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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income $ 374 $ 546
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses (10) (160)
Deferred income tax expense (benefit) 157 23
Depreciation and amortization of premises and equipment 30 31
Amortization of intangible assets 26 28
Net other amortization and accretion (15) (32)
Net (increase) decrease in trading securities 1,343 1,013
Net (increase) decrease in derivatives 558 253
Stock-based compensation expense 32 21
Securities (gains) losses, net (6) (11)
(Gain) loss on BOLI (3) (2)
Net (gains) losses on sale/disposal of fixed assets (1) 33
Loans held for sale:    
Purchases and originations (2,467) (2,804)
Gross proceeds from settlements and sales 1,594 2,050
(Gain) loss due to fair value adjustments and other 42 (69)
Other operating activities, net (136) 95
Total adjustments 1,144 469
Net cash provided by (used in) operating activities 1,518 1,015
Investing Activities    
Proceeds from sales of securities available for sale 0 33
Proceeds from maturities of securities available for sale 760 1,175
Purchases of securities available for sale (1,863) (1,647)
Proceeds from prepayments of securities held to maturity 25 0
Proceeds from sales of premises and equipment 15 4
Purchases of premises and equipment (19) (26)
Proceeds from BOLI 6 6
Net (increase) decrease in loans and leases (1,640) 1,601
Net (increase) decrease in interest-bearing deposits with banks 5,432 (5,100)
Other investing activities, net 4 8
Net cash provided by (used in) investing activities 2,720 (3,946)
Common stock:    
Stock options exercised 26 25
Cash dividends paid (162) (167)
Repurchase of shares (10) (126)
Preferred stock:    
Preferred stock issuance 494 145
Cash dividends paid - preferred stock - noncontrolling interest (6) (6)
Cash dividends paid - preferred stock (16) (16)
Net increase (decrease) in deposits (4,345) 3,304
Net increase (decrease) in short-term borrowings (171) 48
Increases (decreases) in term borrowings 9 1
Net cash provided by (used in) financing activities (4,181) 3,208
Net increase (decrease) in cash and cash equivalents 57 277
Cash and cash equivalents at beginning of period 1,788 1,648
Cash and cash equivalents at end of period 1,845 1,925
Supplemental Disclosures    
Total interest paid 71 98
Total taxes paid 10 173
Total taxes refunded 2 4
Transfer from loans to OREO 0 2
Transfer from loans HFS to trading securities 1,133 871
Transfer from loans to loans HFS $ 0 $ (31)