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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 794 $ 916 $ 912
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 150 260 95
Deferred income tax expense (benefit) (17) 44 91
Depreciation and amortization of premises and equipment 55 55 59
Amortization of intangible assets 44 47 51
Net other amortization and accretion 2 0 (25)
Net decrease in trading securities (a) [1] 1,011 1,163 2,120
Net (increase) decrease in derivatives (2) (314) 524
Stock-based compensation expense 59 36 75
Securities (gains) losses, net 89 4 (18)
Net (gains) losses on sale/disposal of fixed assets (3) 0 (1)
Gain on divestiture 0 (9) 0
Gain on BOLI (5) (7) (9)
Loans held for sale:      
Purchases and originations (2,758) (2,295) (3,728)
Gross proceeds from settlements and sales 1,792 1,183 2,310
(Gain) loss due to fair value adjustments and other (75) (12) 107
Other operating activities, net 132 228 (272)
Total adjustments 474 383 1,379
Net cash provided by operating activities 1,268 1,299 2,291
Investing Activities      
Proceeds from sales of securities available for sale 1,155 0 0
Proceeds from maturities of securities available for sale 831 856 1,351
Purchases of securities available for sale (1,538) (261) (2,767)
Purchases of securities held to maturity 0 0 (712)
Proceeds from prepayments of securities held to maturity 57 53 55
Proceeds from sales of premises and equipment 8 1 18
Purchases of premises and equipment (44) (37) (28)
Proceeds from BOLI 13 14 22
Net increase in loans and leases (1,337) (3,303) (3,204)
Net (increase) decrease in interest-bearing deposits with banks (209) 56 13,523
Cash received for divestitures 0 11 0
Other investing activities, net 6 5 75
Net cash (used in) provided by investing activities (1,058) (2,605) 8,333
Common stock:      
Stock options exercised 9 5 36
Cash dividends paid (332) (335) (324)
Repurchase of shares (626) (10) (12)
Preferred stock:      
Preferred stock issuance 0 0 494
Call of preferred stock (100) 0 0
Cash dividends paid - preferred stock - noncontrolling interest (19) (17) (11)
Cash dividends paid - preferred stock (29) (32) (32)
Net (decrease) increase in deposits (201) 2,289 (11,406)
Net increase in short-term borrowings 851 43 382
Net increase (decrease) in term borrowings 43 (449) 4
Net cash (used in) provided by financing activities (404) 1,494 (10,869)
Net (decrease) increase in cash and cash equivalents (194) 188 (245)
Cash and cash equivalents at beginning of period 1,731 1,543 1,788
Cash and cash equivalents at end of period 1,537 1,731 1,543
Supplemental Disclosures      
Total interest paid 1,869 1,428 280
Total taxes paid 106 123 20
Total taxes refunded 7 19 7
Transfer from loans to OREO 3 4 3
Transfer from loans HFS to trading securities 992 1,212 1,893
Transfer from loans to loans HFS 0 7 0
Preferred stock conversion to common stock $ 0 $ 493 $ 0
[1] (a) Includes transfers from loans HFS to trading securities.