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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net income $ 297 $ 205
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 0 38
Depreciation 11 13
Amortization of discounts and premiums, net (3) 10
Net loss (gain) on securities   (1)
Net gain on sales of loans (1)  
Stock-based compensation 16 16
Deferred tax expense 26 77
Changes in operating assets and liabilities:    
Increase in other assets [1] (255) (99)
Decrease in other liabilities [2] (25) (9)
Purchases of securities held for trading (60)  
Proceeds from sales of securities held for trading 60  
Held for sale originations (52) (103)
Net cash provided by operating activities 14 147
Cash Flows from Investing Activities:    
Proceeds from repayment of securities available for sale 931 960
Proceeds from sales of securities available for sale   442
Purchase of securities available for sale (1,252) (735)
Redemption of Federal Home Loan Bank stock 29 127
Purchases of Federal Home Loan Bank stock (1) (148)
Proceeds from bank-owned life insurance, net 7 2
Proceeds from sales of loans 33 3
Purchases of loans (66) (48)
Other changes in loans, net (481) (379)
(Purchases) dispositions of premises and equipment, net (2) 3
Net cash (used in) provided by investing activities (802) 227
Cash Flows from Financing Activities:    
Net increase in deposits 1,740 72
Net increase in short-term borrowed funds   1,450
Proceeds from long-term borrowed funds 624 3,125
Repayments of long-term borrowed funds (1,249) (4,125)
Cash dividends paid on common stock (158) (158)
Cash dividends paid on preferred stock (16) (16)
Treasury stock repurchased   (50)
Payments relating to treasury shares received for restricted stock award tax payments (15) (9)
Net cash provided by financing activities 926 289
Net increase (decrease) in cash, cash equivalents, and restricted cash 138 663
Cash, cash equivalents, and restricted cash at beginning of period 1,948 742
Cash, cash equivalents, and restricted cash at end of period 2,086 1,405
Supplemental information:    
Cash paid for interest 206 370
Cash paid for income taxes 336 10
Non-cash investing and financing activities:    
Securitization of residential mortgage loans to mortgage-backed securities available for sale 66 42
Transfer of loans from held for investment to held for sale 48  
Transfer of loans from held for sale to held for investment 94  
Shares issued for restricted stock awards $ 28 $ 22
[1] Includes $10 million and $9 million of amortization of operating lease right-of-use assets for the six months ende
[2] Includes $10 million and $9 million of amortization of operating lease liability for the six months ende