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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net income [1] $ 3,299 $ 3,704 $ 3,507
Adjustments to reconcile net income to net cash (used for) provided by operating activities:      
Share-based compensation [2] 204 183 197
Depreciation and amortization [2] 414 322 277
Amortization of acquired intangible assets [1] 190 27 29
Provision (benefit) for deferred income taxes [2] (138) 2 49
Premium amortization, net, on available for sale and held to maturity securities [2] 1,586 446 350
Other [2] 349 199 137
Net change in:      
Investments segregated and on deposit for regulatory purposes [2] (10,208) (977) 6,922
Receivables from brokerage clients [2] (14,609) (125) (1,100)
Other assets [2] 4 (709) (8)
Payables to brokerage clients [2] 22,909 6,494 1,483
Accrued expenses and other liabilities [2] 2,852 (241) 613
Net cash provided by (used for) operating activities [2] 6,852 9,325 12,456
Cash Flows from Investing Activities      
Purchases of available for sale securities [2] (202,171) (31,815) (32,801)
Proceeds from sales of available for sale securities [2] 4,801 24,495 115
Principal payments on available for sale securities [2] 63,247 21,616 16,016
Purchases of held to maturity securities [2] 0 (19,441) (40,873)
Principal payments on held to maturity securities [2] 0 19,606 17,410
Net change in bank loans [2] (5,675) (1,730) (129)
Cash acquired in acquisitions, net of cash paid [2] 14,748 0 0
Purchases of equipment, office facilities, and property [2] (631) (708) (570)
Purchases of Federal Home Loan Bank stock [2] (26) (27) (156)
Proceeds from sales of Federal Home Loan Bank stock [2] 32 24 529
Purchases of Federal Reserve stock [2] (191) 0 0
Other investing activities [2] 15 (56) (96)
Net cash provided by (used for) investing activities [2] (125,851) 11,964 (40,555)
Cash Flows from Financing Activities      
Net change in bank deposits [2] 137,928 (11,329) 61,767
Net change in short-term borrowings [2] 0 0 (15,000)
Issuance of long-term debt [2] 3,070 593 3,024
Repayment of long-term debt [2] (700) 0 (909)
Repurchases of common stock [2] 0 (2,220) (1,000)
Net proceeds from preferred stock offerings [2] 4,940 0 0
Dividends paid [2] (1,280) (1,060) (787)
Proceeds from stock options exercised [2] 79 118 125
Other financing activities [2] (55) (41) (54)
Net cash provided by (used for) financing activities [2] 143,982 (13,939) 47,166
Increase (Decrease) in Cash and Cash Equivalents, including Amounts Restricted [2] 24,983 7,350 19,067
Cash and Cash Equivalents, including Amounts Restricted at Beginning of Year [2] 45,577 [3] 38,227 [3] 19,160
Cash and Cash Equivalents, including Amounts Restricted at End of Year [2],[3] 70,560 45,577 38,227
Non-cash investing activity:      
Securities transferred from held to maturity to available for sale, at fair value 136,099 8,771 0
Additions of equipment, office facilities, and property 110 45 6
Acquisition of TD Ameritrade 21,758 0 0
Non-cash financing activity:      
Extinguishment of finance lease obligation through an assignment agreement 0 52 0
Cash paid during the period for:      
Interest 434 1,075 798
Income taxes 803 1,199 $ 927
Amounts included in the measurement of lease liabilities 163 133  
Leased assets obtained in exchange for new operating lease liabilities $ 160 $ 97  
[1] Certain prior year amounts have been reclassified to conform to the current year presentation. See Note 1 for additional information.
[2] Certain prior year amounts have been reclassified to conform to the current year presentation. See Note 1 for additional information.
[3] For more information on the nature of restrictions on restricted cash and cash equivalents, see Note 23.