Summary of Significant Accounting and Reporting Policies (Tables)

12 Months Ended

Dec. 31, 2018


The following tables provides a summary of the impact of the change in accounting principle for qualifying LIHTC investments on the Bancorp’s Consolidated Financial Statements as of and for the years ended December 31:

$ in millions, except per share data				2018
			Pre-LIHTC Adjustment	Adjustments	As Adjusted
Consolidated Balance Sheet caption
	Other assets	$	7,463	(91)	7,372
	Accrued taxes, interest and expenses		1,508	54	1,562
	Retained earnings		16,723	(145)	16,578

Consolidated Statement of Income caption
	Total noninterest expense	$	4,103	(175)	3,928
	Income before income taxes		2,590	175	2,765
	Applicable income tax expense		417	155	572
	Net income	$	2,173	20	2,193
	Earnings per share - basic	$	3.10	0.01	3.11
	Earnings per share - diluted	$	3.05	0.01	3.06


$ in millions, except per share data				2017
			As Originally Reported	Adjustments	As Adjusted
Consolidated Balance Sheet caption
	Other assets	$	6,975	(112)	6,863
	Accrued taxes, interest and expenses		1,412	53	1,465
	Retained earnings		15,122	(165)	14,957

Consolidated Statement of Income caption
	Total noninterest expense	$	3,990	(208)	3,782
	Income before income taxes		2,771	208	2,979
	Applicable income tax expense		577	222	799
	Net income	$	2,194	(14)	2,180
	Earnings per share - basic	$	2.88	(0.02)	2.86
	Earnings per share - diluted	$	2.83	(0.02)	2.81


$ in millions, except per share data				2016
			As Originally Reported	Adjustments	As Adjusted
Consolidated Balance Sheet caption
	Other assets	$	7,844	(97)	7,747
	Accrued taxes, interest and expenses		1,800	54	1,854
	Retained earnings		13,441	(151)	13,290

Consolidated Statement of Income caption
	Total noninterest expense	$	3,903	(143)	3,760
	Income before income taxes		2,065	143	2,208
	Applicable income tax expense		505	160	665
	Net income	$	1,560	(17)	1,543
	Earnings per share - basic	$	1.95	(0.03)	1.92
	Earnings per share - diluted	$	1.93	(0.02)	1.91