Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA


As of and for the years ended December 31 ($ in millions, except for per share data)	2019			2018		2017		2016		2015
Income Statement Data
Net interest income (U.S. GAAP)	$	4,797			4,140		3,798		3,615		3,533
Net interest income (FTE) (a)(b)		4,814			4,156		3,824		3,640		3,554
Noninterest income		3,536			2,790		3,224		2,696		3,003
Total revenue (a)		8,350			6,946		7,048		6,336		6,557
Provision for credit losses (c)		471			207		261		366		400
Noninterest expense		4,660			3,958		3,782		3,737		3,643
Net income attributable to Bancorp		2,512			2,193		2,180		1,547		1,685
Net income available to common shareholders		2,419			2,118		2,105		1,472		1,610
Common Share Data
Earnings per share - basic	$	3.38			3.11		2.86		1.92		2.00
Earnings per share - diluted		3.33			3.06		2.81		1.91		1.97
Cash dividends declared per common share		0.94			0.74		0.60		0.53		0.52
Book value per share		27.41			23.07		21.43		19.62		18.31
Market value per share		30.74			23.53		30.34		26.97		20.10
Financial Ratios
Return on average assets		1.53	%		1.54		1.55		1.09		1.20
Return on average common equity		13.1			14.5		13.9		9.7		11.2
Return on average tangible common equity (including AOCI) (b)		17.1			17.5		16.6		11.6		13.5
Return on average tangible common equity (excluding AOCI) (b)		18.2			16.7		16.9		12.2		13.9
Dividend payout		27.8			23.8		21.0		27.6		26.0
Average total Bancorp shareholders’ equity as a percent of average assets		12.14			11.23		11.69		11.57		11.24
Tangible common equity as a percent of tangible assets (excluding AOCI) (b)		8.44			8.71		8.83		8.77		8.50
Net interest margin (a)(b)		3.31			3.22		3.03		2.88		2.88
Net interest rate spread (a)(b)		2.92			2.87		2.76		2.66		2.69
Efficiency (a)(b)		55.8			57.0		53.7		59.0		55.6
Credit Quality
Net losses charged-off	$	369			330		298		362		446
Net losses charged-off as a percent of average portfolio loans and leases		0.35	%		0.35		0.32		0.39		0.48
ALLL as a percent of portfolio loans and leases		1.10			1.16		1.30		1.36		1.37
Allowance for credit losses as a percent of portfolio loans and leases (d)		1.23			1.30		1.48		1.54		1.52
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.62			0.41		0.53		0.80		0.70
Average Balances
Loans and leases, including held for sale	$	107,794			93,876		92,731		94,320		93,339
Securities and other short-term investments		37,610			35,029		33,562		31,965		30,245
Assets		163,936			142,183		140,527		142,173		139,999
Transaction deposits (e)		111,130			97,914		96,052		95,371		95,244
Core deposits (f)		116,600			102,020		99,823		99,381		99,295
Wholesale funding (g)		22,451			20,573		20,360		21,813		20,210
Bancorp shareholders’ equity		19,902			15,970		16,424		16,453		15,742
Regulatory Capital Ratios
CET1 capital (h)		9.75	%		10.24		10.61		10.39		9.82
Tier I risk-based capital (h)		10.99			11.32		11.74		11.50		10.93
Total risk-based capital (h)		13.84			14.48		15.16		15.02		14.13
Tier I leverage		9.54			9.72		10.01		9.90		9.54

	(a)	Amounts presented on an FTE basis. The FTE adjustment for the years ended December 31, 2019 , 2018, 2017, 2016 and 2015 was $17 , $16, $26, $25 and $21, respectively.

	(b)	These are non-GAAP measures. For further information, refer to the Non-GAAP Financial Measures section of MD&A.

	(c)	The provision for credit losses is the sum of the provision for loan and lease losses and the provision for (benefit from) the reserve for unfunded commitments.

	(d)	The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

	(e)	Includes demand deposits, interest checking deposits, savings deposits, money market deposits and foreign office deposits.

	(f)	Includes transaction deposits and other time deposits.

	(g)	Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

	(h)	Under the U.S. banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together in the Bancorp’s total risk-weighted assets.

43 Fifth Third Bancorp

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

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