Capital Actions

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Capital Actions

Capital Actions

Accelerated Share Repurchase Transactions

During the six months ended June 30, 2021, the Bancorp entered into and settled accelerated share repurchase transactions. As part of these transactions, the Bancorp entered into forward contracts in which the final number of shares delivered at settlement was based generally on a discount to the average daily volume weighted-average price of the Bancorp’s common stock during the term of these repurchase agreements. The accelerated share repurchases were treated as two separate transactions, (i) the repurchase of treasury shares on the repurchase date and (ii) a forward contract indexed to the Bancorp’s common stock.

The following table presents a summary of the Bancorp’s accelerated share repurchase transactions that were entered into and settled during the six months ended June 30, 2021:

Repurchase Date	Amount ($ in millions)		Shares Repurchased on Repurchase Date	Shares Received from Forward Contract Settlement	Total Shares Repurchased	Final Settlement Date
January 26, 2021	$	180	4,951,456	366,939	5,318,395	March 31, 2021
April 23, 2021	347		7,894,807	675,295	8,570,102	June 11, 2021

For further information on a subsequent event related to capital actions, refer to Note 23.