Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Long-Term Debt

Summary of the Bancorp's Long-Term Borrowings

The following table is a summary of the Bancorp’s long-term borrowings at December 31:

($ in millions)	Maturity		Interest Rate		2019		2018
Parent Company
Senior:
Fixed-rate notes		2019		2.30  %	$	-		500
Fixed-rate notes		2020		2.875 %		1,099		1,098
Floating-rate notes(b)		2021		2.37  %		250		250
Fixed-rate notes		2022		2.60  %		699		698
Fixed-rate notes		2022		3.50  %		499		498
Fixed-rate notes		2024		3.65  %		1,493		-
Fixed-rate notes		2025		2.375 %		746		-
Fixed-rate notes		2028		3.95  %		646		646
Subordinated:(a)
Fixed-rate notes		2024		4.30  %		748		747
Fixed-rate notes		2038		8.25  %		1,333		1,238
Subsidiaries
Senior:
Fixed-rate notes		2019		2.375 %		-		850
Fixed-rate notes		2019		2.30  %		-		750
Fixed-rate notes		2019		1.625 %		-		743
Floating-rate notes(c)		2019		3.412 %		-		250
Fixed-rate notes		2020		2.20  %		752		742
Floating-rate notes(b)		2020		2.186 %		300		300
Fixed-rate notes		2021		2.25  %		1,249		1,248
Fixed-rate notes		2021		2.875 %		848		847
Fixed-rate notes		2021		3.35  %		508		502
Floating-rate notes(b)		2021		2.376 %		299		299
Floating-rate notes(b)		2022		2.549 %		299		-
Fixed-rate notes		2025		3.95  %		797		764
Subordinated:(a)
Fixed-rate bank notes		2026		3.85  %		748		747
Fixed-rate bank notes		2027		4.00  %		171		-
Junior subordinated:
Floating-rate debentures(b)		2035		3.31 %  -  3.58 %		53		52
FHLB advances		2020 - 2047		0.05 %  -  6.87 %		91		22
Notes associated with consolidated VIEs:
Automobile loan securitizations:
Fixed-rate notes		2022 - 2026		1.80 %  -  2.69 %		1,147		568
Floating-rate notes(b)		2022		1.91  %		42		11
Other		2020 - 2040		Varies		153		56
Total					$	14,970		14,426

(a) In aggregate, $2.7 billion and $2.6 billion qualifies as Tier II capital for regulatory capital purposes for the years ended December 31, 2019 and 2018, respectively.

(b) These rates reflect the floating rates as of December 31, 2019.

(c) These rates reflect the floating rates as of December 31, 2018.

Schedule Of Long Term Debt Maturities

The Bancorp pays down long-term debt in accordance with contractual terms over maturity periods summarized in the above table. The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2019 are presented in the following table:

($ in millions)	Parent		Subsidiaries		Total
2020	$	1,099		1,073		2,172
2021		250		2,923		3,173
2022		1,198		900		2,098
2023		-		514		514
2024		2,241		98		2,339
Thereafter		2,725		1,949		4,674
Total	$	7,513		7,457		14,970