Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 371

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 371
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 31 ($ in millions)202420232022IncomeDividends from consolidated nonbank subsidiaries(a)$1,800 1,819 165 Securities gains (losses), net3 4 (9)Interest 85 63 11 Total income1,888 1,886 167 ExpensesInterest553 525 311 Other27 39 19 Total expenses580 564 330 Income (Loss) Before Income Taxes and Equity in Undistributed Earnings of Subsidiaries1,308 1,322 (163)Applicable income tax benefit(115)(112)(76)Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries1,423 1,434 (87)Equity in undistributed earnings891 915 2,533 Net Income$2,314 2,349 2,446 Other Comprehensive Income— — — Comprehensive Income$2,314 2,349 2,446 (a)Includes dividends paid by the Bancorp’s indirect banking subsidiary to the Bancorp’s direct nonbank subsidiary holding company of $1.8 billion for both the years ended December 31, 2024 and 2023. The Bancorp’s indirect banking subsidiary did not pay dividends during the year ended December 31, 2022.         Condensed Balance Sheets (Parent Company Only)As of December 31 ($ in millions)20242023AssetsCash$969 120 Other short-term investments3,106 6,500 Available-for-sale debt and other securities2,500 1,000 Equity securities29 34 Loans to nonbank subsidiaries5 — Investment in nonbank subsidiaries22,891 21,998 Goodwill80 80 Other assets156 179 Total Assets$29,736 29,911 LiabilitiesOther short-term borrowings$3 — Accrued expenses and other liabilities567 631 Long-term debt (external)9,521 10,108 Total Liabilities$10,091 10,739 EquityCommon stock$2,051 2,051 Preferred stock2,116 2,116 Capital surplus3,804 3,757 Retained earnings24,150 22,997 Accumulated other comprehensive loss(4,636)(4,487)Treasury stock(7,840)(7