Other Assets

12 Months Ended

Dec. 31, 2024

The following table provides the components of other assets included in the Consolidated Balance Sheets as of December 31:


($ in millions)	2024		2023
Partnership investments	$	2,520	2,326
Derivative instruments	2,472		2,677
Accounts receivable and drafts-in-process	2,381		2,007
Bank owned life insurance	2,135		2,103
Deferred tax assets	1,429		1,438
Accrued interest and fees receivable	796		797
Operating lease right-of-use assets	526		511
Income tax receivable	174		187
Prepaid expenses	142		143
OREO and other repossessed property	32		39
Worldpay, Inc. TRA receivable	—		35
Other	250		275
Total other assets	$	12,857	12,538

In conjunction with Worldpay, Inc.’s IPO in 2012, the Bancorp entered into two TRAs with Worldpay, Inc. The TRAs provide for payments by Worldpay, Inc. to the Bancorp of 85% of the cash savings actually realized as a result of the increase in tax basis that results from the historical or future purchase of equity in Worldpay Holding, LLC from the Bancorp or from the exchange of equity units in Worldpay Holding, LLC for cash or Class A Stock, as well as any tax benefits attributable to payments made under the TRA.

During the fourth quarter of 2019, the Bancorp entered into an agreement with Fidelity National Information Services, Inc. and Worldpay, Inc. under which Worldpay, Inc. was potentially obligated to pay up to approximately $366 million to the Bancorp to terminate and settle a portion of the remaining TRA cash flows, totaling an estimated $720 million, upon the exercise of certain call options by Worldpay, Inc. or certain put options by the Bancorp. In 2019, the Bancorp recognized a gain of approximately $345 million in other noninterest income associated with these options. The Worldpay, Inc. TRA receivable associated with this transaction, recorded in other assets in the Consolidated Balance Sheets, was $35 million as of December 31, 2023. Subsequent to December 31, 2023, the Bancorp received cash from Worldpay, Inc. to settle the receivable that had been recorded as of December 31, 2023 for the remaining put and call options. Neither the Bancorp nor Worldpay, Inc. have any significant remaining rights or obligations under this agreement.

Separate from the impact of the TRA settlement agreement discussed above, the Bancorp recognized $11 million, $22 million and $46 million in other noninterest income in the Consolidated Statements of Income associated with the TRA during the years ended December 31, 2024, 2023 and 2022, respectively. There are no remaining cash flows to be recognized associated with the TRA.