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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Income (loss) from continuing operations, net of tax $ 6,864 $ (2,257)
Loss from discontinued operations, net of tax (3) (1)
Net income (loss) 6,861 (2,258)
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Provision (benefit) for credit losses (1,983) 9,669
Depreciation and amortization, net 1,714 1,804
Deferred tax provision (benefit) 574 (1,574)
Net securities losses (gains) (4) 0
Gain on sales of loans (5) (11)
Stock-based compensation expense 206 74
Other (including (gains) and losses from equity investments) 38 (7)
Loans held for sale:    
Originations and purchases (3,233) (4,347)
Proceeds from sales and paydowns 3,707 4,002
Changes in operating assets and liabilities:    
Changes in interest receivable 99 184
Changes in other assets (3,183) 954
Changes in interest payable (51) (59)
Changes in other liabilities 957 783
Net change from discontinued operations (3) 1
Net cash from operating activities 5,694 9,215
Securities available for sale:    
Purchases (18,185) (14,568)
Proceeds from paydowns and maturities 14,142 9,113
Proceeds from sales 595 144
Loans:    
Net changes in loans held for investment (5,160) 9,797
Principal recoveries of loans previously charged off 1,308 1,292
Net purchases of premises and equipment (341) (342)
Net cash from acquisition activities (24) 0
Net cash from other investing activities (26) (377)
Net cash from investing activities (7,691) 5,059
Financing activities:    
Changes in deposits 945 41,234
Issuance of securitized debt obligations 0 1,248
Maturities and paydowns of securitized debt obligations (1,773) (3,593)
Issuance of senior and subordinated notes and long-term FHLB advances 0 3,987
Maturities and paydowns of senior and subordinated notes and long-term FHLB advances (2,085) (7,156)
Changes in other borrowings 161 (6,759)
Common stock:    
Net proceeds from issuances 120 121
Dividends paid (365) (368)
Preferred stock:    
Net proceeds from issuances 1,641 1,209
Dividends paid (121) (145)
Redemptions 0 (875)
Purchases of treasury stock (2,243) (388)
Proceeds from share-based payment activities 34 20
Net cash from financing activities (3,686) 28,535
Changes in cash, cash equivalents and restricted cash for securitization investors (5,683) 42,809
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period 40,771 13,749
Cash, cash equivalents and restricted cash for securitization investors, end of the period 35,088 56,558
Non-cash items:    
Net transfers from (to) loans held for investment to (from) loans held for sale 4,575 (36)
Interest paid 1,145 2,088
Income tax paid $ 1,013 $ 137