XML 41 R46.htm IDEA: XBRL DOCUMENT v3.19.3
Variable Interest Entities (Tables)
9 Months Ended
Sep. 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)

September 30, 2019

 

December 31, 2018

 

Assets:

 

 

 

 

 

 

Other short-term investments

$

76

 

40

 

 

Indirect secured consumer loans

 

1,543

 

668

 

 

ALLL

 

(9)

 

(4)

 

 

Other assets

 

11

 

5

 

Total assets

$

1,621

 

709

 

Liabilities:

 

 

 

 

 

 

Other liabilities

$

3

 

1

 

 

Long-term debt

 

1,438

 

606

 

Total liabilities

$

1,441

 

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

September 30, 2019 ($ in millions)

 

Assets

Liabilities

Exposure

CDC investments

$

1,424

 

440

 

1,424

 

Private equity investments

 

84

 

-

 

161

 

Loans provided to VIEs

 

2,628

 

-

 

3,979

 

Lease pool entities

 

66

 

-

 

66

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 qualifying LIHTC investments using the proportional amortization method of accounting. The following table summarizes the impact to the Condensed Consolidated Statements of Income related to these investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

($ in millions)

 

Statements of Income Caption(a)

 

 

2019

2018

 

2019

2018

 

Proportional amortization

 

Applicable income tax expense

 

$

31

35

 

105

118

 

Tax credits and other benefits

 

Applicable income tax expense

 

 

(35)

(44)

 

(122)

(146)

 

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