Retirement and Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2011

Underfunded Pension Amounts Recognized in Other Liabilities in the Consolidated Balance Sheet

The overfunded and underfunded amounts recognized in other assets and other liabilities, respectively, in the Consolidated Balance Sheets were as follows as of December 31:

($ in millions)		2011	2010
Prepaid benefit cost	$	0	4
Accrued benefit liability		(72)	(34)
Net underfunded status	$	(72)	(30)

Defined Benefit Retirement Plans with an Overfunded Status

The following tables summarize the defined benefit retirement plans as of and for the years ended December 31:

Plans with an Overfunded Status(a)
($ in millions)		2011	2010
Fair value of plan assets at January 1	$	0	182
Actual return on assets		0	31
Contributions		0	0
Settlement		0	0
Benefits paid		0	(16)
Fair value of plan assets at December 31	$	0	197
Projected benefit obligation at January 1	$	0	183
Service cost		0	0
Interest cost		0	10
Settlement		0	0
Actuarial loss		0	16
Benefits paid		0	(16)
Projected benefit obligation at December 31	$	0	193
Overfunded projected benefit obligation recognized in the Consolidated Balance Sheets as an asset	$	0	4

(a) The Bancorp's defined benefit plan had an Overfunded Status at December 31, 2010. The plan was Underfunded at December 31, 2011 and is reflected in the Underfunded Status table

Defined Benefit Retirement Plans with an Underfunded Status

Plans with an Underfunded Status
($ in millions)		2011	2010
Fair value of plan assets at January 1	$	197	-
Actual return on assets		-	-
Contributions		4	4
Settlement		(10)	-
Benefits paid		(10)	(4)
Fair value of plan assets at December 31	$	181	-
Projected benefit obligation at January 1	$	227	34
Service cost		-	-
Interest cost		11	2
Settlement		(10)	-
Actuarial gain		35	2
Benefits paid		(10)	(4)
Projected benefit obligation at December 31	$	253	34
Unfunded projected benefit obligation recognized in the Consolidated Balance Sheet as a liability	$	(72)	(34)

Net Periodic Benefit Cost and Other Changes In Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

The following table summarizes net periodic benefit cost and other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31:

($ in millions)			2011	2010	2009
Components of net periodic benefit cost:
	Service cost	$	0	0	0
	Interest cost		11	12	12
	Expected return on assets		(15)	(14)	(12)
	Amortization of net actuarial loss		11	12	15
	Amortization of net prior service cost		1	1	1
	Settlement		6	0	13
Net periodic benefit cost		$	14	11	29
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
	Net actuarial loss (gain)		50	2	(10)
	Net prior service cost		0	0	0
	Amortization of net actuarial loss		(11)	(12)	(15)
	Amortization of prior service cost		(1)	(1)	(1)
	Settlement		(6)	0	(13)
Total recognized in other comprehensive income			32	(11)	(39)
Total recognized in net periodic benefit cost and
	other comprehensive income	$	46	0	(10)

Plan Assets Measured at Fair Value on a Recurring Basis

The following table summarizes plan assets measured at fair value on a recurring basis as of December 31:

		Fair Value Measurements Using (a)
2011 ($ in millions)			Level 1	Level 2	Level 3		Total Fair Value
Equity Securities:
	Equity securities (Growth)(b)	$	53	0	0	$	53
	Equity securities (Value)		52	0	0		52
Total equity securities			105	0	0		105
Mutual and exchange traded funds:
	Money market funds		5	0	0		5
	International funds		25	0	0		25
	Commodity funds		9	0	0		9
Total mutual and exchange traded funds			39	0	0		39
Debt securities:
	U.S. Treasury obligations		10	0	0		10
	Agency mortgage backed		0	25	0		25
	Non-agency mortgage backed		0	1	0		1
	Corporate bonds(d)		0	1	0		1
Total debt securities			10	27	0		37
Total plan assets		$	154	27	0	$	181
		Fair Value Measurements Using (a)
2010 ($ in millions)			Level 1	Level 2	Level 3		Total Fair Value
Equity Securities:
	Equity securities (Growth)(b)	$	58	0	0	$	58
	Equity securities (Value)		53	0	0		53
Total equity securities			111	0	0		111
Mutual and exchange traded funds:
	Money market funds		6	0	0		6
	International funds		30	0	0		30
	Commodity funds		11	0	0		11
Total mutual and exchange traded funds			47	0	0		47
Debt securities:
	U.S. Treasury obligations		7	0	0		7
	U.S. Government agencies (c)		0	1	0		1
	Agency mortgage backed		0	24	0		24
	Non-agency mortgage backed		0	6	0		6
	Corporate bonds(d)		0	1	0		1
Total debt securities			7	32	0		39
Total plan assets		$	165	32	0	$	197

a)For further information on fair value hierarchy levels, see Note 27.

b)Includes holdings in Bancorp common stock.

c) Includes debt securities issued by U.S. Government sponsored agencies.

d)Includes private label asset backed securities.

Plan Assumptions

The following table summarizes the plan assumptions for the years ended December 31

Weighted Average Assumptions		2011		2010	2009
For measuring benefit obligations at year end:
	Discount rate	4.27	%	5.39	5.88
	Rate of compensation increase	5.00		5.00	5.00
	Expected return on plan assets	8.25		8.25	8.50
For measuring net periodic benefit cost:
	Discount rate	5.39		5.88	6.11
	Rate of compensation increase	5.00		5.00	5.00
	Expected return on plan assets	8.25		8.25	8.50

Targeted and Actual Weighted Average Asset Allocations by Plan Asset Category

The following table provides the Bancorp's targeted and actual weighted-average asset allocations by asset category for the years ended December 31:

Weighted-average asset allocation	Targeted range		2011		2010
Equity securities			74	%	72
Bancorp common stock			2		2
Total equity securities(a)	70-80	%	76		74
Total fixed income securities	20-25		21		23
Cash	0-5		3		3
Total			100	%	100

• Includes mutual and exchange traded funds.

Schedule of Accumulated and Projected Benefit Obligations [Table Text Block]

Amounts relating to the Bancorp's defined benefit plans with assets exceeding benefit obligations were as follows at December 31:

($ in millions)		2011	2010
Projected benefit obligation	$	0	193
Accumulated benefit obligation		0	193
Fair value of plan assets		0	197

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

Amounts relating to the Bancorp's defined benefit plans with benefit obligations exceeding assets were as follows at December 31:

($ in millions)		2011	2010
Projected benefit obligation	$	253	34
Accumulated benefit obligation		253	34
Fair value of plan assets		181	0