Fifth Third Bank 2013 Annual Report Download - page 168

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
166 Fifth Third Bancorp
29. PARENT COMPANY FINANCIAL STATEMENTS
Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions) 2013 2012 2011
Income
Dividends from subsidiaries:
Consolidated bank subsidiaries(a) $ - - -
Consolidated nonbank subsidiary 859 1,959 1,677
Interest on loans to subsidiaries 14 17 29
Total income 873 1,976 1,706
Expenses
Interest 178 215 216
Other 36 61 25
Total expenses 214 276 241
Income Before Income Taxes and Change in Undistributed
Earnings of Subsidiaries 659 1,700 1,465
A
pplicable income tax benefit 74 96 79
Income Before Change in Undistributed Earnings of Subsidiaries 733 1,796 1,544
Change in undistributed earnings 1,103 (220) (247)
Net Income $1,836 1,576 1,297
(a) The Bancorp’s indirect banking subsidiary paid dividends to the Bancorp’s direct nonbank subsidiary holding company of
$859 million
, $2.0 billion and $2.0 billion for the years ended
2013
,
2012, and 2011, respectively.
Condensed Statements of Comprehensive Income (Parent Company Only)
For the years ended December 31 ($ in millions) 2013 2012 2011
Net income $1,836 1,576 1,297
Other comprehensive income, net of tax:
Unrealized gains on cash flow hedge derivatives - 3 2
Other comprehensive income - 3 2
Comprehensive income attributable to Parent $1,836 1,579 1,299