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Income Taxes
9 Months Ended
Sep. 30, 2013
Income Taxes  
Income Taxes

18. Income Taxes

The Bancorp's provision for income taxes was $183 million and $139 million for the three months ended September 30, 2013 and 2012, respectively. The provision for income taxes was $613 million and $491 million for the nine months ended September 30, 2013 and 2012, respectively. The effective tax rates for the three months ended September 30, 2013 and 2012 were 30.3% and 27.7%, respectively. The effective tax rates for the nine months ended September 30, 2013 and 2012 were 30.1% and 29.4%, respectively. The increase in the effective tax rate for the three months ended September 30, 2013 from the three months ended September 30, 2012 was primarily due to an increase in projected annual pre-tax income and anticipated increases in non-deductible expenses and decreases in non-taxable income from the prior period.

The Bancorp's unrecognized tax benefits as of September 30, 2013 were $6 million. 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.