FIFTH THIRD BANCORP
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
FITB$54.19-0.3%Stored close · as of Nov 10, 2026
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Accumulated Other Comprehensive Income
- Accumulated Other Comprehensive Income
The tables below present the activity of the components of OCI and AOCI for the years ended December 31:
| Total OCI · Total AOCI | ||||||
|---|---|---|---|---|---|---|
| 2023 ($ in millions) | Pre-taxActivity | TaxEffect | NetActivity | BeginningBalance | NetActivity | EndingBalance |
| Unrealized holding gains on available-for-sale debt securities arising during the year | $656 | (162) | 494 | |||
| Reclassification adjustment for net losses on available-for-sale debt securities included in net income | 1 | — | 1 | |||
| Net unrealized losses on available-for-sale debt securities | 657 | (162) | 495 | (4,589) | 495 | (4,094) |
| Unrealized holding losses on cash flow hedge derivatives arising during the year | (171) | 40 | (131) | |||
| Reclassification adjustment for net losses on cash flow hedge derivatives included in net income | 334 | (77) | 257 | |||
| Net unrealized losses on cash flow hedge derivatives | 163 | (37) | 126 | (498) | 126 | (372) |
| Net actuarial loss arising during the year | (1) | — | (1) | |||
| Reclassification of amounts to net periodic benefit costs | 4 | (1) | 3 | |||
| Defined benefit pension plans, net | 3 | (1) | 2 | (19) | 2 | (17) |
| Other | — | — | — | (4) | — | (4) |
| Total | $823 | (200) | 623 | (5,110) | 623 | (4,487) |
| Total OCI · Total AOCI | ||||||
|---|---|---|---|---|---|---|
| 2022 ($ in millions) | Pre-taxActivity | TaxEffect | NetActivity | BeginningBalance | NetActivity | EndingBalance |
| Unrealized holding losses on available-for-sale debt securities arising during the year | $(7,194) | 1,716 | (5,478) | |||
| Reclassification adjustment for net gains on available-for-sale debt securities included in net income | (2) | — | (2) | |||
| Net unrealized losses on available-for-sale debt securities | (7,196) | 1,716 | (5,480) | 891 | (5,480) | (4,589) |
| Unrealized holding losses on cash flow hedge derivatives arising during the year | (1,006) | 232 | (774) | |||
| Reclassification adjustment for net gains on cash flow hedge derivatives included in net income | (99) | 22 | (77) | |||
| Net unrealized losses on cash flow hedge derivatives | (1,105) | 254 | (851) | 353 | (851) | (498) |
| Net actuarial gain arising during the year | 11 | (2) | 9 | |||
| Reclassification of amounts to net periodic benefit costs | 6 | (1) | 5 | |||
| Defined benefit pension plans, net | 17 | (3) | 14 | (33) | 14 | (19) |
| Other | — | — | — | (4) | — | (4) |
| Total | $(8,284) | 1,967 | (6,317) | 1,207 | (6,317) | (5,110) |
186 Fifth Third Bancorp
| Total OCI · Total AOCI | ||||||
|---|---|---|---|---|---|---|
| 2021 ($ in millions) | Pre-taxActivity | TaxEffect | NetActivity | BeginningBalance | NetActivity | EndingBalance |
| Unrealized holding losses on available-for-sale debt securities arising during the year | $(1,366) | 323 | (1,043) | |||
| Reclassification adjustment for net losses on available-for-sale debt securities included in net income | 4 | (1) | 3 | |||
| Net unrealized gains on available-for-sale debt securities | (1,362) | 322 | (1,040) | 1,931 | (1,040) | 891 |
| Unrealized holding losses on cash flow hedge derivatives arising during the year | (185) | 43 | (142) | |||
| Reclassification adjustment for net gains on cash flow hedge derivatives included in net income | (293) | 70 | (223) | |||
| Net unrealized gains on cash flow hedge derivatives | (478) | 113 | (365) | 718 | (365) | 353 |
| Net actuarial gain arising during the year | 5 | (1) | 4 | |||
| Reclassification of amounts to net periodic benefit costs | 9 | (2) | 7 | |||
| Defined benefit pension plans, net | 14 | (3) | 11 | (44) | 11 | (33) |
| Other | — | — | — | (4) | — | (4) |
| Total | $(1,826) | 432 | (1,394) | 2,601 | (1,394) | 1,207 |
The table below presents reclassifications out of AOCI for the years ended December 31:
| ($ in millions) | Consolidated Statements ofIncome Caption | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Net unrealized (losses) gains on available-for-sale debt securities:(a) | ||||
| Net (losses) gains included in net income | Securities gains (losses), net | $(1) | 2 | (4) |
| Income before income taxes | (1) | 2 | (4) | |
| Applicable income tax expense | — | — | 1 | |
| Net income | (1) | 2 | (3) | |
| Net unrealized (losses) gains on cash flow hedge derivatives:(a) | ||||
| Interest rate contracts related to C&I, commercial mortgage and commercial construction loans | Interest and fees on loans and leases | (334) | 99 | 293 |
| Income before income taxes | (334) | 99 | 293 | |
| Applicable income tax expense | 77 | (22) | (70) | |
| Net income | (257) | 77 | 223 | |
| Net periodic benefit costs:(a) | ||||
| Amortization of net actuarial loss | Compensation and benefits(b) | (2) | (3) | (6) |
| Settlements | Compensation and benefits(b) | (2) | (3) | (3) |
| Income before income taxes | (4) | (6) | (9) | |
| Applicable income tax expense | 1 | 1 | 2 | |
| Net income | (3) | (5) | (7) | |
| Total reclassifications for the period | Net income | $(261) | 74 | 213 |
(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 for information on the computation of net periodic benefit cost.
187 Fifth Third Bancorp
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.