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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 1,010 $ 857 $ 452
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for credit losses (310) 503 45
Deferred income tax expense (benefit) 0 (18) 14
Depreciation and amortization of premises and equipment 61 52 44
Amortization of intangible assets 56 40 25
Net other amortization and accretion (67) (30) (3)
Net (increase) decrease in trading securities 1,824 1,912 1,423
Net (increase) decrease in derivatives 412 (223) (134)
Purchase accounting gain 1 (533) 0
Stock-based compensation expense 43 32 22
Securities (gains) losses, net (13) 6 0
Loss on debt extinguishment 26 0 0
Net (gains) losses on sale/disposal of fixed assets 29 8 22
(Gain) loss on BOLI (8) (5) (5)
Loans held for sale:      
Purchases and originations (6,644) (4,710) (2,075)
Gross proceeds from settlements and sales 4,451 2,907 818
(Gain) loss due to fair value adjustments and other (205) (81) (7)
Other operating activities, net 75 (545) 189
Total adjustments (269) (685) 378
Net cash provided by (used in) operating activities 741 172 830
Investing Activities      
Proceeds from sales of securities available for sale 68 629 192
Proceeds from maturities of securities available for sale 2,771 4,099 800
Purchases of securities available for sale (3,736) (4,740) (630)
Purchases of securities held to maturity (720) 0 0
Proceeds from prepayments of securities held to maturity 17 0 0
Proceeds from sales of premises and equipment 42 12 20
Purchases of premises and equipment (53) (58) (49)
Proceeds from sales and pay downs of loans classified as held to maturity 0 0 20
Proceeds from BOLI 22 12 14
Net (increase) decrease in loans and leases 3,509 (819) (3,570)
Net (increase) decrease in interest-bearing deposits with banks (6,556) (6,187) 795
Cash (paid) received for acquisitions, net 0 2,071 0
Other investing activities, net 19 14 18
Net cash provided by (used in) investing activities (4,617) (4,967) (2,390)
Common stock:      
Stock options exercised 28 7 9
Cash dividends paid (333) (222) (171)
Repurchase of shares (416) (4) (134)
Cancellation of common shares 0 (7) 0
Preferred stock issuance 145 144 0
Call of preferred stock (100) 0 0
Cash dividends paid - preferred stock - noncontrolling interest (11) (12) (11)
Cash dividends paid - preferred stock (33) (17) (6)
Net increase (decrease) in deposits 4,919 7,143 (253)
Net increase (decrease) in short-term borrowings (75) (1,529) 2,384
Increases (decreases) in term borrowings (108) (327) (396)
Net cash provided by (used in) financing activities 4,016 5,176 1,422
Net increase (decrease) in cash and cash equivalents 140 381 (138)
Cash and cash equivalents at beginning of period 1,648 1,267 1,405
Cash and cash equivalents at end of period 1,788 1,648 1,267
Supplemental Disclosures      
Total interest paid 170 261 411
Total taxes paid 258 105 71
Total taxes refunded 30 36 28
Transfer from loans to OREO 4 2 9
Transfer from loans HFS to trading securities 2,232 1,742 1,321
Transfer from loans to loans HFS $ 31 $ 9 $ 31