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Income Taxes
3 Months Ended
Mar. 31, 2014
Income Taxes  
Income Taxes

16. Income Taxes

The Bancorp's provision for income taxes was $119 million and $179 million for the three months ended March 31, 2014 and 2013, respectively. The effective tax rates for the three months ended March 31, 2014 and 2013 were 27.3% and 30.4%, respectively. The decrease in the effective tax rate for the three months ended March 31, 2014 compared to the same period in the prior year was primarily due to a non-cash charge recorded in 2013 related to previously recognized tax benefits associated with stock-based awards that were not realized.

 

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.