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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net Income $ 520 $ 558
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 94 164
Depreciation, amortization and accretion 128 117
Stock-based compensation expense 64 76
Benefit from deferred income taxes (35) (42)
Securities gains, net (12) (5)
MSR fair value adjustment (8) 53
Net gains on sales of loans and fair value adjustments on loans held for sale (3) (18)
Net gains on disposition and impairment of bank premises and equipment and operating lease equipment 0 (1)
Proceeds from sales of loans held for sale 742 1,335
Loans originated or purchased for sale, net of repayments (714) (1,071)
Dividends representing return on equity method investments 9 16
Net change in:    
Equity and trading debt securities (14) (133)
Other assets (265) 514
Accrued taxes, interest and expenses and other liabilities (120) (242)
Net Cash Provided by Operating Activities 386 1,321
Proceeds from sales:    
AFS securities and other investments 64 2,054
Loans and leases 121 0
Bank premises and equipment 15 3
Proceeds from repayments / maturities of AFS and HTM securities and other investments 1,238 608
Purchases:    
AFS securities, equity method investments and other investments (1,398) (2,045)
Bank premises and equipment (65) (113)
MSRs 0 (16)
Proceeds from settlement of BOLI 11 8
Proceeds from sales and dividends representing return of equity method investments 2 14
Net cash received for divestitures 6 0
Net change in:    
Other short-term investments (758) (1,443)
Portfolio loans and leases 526 (1,452)
Operating lease equipment 9 19
Net Cash Used in Investing Activities (229) (2,363)
Financing Activities    
Net change in deposits 675 (715)
Net change in other short-term borrowings and federal funds purchased 56 2,523
Dividends paid on common and preferred stock (287) (294)
Proceeds from long-term debt issuances/advances 1,495 6
Repayment of long-term debt (2,400) (917)
Repurchases of treasury stock and related forward contract 0 (200)
Other (42) (47)
Net Cash (Used in) Provided by Financing Activities (503) 356
Decrease in Cash and Due from Banks (346) (686)
Cash and Due from Banks at Beginning of Period 3,142 3,466
Cash and Due from Banks at End of Period $ 2,796 $ 2,780