FIFTH THIRD BANCORP

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 27, 2024

FITB$54.19-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

For the years ended December 31 ($ in millions)	2023	2022	2021
Operating Activities
Net income	$2,349	2,446	2,770
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (benefit from) credit losses	515	563	(377)
Depreciation, amortization and accretion	462	436	349
Stock-based compensation expense	169	165	120
Benefit from deferred income taxes	(106)	(60)	(14)
Securities (gains) losses, net	(31)	84	16
MSR fair value adjustment	105	(177)	139
Net gains on sales of loans and fair value adjustments on loans held for sale	(27)	(126)	(335)
Net (gains) losses on disposition and impairment of bank premises and equipment and operating lease equipment	(7)	(1)	10
Gain on sale of HSA deposit portfolio	—	—	(60)
Gain on the TRA associated with Worldpay, Inc.	(22)	(46)	(46)
Proceeds from sales of loans held for sale	4,938	13,123	17,204
Loans originated or purchased for sale, net of repayments	(4,242)	(10,239)	(16,888)
Dividends representing return on equity method investments	46	50	55
Net change in:
Equity and trading debt securities	(128)	70	15
Other assets	326	646	(37)
Accrued taxes, interest and expenses and other liabilities	162	(506)	(217)
Net Cash Provided by Operating Activities	4,509	6,428	2,704
Investing Activities
Proceeds from sales:
AFS securities and other investments	2,813	4,359	3,125
Loans and leases	444	155	718
Bank premises and equipment	7	2	19
Proceeds from repayments / maturities of AFS and HTM securities and other investments	4,235	4,495	6,079
Purchases:
AFS securities, equity method investments and other investments	(6,244)	(29,714)	(11,713)
Bank premises and equipment	(491)	(348)	(309)
MSRs	(25)	(213)	(381)
Proceeds from settlement of BOLI	14	49	24
Proceeds from sales and dividends representing return of equity method investments	69	87	63
Net cash received for divestitures	—	66	—
Net cash paid on acquisitions	—	(917)	(297)
Net cash paid on sale of HSA deposit portfolio	—	—	(431)
Net change in:
Other short-term investments	(13,731)	26,224	(1,172)
Portfolio loans and leases	3,358	(8,992)	(3,721)
Operating lease equipment	63	(124)	28
Net Cash Used in Investing Activities	(9,488)	(4,871)	(7,968)
Financing Activities
Net change in deposits	5,222	(5,994)	10,734
Net change in other short-term borrowings and federal funds purchased	(1,881)	3,757	(193)
Dividends paid on common and preferred stock	(1,060)	(927)	(897)
Proceeds from long-term debt issuances/advances	4,286	4,026	562
Repayment of long-term debt	(1,657)	(1,762)	(3,603)
Repurchases of treasury stock and related forward contract	(200)	(100)	(1,393)
Other	(55)	(85)	(99)
Net Cash Provided by (Used in) Financing Activities	4,655	(1,085)	5,111
(Decrease) Increase in Cash and Due from Banks	(324)	472	(153)
Cash and Due from Banks at Beginning of Period	3,466	2,994	3,147
Cash and Due from Banks at End of Period	$3,142	3,466	2,994

Refer to the Notes to Consolidated Financial Statements. Note 2 contains cash payments related to interest and income taxes in addition to non-cash investing and financing activities.

117 Fifth Third Bancorp

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.