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Variable Interest Entities (Tables)
6 Months Ended
Jun. 30, 2019
Variable Interest Entities  
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 for automobile loan securitizations as of:

 

 

 

 

 

 

 

($ in millions)

June 30, 2019

 

December 31, 2018

 

Assets:

 

 

 

 

 

 

Other short-term investments

$

80

 

40

 

 

Indirect secured consumer loans

 

1,755

 

668

 

 

ALLL

 

(10)

 

(4)

 

 

Other assets

 

11

 

5

 

Total assets

$

1,836

 

709

 

Liabilities:

 

 

 

 

 

 

Other liabilities

$

3

 

1

 

 

Long-term debt

 

1,646

 

606

 

Total liabilities

$

1,649

 

607

 

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

June 30, 2019 ($ in millions)

 

Assets

Liabilities

Exposure

CDC investments

$

1,304

 

440

 

1,304

 

Private equity investments

 

87

 

-

 

166

 

Loans provided to VIEs

 

2,417

 

-

 

3,747

 

Lease pool entities

 

67

 

-

 

67

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

Total

Maximum

December 31, 2018 ($ in millions)

 

Assets

Liabilities

Exposure

CDC investments

$

1,198

 

376

 

1,198

 

Private equity investments

 

41

 

-

 

73

 

Loans provided to VIEs

 

2,331

 

-

 

3,617

 

Investments in Qualified Affordable Housing Tax Credits

The Bancorp has accounted for all of its investments in qualifying LIHTC using the proportional amortization 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 June 30,

 

For the six months ended June 30,

 

($ in millions)

 

Statements of Income Caption(a)

 

 

2019

2018

 

2019

2018

 

Proportional amortization

 

Applicable income tax expense

 

$

37

41

 

74

83

 

Tax credits and other benefits

 

Applicable income tax expense

 

 

(44)

(49)

 

(87)

(101)

 

The Bancorp did not recognize impairment losses resulting from the forfeiture or ineligibility of tax credits or other circumstances during both the three and six months ended June 30, 2019 and 2018.