Income Taxes	6 Months Ended
Jun. 30, 2017
Income Taxes
Income Taxes	18. Income Taxes The applicable income tax expense was $127 million and $103 million for the three months ended June 30, 2017 and 2016, respectively, and was $218 million and $212 million for the six months ended June 30, 2017 and 2016, respectively. The effective tax rates for the three months ended June 30, 2017 and 2016 were 25.9% and 23.9%, respectively, and were 24.5% for both the six months ended June 30, 2017 and 2016. Net tax deficiencies of $5 million and $6 million were reclassified from capital surplus to applicable income tax expense for the three and six months ended June 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. The increase in the effective tax rate for the three months ended June 30, 2017 compared to the same period in the prior year was primarily the result of a tax benefit that was recorded in the second quarter of 2016 related to a change in the estimated deductibility of a prior expense. 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

6 Months Ended

Jun. 30, 2017

18. Income Taxes

The applicable income tax expense was $127 million and $103 million for the three months ended June 30, 2017 and 2016, respectively, and was $218 million and $212 million for the six months ended June 30, 2017 and 2016, respectively. The effective tax rates for the three months ended June 30, 2017 and 2016 were 25.9% and 23.9%, respectively, and were 24.5% for both the six months ended June 30, 2017 and 2016. Net tax deficiencies of $5 million and $6 million were reclassified from capital surplus to applicable income tax expense for the three and six months ended June 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016. The increase in the effective tax rate for the three months ended June 30, 2017 compared to the same period in the prior year was primarily the result of a tax benefit that was recorded in the second quarter of 2016 related to a change in the estimated deductibility of a prior expense.

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.