Income Taxes

9 Months Ended

Sep. 30, 2015

Income Taxes

Income Taxes

19. Income Taxes

The Bancorp's provision for income taxes was $134 million and $124 million for the three months ended September 30, 2015 and 2014, respectively, and was $367 million and $411 million for the ninemonths ended September 30, 2015 and 2014, respectively. The effective tax rates for the three months ended September 30, 2015 and 2014 were 26.0% and 26.7%, respectively, and were 25.9%and 27.2%for the ninemonths ended September 30, 2015 and 2014, respectively. The decrease in the effective tax rate for the three and ninemonths ended September 30, 2015 compared to the same periods in the prior year included the benefit from an increase in the amount of 2015 forecasted income tax credits.

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.