XML 58 R38.htm IDEA: XBRL DOCUMENT

Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2018

Consolidation of Variable Interest Entities Disclosure

The following tables provide a summary of the classifications of consolidated VIE assets, liabilities and noncontrolling interests included in the Condensed Consolidated Balance Sheets as of:

			Automobile Loan	CDC
March 31, 2018 ($ in millions)			Securitizations	Investments	Total
Assets:
	Other short-term investments	$	66	-	66
	Commercial mortgage loans		-	20	20
	Automobile loans		1,115	-	1,115
	ALLL		(6)	-	(6)
	Other assets		6	-	6
Total assets		$	1,181	20	1,201
Liabilities:
	Other liabilities	$	2	-	2
	Long-term debt		1,031	-	1,031
Total liabilities		$	1,033	-	1,033
Noncontrolling interests		$	-	20	20


			Automobile Loan	CDC
December 31, 2017 ($ in millions)			Securitizations	Investments	Total
Assets:
	Other short-term investments	$	62	-	62
	Commercial mortgage loans		-	20	20
	Automobile loans		1,277	-	1,277
	ALLL		(6)	-	(6)
	Other assets		7	-	7
Total assets		$	1,340	20	1,360
Liabilities
	Other liabilities	$	2	-	2
	Long-term debt		1,190	-	1,190
Total liabilities		$	1,192	-	1,192
Noncontrolling interests		$	-	20	20

Assets and Liabilities Related to Non-consolidated VIEs and Maximum Exposure to Losses

Non-consolidated VIEs
The following tables provide a summary of assets and liabilities carried on the Condensed Consolidated Balance Sheets related to non-consolidated VIEs for which the Bancorp holds an interest, but is not the primary beneficiary of the VIE, as well as the Bancorp’s maximum exposure to losses associated with its interests in the entities as of:

		Total	Total	Maximum
March 31, 2018 ($ in millions)		Assets	Liabilities	Exposure
CDC investments	$	1,316	338	1,316
Private equity investments		95	-	140
Loans provided to VIEs		1,937	-	3,043


		Total	Total	Maximum
December 31, 2017 ($ in millions)		Assets	Liabilities	Exposure
CDC investments	$	1,376	355	1,376
Private equity investments		102	-	150
Loans provided to VIEs		1,845	-	2,910

Investments in Qualified Affordable Housing Tax Credits

The Bancorp has accounted for all of its investments in qualified affordable housing tax credits using the equity method of accounting. The following table summarizes the impact to the Condensed Consolidated Statements of Income relating to investments in qualified affordable housing investments:

	Condensed Consolidated		For the three months ended March 31,
($ in millions)	Statements of Income Caption		2018	2017
Pre-tax investment and impairment losses^(a)	Other noninterest expense	$	45	36
Tax credits and other benefits	Applicable income tax expense		(52)	(56)

(a) The Bancorp did not recognize impairment losses resulting from the forfeiture or ineligibility of tax credits or other circumstances during both the three months ended March 31, 2018 and 2017.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details