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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net Income $ 2,349 $ 2,446 $ 2,770
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for (benefit from) credit losses 515 563 (377)
Depreciation, amortization and accretion 462 436 349
Stock-based compensation expense 169 165 120
Benefit from deferred income taxes (106) (60) (14)
Securities (gains) losses, net (31) 84 16
MSR fair value adjustment 105 (177) 139
Net gains on sales of loans and fair value adjustments on loans held for sale (27) (126) (335)
Net (gains) losses on disposition and impairment of bank premises and equipment and operating lease equipment (7) (1) 10
Gain on sale of HSA deposit portfolio 0 0 (60)
Gain on the TRA associated with Worldpay, Inc. (22) (46) (46)
Proceeds from sales of loans held for sale 4,938 13,123 17,204
Loans originated or purchased for sale, net of repayments (4,242) (10,239) (16,888)
Dividends representing return on equity method investments 46 50 55
Net change in:      
Equity and trading debt securities (128) 70 15
Other assets 326 646 (37)
Accrued taxes, interest and expenses and other liabilities 162 (506) (217)
Net Cash Provided by Operating Activities 4,509 6,428 2,704
Proceeds from sales:      
AFS securities and other investments 2,813 4,359 3,125
Loans and leases 444 155 718
Bank premises and equipment 7 2 19
Proceeds from repayments / maturities of AFS and HTM securities and other investments 4,235 4,495 6,079
Purchases:      
AFS securities, equity method investments and other investments (6,244) (29,714) (11,713)
Bank premises and equipment (491) (348) (309)
MSRs (25) (213) (381)
Proceeds from settlement of BOLI 14 49 24
Proceeds from sales and dividends representing return of equity method investments 69 87 63
Net cash received for divestitures 0 66 0
Net cash paid on acquisitions 0 (917) (297)
Net cash paid on sale of HSA deposit portfolio 0 0 (431)
Net change in:      
Other short-term investments (13,731) 26,224 (1,172)
Portfolio loans and leases 3,358 (8,992) (3,721)
Operating lease equipment 63 (124) 28
Net Cash Used in Investing Activities (9,488) (4,871) (7,968)
Financing Activities      
Net change in deposits 5,222 (5,994) 10,734
Net change in other short-term borrowings and federal funds purchased (1,881) 3,757 (193)
Dividends paid on common and preferred stock (1,060) (927) (897)
Proceeds from long-term debt issuances/advances 4,286 4,026 562
Repayment of long-term debt (1,657) (1,762) (3,603)
Repurchase of treasury stock and related forward contract (200) (100) (1,393)
Other (55) (85) (99)
Net Cash Provided by (Used in) Financing Activities 4,655 (1,085) 5,111
(Decrease) Increase in Cash and Due from Banks (324) 472 (153)
Cash and Due from Banks at Beginning of Period 3,466 2,994 3,147
Cash and Due from Banks at End of Period $ 3,142 $ 3,466 $ 2,994