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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income before noncontrolling interests $ 2,073 $ 1,294 $ 1,185
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 123 220 107
Gains on investment securities, net (761) (421) (135)
Distributions of earnings from non-marketable and other equity securities 201 86 95
Depreciation and amortization 151 101 83
Amortization of premiums and discounts on investment securities, net 451 75 16
Amortization of share-based compensation 136 84 67
Amortization of deferred loan fees (269) (174) (155)
Deferred income tax (benefit) expense (8) 7 (3)
Excess tax benefit from exercise of stock options and vesting of restricted shares (40) (6) (10)
Losses from the write-off of premises and equipment and right-of-use assets 39 30 5
Other losses 0 0 9
Changes in other assets and liabilities:      
Accrued interest receivable and payable, net (185) (26) (24)
Accounts receivable and payable, net 17 19 (17)
Income tax receivable and payable, net (122) 98 (12)
Accrued compensation 332 191 (15)
Foreign exchange spot contracts, net (16) (21) 60
Proceeds from termination of interest rate swaps 0 228 0
Other, net (280) (289) (75)
Net cash provided by operating activities 1,812 1,446 1,164
Cash flows from investing activities:      
Purchases of available-for-sale securities (12,147) (23,208) (9,872)
Proceeds from sales of available-for-sale securities 1,591 2,654 2,189
Proceeds from maturities and paydowns of available-for-sale securities 4,768 4,184 1,643
Purchases of held-to-maturity securities (85,519) (6,778) (493)
Proceeds from maturities and paydowns of held-to-maturity securities 13,428 4,036 2,125
Purchases of non-marketable and other equity securities (365) (201) (136)
Proceeds from sales and distributions of capital of non-marketable and other equity securities 666 148 114
Net increase in loans (13,726) (11,927) (4,775)
Purchases of premises and equipment (113) (87) (65)
Business acquisitions, net 1,081 (27) (102)
Net cash used for investing activities (90,336) (31,206) (9,372)
Cash flows from financing activities:      
Net increase in deposits 78,238 40,224 12,429
Net increase (decrease) in short-term borrowings 57 3 (614)
Principal payments of long-term debt 0 0 (359)
Proceeds from issuance of long-term debt 1,636 495 0
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (80) (23) (51)
Net proceeds from the issuance of preferred stock 3,306 0 340
Payment of preferred stock dividends (63) (17) 0
Common stock repurchase 0 (60) (352)
Proceeds from issuance of common stock, ESPP and ESOP 2,374 31 25
Net cash provided by financing activities 85,468 40,653 11,418
Net (decrease) increase in cash and cash equivalents (3,056) 10,893 3,210
Cash and cash equivalents at beginning of period 17,675 6,782 3,572
Cash and cash equivalents at end of period 14,619 17,675 6,782
Cash paid during the period for:      
Interest 93 84 218
Income taxes 739 299 422
Noncash items during the period:      
Changes in unrealized gains and losses on available-for-sale securities, net of tax (488) 394 140
Distributions of stock from investments 72 12 9
Transfers from AFS securities to HTM 8,953 0 0
Equity warrant assets      
Adjustments to reconcile net income to net cash provided by operating activities:      
Changes in fair value of derivatives (26) (2) 2
Derivative      
Adjustments to reconcile net income to net cash provided by operating activities:      
Changes in fair value of derivatives $ (4) $ (48) $ (19)