Other Assets

12 Months Ended

Dec. 31, 2021

The following table provides the components of other assets included in the Consolidated Balance Sheets as of December 31:


($ in millions)	2021		2020
Derivative instruments	$	2,908	2,919
Accounts receivable and drafts-in-process	2,560		2,121
Bank owned life insurance	2,041		2,003
Partnership investments	2,022		1,872
Accrued interest and fees receivable	465		486
Operating lease right-of-use assets	427		423
Worldpay, Inc. TRA receivable	317		321
Income tax receivable	237		166
Prepaid expenses	139		129
OREO and other repossessed property	29		30
Other	299		279
Total other assets	$	11,444	10,749

In conjunction with Worldpay, Inc.’s IPO in 2012, the Bancorp entered into two TRAs with Worldpay, Inc. The TRAs provide for payments by Worldpay, Inc. to the Bancorp of 85% of the cash savings actually realized as a result of the increase in tax basis that results from the historical or future purchase of equity in Worldpay Holding, LLC from the Bancorp or from the exchange of equity units in Worldpay Holding, LLC for cash or Class A Stock, as well as any tax benefits attributable to payments made under the TRA.

During the fourth quarter of 2019, the Bancorp entered into an agreement with Fidelity National Information Services, Inc. and Worldpay, Inc. under which Worldpay, Inc. may be obligated to pay up to approximately $366 million to the Bancorp to terminate and settle a portion of the remaining TRA cash flows, totaling an estimated $720 million, upon the exercise of certain call options by Worldpay, Inc. or certain put options by the Bancorp. In 2019, the Bancorp recognized a gain of approximately $345 million in other noninterest income associated with these options. The Worldpay, Inc. TRA receivable associated with this transaction, recorded in other assets in the Consolidated Balance Sheets, was $317 million and $321 million as of December 31, 2021 and 2020, respectively.

Separate from the impact of the TRA settlement agreement discussed above, the Bancorp recognized $46 million, $74 million and $1 million in other noninterest income in the Consolidated Statements of Income associated with the TRA during the years ended December 31, 2021, 2020 and 2019, respectively. The Bancorp expects to receive approximately $78 million of future payments through 2025 under the TRA that are not subject to the call or put options. These remaining cash flows will be recognized in future periods when the related uncertainties are resolved