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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net income $ 2,687 $ 1,944 $ 2,774
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income tax (benefit) 145 (184) (62)
Amortization of other intangible assets 230 239 238
Other non-cash adjustments for depreciation, amortization and accretion, net 375 643 918
Losses related to investment securities, net 79 294 2
Provision for credit losses 75 46 20
Change in trading account assets, net 5 (123) 108
Change in accrued interest and fees receivable, net (224) (359) (156)
Change in collateral deposits, net (12,109) (2,246) 7,821
Change in unrealized (gains) losses on foreign exchange derivatives, net (7,191) 2,146 (1,125)
Change in other assets, net 1,672 (1,839) 421
Change in accrued expenses and other liabilities, net 743 (128) 557
Other, net 303 257 438
Net cash (used in) provided by operating activities (13,210) 690 11,954
Investing Activities:      
Net (increase) decrease in interest-bearing deposits with banks (25,292) 13,928 4,765
Net decrease (increase) in securities purchased under resale agreements 13 (1,477) (2,203)
Proceeds from sales of available-for-sale securities 10,973 4,917 4,590
Proceeds from maturities of available-for-sale securities 18,517 15,703 17,254
Purchases of available-for-sale securities (44,301) (23,089) (18,029)
Proceeds from maturities of held-to-maturity securities 9,330 9,474 9,817
Purchases of held-to-maturity securities (5) (1,582) (8,564)
Sale of loans 246 506 1,786
Net increase in loans (7,369) (4,746) (1,667)
Business acquisitions, net of cash acquired (194) (61) 0
Purchases of equity investments and other long-term assets (143) (136) (250)
Purchases of premises and equipment, net (926) (816) (734)
Other, net (332) 117 51
Net cash (used in) provided by investing activities (39,483) 12,738 6,816
Financing Activities:      
Net (decrease) increase in time deposits (19) 2,820 1,673
Net increase (decrease) in all other deposits 40,971 (17,311) (21,244)
Net increase (decrease) in securities sold under repurchase agreements 1,814 690 (398)
Net increase in other short-term borrowings 6,180 1,563 1,969
Proceeds from issuance of long-term debt, net of issuance costs 6,523 6,221 3,731
Payments for long-term debt and obligations under finance leases (2,046) (2,545) (1,567)
Payments for redemption of preferred stock (1,500) 0 0
Proceeds from issuance of preferred stock, net of issuance costs 2,323 0 0
Repurchases of common stock (1,319) (3,781) (1,500)
Repurchases of common stock for employee tax withholding (83) (95) (123)
Payments for cash dividends (1,033) (970) (972)
Other, net (20) 57 0
Net cash provided by (used in) financing activities 51,791 (13,351) (18,431)
Net (decrease) increase (902) 77 339
Cash and due from banks at beginning of period 4,047 3,970 3,631
Cash and due from banks at end of period 3,145 4,047 3,970
Supplemental disclosure:      
Interest paid 8,951 6,184 1,354
Income taxes paid, net $ 451 $ 423 $ 436