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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net Income $ 1,819 $ 1,709
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 460 383
Depreciation, amortization and accretion 347 324
Stock-based compensation expense 141 137
Benefit from deferred income taxes (117) (19)
Securities (gains) losses, net (6) 90
MSR fair value adjustment 6 (217)
Net gains on sales of loans and fair value adjustments on loans held for sale (20) (77)
Net gains on disposition and impairment of bank premises and equipment and operating lease equipment (4) (6)
Proceeds from sales of loans held for sale 3,934 10,328
Loans originated or purchased for sale, net of repayments (3,464) (8,380)
Dividends representing return on equity investments 35 32
Net change in:    
Equity and trading debt securities (129) 66
Other assets (577) 507
Accrued taxes, interest and expenses and other liabilities 12 (522)
Net Cash Provided by Operating Activities 2,437 4,355
Proceeds from sales:    
AFS securities and other investments 2,718 4,242
Loans and leases 197 155
Bank premises and equipment 3 1
Proceeds from repayments / maturities of AFS and HTM securities and other investments 3,214 3,770
Purchases:    
AFS securities and other investments (4,795) (28,521)
Bank premises and equipment (365) (240)
MSRs (25) (208)
Proceeds from settlement of BOLI 12 37
Proceeds from sales and dividends representing return of equity investments 64 61
Net cash received for divestitures 0 46
Net cash paid on acquisitions 0 (917)
Net change in:    
Other short-term investments (10,572) 27,981
Portfolio loans and leases 829 (7,425)
Operating lease equipment 65 (79)
Net Cash Used in Investing Activities (8,655) (1,097)
Financing Activities    
Net change in deposits 3,982 (8,033)
Net change in other short-term borrowings and federal funds purchased (133) 5,329
Dividends paid on common and preferred stock (784) (700)
Proceeds from long-term debt issuances/advances 4,283 2,003
Repayment of long-term debt (1,507) (1,702)
Repurchases of treasury stock and related forward contract (200) 0
Other (52) (81)
Net Cash Provided by (Used in) Financing Activities 5,589 (3,184)
(Decrease) Increase in Cash and Due from Banks (629) 74
Cash and Due from Banks at Beginning of Period 3,466 2,994
Cash and Due from Banks at End of Period $ 2,837 $ 3,068