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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 198 $ 236
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses (40) (45)
Deferred income tax expense (benefit) 38 (3)
Depreciation and amortization of premises and equipment 15 16
Amortization of intangible assets 13 14
Net other amortization and accretion (10) (14)
Net (increase) decrease in trading securities 514 598
Net (increase) decrease in derivatives 395 322
Stock-based compensation expense 14 10
Securities (gains) losses, net (6) 0
Net (gains) losses on sale/disposal of fixed assets 0 34
Loans held for sale:    
Purchases and originations (1,511) (943)
Gross proceeds from settlements and sales 920 683
(Gain) loss due to fair value adjustments and other 13 (35)
Other operating activities, net 141 191
Total adjustments 496 828
Net cash provided by (used in) operating activities 694 1,064
Investing Activities    
Proceeds from sales of securities available for sale 0 26
Proceeds from maturities of securities available for sale 408 591
Purchases of securities available for sale (1,492) (1,065)
Proceeds from prepayments of securities held to maturity 11 0
Proceeds from sales of premises and equipment 4 1
Purchases of premises and equipment (10) (10)
Proceeds from BOLI 6 1
Net (increase) decrease in loans and leases (134) (338)
Net (increase) decrease in interest-bearing deposits with banks 1,359 (3,284)
Other investing activities, net 2 6
Net cash provided by (used in) investing activities 154 (4,072)
Common stock:    
Stock options exercised 15 12
Cash dividends paid (82) (84)
Repurchase of shares (2) (62)
Preferred stock:    
Preferred stock issuance 494 0
Cash dividends paid - preferred stock - noncontrolling interest (3) (3)
Cash dividends paid - preferred stock (8) (8)
Net increase (decrease) in deposits (781) 3,190
Net increase (decrease) in short-term borrowings (405) 4
Increases (decreases) in term borrowings 1 0
Net cash provided by (used in) financing activities (771) 3,049
Net increase (decrease) in cash and cash equivalents 77 41
Cash and cash equivalents at beginning of period 1,788 1,648
Cash and cash equivalents at end of period 1,865 1,689
Supplemental Disclosures    
Total interest paid 19 39
Total taxes paid 2 2
Total taxes refunded 1 4
Transfer from loans HFS to trading securities 736 498
Transfer from loans to loans HFS $ 0 $ 3