XML 84 R35.htm IDEA: XBRL DOCUMENT

Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2014

Consolidation of Variable Interest Entities Disclosure

The following table provides a summary of the classifications of consolidated VIE assets, liabilities and noncontrolling interests included in the Bancorp’s Condensed Consolidated Balance Sheets as of:

			Automobile Loan	CDC
March 31, 2014 ($ in millions)			Securitizations	Investments	Total
Assets:
	Cash and due from banks	$	102	-	102
	Other short-term investments		7	-	7
	Commercial mortgage loans		-	48	48
	Automobile loans^(a)		2,031	-	2,031
	ALLL		(5)	(13)	(18)
	Other assets		20	3	23
Total assets			2,155	38	2,193
Liabilities:
	Other liabilities	$	3	-	3
	Long-term debt		2,119	-	2,119
Total liabilities		$	2,122	-	2,122
Noncontrolling interests			-	38	38


			Automobile Loan	CDC
December 31, 2013 ($ in millions)			Securitization	Investments	Total
Assets:
	Cash and due from banks	$	49	-	49
	Commercial mortgage loans		-	48	48
	Automobile loans^(a)		1,010	-	1,010
	ALLL		(2)	(13)	(15)
	Other assets		11	2	13
Total assets		$	1,068	37	1,105
Liabilities
	Other liabilities	$	1	-	1
	Long-term debt		1,048	-	1,048
Total liabilities		$	1,049	-	1,049
Noncontrolling interests			-	37	37

Net of $98 and $52 of unamortized fees and discounts at March 31, 2014 and December 31, 2013, respectively.

Assets and Liabilities Related to Non-consolidated VIEs and Maximum Exposure to Losses

Non-consolidated VIEs
The following tables provide a summary of assets and liabilities carried on the Bancorp’s Condensed Consolidated Balance Sheets related to non-consolidated VIEs for which the Bancorp holds an interest, but is not the primary beneficiary of the VIE, as well as the Bancorp’s maximum exposure to losses associated with its interests in the entities:

		Total	Total	Maximum
As of March 31, 2014 ($ in millions)		Assets	Liabilities	Exposure
CDC investments	$	1,418	369	1,418
Private equity investments		209	-	304
Loans provided to VIEs		1,843	-	2,807
Automobile loan securitization		3	-	3


		Total	Total	Maximum
As of December 31, 2013 ($ in millions)		Assets	Liabilities	Exposure
CDC investments	$	1,436	407	1,436
Private equity investments		204	-	294
Loans provided to VIEs		1,830	-	2,792
Automobile loan securitization		4	-	4
Restructured loans		1	-	1

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References+ Details