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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net Income $ 694 $ 46
Adjustments to reconcile net income to net cash provided by operating activities:    
(Benefit from) provision for credit losses (173) 640
Depreciation, amortization and accretion 122 118
Stock-based compensation expense 55 53
Benefit from deferred income taxes (186) (3)
Securities losses, net 1 23
MSR fair value adjustment (71) 378
Net gains on sales of loans and fair value adjustments on loans held for sale (48) (91)
Net losses on disposition and impairment of bank premises and equipment 0 3
Net losses (gains) on disposition and impairment of operating lease equipment 23 (6)
Proceeds from sales of loans held for sale 3,557 3,072
Loans originated or purchased for sale, net of repayments (4,174) (3,239)
Dividends representing return on equity investments 8 3
Net change in:    
Equity and trading debt securities (155) (54)
Other assets 265 (192)
Accrued taxes, interest and expenses and other liabilities (284) (318)
Net Cash (Used in) Provided by Operating Activities (366) 433
Proceeds from sales:    
AFS securities and other investments 453 800
Loans and leases 155 46
Bank premises and equipment 12 6
Proceeds from repayments / maturities of AFS and HTM securities and other investments 1,341 564
Purchases:    
AFS securities and other investments (3,092) (2,570)
Bank premises and equipment (60) (74)
MSRs (18) (26)
Proceeds from settlement of BOLI 11 2
Proceeds from sales and dividends representing return of equity investments 16 4
Net change in:    
Other short-term investments (788) (4,369)
Portfolio loans and leases (355) (8,567)
Operating lease equipment 3 3
Net Cash Used in Investing Activities (2,322) (14,181)
Financing Activities    
Net change in deposits 3,312 7,999
Net change in other short-term borrowings and federal funds purchased (82) 4,896
Dividends paid on common and preferred stock (215) (190)
Proceeds from issuance of long-term debt 25 1,260
Repayment of long-term debt (131) (180)
Repurchases of treasury stock and related forward contract (180) 0
Other (66) (33)
Net Cash Provided by Financing Activities 2,663 13,752
(Decrease) Increase in Cash and Due from Banks (25) 4
Cash and Due from Banks at Beginning of Period 3,147 3,278
Cash and Due from Banks at End of Period $ 3,122 $ 3,282