Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2015

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)			2015	2014	2013
Income
Dividends from subsidiaries:
	Consolidated nonbank subsidiaries(a)	$	1,040	1,094	859
Interest on loans to subsidiaries			15	14	14
Total income			1,055	1,108	873
Expenses
Interest			178	163	178
Other			22	17	36
Total expenses			200	180	214
Income Before Income Taxes and Change in Undistributed Earnings of Subsidiaries			855	928	659
Applicable income tax benefit			69	62	74
Income Before Change in Undistributed Earnings of Subsidiaries			924	990	733
Change in undistributed earnings			788	491	1,103
Net Income		$	1,712	1,481	1,836
Other Comprehensive Income			0	0	0
Comprehensive Income Attributable to Bancorp		$	1,712	1,481	1,836

• The Bancorp's indirect banking subsidiary paid dividends to the Bancorp's direct nonbank subsidiary holding company of $1.0 billion, $1.1billion and $859million for the years ended December 31,2015, 2014and 2013, respectively.

Condensed Balance Sheets (Parent Company Only)

Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)			2015	2014
Assets
Cash		$	128	-
Short-term investments			3,728	3,189
Loans to subsidiaries:
	Nonbank subsidiaries		982	984
Total loans to subsidiaries			982	984
Investment in subsidiaries
	Nonbank subsidiaries		17,831	17,186
Total investment in subsidiaries			17,831	17,186
Goodwill			80	80
Other assets			432	451
Total Assets		$	23,181	21,890
Liabilities
Other short-term borrowings		$	404	426
Accrued expenses and other liabilities			433	405
Long-term debt (external)			6,474	5,394
Total Liabilities		$	7,311	6,225
Shareholders' Equity
Common stock		$	2,051	2,051
Preferred stock			1,331	1,331
Capital surplus			2,666	2,646
Retained earnings			12,358	11,141
Accumulated other comprehensive income			197	429
Treasury stock			(2,764)	(1,972)
Noncontrolling interests			31	39
Total Equity			15,870	15,665
Total Liabilities and Equity		$	23,181	21,890

Condensed Statements of Cash Flows (Parent Company Only)

Condensed Statements of Cash Flows (Parent Company Only)
For the years ended December 31 ($ in millions)			2015	2014	2013
Operating Activities
Net income		$	1,712	1,481	1,836
Adjustments to reconcile net income to net cash provided by operating activities:
	Benefit from deferred income taxes		(4)	(1)	(1)
	Net change in undistributed earnings		(788)	(491)	(1,103)
Net change in:
	Other assets		(19)	8	13
	Accrued expenses and other liabilities		32	(40)	(28)
Net Cash Provided by Operating Activities			933	957	717
Investing Activities
Net change in:
	Short-term investments		(539)	(684)	976
	Loans to subsidiaries		2	(10)	47
Net Cash (Used in) Provided by Investing Activities			(537)	(694)	1,023
Financing Activities
Net change in other short-term borrowings			(22)	115	(255)
Proceeds from issuance of long-term debt			1,099	499	750
Repayment of long-term debt			0	0	(1,500)
Dividends paid on common shares			(422)	(423)	(393)
Dividends paid on preferred shares			(75)	(67)	(37)
Issuance of preferred shares			0	297	1,034
Repurchase of treasury shares and related forward contract			(850)	(654)	(1,320)
Other, net			2	(30)	(19)
Net Cash Used in Financing Activities			(268)	(263)	(1,740)
Increase in Cash			128	0	0
Cash at Beginning of Period			0	0	0
Cash at End of Period		$	128	0	0