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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Income from continuing operations, net of tax $ 2,403 $ 3,327
Income (loss) from discontinued operations, net of tax 0 (2)
Net income (loss) 2,403 3,325
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Amounts expected to become due from (to) partners which reduced (increased) provision for credit losses 677 (823)
Depreciation and amortization, net 839 855
Deferred tax provision 187 345
Net securities losses (gains) (1) (4)
Gain on sales of loans (186) (5)
Stock-based compensation expense 107 119
Other (including (gains) and losses from equity investments) 16 66
Loans held for sale:    
Originations and purchases (1,923) (1,914)
Proceeds from sales and paydowns 2,036 1,651
Changes in operating assets and liabilities:    
Changes in interest receivable (19) 91
Changes in other assets (4,716) (1,570)
Changes in interest payable (20) (64)
Changes in other liabilities 521 (435)
Net change from discontinued operations 0 (1)
Net cash from (used in) operating activities (79) 1,636
Securities available for sale:    
Purchases (3,828) (7,881)
Proceeds from paydowns and maturities 4,898 7,015
Proceeds from Sale of Debt Securities, Available-for-sale 470 595
Loans:    
Net changes in loans originated as held for investment 104 7,055
Principal recoveries of loans previously charged off 554 614
Net purchases of premises and equipment (230) (178)
Net cash from other investing activities (195) 52
Net cash from investing activities 1,773 7,272
Financing activities:    
Changes in deposits 2,561 4,938
Issuance of securitized debt obligations 2,244 0
Maturities and paydowns of securitized debt obligations (3,198) (271)
Issuance of senior and subordinated notes and long-term FHLB advances 3,041 0
Maturities and paydowns of senior and subordinated notes and long-term FHLB advances (2,357) (1,500)
Changes in other borrowings 3,769 169
Common stock:    
Net proceeds from issuances 68 60
Dividends paid (251) (184)
Preferred stock:    
Dividends paid (57) (61)
Purchases of treasury stock (2,484) (575)
Proceeds from share-based payment activities 1 19
Net cash from financing activities 3,337 2,595
Changes in cash, cash equivalents and restricted cash for securitization investors 5,031 11,503
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period 22,054 40,771
Cash, cash equivalents and restricted cash for securitization investors, end of the period 27,085 52,274
Non-cash items:    
Net transfers from (to) loans held for investment to (from) loans held for sale 146 160
Interest paid 509 637
Income tax paid $ 80 $ 111