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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 916 $ 912 $ 1,010
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision (benefit) for credit losses 260 95 (310)
Deferred income tax expense (benefit) 44 91 0
Depreciation and amortization of premises and equipment 55 59 61
Amortization of intangible assets 47 51 56
Net other amortization and accretion 0 (25) (72)
Net decrease in trading securities 1,163 2,120 1,824
Net (increase) decrease in derivatives (314) 524 412
Stock-based compensation expense 36 75 43
Securities (gains) losses, net 4 (18) (13)
Loss on debt extinguishment 0 0 26
Net (gains) losses on sale/disposal of fixed assets 0 (1) 29
Gain on sale of title services business (9) 0 0
(Gain) loss on BOLI (7) (9) (8)
Loans held for sale:      
Purchases and originations (2,295) (3,728) (6,644)
Gross proceeds from settlements and sales 1,183 2,310 4,451
(Gain) loss due to fair value adjustments and other (12) 107 (205)
Other operating activities, net 228 (272) 65
Total adjustments 383 1,379 (285)
Net cash provided by operating activities 1,299 2,291 725
Investing Activities      
Proceeds from sales of securities available for sale 0 0 68
Proceeds from maturities of securities available for sale 856 1,351 2,771
Purchases of securities available for sale (261) (2,767) (3,736)
Purchases of securities held to maturity 0 (712) (720)
Proceeds from prepayments of securities held to maturity 53 55 17
Proceeds from sales of premises and equipment 1 18 42
Purchases of premises and equipment (37) (28) (53)
Proceeds from BOLI 14 22 22
Net (increase) decrease in loans and leases (3,303) (3,204) 3,525
Net (increase) decrease in interest-bearing deposits with banks 56 13,523 (6,556)
Cash received for divestitures 11 0 0
Other investing activities, net 5 75 19
Net cash provided by (used in) investing activities (2,605) 8,333 (4,601)
Common stock:      
Stock options exercised 5 36 28
Cash dividends paid (335) (324) (333)
Repurchase of shares (10) (12) (416)
Preferred stock issuance 0 494 145
Call of preferred stock 0 0 (100)
Cash dividends paid - preferred stock - noncontrolling interest (17) (11) (11)
Cash dividends paid - preferred stock (32) (32) (33)
Net increase (decrease) in deposits 2,289 (11,406) 4,919
Net increase (decrease) in short-term borrowings 43 382 (75)
Increases (decreases) in term borrowings (449) 4 (108)
Net cash provided by (used in) financing activities 1,494 (10,869) 4,016
Net increase (decrease) in cash and cash equivalents 188 (245) 140
Cash and cash equivalents at beginning of period 1,543 1,788 1,648
Cash and cash equivalents at end of period 1,731 1,543 1,788
Supplemental Disclosures      
Total interest paid 1,428 280 170
Total taxes paid 123 20 258
Total taxes refunded 19 7 30
Transfer from loans to OREO 4 3 4
Transfer from loans HFS to trading securities 1,212 1,893 2,232
Transfer from loans to loans HFS 7 0 31
Preferred stock conversion to common stock $ 493 $ 0 $ 0