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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net Income $ 1,427 $ 2,512 $ 2,193
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 1,097 471 207
Depreciation, amortization and accretion 492 472 360
Stock-based compensation expense 123 132 127
(Benefit from) provision for deferred income taxes (162) (246) 30
Securities (gains) losses, net (69) (50) 69
MSR fair value adjustment 565 376 83
Net gains on sales of loans and fair value adjustments on loans held for sale (291) (137) (71)
Net losses on disposition and impairment of bank premises and equipment 31 23 43
Net (gains) losses on disposition and impairment of operating lease equipment (5) 1 (6)
Gain related to Vantiv, Inc.’s acquisition of Worldpay Group plc. 0 0 (414)
Gain on sale of Worldpay, Inc. shares 0 (562) (205)
Gain on the TRA associated with Worldpay, Inc. (74) (346) (20)
Proceeds from sales of loans held for sale 12,481 8,157 5,199
Loans originated or purchased for sale, net of repayments (14,767) (8,896) (5,378)
Dividends representing return on equity investments 17 66 12
Net change in:      
Equity and trading debt securities 12 (29) 132
Other assets (855) 20 303
Accrued taxes, interest and expenses and other liabilities 349 (140) 192
Net Cash Provided by Operating Activities 371 1,824 2,856
Proceeds from sales:      
AFS securities and other investments 1,743 10,596 12,430
Loans and leases 157 259 305
Bank premises and equipment 33 90 57
Proceeds from repayments / maturities of AFS and HTM securities and other investments 3,646 2,271 1,851
Purchases:      
AFS securities and other investments (5,266) (13,959) (16,207)
Bank premises and equipment (305) (243) (192)
MSRs (44) (26) (82)
Proceeds from settlement of BOLI 19 28 16
Proceeds from sales and dividends representing return of equity investments 69 1,057 604
Net cash (paid) received for acquisitions and divestitures (4) 1,210 (43)
Net change in:      
Other short-term investments and federal funds sold (31,446) (612) 928
Portfolio loans and leases (451) (1,407) (3,866)
Operating lease equipment (53) (61) 58
Net Cash Used in Investing Activities (31,902) (797) (4,141)
Financing Activities      
Net change in deposits 32,019 3,742 5,673
Net change in other short-term borrowings and federal funds purchased 182 (1,494) (1,688)
Dividends paid on common and preferred stock (858) (753) (565)
Proceeds from issuance of long-term debt 2,557 3,866 2,438
Repayment of long-term debt (2,799) (4,212) (2,884)
Repurchase of treasury stock and related forward contract 0 (1,763) (1,453)
Issuance of preferred stock 346 242 0
Other (47) (58) (69)
Net Cash Provided by (Used in) Financing Activities 31,400 (430) 1,452
(Decrease) Increase in Cash and Due from Banks (131) 597 167
Cash and Due from Banks at Beginning of Period 3,278 2,681 2,514
Cash and Due from Banks at End of Period $ 3,147 $ 3,278 $ 2,681