Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 115

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 115
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2024 ($ in millions)Term ExtensionInterest Rate ReductionPayment DelayTerm Extension and Interest Rate ReductionTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotalCommercial loans:Commercial and industrial loans$8 — — 1 — — 9 Commercial mortgage owner-occupied loans— — — — — — — Residential mortgage loans— — 1 — 8 — 9 Consumer loans:Home equity— — — — 1 — 1 Credit card— 4 — — — — 4 Total portfolio loans$8 4 1 1 9 — 23 

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

7.  Variable Interest Entities

The Bancorp, in the normal course of business, engages in a variety of activities that involve VIEs, which are legal entities that lack sufficient equity at risk to finance their activities without additional subordinated financial support or the equity investors of the entities as a group lack any of the characteristics of a controlling interest. The Bancorp evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Bancorp is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. If the Bancorp is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Bancorp is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under the equity method of accounting or other accounting standards as appropriate.Consolidated VIEsThe Bancorp has consolidated VIEs related to an automobile loan securitization and a solar loan securitization where it has determined that it is the primary beneficiary. The following table provides a summary of assets and liabilities recorded on the Condensed Consolidated Balance Sheets for these consolidated VIEs as of:($ in millions)March 31,2025December 31,2024Assets:Other short-term investments$47 51 Indirect secured consumer loans843 967 Solar energy installation loans31 33 ALLL(16)(19)Other assets6 5 Total assets$911 1,037