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Income Taxes
6 Months Ended
Jun. 30, 2013
Income Taxes  
Income Taxes

17. Income Taxes

The Bancorp's provision for income taxes was $250 million and $180 million for the three months ended June 30, 2013 and 2012, respectively. The provision for income taxes was $429 million and $352 million for the six months ended June 30, 2013 and 2012, respectively. The effective tax rates for the three months ended June 30, 2013 and 2012 were 29.7% and 31.8%, respectively. The effective tax rates for the six months ended June 30, 2013 and 2012 were 30.0% and 30.2%, respectively. The decrease in the effective tax rate for the three months ended June 30, 2013 from the three months ended June 30, 2012 was primarily due to a non-cash charge recognized during the second quarter of 2012 related to previously recognized tax benefits associated with stock-based awards that were not realized. The Bancorp recognized a similar non-cash charge during the first quarter of 2013.

The Bancorp's unrecognized tax benefits decreased from $17 million at March 31, 2013 to $6 million at June 30, 2013 as a result of settling certain outstanding tax disputes during the second quarter of 2013. While it is reasonably possible that the amount of the unrecognized tax benefits with respect to certain of the Bancorp's uncertain tax positions could increase or decrease during the next 12 months, the Bancorp believes it is unlikely that its unrecognized tax benefits will change by a material amount during the next 12 months.