Parent Company Financial Statements

12 Months Ended

Dec. 31, 2013

Parent Company Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

29. Parent Company financial statements

Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions)			2013	2012	2011
Income
Dividends from subsidiaries:
	Consolidated bank subsidiaries(a)	$	-	-	-
	Consolidated nonbank subsidiary		859	1,959	1,677
Interest on loans to subsidiaries			14	17	29
Total income			873	1,976	1,706
Expenses
Interest			178	215	216
Other			36	61	25
Total expenses			214	276	241
Income Before Income Taxes and Change in Undistributed
	Earnings of Subsidiaries		659	1,700	1,465
Applicable income tax benefit			74	96	79
Income Before Change in Undistributed Earnings of Subsidiaries			733	1,796	1,544
Change in undistributed earnings			1,103	(220)	(247)
Net Income		$	1,836	1,576	1,297

• The Bancorp's indirect banking subsidiary paid dividends to the Bancorp's direct nonbank subsidiary holding company of $859 million, $2.0billion and $2.0billion for the years ended 2013, 2012, and 2011, respectively.

Condensed Statements of Comprehensive Income (Parent Company Only)
For the years ended December 31 ($ in millions)			2013	2012	2011
Net income		$	1,836	1,576	1,297
Other comprehensive income, net of tax:
	Unrealized gains on cash flow hedge derivatives		-	3	2
Other comprehensive income			-	3	2
Comprehensive income attributable to Parent		$	1,836	1,579	1,299

Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)			2013	2012
Assets
Cash		$	-	-
Short-term investments			2,505	3,481
Loans to subsidiaries:
	Bank subsidiaries		-	-
	Nonbank subsidiaries		974	1,021
Total loans to subsidiaries			974	1,021
Investment in subsidiaries
	Nonbank subsidiaries		16,254	15,376
Total investment in subsidiaries			16,254	15,376
Goodwill			80	80
Other assets			323	579
Total Assets		$	20,136	20,537
Liabilities
Other short-term borrowings			311	566
Accrued expenses and other liabilities			442	456
Long-term debt (external)			4,757	5,751
Total Liabilities			5,510	6,773
Parent Company Shareholders' Equity			14,626	13,764
Total Liabilities and Parent Company Shareholders' Equity		$	20,136	20,537

Condensed Statements of Cash Flows (Parent Company Only)
For the years ended December 31 ($ in millions)			2013	2012	2011
Operating Activities
Net income		$	1,836	1,576	1,297
Adjustments to reconcile net income to net cash provided by operating activities:
	(Benefit from) provision for deferred income taxes		(1)	2	(3)
	Net change in undistributed earnings		(1,103)	220	247
Net change in:
	Other assets		13	57	39
	Accrued expenses and other liabilities		(28)	18	3
Net Cash Provided by Operating Activities			717	1,873	1,583
Investing Activities
Net change in:
	Short-term investments		976	107	(635)
	Loans to subsidiaries		47	11	489
Net Cash Provided by (Used in) Investing Activities			1,023	118	(146)
Financing Activities
Net change in other short-term borrowings			(255)	(89)	241
Proceeds from issuance of long-term debt			750	500	1,000
Repayment of long-term debt			(1,500)	(1,440)	(400)
Dividends paid on common shares			(393)	(309)	(192)
Dividends paid on preferred shares			(37)	(35)	(50)
Issuance of common shares			0	0	1,648
Issuance of preferred stock			1,034	0	0
Repurchases of treasury shares and related forward contracts			(1,320)	(650)	0
Redemption of Series F preferred shares and related warrants			0	0	(3,688)
Other, net			(19)	(18)	(6)
Net Cash Used in Financing Activities			(1,740)	(2,041)	(1,447)
Net (Decrease) Increase in Cash			0	(50)	(10)
Cash at Beginning of Year			0	50	60
Cash at End of Year		$	0	0	50