Fifth Third Bank 2014 Annual Report Download - page 167

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
165 Fifth Third Bancorp
29. PARENT COMPANY FINANCIAL STATEMENTS
Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions) 2014 2013 2012
Income
Dividends from subsidiaries:
Consolidated bank subsidiaries(a) $ - - -
Consolidated nonbank subsidiary 1,094 859 1,959
Interest on loans to subsidiaries 14 14 17
Total income 1,108 873 1,976
Expenses
Interest 163 178 215
Other 17 36 61
Total expenses 180 214 276
Income Before Income Taxes and Change in Undistributed
Earnings of Subsidiaries 928 659 1,700
A
pplicable income tax benefit 62 74 96
Income Before Change in Undistributed Earnings of Subsidiaries 990 733 1,796
Change in undistributed earnings 491 1,103 (220)
Net Income $1,481 1,836 1,576
(a) The Bancorp’s indirect banking subsidiary paid dividends to the Bancorp’s direct nonbank subsidiary holding company of
$1.1 billion
, $859 million and $2.0 billion for the years ended
December 31,
2014
, 2013 and 2012, respectively.
Condensed Statements of Comprehensive Income (Parent Company Only)
For the years ended December 31 ($ in millions) 2014 2013 2012
Net income $1,481 1,836 1,576
Other comprehensive income, net of tax:
Unrealized gains on cash flow hedge derivatives - - 3
Other comprehensive income - - 3
Comprehensive income attributable to Parent $1,481 1,836 1,579