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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest Income      
Interest and fees on loans and leases $ 4,078 $ 3,478 $ 3,233
Interest on securities 1,080 996 952
Interest on other short-term investments 25 15 8
Total interest income 5,183 4,489 4,193
Interest Expense      
Interest on deposits 538 277 205
Interest on federal funds purchased 30 6 2
Interest on other short-term borrowings 29 30 10
Interest on long-term debt 446 378 361
Total interest expense 1,043 691 578
Net Interest Income 4,140 3,798 3,615
Provision for loan and lease losses 237 261 [1] 343 [1]
Net Interest Income After Provision for Loan and Lease Losses 3,903 3,537 3,272
Noninterest Income:      
Service charges on deposits 549 554 558
Wealth and asset management revenue 444 419 404
Corporate banking revenue 438 353 432
Card and processing revenue 329 313 319
Mortgage banking net revenue 212 224 285
Other noninterest income 887 [2] 1,357 [3] 688 [4]
Securities gains (losses), net (54) 2 10
Securities gains (losses), net - non-qualifying hedges on mortgage servcing rights (15) 2 0
Total noninterest income 2,790 3,224 2,696
Noninterest Expense      
Salaries, wages and incentives 1,783 1,633 1,612
Employee benefits 332 356 339
Net occupancy expense 292 295 299
Technology and communications 285 245 234
Card and processing expense 123 129 132
Equipment expense 123 117 118
Other noninterest expense [1] 990 1,007 1,026
Total noninterest expense 3,928 3,782 3,760
Income (Loss) Before Income Taxes 2,765 2,979 2,208
Applicable income tax expense 572 799 665
Net Income 2,193 2,180 [1] 1,543 [1]
Less: Net income attributable to noncontrolling interests 0 0 (4)
Net Income attributable to Bancorp 2,193 2,180 1,547
Dividends on preferred stock 75 75 75
Net income (loss) available to common shareholders $ 2,118 $ 2,105 $ 1,472
Earnings per share - basic [1] $ 3.11 $ 2.86 $ 1.92
Earnings per share - diluted [1] $ 3.06 $ 2.81 $ 1.91
Average common shares outstanding - basic 673,346,168 728,289,200 757,432,291
Average common shares outstanding - diluted 685,488,498 740,691,433 764,495,353
[1]

Effective in the fourth quarter of 2018, Fifth Third retrospectively applied a change in its accounting policy for investments in affordable housing projects that qualify for LIHTC in accordance with ASU 2014-01. Refer to Note 1 for additional information.

[2]

Includes impairment charges of $ 45 for branches and land. For more information refer to Note 7 and Note 26 .

[3]

Includes impairment charges of $ 7 for branches and land. For more information refer to Note 7 and Note 26 .

[4]

Includes impairment charges of $ 32 for branches and land. For more information refer to Note 7 .