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CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest Income        
Interest and fees on loans and leases $ 1,040 $ 899 $ 2,975 $ 2,595
Interest on securities 269 249 798 739
Interest on other short-term investments 6 4 17 10
Total interest income 1,315 1,152 3,790 3,344
Interest Expense        
Interest on deposits 144 73 359 197
Interest on federal funds purchased 10 2 17 4
Interest on other short-term borrowings 6 12 25 24
Interest on long-term debt 112 95 330 277
Total interest expense 272 182 731 502
Net Interest Income 1,043 970 3,059 2,842
Provision for loan and lease losses 86 67 142 193
Net Interest Income After Provision for Loan and Lease Losses 957 903 2,917 2,649
Noninterest Income        
Service charges on deposits 139 138 414 415
Wealth and asset management revenue 114 102 335 313
Corporate banking revenue 100 101 308 276
Card and processing revenue 82 79 245 232
Mortgage banking net revenue 49 63 158 170
Other noninterest income 86 1,076 [1] 794 1,237
Securities gains (losses), net (6) 0 (21) 1
Securities gains (losses), net - non-qualifying hedges on mortgage servcing rights (1) 2 (18) 4
Total noninterest income 563 1,561 2,215 2,648
Noninterest Expense        
Salaries, wages and incentives 421 407 1,339 1,215
Employee benefits 82 77 270 274
Net occupancy expense 70 74 219 221
Technology and communications 71 62 206 177
Equipment expense 31 30 92 88
Card and processing expense 31 32 91 95
Other noninterest expense 302 293 873 848
Total noninterest expense 1,008 975 3,090 2,918
Income (Loss) Before Income Taxes 512 1,489 2,042 2,379
Applicable income tax expense 79 475 321 694
Net Income (loss) 433 1,014 1,721 1,685
Less: Net income attributable to noncontrolling interests 0 0 0 0
Net income attributable to Bancorp 433 1,014 1,721 1,685
Dividends on preferred stock 15 15 52 52
Net income (loss) available to common shareholders $ 418 $ 999 $ 1,669 $ 1,633
Earnings per share - basic $ 0.62 $ 1.37 $ 2.43 $ 2.19
Earnings per share - diluted $ 0.61 $ 1.35 $ 2.38 $ 2.16
Average common shares outstanding- basic 667,624,132 721,280,389 680,181,785 736,686,213
Average common shares oustanding - diluted 679,198,715 733,284,502 693,078,647 748,706,522
[1]
  • Includes impairment charges of $ 1 for branches and land. For more information refer to Note 7 and Note 22 .