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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 568 $ 554
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 31 132
Depreciation and amortization 95 108
Share-based compensation 28 28
Deferred income tax expense 3 21
Net (increase) decrease in trading securities (20) 434
Net decrease (increase) in loans held for sale 2 (10)
Change in other liabilities (188) (260)
Change in other assets 136 74
Other, net (24) 49
Net cash provided by operating activities 631 1,130
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease in money market investments 186 636
Proceeds from maturities and paydowns of investment securities held-to-maturity 776 811
Purchases of investment securities held-to-maturity (62) (40)
Proceeds from sales, maturities, and paydowns of investment securities available-for-sale 1,527 1,846
Purchases of investment securities available-for-sale (528) (484)
Net change in loans and leases (1,130) (1,241)
Purchases and sales of other noninterest-bearing investments 21 207
Purchases of premises and equipment (69) (84)
Other, net 5 (19)
Net cash provided by investing activities 726 1,632
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 757 3,747
Net change in short-term borrowed funds (1,460) (6,071)
Redemption of long-term debt 0 (128)
Proceeds from the issuance of common stock 1 2
Dividends paid on common and preferred stock (215) (211)
Bank common stock repurchased (35) (50)
Other, net (7) (8)
Net cash used in financing activities (959) (2,719)
Net increase in cash and due from banks 398 43
Cash and due from banks at beginning of period 716 657
Cash and due from banks at end of period 1,114 700
Cash paid for interest 1,423 913
Net cash paid for income taxes 131 233
Noncash activities:    
Loans held for investment reclassified to loans held for sale, net $ 144 $ 67