Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Summary of the Bancorp's Long-Term Borrowings

The following table is a summary of the Bancorp’s long-term borrowings at December 31:

($ in millions)	Maturity			Interest Rate			2024		2023
Parent Company
Senior:
Fixed-rate notes	2024			3.65%			$	—	1,500
Fixed-rate notes	2025			2.375%			750		749
Fixed-rate notes	2027			2.55%			748		748
Fixed-rate/floating-rate notes(c)	2027			1.707%			472		461
Fixed-rate notes	2028			3.95%			648		648
Fixed-rate/floating-rate notes(c)	2028			4.055%			387		386
Fixed-rate/floating-rate notes(c)	2028			6.361%			999		1,013
Fixed-rate/floating-rate notes(c)	2029			6.339%			1,246		1,245
Fixed-rate/floating-rate notes(c)	2030			4.772%			933		944
Fixed-rate/floating-rate notes(c)	2030			4.895%			747		—
Fixed-rate/floating-rate notes(c)	2032			5.631%			996		—
Fixed-rate/floating-rate notes(c)	2033			4.337%			544		561
Subordinated:(a)
Fixed-rate notes	2024			4.30%			—		750
Fixed-rate notes	2038			8.25%			1,051		1,103
Subsidiaries
Senior:
Fixed-rate notes	2025			3.95%			747		727
Fixed-rate/floating-rate notes(e)	2025			5.852%			—		996
Fixed-rate notes	2027			2.25%			599		599
Subordinated:(a)
Fixed-rate notes	2026			3.85%			750		749
Junior subordinated:
Floating-rate debentures(a)(b)	2035			6.04%	-	6.31%	54		54
FHLB advances(d)	2025	-	2047	4.91%			1,508		1,510
Notes associated with consolidated VIEs:
Automobile loan securitization	2026	-	2031	5.13%	-	5.80%	816		1,305
Solar loan securitization, fixed-rate notes	2038			4.05%	-	7.00%	30		35
Other	2025	-	2052	Varies			312		297
Total							$	14,337	16,380

(a)In aggregate, $1.3 billion and $1.5 billion qualifies as Tier 2 capital for regulatory capital purposes for the years ended December 31, 2024 and 2023, respectively.

(b)These rates reflect the floating rates as of December 31, 2024.

(c)This rate reflects the fixed rate in effect as of December 31, 2024.

(d)This rate reflects the weighted-average rate as of December 31, 2024.

(e)This rate reflects the fixed rate in effect as of December 31, 2023.

Schedule of Long-term Debt Maturities

The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2024 are presented in the following table:

($ in millions)	Parent Company		Subsidiaries	Total
2025	$	750	756	1,506
2026	—		2,429	2,429
2027	1,220		613	1,833
2028	2,034		587	2,621
2029	1,246		82	1,328
Thereafter	4,271		349	4,620
Total	$	9,521	4,816	14,337