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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income $ 678 $ 59 [1]
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (317) 549
Provision (benefit) for deferred income taxes 69 (92)
Depreciation and amortization 51 55
Net periodic defined benefit credit (41) (27)
Share-based compensation expense 29 12
Net amortization of securities 16 1
Net change in accrued income receivable 1 43
Net change in accrued expenses payable 31 (64)
Other, net (514) 208
Net cash provided by operating activities 3 744
INVESTING ACTIVITIES    
Maturities and redemptions of investments securities available-for-sale 2,819 1,311
Purchases of investment securities available-for-sale (3,828) (1,387)
Net change in loans 2,616 (3,229)
Proceeds from sales of foreclosed property 8 1
Net increase in premises and equipment (35) (29)
Purchases of Federal Home Loan Bank stock 0 (51)
Redemptions of Federal Home Loan Bank stock 115 30
Proceeds from bank-owned life insurance settlements 6 10
Other, net (12) 0
Net cash provided by (used in) investing activities 1,689 (3,344)
FINANCING ACTIVITIES    
Net change in deposits 2,481 10,327
Net change in short-term borrowings 0 681
Maturities and redemptions of medium- and long-term debt (2,800) (925)
Issuance of preferred stock 0 395
Preferred stock cash dividends paid (11) 0
Repurchases of common stock (459) (199)
Cash dividends paid on common stock (190) (191)
Issuances of common stock under employee stock plans 18 5
Other, net 3 0
Net cash (used in) provided by financing activities (958) 10,093
Net increase in cash and cash equivalents 734 7,493
Cash and cash equivalents at beginning of period 15,767 5,818
Cash and cash equivalents at end of period 16,501 13,311
Interest paid 30 152
Income taxes paid $ 96 $ 77
[1] See Defined Benefit Pension and Other Postretirement Costs in Note 1.