Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 169

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 169
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Income before income taxes(43)(91)(149)(270)Applicable income tax expense10 21 36 62 Net income(33)(70)(113)(208)Net periodic benefit costs:(a)Amortization of net actuarial lossCompensation and benefits(b)(1)(1)(1)(1)SettlementsCompensation and benefits(b)(1)— (1)— Income before income taxes(2)(1)(2)(1)Applicable income tax expense— — — — Net income(2)(1)(2)(1)Other:(a)Net losses included in net incomeOther noninterest expense— (2)— (2)Income before income taxes— (2)— (2)Applicable income tax expense— — — — Net income— (2)— (2)Total reclassifications for the periodNet income$(60)(108)(187)(300)(a)Amounts in parentheses indicate reductions to net income.(b)This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 22 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024 for further information.

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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 quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the instrument’s fair value measurement. For more information regarding the fair value hierarchy, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024.Assets and Liabilities Measured at Fair Value on a