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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income $ 526 $ 300
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Provision (benefit) for credit losses 506 (31)
Deferred tax expense 14 13
Depreciation, amortization, and accretion, net 271 67
Stock based compensation expense 14 0
Realized gain on sales of investment securities available for sale, net 0 (25)
Fair value adjustment on marketable equity securities, net 3 (28)
Gain on sales of loans, net (13) (20)
Gain on sales of operating lease equipment, net (4) 0
Gain on sales of premises and equipment, net (4) 0
Gain on other real estate owned, net (6) (2)
Gain on acquisition (431) 0
Gain on extinguishment of debt (6) 0
Origination of loans held for sale (342) (597)
Proceeds from sales of loans held for sale 386 562
Net change in other assets 371 (773)
Net change in other liabilities 266 (23)
Other operating activities (308) (8)
Net cash provided by (used in) operating activities 1,243 (565)
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in loans (2,616) 102
Purchases of investment securities available for sale (1,284) (2,956)
Purchases of investment securities held to maturity 0 (1,012)
Proceeds from maturities of investment securities available for sale 665 1,570
Proceeds from maturities of investment securities held to maturity 526 414
Proceeds from sales of investment securities available for sale 0 1,078
Proceeds from sales of investments in marketable equity securities 0 1
Net decrease (increase) in interest-earning deposits at banks 5,514 (3,524)
Proceeds from sales of other real estate owned 22 21
Proceeds from sales of loans 116 0
Proceeds from sales of premises and equipment 12 1
Proceeds from sales of operating lease equipment 40 0
Purchases of premises and equipment (39) (51)
Purchases of operating lease equipment (339) 0
Acquisition, net of cash acquired 134 0
Other investing activities (71) (30)
Net cash provided by (used in) investing activities 2,680 (4,386)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in time deposits (1,676) (267)
Net change in demand and other interest-bearing deposits (110) 5,247
Net increase in short-term borrowings 57 51
Repayment of long-term borrowings (3,542) (24)
Proceeds from issuance of long-term borrowings 1,652 0
Cash dividends paid (38) (23)
Other financing activities (21) 0
Net cash (used in) provided by financing activities (3,678) 4,984
Change in cash and due from banks 245 33
Cash and due from banks at beginning of period 338 362
Cash and due from banks at end of period 583 395
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 209 32
Income taxes (2) 867
Significant non-cash investing and financing activities:    
Transfers of loans to other real estate 2 5
Transfers of premises and equipment to other real estate 12 7
Dividends declared but not paid 1 0
Transfer of assets from held for investment to held for sale 59 57
Transfer of assets from held for sale to held for investment 25 2
Loans held for sale exchanged for investment securities 38 126
Commitments extended during the period on affordable housing investment credits 20 15
Common Stock | Issued for Acquisition    
Issuance of stock 5,279 0
Common Stock | Issued for Stock Based Compensation    
Issuance of stock 73 0
Preferred Stock | Issued for Acquisition    
Issuance of stock $ 541 $ 0