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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net Income $ 1,159 $ 1,056
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 341 224
Depreciation, amortization and accretion 232 218
Stock-based compensation expense 111 107
(Benefit from) provision for deferred income taxes (127) 6
Securities (gains) losses, net (11) 52
MSR fair value adjustment 40 (169)
Net gains on sales of loans and fair value adjustments on loans held for sale (18) (68)
Net gains on disposition and impairment of bank premises and equipment and operating lease equipment (1) (4)
Proceeds from sales of loans held for sale 2,557 6,463
Loans originated or purchased for sale, net of repayments (2,289) (5,022)
Dividends representing return on equity investments 26 17
Net change in:    
Equity and trading debt securities (121) 215
Other assets 82 357
Accrued taxes, interest and expenses and other liabilities (180) (807)
Net Cash Provided by Operating Activities 1,801 2,645
Proceeds from sales:    
AFS securities and other investments 2,469 3,259
Loans and leases 41 94
Bank premises and equipment 3 1
Proceeds from repayments / maturities of AFS and HTM securities and other investments 2,084 2,776
Purchases:    
AFS securities and other investments (3,167) (25,335)
Bank premises and equipment (248) (143)
MSRs (23) (191)
Proceeds from settlement of BOLI 9 31
Proceeds from sales and dividends representing return of equity investments 60 45
Net cash received for divestitures 0 46
Net cash paid on acquisitions 0 (918)
Net change in:    
Other short-term investments (2,592) 27,156
Portfolio loans and leases (630) (6,155)
Operating lease equipment 32 (39)
Net Cash (Used in) Provided by Investing Activities (1,962) 627
Financing Activities    
Net change in deposits 438 (8,151)
Net change in other short-term borrowings and federal funds purchased 1,058 6,507
Dividends paid on common and preferred stock (559) (472)
Proceeds from issuance of long-term debt 35 1,007
Repayment of long-term debt (1,433) (1,642)
Repurchases of treasury stock and related forward contract (200) 0
Other (50) (78)
Net Cash Used in Financing Activities (711) (2,829)
(Decrease) Increase in Cash and Due from Banks (872) 443
Cash and Due from Banks at Beginning of Period 3,466 2,994
Cash and Due from Banks at End of Period $ 2,594 $ 3,437