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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net income $ 236 $ 16
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses (45) 154
Deferred income tax expense (benefit) (3) (19)
Depreciation and amortization of premises and equipment 16 11
Amortization of intangible assets 14 5
Net other amortization and accretion (14) 4
Net (increase) decrease in derivatives 322 (324)
Stock-based compensation expense 10 7
Net (gains) losses on sale/disposal of fixed assets 34 0
Loans held for sale:    
Purchases and originations (943) (588)
Gross proceeds from settlements and sales 683 181
(Gain) loss due to fair value adjustments and other (35) (1)
Other operating activities, net 789 (846)
Total adjustments 828 (1,416)
Net cash provided by (used in) operating activities 1,064 (1,400)
Investing Activities    
Proceeds from sales of securities available for sale 26 9
Proceeds from maturities of securities available for sale 591 224
Purchases of securities available for sale (1,065) (214)
Proceeds from sales of premises and equipment 1 2
Purchases of premises and equipment (10) (8)
Proceeds from BOLI 1 2
Net increase in loans and leases (338) (2,312)
Net increase in interest-bearing deposits with banks (3,284) (188)
Other investing activities, net 6 3
Net cash used in investing activities (4,072) (2,482)
Common stock:    
Stock options exercised 12 4
Cash dividends paid (84) (44)
Repurchase of shares (62) (2)
Cancellation of common shares 0 (2)
Cash dividends paid - preferred stock - noncontrolling interest (3) (3)
Cash dividends paid - preferred stock (8) (2)
Net increase in deposits 3,190 1,990
Net increase in short-term borrowings 4 1,807
Increases (decreases) in restricted and secured term borrowings 0 (3)
Net cash provided by financing activities 3,049 3,745
Net increase (decrease) in cash and cash equivalents 41 (137)
Cash and cash equivalents at beginning of period 1,648 1,267
Cash and cash equivalents at end of period 1,689 1,130
Supplemental Disclosures    
Total interest paid 39 84
Total taxes paid 2 5
Total taxes refunded 4 0
Transfer from loans to OREO 0 1
Transfer from loans HFS to trading securities 498 398
Transfer from loans to loans HFS $ (3) $ 0