Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 113

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 113
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 for derivative contracts with legal rights of setoff for both periods shown.

160 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table provides a summary of offsetting derivative financial instruments:Gross Amount Recognized in the Consolidated Balance Sheets(a)Gross Amounts Not Offset in theConsolidated Balance SheetsDerivativesCollateral(b)Net AmountAs of December 31, 2024Derivative assets$2,470 (1,378)(573)519 Derivative liabilities2,798 (1,378)(193)1,227 As of December 31, 2023Derivative assets$2,672 (1,031)(877)764 Derivative liabilities2,999 (1,031)(159)1,809 (a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements.(b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Consolidated Balance Sheets were excluded from this table.

15. Other Assets

The following table provides the components of other assets included in the Consolidated Balance Sheets as of December 31:($ in millions)20242023Partnership investments$2,520 2,326 Derivative instruments2,472 2,677 Accounts receivable and drafts-in-process2,381 2,007 Bank owned life insurance2,135 2,103 Deferred tax assets1,429 1,438 Accrued interest and fees receivable796 797 Operating lease right-of-use assets526 511 Income tax receivable174 187 Prepaid expenses142 143 OREO and other repossessed property32 39 Worldpay, Inc. TRA receivable— 35 Other250 275 Total other assets$12,857 12,538 In conjunction with Worldpay, Inc.’s IPO in 2012, the Bancorp entered into two TRAs with Worldpay, Inc. The TRAs provide for payments by Worldpay, Inc. to the Bancorp of 85% of the cash savings actually realized as a result of the increase in tax basis that results from the historical or future purchase of equity in Worldpay Holding, LLC from the Bancorp or from the exchange of