Income Taxes

6 Months Ended

Jun. 30, 2012

Income Taxes

16. Income Taxes

The Bancorp's provision for income taxes was $180 million and $169 million for the three months ended June 30, 2012 and 2011, respectively. The provision for income taxes was $352 million and $281 million for the six months ended June 30, 2012 and 2011, respectively. The effective tax rates for the three months ended June 30, 2012 and 2011 were 31.8% and 33.3%, respectively. The effective tax rates for the six months ended June 30, 2012 and 2011 were 30.2% and 31.8%, respectively. The decrease in the effective tax rate for the three and six months ended June 30, 2012 from the three and six months ended June 30, 2011 was primarily due to a decrease in the amount of non-cash charges relating to previously recognized tax benefits associated with stock-based awards that will not be realized.