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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 153 $ 204
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 13 45
Depreciation and amortization 32 36
Share-based compensation 16 17
Deferred income tax expense 22 6
Net decrease (increase) in trading securities (11) 77
Net decrease in loans held for sale 41 7
Change in other liabilities (77) (529)
Change in other assets 76 362
Other, net (4) (4)
Net cash provided by operating activities 261 221
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease (increase) in money market investments (157) 727
Proceeds from maturities and paydowns of investment securities held-to-maturity 232 237
Purchases of investment securities held-to-maturity 0 (10)
Proceeds from sales, maturities, and paydowns of investment securities available-for-sale 480 583
Purchases of investment securities available-for-sale (182) (138)
Net change in loans and leases (321) (738)
Purchases and sales of other noninterest-bearing investments 25 (37)
Purchases of premises and equipment (30) (31)
Other, net 6 (2)
Net cash provided by investing activities 53 591
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in deposits (724) (2,445)
Net change in short-term borrowed funds 516 1,707
Proceeds from the issuance of common stock 0 2
Dividends paid on common and preferred stock (71) (69)
Bank common stock repurchased (35) (50)
Other, net (7) (7)
Net cash used in financing activities (321) (862)
Net decrease in cash and due from banks (7) (50)
Cash and due from banks at beginning of period 716 657
Cash and due from banks at end of period 709 607
Cash paid for interest 491 224
Net cash paid for income taxes 0 0
Noncash activities:    
Loans held for investment reclassified to loans held for sale, net $ 12 $ 47