PNC Financial Services Group (PNC) FY2012 results: revenue $15.5 billion, up 8.3% on the year
PNC Financial Services Group, Inc. (PNC) reported revenue of $15.5 billion for fiscal 2012, the year ended 31 December 2012, up 8.3% on the year before. Net income was $2.8 billion, down 6.0%, and diluted earnings per share $5.28. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$15.5 billion
+8.3% on the year
FY2007FY2012
Operating margin
n/a
FY2007FY2012
Net income
$2.8 billion
-6.0% on the year
FY2007FY2012
Diluted EPS
$5.28
-6.4% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
15,512
14,326
15,176
+8.3%
Interest expense
1,094
1,494
1,920
-26.8%
Pre-tax income
4,039
4,069
4,061
-0.7%
Income tax
1,045
998
1,037
+4.7%
Effective tax rate
25.9%
24.5%
25.5%
Net income
2,806
2,986
3,000
-6.0%
Net margin
18.1%
20.8%
19.8%
Diluted EPS
$5.28
$5.64
$5.74
-6.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
6,827
6,035
4,811
+13.1%
Cash from investing
-17,261
-6,549
5,729
Cash from financing
11,549
1,322
-11,531
+773.6%
Depreciation and amortisation
707
659
697
+7.3%
Share-based compensation
101
103
107
-1.9%
Buybacks
216
73.0
204
+195.9%
Dividends paid
820
604
204
+35.8%
Diluted shares, weighted
529m
526m
520m
+0.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
39,003
34,053
30,242
+14.5%
Non-controlling interest
2,762
3,193
2,596
-13.5%
Deposits
213,142
187,966
183,390
+13.4%
Repurchase agreements
3,327
2,984
4,144
+11.5%
Debt
40,907
36,704
39,488
+11.5%
Other liabilities
5,966
6,305
4,424
-5.4%
Total liabilities and equity
305,107
271,205
264,284
+12.5%
Fixed assets
5,428
4,644
4,059
+16.9%
Goodwill
9,072
8,285
8,149
+9.5%
Intangible assets
1,797
1,859
2,604
-3.3%
Securities held for sale or to maturity
10,354
60,266
63,884
-82.8%
Loans
181,820
154,667
145,708
+17.6%
Resale agreements
1,463
2,205
3,704
-33.7%
Trading assets
2,096
2,513
1,826
-16.6%
Other assets
93,077
36,766
34,350
+153.2%
Total assets
305,107
271,205
264,284
+12.5%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.