FIFTH THIRD BANCORP
For the period ended Mar 31, 2024. Filed May 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
FITB$54.36+2.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows (unaudited)
| Fifth Third Bancorp and SubsidiariesCondensed Consolidated Financial Statements and Notes (continued) | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) | ||
| For the three months ended March 31, | ||
| ($ in millions) | 2024 | 2023 |
| Operating Activities | ||
| Net income | $520 | 558 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 94 | 164 |
| Depreciation, amortization and accretion | 128 | 117 |
| Stock-based compensation expense | 64 | 76 |
| Benefit from deferred income taxes | (35) | (42) |
| Securities gains, net | (12) | (5) |
| MSR fair value adjustment | (8) | 53 |
| Net gains on sales of loans and fair value adjustments on loans held for sale | (3) | (18) |
| Net gains on disposition and impairment of bank premises and equipment and operating lease equipment | — | (1) |
| Proceeds from sales of loans held for sale | 742 | 1,335 |
| Loans originated or purchased for sale, net of repayments | (714) | (1,071) |
| Dividends representing return on equity method investments | 9 | 16 |
| Net change in: | ||
| Equity and trading debt securities | (14) | (133) |
| Other assets | (265) | 514 |
| Accrued taxes, interest and expenses and other liabilities | (120) | (242) |
| Net Cash Provided by Operating Activities | 386 | 1,321 |
| Investing Activities | ||
| Proceeds from sales: | ||
| AFS securities and other investments | 64 | 2,054 |
| Loans and leases | 121 | — |
| Bank premises and equipment | 15 | 3 |
| Proceeds from repayments / maturities of AFS and HTM securities and other investments | 1,238 | 608 |
| Purchases: | ||
| AFS securities, equity method investments and other investments | (1,398) | (2,045) |
| Bank premises and equipment | (65) | (113) |
| MSRs | — | (16) |
| Proceeds from settlement of BOLI | 11 | 8 |
| Proceeds from sales and dividends representing return of equity method investments | 2 | 14 |
| Net cash received for divestitures | 6 | — |
| Net change in: | ||
| Other short-term investments | (758) | (1,443) |
| Portfolio loans and leases | 526 | (1,452) |
| Operating lease equipment | 9 | 19 |
| Net Cash Used in Investing Activities | (229) | (2,363) |
| Financing Activities | ||
| Net change in deposits | 675 | (715) |
| Net change in other short-term borrowings and federal funds purchased | 56 | 2,523 |
| Dividends paid on common and preferred stock | (287) | (294) |
| Proceeds from long-term debt issuances/advances | 1,495 | 6 |
| Repayment of long-term debt | (2,400) | (917) |
| Repurchases of treasury stock and related forward contract | — | (200) |
| Other | (42) | (47) |
| Net Cash (Used in) Provided by Financing Activities | (503) | 356 |
| Decrease in Cash and Due from Banks | (346) | (686) |
| Cash and Due from Banks at Beginning of Period | 3,142 | 3,466 |
| Cash and Due from Banks at End of Period | $2,796 | 2,780 |
Refer to the Notes to Condensed Consolidated Financial Statements. Note 2 contains cash payments related to interest and income taxes in addition to non-cash investing and financing activities.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.