROUP, INC.

Illustrative Impact Of Equity Method Of Accounting For BlackRock (Unaudited)

	PNC As Reported			Deconsolidation						BlackRock Equity Method (a)		Minority Interests Reclass (b)			PNC As Adjusted
For the year ended December 31, 2003 - in millions				BlackRock			BlackRock Minority Interest
Net Interest Income
Interest income	$	2,712		$	(17	)									$	2,695
Interest expense		716			(1	)										715
Net interest income		1,996			(16	)										1,980
Provision for credit losses		177														177
Net interest income less provision for credit losses		1,819			(16	)										1,803
Noninterest Income
Asset management		861			(588	)										273
BlackRock investment										$	108					108
Other		2,402			(16	)										2,386
Total noninterest income		3,263			(604	)					108					2,767
Noninterest Expense
Compensation and benefits		1,804			(228	)										1,576
Other		1,678			(141	)						$	(15	)		1,522
Total noninterest expense		3,482			(369	)							(15	)		3,098
Income before minority and noncontrolling interests and income taxes		1,600			(251	)					108		15			1,472
Minority and noncontrolling interests in income of consolidated entities		32					$	(47	)				15
Income taxes		539			(96	)										443
Income before cumulative effect of accounting change		1,029			(155	)		47			108					1,029
Cumulative effect of accounting change (less applicable income tax benefit of $14)		(28	)													(28	)
Net income	$	1,001		$	(155	)	$	47		$	108				$	1,001
Noninterest income to total revenue		62	%													58	%
Efficiency		66	%													65	%

(a) BlackRock investment revenue represents PNC’s 70% ownership interest in earnings of BlackRock.

(b) After deconsolidation of BlackRock, PNC’s remaining minority and noncontrolling interests is immaterial and therefore has been reclassified into other noninterest expense.

Note: “As adjusted” financial information shows the impact of the change in accounting for BlackRock that is expected subsequent to the anticipated BlackRock/MLIM closing. Historical financial information has been adjusted for the deconsolidation of BlackRock, and BlackRock is shown as if accounted for under the equity method.

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