Loans and Leases (Tables)

12 Months Ended

Dec. 31, 2023

Loans and Leases Classified by Primary Purpose

The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of December 31:


($ in millions)	2023		2022
Loans and leases held for sale:
Commercial and industrial loans	$	41	73

Commercial leases	3		—
Residential mortgage loans	334		934
Total loans and leases held for sale	$	378	1,007
Portfolio loans and leases:
Commercial and industrial loans	$	53,270	57,232
Commercial mortgage loans	11,276		11,020
Commercial construction loans	5,621		5,433
Commercial leases	2,579		2,704
Total commercial loans and leases	$	72,746	76,389
Residential mortgage loans	$	17,026	17,628
Home equity	3,916		4,039
Indirect secured consumer loans	14,965		16,552
Credit card	1,865		1,874
Other consumer loans	6,716		4,998
Total consumer loans	$	44,488	45,091
Total portfolio loans and leases	$	117,234	121,480

Total Loans and Leases Owned by the Bancorp

The following table presents a summary of the total loans and leases owned by the Bancorp and net charge-offs (recoveries) as of and for the years ended December 31:


	Carrying Value			90 Days Past Due and Still Accruing(a)		Net Charge-Offs (Recoveries)
($ in millions)	2023		2022	2023	2022	2023	2022
Commercial and industrial loans	$	53,311	57,305	8	11	155	96
Commercial mortgage loans	11,276		11,020	—	—	(2)	(1)
Commercial construction loans	5,621		5,433	—	—	1	2
Commercial leases	2,582		2,704	—	2	(1)	4
Residential mortgage loans	17,360		18,562	7	7	—	(2)
Home equity	3,916		4,039	—	1	1	(2)
Indirect secured consumer loans	14,965		16,552	—	—	72	36
Credit card	1,865		1,874	21	18	64	52
Other consumer loans	6,716		4,998	—	1	98	42
Total loans and leases	$	117,612	122,487	36	40	388	227
Less: Loans and leases held for sale	378		1,007
Total portfolio loans and leases	$	117,234	121,480

(a)Excludes government guaranteed residential mortgage loans.

Investment in Lease Financing

The following table presents the components of the net investment in portfolio leases as of December 31:


($ in millions)(a)	2023		2022
Net investment in direct financing leases:
Lease payment receivable (present value)	$	556	570
Unguaranteed residual assets (present value)	105		107

Net investment in sales-type leases:
Lease payment receivable (present value)	1,585		1,704
Unguaranteed residual assets (present value)	84		76

(a)Excludes $249 and $247 of leveraged leases at December 31, 2023 and 2022, respectively.

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table presents undiscounted cash flows for both direct financing and sales-type leases for 2024 through 2028 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:


As of December 31, 2023 ($ in millions)	Direct Financing Leases		Sales-Type Leases
2024	$	175	493
2025	147		460
2026	114		290
2027	83		221
2028	38		144
Thereafter	51		115
Total undiscounted cash flows	$	608	1,723
Less: Difference between undiscounted cash flows and discounted cash flows	52		138
Present value of lease payments (recognized as lease receivables)	$	556	1,585