Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2014

Parent Company Financial Statements

Condensed Statements of Income (Parent Company Only)

Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions)			2014	2013	2012
Income
Dividends from subsidiaries:
	Consolidated bank subsidiaries(a)	$	-	-	-
	Consolidated nonbank subsidiary		1,094	859	1,959
Interest on loans to subsidiaries			14	14	17
Total income			1,108	873	1,976
Expenses
Interest			163	178	215
Other			17	36	61
Total expenses			180	214	276
Income Before Income Taxes and Change in Undistributed
	Earnings of Subsidiaries		928	659	1,700
Applicable income tax benefit			62	74	96
Income Before Change in Undistributed Earnings of Subsidiaries			990	733	1,796
Change in undistributed earnings			491	1,103	(220)
Net Income		$	1,481	1,836	1,576

• The Bancorp's indirect banking subsidiary paid dividends to the Bancorp's direct nonbank subsidiary holding company of $1.1 billion, $859 million and $2.0billion for the years ended December 31,2014, 2013and 2012, respectively.

Condensed Statement of Comprehensive Income (Parent Company Only)

Condensed Statements of Comprehensive Income (Parent Company Only)
For the years ended December 31 ($ in millions)			2014	2013	2012
Net income		$	1,481	1,836	1,576
Other comprehensive income, net of tax:
	Unrealized gains on cash flow hedge derivatives		-	-	3
Other comprehensive income			-	-	3
Comprehensive income attributable to Parent		$	1,481	1,836	1,579

Condensed Balance Sheets (Parent Company Only)

Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)			2014	2013
Assets
Cash		$	-	-
Short-term investments			3,189	2,505
Loans to subsidiaries:
	Bank subsidiaries		-	-
	Nonbank subsidiaries		984	974
Total loans to subsidiaries			984	974
Investment in subsidiaries
	Nonbank subsidiaries		17,186	16,254
Total investment in subsidiaries			17,186	16,254
Goodwill			80	80
Other assets			451	323
Total Assets		$	21,890	20,136
Liabilities
Other short-term borrowings			426	311
Accrued expenses and other liabilities			405	442
Long-term debt (external)			5,394	4,757
Total Liabilities			6,225	5,510
Shareholders' Equity
Common stock			2,051	2,051
Preferred stock			1,331	1,034
Capital surplus			2,646	2,561
Retained earnings			11,141	10,156
Accumulated other comprehensive income			429	82
Treasury stock			(1,972)	(1,295)
Noncontrolling interests			39	37
Total Equity			15,665	14,626
Total Liabilities and Equity		$	21,890	20,136

Condensed Statements of Cash Flows (Parent Company Only)

Condensed Statements of Cash Flows (Parent Company Only)
For the years ended December 31 ($ in millions)			2014	2013	2012
Operating Activities
Net income		$	1,481	1,836	1,576
Adjustments to reconcile net income to net cash provided by operating activities:
	(Benefit from) provision for deferred income taxes		(1)	(1)	2
	Net change in undistributed earnings		(491)	(1,103)	220
Net change in:
	Other assets		8	13	57
	Accrued expenses and other liabilities		(40)	(28)	18
Net Cash Provided by Operating Activities			957	717	1,873
Investing Activities
Net change in:
	Short-term investments		(684)	976	107
	Loans to subsidiaries		(10)	47	11
Net Cash (Used in) Provided by Investing Activities			(694)	1,023	118
Financing Activities
Net change in other short-term borrowings			115	(255)	(89)
Proceeds from issuance of long-term debt			499	750	500
Repayment of long-term debt			0	(1,500)	(1,440)
Dividends paid on common shares			(423)	(393)	(309)
Dividends paid on preferred shares			(67)	(37)	(35)
Issuance of preferred stock			297	1,034	0
Repurchases of treasury shares and related forward contracts			(654)	(1,320)	(650)
Other, net			(30)	(19)	(18)
Net Cash Used in Financing Activities			(263)	(1,740)	(2,041)
Net Decrease in Cash			0	0	(50)
Cash at Beginning of Year			0	0	50
Cash at End of Year		$	0	0	0