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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income (loss) $ 448 $ 622
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 83 (93)
Depreciation and amortization expense, net 40 17
Accretion of acquired loans 5 6
Increase in cash surrender value of corporate-owned life insurance (27) (27)
Stock-based compensation expense 29 26
Deferred income taxes (benefit) 124 108
Proceeds from sales of loans held for sale 4,317 3,357
Originations of loans held for sale, net of repayments (2,711) (3,937)
Net losses (gains) on sales of loans held for sale (48) (55)
Net losses (gains) on leased equipment (1) (3)
Net losses (gains) on sales of fixed assets (6) 0
Net decrease (increase) in trading account assets (147) (76)
Other operating activities, net (1,225) (150)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 881 (205)
INVESTING ACTIVITIES    
Cash received (used) in acquisitions, net of cash acquired 0 (9)
Net decrease (increase) in short-term investments, excluding acquisitions 7,129 818
Purchases of securities available for sale (2,515) (9,854)
Proceeds from sales of securities available for sale 0 0
Proceeds from prepayments and maturities of securities available for sale 1,534 2,653
Proceeds from prepayments and maturities of held-to-maturity securities 673 743
Purchases of held-to-maturity securities (4) (3)
Purchases of other investments (111) (9)
Proceeds from sales of other investments 5 17
Proceeds from prepayments and maturities of other investments 4 3
Net decrease (increase) in loans, excluding acquisitions, sales and transfers (4,793) 204
Proceeds from sales of portfolio loans 49  
Proceeds from sales of portfolio loans   (98)
Proceeds from corporate-owned life insurance 14 17
Purchases of premises, equipment, and software (18) (12)
Proceeds from sales of premises and equipment 7 0
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 1,974 (5,530)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits, excluding acquisitions (3,909) 6,901
Net increase (decrease) in short-term borrowings 2,060 46
Net proceeds from issuance of long-term debt 4,001 0
Payments on long-term debt (4,989) (1,004)
Open market common share repurchases 0 (135)
Employee equity compensation program Common Share repurchases (44) (31)
Net proceeds from reissuance of Common Shares 5 12
Cash dividends paid (208) (207)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (3,084) 5,582
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS (229) (153)
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD 913 1,091
CASH AND DUE FROM BANKS AT END OF PERIOD 684 938
Additional disclosures relative to cash flows:    
Interest paid 58 80
Income taxes paid (refunded) 19 43
Noncash items:    
Reduction of secured borrowing and related collateral 2 2
Loans transferred to portfolio from held for sale 0 8
Loans transferred to held for sale from portfolio 0 91
Loans transferred to OREO 1 2
CMBS risk retentions 0 (1)
ABS risk retentions $ 10 $ 17