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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net income [1] $ 5,067 $ 7,183 $ 5,855
Adjustments to reconcile net income to net cash provided by (used for) operating activities:      
Share-based compensation [1] 320 366 254
Depreciation and amortization [1] 804 652 549
Amortization of acquired intangible assets [1] 534 596 615
Provision (benefit) for deferred income taxes [1] (478) (18) 53
Premium amortization, net, on available for sale and held to maturity securities [1] 830 1,375 2,346
Other [1] 702 490 372
Net change in:      
Investments segregated and on deposit for regulatory purposes [1] 23,759 (874) (3,398)
Receivables from brokerage clients [1] (2,135) 23,947 (26,168)
Other assets [1] (2,020) 99 (1,152)
Payables to brokerage clients [1] (12,652) (28,233) 21,470
Accrued expenses and other liabilities [1] 4,856 (3,526) 1,322
Net cash provided by (used for) operating activities [1] 19,587 2,057 2,118
Cash Flows from Investing Activities      
Purchases of available for sale securities [1] (1,487) (51,009) (171,732)
Proceeds from sales of available for sale securities [1] 8,465 24,704 13,306
Principal payments on available for sale securities [1] 36,508 49,944 94,912
Principal payments on held to maturity securities [1] 15,461 15,712 0
Net change in bank loans [1] 99 (5,788) (10,845)
Purchases of equipment, office facilities, and property [1] (700) (971) (916)
Purchases of FHLB stock [1] (1,869) (518) 0
Proceeds from sales of FHLB stock [1] 1,344 19 0
Purchases of Federal Reserve stock [1] (221) (106) (245)
Proceeds from sales of Federal Reserve stock [1] 98 197 0
Other investing activities [1] (287) (136) (143)
Net cash provided by (used for) investing activities [1] 57,411 32,048 (75,663)
Cash Flows from Financing Activities      
Net change in bank deposits [1] (76,771) (77,054) 85,756
Proceeds from FHLB borrowings [1] 49,200 12,504 0
Repayments of FHLB borrowings [1] (35,200) (104) 0
Proceeds from other short-term borrowings [1] 17,000 20,891 11,107
Repayments of other short-term borrowings [1] (15,104) (21,100) (6,255)
Issuances of long-term debt [1] 6,097 2,971 7,036
Repayments of long-term debt [1] (831) (1,036) (1,822)
Repurchases of common stock and nonvoting common stock [1] (2,842) (3,395) 0
Issuance of preferred stock, net [1] 0 740 2,806
Redemption and repurchase of preferred stock [1] (467) (1,000) (600)
Dividends paid [1] (2,276) (2,110) (1,822)
Proceeds from stock options exercised [1] 49 64 221
Other financing activities [1] (100) (94) (104)
Net cash provided by (used for) financing activities [1] (61,245) (68,723) 96,323
Increase (Decrease) in Cash and Cash Equivalents, including Amounts Restricted [1] 15,753 (34,618) 22,778
Cash and Cash Equivalents, including Amounts Restricted at Beginning of Year [1] 58,720 [2] 93,338 [2] 70,560
Cash and Cash Equivalents, including Amounts Restricted at End of Year [1],[2] 74,473 58,720 93,338
Non-cash investing activity:      
Securities transferred from available for sale to held to maturity, at fair value [1] 0 188,555 0
Changes in accrued equipment, office facilities, and property purchases [1] 104 (19) 125
Non-cash financing activity:      
Common stock repurchased during the period but settled after period end [1] 0 40 0
Cash paid during the period for:      
Interest [1] 5,623 1,355 501
Income taxes [1] 1,620 2,130 2,053
Amounts included in the measurement of lease liabilities [1] 255 228 212
Leased assets obtained in exchange for new operating lease liabilities [1] 118 274 89
Leased assets obtained in exchange for new finance lease liabilities [1] $ 48 $ 4 $ 109
[1] Certain prior year amounts have been reclassified to conform to the current year presentation. See Note 1 for additional information.
[2] For more information on the nature of restrictions on restricted cash and cash equivalents, see Note 23.