Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

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			2023		2022
Parent Company
Senior:
Fixed-rate notes	2023			1.625%			$	—	500
Fixed-rate notes	2024			3.65%			1,500		1,498
Fixed-rate notes	2025			2.375%			749		748
Fixed-rate notes	2027			2.55%			748		747
Fixed-rate/floating-rate notes(c)	2027			1.707%			461		448
Fixed-rate notes	2028			3.95%			648		648
Fixed-rate/floating-rate notes(c)	2028			4.055%			386		381
Fixed-rate/floating-rate notes(c)	2028			6.361%			1,013		1,012
Fixed-rate/floating-rate notes(c)	2029			6.339%			1,245		—
Fixed-rate/floating-rate notes(c)	2030			4.772%			944		936
Fixed-rate/floating-rate notes(c)	2033			4.337%			561		556
Subordinated:(a)
Fixed-rate notes	2024			4.30%			750		749
Fixed-rate notes	2038			8.25%			1,103		1,108
Subsidiaries
Senior:
Fixed-rate notes	2023			1.80%			—		650
Fixed-rate notes	2025			3.95%			727		723
Fixed-rate/floating-rate notes(c)	2025			5.852%			996		999
Fixed-rate notes	2027			2.25%			599		599
Subordinated:(a)
Fixed-rate notes	2026			3.85%			749		749
Fixed-rate notes	2027			4.00%			—		173
Junior subordinated:
Floating-rate debentures(a)(b)	2035			7.07%	-	7.34%	54		53
FHLB advances(d)	2024	-	2047	5.62%			1,510		21
Notes associated with consolidated VIEs:
Automobile loan securitization, fixed-rate notes	2024	-	2031	5.52%	-	5.87%	1,305		75
Solar loan securitization, fixed-rate notes	2038			4.05%	‘-	7.00%	35		39
Other	2024	-	2052	Varies			297		302
Total							$	16,380	13,714

(a)In aggregate, $1.5 billion and $1.9 billion qualifies as Tier 2 capital for regulatory capital purposes for the years ended December 31, 2023 and 2022, respectively.

(b)These rates reflect the floating rates as of December 31, 2023.

(c)This rate reflects the fixed rate in effect as of December 31, 2023.

(d)This rate reflects the weighted-average rate as of December 31, 2023.

Schedule of Long-term Debt Maturities

The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2023 are presented in the following table:

($ in millions)	Parent Company		Subsidiaries	Total
2024	$	2,250	1,576	3,826
2025	749		1,757	2,506
2026	—		1,352	1,352
2027	1,209		614	1,823
2028	2,047		587	2,634
Thereafter	3,853		386	4,239
Total	$	10,108	6,272	16,380