Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 220

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 220
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 U.S. GAAP and the rules and regulations of the SEC for interim financial information, these statements do not include certain information and footnote disclosures required for complete annual financial statements and it is suggested that these Condensed Consolidated Financial Statements be read in conjunction with the Bancorp’s Annual Report on Form 10-K. The results of operations, comprehensive income, cash flows and changes in equity for the three months ended March 31, 2025 and 2024 are not necessarily indicative of the results to be expected for the full year. Financial information as of December 31, 2024 has been derived from the Bancorp’s Annual Report on Form 10-K.The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

2.  Supplemental Cash Flow Information

Cash payments related to interest and income taxes in addition to non-cash investing and financing activities are presented in the following table for the three months ended March 31:($ in millions)20252024Cash Payments:Interest$1,107 1,294 Income taxes(3)10 Transfers:Portfolio loans and leases to loans and leases held for sale$38 110 Loans and leases held for sale to portfolio loans and leases2 1 Portfolio loans and leases to OREO5 1 Bank premises and equipment to OREO4 4 Available-for-sale debt securities to held-to-maturity securities(a)— 11,593 Supplemental Disclosures:Net additions to lease liabilities under operating leases$54 13 Net additions to lease liabilities under finance leases— 46 (a)Represents the fair value of the securities on the date of transfer. Refer to Note 4 for additional information.

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Table of ContentsFifth Third Bancorp and SubsidiariesNotes to Condensed Consolidated Financial Statements (unaudited)

3.  Accounting and Reporting Developments

Standard Adopted in 2025The Bancorp adopted the following new accounting standard during the three months ended March 31, 2025:ASU 2023-09 – Income Taxes (Topic 740): Improvements to Income Tax DisclosuresIn December 2023, the FASB issued ASU 2023-09, which amends the disclosure requirements for income taxes. The amendments primarily include new requirements to disclose additional information as part of the reconciliation of the effective