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Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Statements Parent Company Financial Statements
Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions)202320222021
Income
Dividends from consolidated nonbank subsidiaries(a)
$1,819 165 3,040 
Securities gains (losses), net4 (9)1 
Interest 63 11 11 
Total income1,886 167 3,052 
Expenses
Interest525 311 250 
Other39 19 30 
Total expenses564 330 280 
Income (Loss) Before Income Taxes and Equity in Undistributed Earnings of Subsidiaries1,322 (163)2,772 
Applicable income tax benefit(112)(76)(62)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries1,434 (87)2,834 
Equity in undistributed earnings915 2,533 (64)
Net Income Attributable to Bancorp$2,349 2,446 2,770 
Other Comprehensive Income— — — 
Comprehensive Income Attributable to Bancorp$2,349 2,446 2,770 
(a)Includes dividends paid by the Bancorp’s indirect banking subsidiary to the Bancorp’s direct nonbank subsidiary holding company of $1.8 billion and $3.0 billion for the years ended December 31, 2023 and 2021, respectively. The Bancorp’s indirect banking subsidiary did not pay dividends during the year ended December 31, 2022.

Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)20232022
Assets
Cash$120 120 
Other short-term investments6,500 5,667 
Available-for-sale debt and other securities1,000 1,000 
Equity securities34 34 
Loans to nonbank subsidiaries— 60 
Investment in nonbank subsidiaries21,998 20,256 
Goodwill80 80 
Other assets179 326 
Total Assets$29,911 27,543 
Liabilities
Other short-term borrowings$— 121 
Accrued expenses and other liabilities631 764 
Long-term debt (external)10,108 9,331 
Total Liabilities$10,739 10,216 
Equity
Common stock$2,051 2,051 
Preferred stock2,116 2,116 
Capital surplus3,757 3,684 
Retained earnings22,997 21,689 
Accumulated other comprehensive loss(4,487)(5,110)
Treasury stock(7,262)(7,103)
Total Equity19,172 17,327 
Total Liabilities and Equity$29,911 27,543 
Condensed Statements of Cash Flows (Parent Company Only)   
For the years ended December 31 ($ in millions)202320222021
Operating Activities   
Net income$2,349 2,446 2,770 
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion7 7 7 
Provision for (benefit from) deferred income taxes1 (3)(1)
Securities (gains) losses, net(4)9 (1)
Equity in undistributed earnings(915)(2,533)64 
Net change in:
Equity securities4 6 1 
Other assets147 (115)(40)
Accrued expenses and other liabilities(126)45 (80)
Net Cash Provided by (Used in) Operating Activities1,463 (138)2,720 
Investing Activities
Proceeds from maturities of securities issued by subsidiary1,000 — — 
Purchase of securities issued by subsidiary(1,000)(1,000)— 
Net change in:
Other short-term investments(833)567 (656)
Loans to nonbank subsidiaries60 132 158 
Net Cash Used in Investing Activities(773)(301)(498)
Financing Activities
Net change in other short-term borrowings(121)(240)(89)
Proceeds from issuance of long-term debt1,244 2,986 498 
Repayment of long-term debt(500)(1,200)(250)
Dividends paid on common and preferred stock(1,060)(927)(897)
Repurchase of treasury stock and related forward contract(200)(100)(1,393)
Other, net(53)(82)(89)
Net Cash (Used in) Provided by Financing Activities(690)437 (2,220)
(Decrease) Increase in Cash— (2)2 
Cash at Beginning of Period120 122 120 
Cash at End of Period$120 120 122