Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2019

Parent Company Financial Statements

Condensed Statements of Income (Parent Company Only)

Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions)		2019		2018		2017
Income
Dividends from subsidiaries:
Consolidated nonbank subsidiaries(a)	$	2,155		1,890		2,343
Securities gains, net		2		-		-
Interest on loans to subsidiaries		24		24		21
Total income		2,181		1,914		2,364
Expenses
Interest		267		211		176
Other		65		34		42
Total expenses		332		245		218
Income Before Income Taxes and Change in Undistributed Earnings of Subsidiaries		1,849		1,669		2,146
Applicable income tax benefit		(69	)	(50	)	(68)
Income Before Change in Undistributed Earnings of Subsidiaries		1,918		1,719		2,214
Equity in undistributed earnings		594		474		(34)
Net Income Attributable to Bancorp	$	2,512		2,193		2,180
Other Comprehensive Income		-		-		-
Comprehensive Income Attributable to Bancorp	$	2,512		2,193		2,180

  a) The Bancorp’s indirect banking subsidiary paid dividends to the Bancorp’s direct nonbank subsidiary holding company of $2.0 billion, $1.9 billion and $2.3 billion for the years ended December 31, 2019, 2018 and 2017, respectively. Additionally, a $200 million dividend was paid by MB Financial, Inc. to the Bancorp during the year ended December 31, 2019.

Condensed Balance Sheets (Parent Company Only)

Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)		2019	2018
Assets
Cash	$	118	120
Short-term investments		4,723	3,642
Equity securities		49	-
Loans to subsidiaries:
Nonbank subsidiaries		444	571
Total loans to subsidiaries		444	571
Investment in subsidiaries:
Nonbank subsidiaries		23,779	17,921
Total investment in subsidiaries		23,779	17,921
Goodwill		80	80
Other assets		379	268
Total Assets	$	29,572	22,602
Liabilities
Other short-term borrowings	$	359	253
Accrued expenses and other liabilities		497	424
Long-term debt (external)		7,513	5,675
Total Liabilities	$	8,369	6,352
Equity
Common stock	$	2,051	2,051
Preferred stock		1,770	1,331
Capital surplus		3,599	2,873
Retained earnings		18,315	16,578
Accumulated other comprehensive income (loss)		1,192	(112)
Treasury stock		(5,724)	(6,471)
Noncontrolling interests		-	-
Total Equity		21,203	16,250
Total Liabilities and Equity	$	29,572	22,602

Condensed Statements of Cash Flows (Parent Company Only)

Condensed Statements of Cash Flows (Parent Company Only)
For the years ended December 31 ($ in millions)	2019		2018		2017
Operating Activities
Net income	$	2,512		2,193		2,180
Adjustments to reconcile net income to net cash provided by operating activities:
(Benefit from) provision for deferred income taxes		(11)		3		2
Securities gains, net		(2)		-		-
Equity in undistributed earnings		(594)		(474)		34
Net change in:
Equity securities		(49)		-		-
Other assets		(80)		61		37
Accrued expenses and other liabilities		134		(116)		(15)
Net Cash Provided by Operating Activities		1,910		1,667		2,238
Investing Activities
Net change in:
Short-term investments		(1,081)		(149)		(419)
Loans to subsidiaries		127		272		126
Net cash paid on acquisition		(469)		-		-
Net Cash (Used in) Provided by Investing Activities		(1,423)		123		(293)
Financing Activities
Net change in other short-term borrowings		106		(62)		(29)
Dividends paid on common stock		(660)		(467)		(430)
Dividends paid on preferred stock		(93)		(98)		(75)
Proceeds from issuance of long-term debt		2,235		895		697
Repayment of long-term debt		(500)		(500)		(500)
Issuance of preferred stock		242		-		-
Repurchase of treasury stock and related forward contract		(1,763)		(1,453)		(1,605)
Other, net		(56)		(65)		(53)
Net Cash Used in Financing Activities		(489)		(1,750)		(1,995)
(Decrease) Increase in Cash		(2)		40		(50)
Cash at Beginning of Period		120		80		130
Cash at End of Period	$	118		120		80