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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 44,466 $ 40,245
Adjustments to reconcile net income to net cash used in operating activities:    
Provision for credit losses 8,047 6,558
Depreciation and amortization 5,973 4,175
Deferred tax benefit (243) (4,544)
Estimated bargain purchase gain associated with the First Republic acquisition (103)  
Estimated bargain purchase gain associated with the First Republic acquisition   (2,812)
Initial gain on the Visa share exchange (7,990) 0
Other 1,716 3,611
Originations and purchases of loans held-for-sale (160,573) (83,534)
Proceeds from sales, securitizations and paydowns of loans held-for-sale 148,287 83,169
Net change in:    
Trading assets (237,756) (151,151)
Securities borrowed (51,688) (2,852)
Accrued interest and accounts receivable (15,491) (166)
Other assets (1,470) 39,371
Trading liabilities 53,495 30,787
Accounts payable and other liabilities 17,399 (11,955)
Other operating adjustments 6,161 1,841
Net cash (used in) operating activities (189,770) (47,257)
Net change in:    
Federal funds sold and securities purchased under resale agreements (114,402) (34,101)
Held-to-maturity securities:    
Proceeds from paydowns and maturities 72,354 34,152
Purchases (2,358) (4,141)
Available-for-sale securities:    
Proceeds from paydowns and maturities 22,409 39,160
Proceeds from sales 84,394 82,922
Purchases (233,063) (82,075)
Proceeds from sales and securitizations of loans held-for-investment 43,793 34,541
Other changes in loans, net (52,997) (60,094)
Net cash used in the First Republic acquisition (2,362) (9,920)
All other investing activities, net 1,209 (12,683)
Net cash (used in) investing activities (181,023) (12,239)
Net change in:    
Deposits 22,266 (43,083)
Federal funds purchased and securities loaned or sold under repurchase agreements 172,755 66,050
Short-term borrowings 5,355 1,303
Beneficial interests issued by consolidated VIEs (3) 10,823
Proceeds from long-term borrowings 78,949 42,817
Payments of long-term borrowings (67,380) (48,757)
Proceeds from issuance of preferred stock 2,500 0
Redemption of preferred stock (8,250) 0
Treasury stock repurchased (14,529) (7,549)
Dividends paid (10,925) (10,037)
All other financing activities, net (1,586) (1,241)
Net cash provided by financing activities 179,152 10,326
Effect of exchange rate changes on cash and due from banks and deposits with banks 1,750 (6,695)
Net decrease in cash and due from banks and deposits with banks (189,891) (55,865)
Cash and due from banks and deposits with banks at the beginning of the period 624,151 567,234
Cash and due from banks and deposits with banks at the end of the period 434,260 511,369
Cash interest paid 74,794 55,775
Cash income taxes paid, net $ 8,870 $ 5,541