Capital Actions

9 Months Ended

Sep. 30, 2017

Capital Actions

Capital Actions

16. Capital Actions

Accelerated Share Repurchase Transactions

During the nine months ended September 30, 2017, the Bancorp entered into or settled accelerated share repurchase transactions. As part of these transactions, the Bancorp entered into forward contracts in which the final number of shares delivered at settlementwas based generally on a discount to the average daily volume weighted-average price of the Bancorp’s common stock during the term of these repurchase agreements. The accelerated share repurchaseswere treated as two separate transactions, (i) the acquisition of treasury shares on the repurchase date and (ii) a forward contract indexed to the Bancorp's common stock.

The following table presents a summary of the Bancorp's accelerated share repurchase transactions that were entered into or settled during the nine months ended September 30, 2017:
Repurchase Date		Amount ($ in millions)	Shares Repurchased on Repurchase Date	Shares Received from Forward Contract Settlement	Total Shares Repurchased	Settlement Date
December 20, 2016	$	155	4,843,750	1,044,362	5,888,112	February 6, 2017
May 1, 2017		342	11,641,971	2,248,250	13,890,221	July 31, 2017
August 17, 2017		990	31,540,480	(a)	(a)	(a)

The settlement of the transaction is expected to occur on or before December 18, 2017.