Fifth Third Bank 2010 Annual Report Download - page 112

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
110 Fifth Third Bancorp
The Bancorp’s qualified defined benefit plan’s benefits were
frozen in 1998, except for grandfathered employees. The
Bancorp’s other retirement plans consist of nonqualified,
supplemental retirement plans, which are funded on an as needed
basis. A majority of these plans were obtained in acquisitions from
prior years.
The Bancorp’s profit sharing plan expense was $31 million
for 2010, $17 million for 2009 and $18 million for 2008. Expenses
recognized during the years ended December 31, 2010, 2009 and
2008 for matching contributions to the Bancorp’s defined
contribution savings plans were $36 million, $36 million and $37
million, respectively.
23. ACCUMULATED OTHER COMPREHENSIVE INCOME
The activity of the components of other comprehensive income and accumulated other comprehensive income was as follows for the years
ended December 31:
Total Other
Comprehensive Income
Total Accumulated Other
Comprehensive Income
($ in millions)
Pretax
Activity
Tax
Effect
Net
Activity
Beginning
Balance
Net
Activity
Ending
Balance
2010
Unrealized holding gains on available-for-sale securities arising during
period $216 (73) 143
Reclassification adjustment for net gains included in net income (57) 19 (38)
Net unrealized gains on available-for-sale securities 159 (54) 105 216 105 321
Unrealized holding gains on cash flow hedge derivatives arising during
period 2(1) 1
Reclassification adjustment for net gains on cash flow hedge
derivatives included in net income (60) 21 (39)
Net unrealized gains on cash flow hedge derivatives (58) 20 (38) 105 (38) 67
Defined benefit plans:
Net prior service cost 1(1) -
Net actuarial loss 10 (4) 6
Defined benefit plans, net 11 (5) 6 (80) 6 (74)
Total $112 (39) 73 241 73 314
2009
Unrealized holding gains on available-for-sale securities arising during
period $248 (86) 162
Reclassification adjustment for net gains included in net income (57) 20 (37)
Reclassification adjustment related to prior OTTI charges (37) 13 (24)
Net unrealized gains on available-for-sale securities 154 (53) 101 115 101 216
Unrealized holding gains on cash flow hedge derivatives arising during
period 75 (26) 49
Reclassification adjustment for net gains on cash flow hedge
derivatives included in net income (49) 17 (32)
Net unrealized gains on cash flow hedge derivatives 26 (9) 17 88 17 105
Defined benefit plans:
Net prior service cost - - -
Net actuarial loss 39 (14) 25
Defined benefit plans, net 39 (14) 25 (105) 25 (80)
Total $219 (76) 143 98 143 241
2008
Unrealized holding gains on available-for-sale securities arising during
period $353 (123) 230
Reclassification adjustment for net gains included in net income (31) 10 (21)
Net unrealized gains (losses) on available-for-sale securities 322 (113) 209 (94) 209 115
Unrealized holding gains on cash flow hedge derivatives arising during
period 100 (35) 65
Reclassification adjustment for net gains on cash flow hedge
derivatives included in net income (3) 1 (2)
Net unrealized gains on cash flow hedge derivatives 97 (34) 63 25 63 88
Defined benefit plans:
Net prior service cost - - -
Net actuarial gain (74) 26 (48)
Defined benefit plans, net (74) 26 (48) (57) (48) (105)
Total $345 (121) 224 (126) 224 98