Non-GAAP
to GAAP
Reconcilement
Income Statement Summary
2004 to 2006 (continued)
Appendix
For the year ended December 31, 2004
BlackRock
PNC
Deconsolidation and
BlackRock
PNC
In millions
As Reported
Other Adjustments
Equity Method
As Adjusted
Net interest income
$1,969
$(14)
$1,955
Provision for credit losses
52
52
Noninterest income
3,572
(745)
$101
2,928
Noninterest expense
3,712
(564)
3,148
Income before minority interest and income taxes
1,777
(195)
101
1,683
Minority interest in income of BlackRock
42
(42)
Income taxes
538
(59)
7
486
Net income
$1,197
$(94)
$94
$1,197
CAGR
In millions
2004
2005
2006
As Adjusted
Adjusted net interest income
$1,955
$2,142
$2,235
Adjusted noninterest income
2,928
3,122
3,572
Adjusted total revenue
4,883
5,264
5,807
9%
Adjusted noninterest expense
3,148
3,453
3,587
7%
Adjusted net income
$1,197
$1,325
$1,514
12%
In millions
2004
2005
2006
CAGR
Net interest income, as reported
$1,969
$2,154
$2,245
Noninterest income, as reported
3,572
4,173
6,327
Total revenue, as reported
5,541
6,327
8,572
24%
Noninterest expense, as reported
3,712
4,306
4,443
9%
Net income, as reported
$1,197
$1,325
$2,595
47%
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