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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net Income $ 2,314 $ 2,349 $ 2,446
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 530 515 563
Depreciation, amortization and accretion 495 462 436
Stock-based compensation expense 164 169 165
Provision for (benefit from) deferred income taxes 72 (106) (60)
Securities (gains) losses, net (20) (31) 84
MSR fair value adjustment 77 105 (177)
Net gains on sales of loans and fair value adjustments on loans held for sale (34) (27) (126)
Net gains on disposition and impairment of bank premises and equipment and operating lease equipment (14) (7) (1)
Gain on the TRA associated with Worldpay, Inc. (11) (22) (46)
Proceeds from sales of loans held for sale 4,066 4,938 13,123
Loans originated or purchased for sale, net of repayments (4,301) (4,242) (10,239)
Dividends representing return on equity method investments 44 46 50
Net change in:      
Equity and trading debt securities (3) (128) 70
Other assets (625) 326 646
Accrued taxes, interest and expenses and other liabilities 70 162 (506)
Net Cash Provided by Operating Activities 2,824 4,509 6,428
Proceeds from sales:      
AFS securities and other investments 782 2,813 4,359
Loans and leases 419 444 155
Bank premises and equipment 24 7 2
MSRs 5 0 0
Proceeds from repayments / maturities of AFS and HTM securities and other investments 5,814 4,235 4,495
Purchases:      
AFS securities, equity method investments and other investments (7,129) (6,244) (29,714)
Bank premises and equipment (414) (491) (348)
MSRs 0 (25) (213)
Proceeds from settlement of BOLI 34 14 49
Proceeds from sales and dividends representing return of equity method investments 11 69 87
Net cash received for divestitures 6 0 66
Net cash paid on acquisitions 0 0 (917)
Net change in:      
Other short-term investments 4,962 (13,731) 26,224
Portfolio loans and leases (3,540) 3,358 (8,992)
Operating lease equipment 65 63 (124)
Net Cash Provided by (Used in) Investing Activities 1,039 (9,488) (4,871)
Financing Activities      
Net change in deposits (1,660) 5,222 (5,994)
Net change in federal funds purchased and other short-term borrowings (32) (81) (543)
Proceeds from short-term FHLB advances 4,100 6,750 7,550
Repayment of short-term FHLB advances (2,500) (8,550) (3,250)
Proceeds from long-term debt issuances/advances 3,249 4,286 4,026
Repayment of long-term debt (5,282) (1,657) (1,762)
Dividends paid on common and preferred stock (1,176) (1,060) (927)
Repurchase of treasury stock and related forward contract (625) (200) (100)
Other (65) (55) (85)
Net Cash (Used in) Provided by Financing Activities (3,991) 4,655 (1,085)
(Decrease) Increase in Cash and Due from Banks (128) (324) 472
Cash and Due from Banks at Beginning of Period 3,142 3,466 2,994
Cash and Due from Banks at End of Period $ 3,014 $ 3,142 $ 3,466