XML 76 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows - operating activities    
Net earnings $ 286 $ 1,107
Adjustments to reconcile net earnings to cash provided from operating activities    
Provision for credit losses 1,677 [1] 859 [2]
Deferred income taxes (109) 145
Depreciation and amortization 96 87
(Increase) decrease in interest and fees receivable (41) 80
(Increase) decrease in other assets (71) 118
Increase (decrease) in accrued expenses and other liabilities (481) (251)
All other operating activities 180 144
Cash provided from (used for) operating activities 1,537 2,289
Cash flows - investing activities    
Maturity and sales of debt securities 1,175 2,214
Purchases of debt securities (1,382) (1,963)
Proceeds from sale of loan receivables 709 0
Net (increase) decrease in loan receivables, including held for sale 3,464 3,760
All other investing activities (79) (201)
Cash provided from (used for) investing activities 3,887 3,810
Borrowings of consolidated securitization entities    
Proceeds from issuance of securitized debt 500 1,498
Maturities and repayment of securitized debt (1,623) (3,847)
Senior unsecured notes    
Proceeds from issuance of senior unsecured notes 0 1,240
Maturities and repayment of senior unsecured notes (1,500) (1,000)
Dividends paid on preferred stock (11) 0
Net increase (decrease) in deposits (528) 36
Purchases of treasury stock (985) (967)
Dividends paid on common stock (135) (150)
All other financing activities (5) 8
Cash provided from (used for) financing activities (4,287) (3,182)
Increase (decrease) in cash and equivalents, including restricted amounts 1,137 2,917
Cash and equivalents, including restricted amounts, at beginning of period 12,647 10,376
Cash and equivalents 13,704 12,963
Restricted cash and equivalents included in other assets 80 330
Total cash and equivalents, including restricted amounts, at end of period $ 13,784 $ 13,293
[1]
The allowance for credit losses at March 31, 2020 reflects our estimate of expected credit losses for the life of the loan receivables on our condensed consolidated statement of financial position at March 31, 2020, which includes the consideration of current and expected macroeconomic conditions that existed at that date.
[2]
Comparative information is presented in accordance with applicable accounting standards in effect prior to the adoption of ASU 2016-13.