Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 279

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 279
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 cash flow hedge derivatives arising during period(413)97 (316)Reclassification adjustment for net losses on cash flow hedge derivatives included in net income89 (20)69 Net unrealized losses on cash flow hedge derivatives(324)77 (247)(372)(247)(619)Defined benefit pension plans, net— — — (17)— (17)Other— — — (4)— (4)Total$(525)124 (401)(4,487)(401)(4,888)

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

The table below presents reclassifications out of AOCI:Condensed Consolidated Statements of Income CaptionFor the three months endedMarch 31,($ in millions)20252024Net unrealized losses on available-for-sale debt securities:(a)Net losses included in net incomeSecurities (losses) gains, net$— (3)Income before income taxes— (3)Applicable income tax expense— — Net income— (3)Net unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities:(a)Net losses included in net incomeInterest on securities(32)(32)Income before income taxes(32)(32)Applicable income tax expense7 7 Net income(25)(25)Net unrealized losses on cash flow hedge derivatives:(a)Interest rate contracts related to C&I, commercial mortgage and commercial construction loansInterest and fees on loans and leases(56)(89)Income before income taxes(56)(89)Applicable income tax expense14 20 Net income(42)(69)Total reclassifications for the periodNet income$(67)(97)(a)Amounts in parentheses indicate reductions to net income.

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

18.  Fair Value Measurements

The Bancorp measures certain financial assets and liabilities at fair value in accordance with U.S. GAAP, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to