No effect on net cash flows, revenues, net income, consolidated balance
sheets or shareholders' equity
PITTSBURGH, Feb. 4 /PRNewswire-FirstCall/ -- The PNC Financial Services
Group, Inc. (NYSE: PNC) today announced that it has filed an amended Form
10-K for the year ended December 31, 2006, affecting the Consolidated
Statements of Cash Flows for the year ended December 31, 2006.
The change is limited to the Consolidated Statement of Cash Flows for
the year ended December 31, 2006, and does not impact any of the
corporation's other financial statements or previously reported results.
This change resulted solely from the misclassification of cash flows
related to the corporation's fourth quarter 2006 issuance of perpetual
trust securities of $489 million. The cash flows related to the issuance of
these securities had been classified within the "Operating Activities"
section of the Consolidated Statement of Cash Flows. Management has
concluded that the impact of this and similar subsequent transactions
should be classified within the "Financing Activities" section of the
Consolidated Statement of Cash Flows.
The PNC Financial Services Group, Inc. (http://www.pnc.com) is one of the
nation's largest diversified financial services organizations providing
retail and business banking; specialized services for corporations and
government entities, including corporate banking, real estate finance and
asset-based lending; wealth management; asset management and global fund
services.
SOURCE PNC Financial Services Group, Inc.
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Related links:
http://www.pnc.com
http://www.prnewswire.com/comp/701257.html /
CONTACT:
Media: Fred Solomon, +1-412-762-4550,
corporate.communications@pnc.com, or Investors: William H.
Callihan, +1-412-762-8257, investor.relations@pnc.com, both of
PNC Financial Services Group, Inc.
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