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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income (loss) $ 146 $ 407
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 359 62
Depreciation and amortization expense, net 54 58
Accretion of acquired loans 10 17
Increase in cash surrender value of corporate-owned life insurance (29) (28)
Stock-based compensation expense 25 25
Deferred income taxes (benefit) (18) 99
Proceeds from sales of loans held for sale 2,687 2,045
Originations of loans held for sale, net of repayments (3,256) (1,679)
Net losses (gains) on sales of loans held for sale (38) (28)
Net losses (gains) on leased equipment 6 2
Net securities losses (gains) (4) 0
Net losses (gains) on sales of fixed assets 2 (1)
Net decrease (increase) in trading account assets 245 (130)
Other operating activities, net (362) (289)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (173) 560
INVESTING ACTIVITIES    
Net decrease (increase) in short-term investments, excluding acquisitions (2,801) 50
Purchases of securities available for sale (190) (1,842)
Proceeds from sales of securities available for sale 583 0
Proceeds from prepayments and maturities of securities available for sale 1,176 655
Proceeds from prepayments and maturities of held-to-maturity securities 434 295
Purchases of held-to-maturity securities (4) (9)
Purchases of other investments (91) (16)
Proceeds from sales of other investments 2 7
Proceeds from prepayments and maturities of other investments 10 32
Net decrease (increase) in loans, excluding acquisitions, sales and transfers (8,902) (780)
Proceeds from sales of portfolio loans 54 61
Proceeds from corporate-owned life insurance 19 16
Purchases of premises, equipment, and software (12) (9)
Proceeds from sales of premises and equipment 0 1
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (9,722) (1,539)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits, excluding acquisitions 3,434 866
Net increase (decrease) in short-term borrowings 5,958 83
Net proceeds from issuance of long-term debt 2,497 1,351
Payments on long-term debt (1,506) (1,000)
Open market Common Share repurchases (117) (167)
Employee equity compensation program Common Share repurchases (35) (32)
Net proceeds from reissuance of Common Shares 5 3
Cash dividends paid (208) (192)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 10,028 912
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS 133 (67)
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD 732 678
CASH AND DUE FROM BANKS AT END OF PERIOD 865 611
Additional disclosures relative to cash flows:    
Interest paid 267 306
Income taxes paid (refunded) 35 34
Noncash items:    
Reduction of secured borrowing and related collateral 1 1
Loans transferred to portfolio from held for sale 10 5
Loans transferred to held for sale from portfolio 210 (10)
Loans transferred to OREO 92 0
CMBS risk retentions 12 9
ABS risk retentions $ 11 $ 0