Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Summary of the Bancorp's Long-Term Borrowings

The following table is a summary of the Bancorp’s long-term borrowings at December 31:


($ in millions)	Maturity			Interest Rate			2021		2020
Parent Company
Senior:
Floating-rate notes(a)	2021			0.70%			$	—	250
Fixed-rate notes	2022			2.60%			700		699
Fixed-rate notes	2022			3.50%			500		499
Fixed-rate notes	2023			1.625%			499		498
Fixed-rate notes	2024			3.65%			1,496		1,494
Fixed-rate notes	2025			2.375%			748		747
Fixed-rate notes	2027			2.55%			746		746
Fixed-rate/floating-rate notes(b)	2027			1.707%			496		—
Fixed-rate notes	2028			3.95%			647		647
Subordinated:(c)
Fixed-rate notes	2024			4.30%			749		748
Fixed-rate notes	2038			8.25%			1,346		1,433
Subsidiaries
Senior:
Fixed-rate notes	2021			2.25%			—		1,249
Fixed-rate notes	2021			2.875%			—		849
Fixed-rate notes	2021			3.35%			—		506
Floating-rate notes(a)	2021			0.655%			—		300
Floating-rate notes(c)(d)	2022			0.772%			300		300
Fixed-rate notes	2023			1.80%			649		648
Fixed-rate notes	2025			3.95%			795		836
Fixed-rate notes	2027			2.25%			598		598
Subordinated:(c)
Fixed-rate notes	2026			3.85%			748		748
Fixed-rate notes	2027			4.00%			172		172
Junior subordinated:
Floating-rate debentures(c)(d)	2035			1.62%	-	1.89%	54		54
FHLB advances	2022	-	2047	0.05%	-	5.87%	44		67
Notes associated with consolidated VIEs:
Automobile loan securitizations:
Fixed-rate notes	2022	-	2026	2.03%	-	2.69%	250		623
Other	2022	-	2052	Varies			284		262
Total							$	11,821	14,973

(a)These rates reflect the floating rates as of December 31, 2020.

(b)This rate reflects the fixed rate in effect as of December 31, 2021.

(c)In aggregate, $2.5 billion and $2.8 billion qualifies as Tier 2 capital for regulatory capital purposes for the years ended December 31, 2021 and 2020, respectively.

(d)These rates reflect the floating rates as of December 31, 2021.

Schedule of Long-term Debt Maturities

The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2021 are presented in the following table:


($ in millions)	Parent Company		Subsidiaries	Total
2022	$	1,200	310	1,510
2023	499		821	1,320
2024	2,245		19	2,264
2025	748		856	1,604
2026	—		890	890
Thereafter	3,235		998	4,233
Total	$	7,927	3,894	11,821

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details