Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Table 70: Reconciliation of Changes in Projected Benefit Obligation and Change in Plan Assets

		Qualified				Nonqualified				Postretirement
		Pension				Pension				Benefits
December 31 (Measurement Date) – in millions			2016		2015		2016		2015		2016		2015
Accumulated benefit obligation at end of year		$	4,495	$	4,330	$	282	$	292
Projected benefit obligation at beginning of year		$	4,397	$	4,499	$	298	$	322	$	368	$	379
Service cost			102		107		3		3		6		5
Interest cost			186		177		12		11		15		15
Actuarial (gains)/losses and changes in assumptions			131		(126)		7		(10)		6		(9)
Participant contributions											4		5
Federal Medicare subsidy on benefits paid											1		2
Benefits paid			(269)		(260)		(31)		(28)		(27)		(28)
Settlement payments													(1)
	Projected benefit obligation at end of year	$	4,547	$	4,397	$	289	$	298	$	373	$	368
Fair value of plan assets at beginning of year		$	4,316	$	4,357					$	200
Actual return on plan assets			320		19						(7)
Employer contribution			250		200	$	31	$	28		37	$	222
Participant contributions											4		5
Federal Medicare subsidy on benefits paid											1		2
Benefits paid			(269)		(260)		(31)		(28)		(27)		(28)
Settlement payments													(1)
	Fair value of plan assets at end of year	$	4,617	$	4,316		-		-	$	208		200
Funded status		$	70	$	(81)	$	(289)	$	(298)	$	(165)	$	(168)
Amounts recognized on the consolidated balance sheet
	Noncurrent asset	$	70
	Current liability					$	(27)	$	(27)	$	(2)	$	(2)
	Noncurrent liability			$	(81)		(262)		(271)		(163)		(166)
	Net amount recognized on the consolidated balance sheet	$	70	$	(81)	$	(289)	$	(298)	$	(165)	$	(168)
Amounts recognized in accumulated other comprehensive
	income consist of:
Prior service cost (credit)		$	(7)	$	(13)			$	1	$	(3)	$	(3)
Net actuarial loss			841		794	$	74		71		40		22
	Amount recognized in AOCI	$	834	$	781	$	74	$	72	$	37	$	19

Table 71: Asset Strategy Allocations

	Target Allocation Range				Target Percentage of Plan Assets by Strategy at December 31
PNC Pension Plan					2016		2015
Asset Category
Domestic Equity	20	-	40	%	28	%	32	%
International Equity	10	-	25	%	21	%	23	%
Private Equity	0	-	15	%	8	%	8	%
Total Equity	40	-	70	%	57	%	63	%
Domestic Fixed Income	10	-	40	%	16	%	17	%
High Yield Fixed Income	0	-	25	%	12	%	12	%
Total Fixed Income	10	-	65	%	28	%	29	%
Real estate	0	-	15	%	5	%	5	%
Other	0	-	5	%	10	%	3	%
Total	100%				100	%	100	%

Table 72: Pension Plan Assets - Fair Value Hierarchy

	Fair Value Measurements Using:
In millions	December 31, 2016 Fair Value		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Interest bearing cash	$	45	$	35	$	10
Money market funds		404		404
U.S. government and agency securities		285		158		127
Corporate debt		580				572	$	8
Common stock		652		645		7
Other		60				60
Investments measured at net asset value (a)		2,591
Total	$	4,617	$	1,242	$	776	$	8


		Fair Value Measurements Using:
In millions		December 31, 2015 Fair Value		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Money market funds		$	154	$	154
U.S. government and agency securities			324		186	$	138
Corporate debt			575				568	$	7
Common stock			660		630		30
Other			25		1		24
Investments measured at net asset value (a)			2,578
Total		$	4,316	$	971	$	760	$	7
(a)	In accordance with ASC 820-10, collective trust fund investments and limited partnerships are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheet.

Table 73: Estimated Cash Flows

		Pension Plans				Postretirement Benefits
In millions		Qualified Pension		Nonqualified Pension		Gross PNC Benefit Payments		Reduction in PNC Benefit Payments Due to Medicare Part D Subsidy
Estimated 2017 employer contributions				$	27	$	29	$	1
Estimated future benefit payments
	2017	$	285	$	28	$	29	$	1
	2018	$	300	$	29	$	30	$	1
	2019	$	310	$	26	$	29	$	1
	2020	$	311	$	25	$	29	$	1
	2021	$	312	$	24	$	28	$	1
	2022-2026	$	1,563	$	104	$	132	$	2

Table 74: Components of Net Periodic Benefit Cost

			Qualified Pension Plan						Nonqualified Pension Plan						Postretirement Benefits
Year ended December 31 – in millions				2016		2015		2014		2016		2015		2014		2016		2015		2014
Net periodic cost consists of:
Service cost			$	102	$	107	$	103	$	3	$	3	$	3	$	6	$	5	$	5
Interest cost				186		177		187		12		11		12		15		15		16
Expected return on plan assets				(281)		(297)		(289)								(6)
Amortization of prior service cost/(credit)				(7)		(9)		(8)								(1)		(1)		(2)
Amortization of actuarial (gain)/loss				45		31				5		7		4
Net periodic cost (benefit)				45		9		(7)		20		21		19		14		19		19
Other changes in plan assets and benefit
	obligations recognized in Other
	comprehensive income:
Current year prior service cost/(credit)								(7)
Amortization of prior service (cost)/credit				7		9		8								1		1		2
Current year actuarial loss/(gain)				91		152		434		7		(10)		40		17		(9)		4
Amortization of actuarial gain/(loss)				(45)		(31)				(5)		(7)		(4)
	Total recognized in OCI			53		130		435		2		(17)		36		18		(8)		6
	Total amounts recognized in net
		periodic cost and OCI	$	98	$	139	$	428	$	22	$	4	$	55	$	32	$	11	$	25

Table 75: Net Periodic Costs - Assumptions

		Net Periodic Cost Determination
Year ended December 31		2016		2015		2014
Discount rate
	Qualified pension	4.25	%	3.95	%	4.75	%
	Nonqualified pension	3.95	%	3.65	%	4.35	%
	Postretirement benefits	4.15	%	3.80	%	4.50	%
Rate of compensation increase (average)		3.50	%	4.00	%	4.00	%
Assumed health care cost trend rate
	Initial trend	7.25	%	7.50	%	7.75	%
	Ultimate trend	5.00	%	5.00	%	5.00	%
	Year ultimate trend reached	2025		2025		2025
Expected long-term return on plan assets		6.75	%	6.75	%	7.00	%

Table 76: Other Pension Assumptions


Year ended December 31		2016		2015
Discount rate
	Qualified pension	4.00	%	4.25	%
	Nonqualified pension	3.80	%	3.95	%
	Postretirement benefits	3.90	%	4.15	%
Rate of compensation increase (average)		3.50	%	3.50	%
Assumed health care cost trend rate
	Initial trend	7.00	%	7.25	%
	Ultimate trend	5.00	%	5.00	%
	Year ultimate trend reached	2025		2025