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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 912 $ 1,010 $ 857
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for credit losses 95 (310) 503
Deferred income tax expense (benefit) 91 0 (18)
Depreciation and amortization of premises and equipment 59 61 52
Amortization of intangible assets 51 56 40
Net other amortization and accretion (11) (67) (30)
Net decrease in trading securities 2,120 1,824 1,912
Net (increase) decrease in derivatives 524 412 (223)
Purchase accounting gain 0 1 (533)
Stock-based compensation expense 75 43 32
Securities (gains) losses, net (18) (13) 6
Loss on debt extinguishment 0 26 0
Net (gains) losses on sale/disposal of fixed assets (1) 29 8
(Gain) loss on BOLI (9) (8) (5)
Gain on sale of mortgage servicing rights (12) 0 0
Gain on sale of title services business (22) 0 0
Loans held for sale:      
Purchases and originations (3,728) (6,644) (4,710)
Gross proceeds from settlements and sales 2,310 4,451 2,907
(Gain) loss due to fair value adjustments and other 107 (205) (81)
Other operating activities, net (232) 75 (545)
Total adjustments 1,399 (269) (685)
Net cash provided by operating activities 2,311 741 172
Investing Activities      
Proceeds from sales of securities available for sale 0 68 629
Proceeds from maturities of securities available for sale 1,351 2,771 4,099
Purchases of securities available for sale (2,767) (3,736) (4,740)
Purchases of securities held to maturity (712) (720) 0
Proceeds from prepayments of securities held to maturity 55 17 0
Proceeds from sales of premises and equipment 18 42 12
Purchases of premises and equipment (28) (53) (58)
Proceeds from BOLI 22 22 12
Net (increase) decrease in loans and leases (3,224) 3,509 (819)
Net (increase) decrease in interest-bearing deposits with banks 13,523 (6,556) (6,187)
Cash received for acquisitions, net 0 0 2,071
Other investing activities, net 75 19 14
Net cash provided by (used in) investing activities 8,313 (4,617) (4,967)
Common stock:      
Stock options exercised 36 28 7
Cash dividends paid (324) (333) (222)
Repurchase of shares (12) (416) (4)
Cancellation of common shares 0 0 (7)
Preferred stock issuance 494 145 144
Call of preferred stock 0 (100) 0
Cash dividends paid - preferred stock - noncontrolling interest (11) (11) (12)
Cash dividends paid - preferred stock (32) (33) (17)
Net increase (decrease) in deposits (11,406) 4,919 7,143
Net increase (decrease) in short-term borrowings 382 (75) (1,529)
Increases (decreases) in term borrowings 4 (108) (327)
Net cash provided by (used in) financing activities (10,869) 4,016 5,176
Net increase (decrease) in cash and cash equivalents (245) 140 381
Cash and cash equivalents at beginning of period 1,788 1,648 1,267
Cash and cash equivalents at end of period 1,543 1,788 1,648
Supplemental Disclosures      
Total interest paid 280 170 261
Total taxes paid 20 258 105
Total taxes refunded 7 30 36
Transfer from loans to OREO 3 4 2
Transfer from loans HFS to trading securities 1,893 2,232 1,742
Transfer from loans to loans HFS $ 0 $ 31 $ 9