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Income Taxes
9 Months Ended
Sep. 30, 2012
Income Taxes

17. Income Taxes

The Bancorp's provision for income taxes was $139 million and $149 million for the three months ended September 30, 2012 and 2011, respectively. The provision for income taxes was $491 million and $429 million for the nine months ended September 30, 2012 and 2011, respectively. The effective tax rates for the three months ended September 30, 2012 and 2011 were 27.7% and 27.9%, respectively. The effective tax rates for the nine months ended September 30, 2012 and 2011 were 29.4% and 30.3%, respectively. The decrease in the effective tax rate for the nine months ended September 30, 2012 compared to the same period in the prior year 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.