Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 292

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 292
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 months endedJune 30,For the six months endedJune 30,($ in millions)2025202420252024Long-term debt:Change in fair value of interest rate swaps hedging long-term debtInterest on long-term debt$37 (23)105 (114)Change in fair value of hedged long-term debt attributable to the risk being hedgedInterest on long-term debt(37)23 (105)114 

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

The following amounts were recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of:($ in millions)Condensed ConsolidatedBalance Sheets CaptionJune 30,2025December 31,2024Long-term debt:Carrying amount of the hedged itemsLong-term debt$4,945 4,838 Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged itemsLong-term debt2 (103)Available-for-sale debt and other securities:Cumulative amount of fair value hedging adjustments remaining for hedged items for which hedge accounting has been discontinuedAvailable-for-sale debt and other securities(8)(9)Cash Flow HedgesThe Bancorp may enter into interest rate swaps to convert floating-rate assets and liabilities to fixed rates or to hedge certain forecasted transactions for the variability in cash flows attributable to the contractually specified interest rate. As of June 30, 2025, the maximum length of time over which the Bancorp is hedging its exposure to the variability in future cash flows is 79 months.Reclassified gains and losses on interest rate contracts related to commercial loans are recorded within interest income in the Condensed Consolidated Statements of Income. As of June 30, 2025 and December 31, 2024, respectively, $271 million and $654 million of net deferred losses, net of tax, on cash flow hedges were recorded in AOCI in the Condensed Consolidated Balance Sheets. As of June 30, 2025, $108 million in net unrealized losses, net of tax, recorded in AOCI are expected to be reclassified into earnings during the next 12 months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge designations or the addition of other hedges subsequent to June 30, 2025.During both the three and six months ended June 30