XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Interim Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income before noncontrolling interests $ 533 $ 562
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 11 19
Changes in fair values of equity warrant assets, net of proceeds from exercises (33) (29)
Changes in fair values of derivatives, net 104 14
Gains on investment securities, net (85) (167)
Distributions of earnings from non-marketable and other equity securities 15 22
Depreciation and amortization 50 31
Amortization of premiums and discounts on investment securities, net 109 49
Amortization of share-based compensation 51 27
Amortization of deferred loan fees (70) (53)
Deferred income tax expense 47 58
Excess tax benefit from exercise of stock options and vesting of restricted shares (10) (11)
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (13) (41)
Accounts receivable and payable, net 4 10
Income tax receivable and payable, net 90 93
Accrued compensation (560) (279)
Foreign exchange spot contracts, net 143 107
Other, net (27) (198)
Net cash provided by operating activities 359 214
Cash flows from investing activities:    
Purchases of AFS securities (5,665) (450)
Sales proceeds 5,099 0
Proceeds from maturities and paydowns of AFS securities 462 1,654
Purchases of HTM securities (4,631) (21,685)
Proceeds from maturities and paydowns of HTM securities 3,974 1,770
Purchases of non-marketable and other equity securities (106) (21)
Proceeds from sales and distributions of capital of non-marketable and other securities 41 274
Net increase in loans (2,342) (2,538)
Purchases of premises and equipment (32) (14)
Net cash used for investing activities (3,200) (21,010)
Cash flows from financing activities:    
Net increase in deposits 8,931 22,168
Net (decrease) increase in short-term borrowings (22) 18
Proceeds from issuance of long-term debt 0 494
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (11) (12)
Net proceeds from the issuance of preferred stock 0 739
Payment of preferred stock dividend (43) (5)
Proceeds from issuance of common stock, ESPP and ESOP, net of restricted stock awards (27) 974
Net cash provided by financing activities 8,828 24,376
Net increase in cash and cash equivalents 5,987 3,580
Cash and cash equivalents at beginning of period 14,619 17,675
Cash and cash equivalents at end of period 20,606 21,255
Cash paid during the period for:    
Interest 43 17
Income taxes 31 29
Noncash items during the period:    
Changes in unrealized gains and losses on AFS securities, net of tax (736) (594)
Transfers from AFS securities to HTM $ 0 $ 2,868