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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income (loss) $ (529) $ (431) $ 523
Income (loss) from discontinued operations 27 (37) (24)
Income (loss) from continuing operations (556) (394) 547
Adjustments to reconcile income (loss) from continuing operations to net cash used in operating activities:      
Provision for credit losses 621 [1] 250 [1] (365)
Lower of amortized cost or fair value adjustment on receivables held for sale 212 130 (201)
Gain on sale of real estate secured receivables (633) (12) (63)
(Gain) loss on sale of real estate owned, including lower of amortized cost or fair value adjustments (3) 2 (20)
Provision for securities litigation liability 575 700 0
Depreciation and amortization 2 7 9
Mark-to-market on debt designated at fair value and related derivatives (4) (18) 59
Foreign exchange and derivative movements on long-term debt and net change in non-fair value option related derivative assets and liabilities (104) (359) (799)
Deferred income tax (benefit) provision 20 (527) 116
Net change in other assets (218) 150 391
Net change in other liabilities (1,750) (93) (136)
Other, net 29 204 68
Cash provided by (used in) operating activities – continuing operations (1,809) 40 (394)
Cash provided by (used in) operating activities – discontinued operations (71) 24 41
Cash provided by (used in) operating activities (1,880) 64 (353)
Cash flows from investing activities      
Net change in securities purchased under agreements to resell 332 1,140 3,060
Net change in interest bearing deposits with banks (1,500) 2,000 (2,000)
Receivables:      
Net collections 1,620 2,142 2,046
Proceeds from sales of receivables 9,663 2,022 2,242
Proceeds from sales of real estate owned 121 199 442
Sales of properties and equipment, net 1 53 0
Cash provided by investing activities – continuing operations 10,237 7,556 5,790
Cash provided by investing activities – discontinued operations 44 14 0
Cash provided by investing activities 10,281 7,570 5,790
Debt:      
Net change in due to affiliates (2,614) (1,004) (1,813)
Long-term debt retired (5,107) (6,546) (3,524)
Redemption of preferred stock (575) 0 0
Dividends (106) (123) (123)
Cash used in financing activities – continuing operations (8,402) (7,673) (5,460)
Cash used in financing activities – discontinued operations 0 0 0
Cash used in financing activities (8,402) (7,673) (5,460)
Net change in cash (1) (39) (23)
Cash at beginning of period [2] 136 [3] 175 [3] 198
Cash at end of period [3] 135 136 [2] 175 [2]
Supplemental Cash Flow Information:      
Interest paid 608 939 1,099
Income taxes paid during period 86 37 32
Income taxes refunded during period 30 2 278
Supplemental Noncash Investing and Capital Activities:      
Fair value of properties added to real estate owned 62 131 258
Transfer of receivables to held for sale $ 7,574 $ 10,327 $ 909
[1] The provision for credit losses and charge-offs for real estate secured receivables during the year ended December 31, 2016 includes $576 million related to the initial lower of amortized cost or fair value adjustment attributable to credit factors for receivables transferred to held for sale. For the year ended December 31, 2015, the provision for credit losses and charge-offs included $234 million related to the initial lower of amortized cost or fair value adjustment attributable to credit factors for receivables transferred to held for sale. See Note 7, "Receivables Held for Sale," for additional information. During the year ended December 31, 2016, net charge-offs dollars were impacted by an out of period adjustment which decreased net charge-offs by $12 million in order to properly reflect charge-offs for receivables which received a partial forgiveness of principal as a result of an account modification in prior periods. The provision for credit losses for real estate secured receivables during the year ended December 31, 2015 was impacted by a release of approximately $19 million associated with a correction to our credit loss reserve calculation for a segment of our portfolio.
[2] Cash at beginning of period includes $12 million, $18 million and $23 million for discontinued operations at January 1, 2016, 2015 and 2014, respectively.
[3] Cash at end of period includes $7 million, $12 million and $18 million for discontinued operations at December 31, 2016, 2015 and 2014, respectively.