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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Operating Activities              
Net income $ 235 $ 236 $ 539 $ 16 $ 781 $ 612  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:              
Provision for credit losses         (245) 502  
Deferred income tax expense (benefit)         (28) (82)  
Depreciation and amortization of premises and equipment         46 37  
Amortization of intangible assets 14   15   42 25  
Net other amortization and accretion         (50) (18)  
Net (increase) decrease in derivatives         309 (325)  
Purchase accounting gain 0   (532)   1 (532)  
Stock-based compensation expense         31 23  
Securities (gains) losses, net         (12) 2  
Gain (loss) on extinguishment of debt 23   0   23 0  
Net (gains) losses on sale/disposal of fixed assets         32 7  
(Gain) loss on BOLI         (5) (4)  
Loans held for sale:              
Purchases and originations         (4,682) (2,780)  
Gross proceeds from settlements and sales         3,288 1,578  
(Gain) loss due to fair value adjustments and other         (142) (43)  
Other operating activities, net         1,179 725  
Total adjustments         (213) (885)  
Net cash provided by (used in) operating activities         568 (273)  
Investing Activities              
Proceeds from sales of securities available for sale 35   240   68 249  
Proceeds from maturities of securities available for sale         1,680 2,993  
Purchases of securities available for sale         (2,343) (3,166)  
Purchases of securities held to maturity         (304) 0  
Proceeds from prepayments of securities held to maturity         10 0  
Proceeds from sales of premises and equipment         22 9  
Purchases of premises and equipment         (46) (35)  
Proceeds from BOLI         12 8  
Net (increase) decrease in loans and leases         2,891 (2,310)  
Net increase in interest-bearing deposits with banks         (6,478) (3,013)  
Cash received for acquisitions, net         0 1,806  
Other investing activities, net         15 10  
Net cash used in investing activities         (4,473) (3,449)  
Common stock:              
Stock options exercised         25 4  
Cash dividends paid         (252) (139)  
Repurchase of shares         (272) (4)  
Cancellation of common shares         0 (8)  
Preferred stock:              
Preferred stock issuance         145 145  
Cash dividends paid - preferred stock - noncontrolling interest         (9) (9)  
Cash dividends paid - preferred stock         (24) (8)  
Net increase in deposits         4,287 5,561  
Net increase (decrease) in short-term borrowings         27 (1,585)  
Proceeds from issuance of term borrowings         0 1,241  
Increases (decreases) in term borrowings         (112) (1,075)  
Net cash provided by financing activities         3,815 4,123  
Net increase (decrease) in cash and cash equivalents         (90) 401  
Cash and cash equivalents at beginning of period   $ 1,648   $ 1,267 1,648 1,267 $ 1,267
Cash and cash equivalents at end of period $ 1,558   $ 1,668   1,558 1,668 $ 1,648
Supplemental Disclosures              
Total interest paid         128 181  
Total taxes paid         254 90  
Total taxes refunded         28 1  
Transfer from loans to OREO         3 2  
Transfer from loans HFS to trading securities         1,490 1,083  
Transfer from loans to loans HFS         $ (31) $ 4