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CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Interest and fees on loans and leases $ 899 $ 816 [1] $ 2,595 $ 2,429
Interest on securities 249 239 [1] 739 707
Interest on other short-term investments 4 2 [1] 10 6
Total interest income 1,152 1,057 [1] 3,344 3,142
Interest Expense        
Interest on deposits 73 51 [1] 197 151
Interest on federal funds purchased 2 0 [1] 4 2
Interest on other short-term borrowings 12 2 [1] 24 8
Interest on long-term debt 95 97 [1] 277 269
Total interest expense 182 150 [1] 502 430
Net Interest Income 970 907 2,842 2,712 [2]
Provision for loan and lease losses 67 80 193 289 [2],[3]
Net Interest Income After Provision for Loan and Lease Losses 903 827 2,649 2,423 [2]
Noninterest Income        
Service charges on deposits 138 143 [1] 415 417
Wealth and asset management revenue 102 101 [1] 313 304
Corporate banking revenue 101 111 [1] 276 330
Card and processing revenue 79 79 [1] 232 240
Mortgage banking net revenue 63 66 [1] 170 219
Other noninterest income 1,076 336 [1] 1,237 552
Securities gains, net 0 4 [1] 1 13
Securities gains, net - non-qualifying hedges on mortgage servcing rights 2 0 4 0
Total noninterest income 1,561 840 2,648 2,075 [2]
Noninterest Expense        
Salaries, wages and incentives 407 400 [1] 1,215 1,209
Employee benefits 77 78 [1] 274 263
Net occupancy expense 74 73 [1] 221 226
Technology and communications 62 62 [1] 177 178
Card and processing expense 32 30 [1] 95 101
Equipment expense 30 29 [1] 88 89
Other noninterest expense 293 301 [1] 848 876
Total noninterest expense 975 973 2,918 2,942 [2]
Income (Loss) Before Income Taxes 1,489 694 2,379 1,556 [2]
Applicable income tax expense 475 178 694 390 [2]
Net Income (loss) 1,014 516 1,685 1,166 [2],[3],[4]
Less: Net income attributable to noncontrolling interests 0 0 0 (4) [2]
Net income attributable to Bancorp 1,014 516 1,685 1,170 [2]
Dividends on preferred stock 15 15 52 52 [2]
Net income (loss) available to common shareholders $ 999 $ 501 [5] $ 1,633 $ 1,118 [2],[6]
Earnings per share - basic $ 1.37 $ 0.66 [5] $ 2.19 $ 1.45 [6]
Earnings per share - diluted $ 1.35 $ 0.65 [5] $ 2.16 $ 1.44 [6]
Average common shares outstanding- basic 721,280,389 750,885,834 [5] 736,686,213 761,147,543 [6]
Average common shares oustanding - diluted 733,284,502 757,855,877 [5] 748,706,522 766,775,598 [6]
Common stock dividends declared per share $ 0.16 $ 0.13 [1] $ 0.44 $ 0.39
[1]

Net tax deficiencies of $6 were reclassified from capital surplus to applicable income tax expense for the nine months ended September 30, 2016, and average common shares out standing – diluted were adjusted for both the three and nine months ended September 30, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

[2]

Net tax deficiencies of $ 6 were reclassified from capital surplus to applicable income tax expense for the nine months ended September 30, 2016 , related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016

[3]

Net tax deficiencies of $ 6 were reclassified from capital surplus to applicable income tax expense for the nine months ended September 30, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

[4]

Net tax deficiencies of $6 million were reclassified from capital surplus to applicable income tax expense for the nine months ended September 30, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an e ffective date of January 1, 2016.

[5]

A verage common shares outstanding - diluted were adjuste d for the three months ended September 30, 2016 related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016

[6]

Net tax deficiencies of $6 were reclassified from capital surplus to applicable income tax expense and average common shares outstanding - d iluted were adjusted for the nine months ended September 30, 2016 related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016 .