Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 91

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 91
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116 110 Total lease costs$144 140 134 The Bancorp performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. In addition to the lease costs disclosed in the table above, the Bancorp recognized $1 million, $2 million and $2 million of impairment losses and termination charges for the ROU assets related to certain operating leases for the years ended December 31, 2024, 2023 and 2022, respectively. The recognized losses were recorded in net occupancy expense in the Consolidated Statements of Income.The following table presents undiscounted cash flows for both operating leases and finance leases for 2025 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:As of December 31, 2024 ($ in millions)OperatingLeasesFinanceLeasesTotal2025$92 22 114 202686 22 108 202778 21 99 202870 21 91 202960 11 71 Thereafter397 104 501 Total undiscounted cash flows$783 201 984 Less: Difference between undiscounted cash flows and discounted cash flows177 40 217 Present value of lease liabilities$606 161 767 

146 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of December 31:20242023Weighted-average remaining lease term (years):Operating leases11.5711.07Finance leases12.6615.21Weighted-average discount rate:Operating leases4.08 %3.72 Finance leases3.80 3.02 The following table presents information related to lease transactions for the years ended December 31:($ in millions)202420232022Cash paid for amounts included in the measurement of lease liabilities:(a)Operating cash flows from operating leases$95 91 90 Operating cash flows from finance leases6 5 5 Financing cash flows from finance leases18 16 23 Gains on sale-leaseback transactions— 2 4 (a)The cash flows related to short-term and variable lease payments are not included in the amounts presented as they were not included in the measurement of lease liabilities.

10. Goodwill

Business combinations entered into by the Bancorp