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CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 368 $ 291
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15 84
Gain on sale of branch disposal group, net 0 (111)
Provision for credit losses 56 80
Net realized gains on securities available-for-sale (3) (29)
Net change in other assets and liabilities 1,272 (795)
Net change in loans held for sale:    
Originations and purchases of loans held for sale (284) (1,097)
Sales and collections of loans held for sale 161 1,052
Net change in trading assets and liabilities 2,235 6,078
Lower of amortized cost or fair value adjustments on loans held for sale 37 6
Loss (gain) on instruments designated at fair value and related derivatives 20 (25)
Net cash provided by operating activities 3,877 5,534
Cash flows from investing activities    
Net change in federal funds sold and securities purchased under agreements to resell 10,566 5,573
Securities available-for-sale:    
Purchases of securities available-for-sale (2,092) (3,510)
Proceeds from sales of securities available-for-sale 681 1,002
Proceeds from paydowns and maturities of securities available-for-sale 2,625 3,066
Securities held-to-maturity:    
Purchases of securities held-to-maturity (6,479) (475)
Proceeds from paydowns and maturities of securities held-to-maturity 384 1,003
Change in loans:    
Collections, net of originations 478 (5,476)
Loans sold to third parties 435 1,136
Net cash provided by (used for) sales (acquisitions) of properties and equipment 6 (6)
Net outflow related to the sale of branch disposal group 0 (4,621)
Other, net 6 (16)
Net cash provided by (used in) investing activities 6,610 (2,324)
Cash flows from financing activities    
Net change in deposits (1,569) (8,580)
Debt:    
Net change in short-term borrowings 2,282 (440)
Issuance of long-term debt 2,909 2,844
Repayment of long-term debt (1,537) (1,884)
Other decreases in capital surplus (5) (5)
Dividends paid (1,008) (38)
Net cash provided by (used in) financing activities 1,072 (8,103)
Net change in cash and due from banks and interest bearing deposits with banks 11,559 (4,893)
Cash and due from banks and interest bearing deposits with banks at beginning of period 18,748 48,412
Cash and due from banks and interest bearing deposits with banks at end of period $ 30,307 $ 43,519