Fifth Third Bank 2012 Annual Report Download - page 158
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
156 Fifth Third Bancorp
28. PARENT COMPANY FINANCIAL STATEMENTS
Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions) 2012 2011 2010
Income
Dividends from subsidiaries:
Consolidated bank subsidiaries(a) $- - -
Consolidated nonbank subsidiary 1,959 1,677 1,400
Interest on loans to subsidiaries 17 29 33
Total income 1,976 1,706 1,433
Expenses
Interest 215 216 188
Other 61 25 26
Total expenses 276 241 214
Income Before Income Taxes and Change in Undistributed
Earnings of Subsidiaries 1,700 1,465 1,219
A
pplicable income tax benefit 96 79 64
Income Before Change in Undistributed Earnings of Subsidiaries 1,796 1,544 1,283
Decrease in undistributed earnings (220) (247) (530)
Net Income $1,576 1,297 753
(a) The Bancorp’s indirect banking subsidiary paid dividends, to the Bancorp’s direct nonbank subsidiary holding company of
$2.0 billion
, $2.0 billion, and $1.4 billion for the years ended
2012
,
2011, and 2010, respectively.
Condensed Statements of Comprehensive Income (Parent Company Only)
For the years ended December 31 ($ in millions) 2012 2011 2010
Net income $1,576 1,297 753
Other comprehensive income (loss), net of tax:
Unrealized gains on cash flow hedge derivatives 3 2 (4)
Other comprehensive income (loss) 3 2 (4)
Comprehensive income 1,579 1,299 749
Less: Comprehensive income attributable to noncontrolling interests (2) 1 -
Comprehensive income attributable to Bancorp $1,581 1,298 749