Capital Actions

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Capital Actions

Capital Actions

Accelerated Share Repurchase Transaction

During the six months ended June 30, 2024, the Bancorp entered into and settled an accelerated share repurchase transaction. As part of the transaction, the Bancorp entered into a forward contract in which the final number of shares delivered at settlement was based on a discount to the average daily volume weighted-average price of the Bancorp’s common stock during the term of the repurchase agreement. The accelerated share repurchase was treated as two separate transactions, (i) the repurchase of treasury shares on the repurchase date and (ii) a forward contract indexed to the Bancorp’s common stock.

The following table presents a summary of the Bancorp’s accelerated share repurchase transaction that was entered into and settled during the six months ended June 30, 2024:

Repurchase Date	Amount ($ in millions)		Shares Repurchased on Repurchase Date	Shares Received from Forward Contract Settlement	Total Shares Repurchased	Final Settlement Date
June 12, 2024	$	125	3,011,621	496,767	3,508,388	June 27, 2024

For further information on a subsequent event related to capital actions, refer to Note 24.