Income Taxes	3 Months Ended
Mar. 31, 2017
Income Taxes
Income Taxes	16. Income Taxes The applicable income tax expense was $91 million and $109 million for the three months ended March 31, 2017 and 2016, respectively. The effective tax rates for the three months ended March 31, 2017 and 2016 were 22.9% and 25.1%, respectively. A net tax deficiency of $1 million was reclassified from capital surplus to applicable income tax expense at March 31, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. The decrease in the effective tax rate for the three months ended March 31, 2017 compared to the same period in the prior year was primarily related to a reduction in income tax expense for the recognition of excess tax benefits related to stock-based compensation recorded in the first quarter of 2017. 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.

Income Taxes

3 Months Ended

Mar. 31, 2017

16. Income Taxes

The applicable income tax expense was $91 million and $109 million for the three months ended March 31, 2017 and 2016, respectively. The effective tax rates for the three months ended March 31, 2017 and 2016 were 22.9% and 25.1%, respectively. A net tax deficiency of $1 million was reclassified from capital surplus to applicable income tax expense at March 31, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. The decrease in the effective tax rate for the three months ended March 31, 2017 compared to the same period in the prior year was primarily related to a reduction in income tax expense for the recognition of excess tax benefits related to stock-based compensation recorded in the first quarter of 2017.

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.