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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 420 $ 611
Adjustments to reconcile net income to net change in cash due to operating activities:    
Provision (benefit) for credit losses 3 (140)
Net change in loans held for sale 898 (622)
Depreciation, amortization and accretion 67 152
Deferred income taxes (47) 80
Share-based compensation 33 22
Net gain on sales of assets (4) (3)
Net (increase) decrease in other assets (1,216) (773)
Net increase (decrease) in other liabilities 1,400 (17)
Net change due to operating activities 1,554 (690)
Investment securities:    
Purchases of debt securities available for sale (2,656) (4,256)
Proceeds from maturities and paydowns of debt securities available for sale 1,203 2,281
Proceeds from sales of debt securities available for sale 704 54
Proceeds from maturities and paydowns of debt securities held to maturity 190 241
Net (increase) decrease in interest-bearing deposits in banks (369) (2)
Acquisitions, net of cash acquired (143) 0
Purchases of loans (718) (478)
Sales of loans 305 326
Net (increase) decrease in loans and leases (2,196) 1,194
Capital expenditures, net (51) (10)
Purchase of bank-owned life insurance (100) (375)
Other (83) (47)
Net change due to investing activities (3,914) (1,072)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits 4,415 4,185
Net increase (decrease) in short-term borrowed funds (52) (176)
Repayments of long-term borrowed funds (1,004) (4)
Treasury stock purchased 0 (95)
Dividends declared and paid to common stockholders (165) (167)
Dividends declared and paid to preferred stockholders (33) (32)
Premium paid to exchange debt 0 (1)
Payments of employee tax withholding for share-based compensation (23) (21)
Net change due to financing activities 3,138 3,689
Net change in cash and cash equivalents [1] 778 1,927
Cash and cash equivalents at beginning of period [1] 9,158 12,733
Cash and cash equivalents at end of period [1] $ 9,936 $ 14,660
[1] Cash and cash equivalents include cash and due from banks and interest-bearing cash and due from banks as reflected on the Consolidated Balance Sheets.