XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 393 $ 548 $ 688
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization (17) 112 262
Gain on sale of branch disposal group, net 0 (113) 0
Provision for credit losses 45 154 (570)
Deferred income tax provision 51 284 340
Net realized losses (gains) on securities available-for-sale 243 (26) (73)
Net change in other assets and liabilities 1,359 (1,044) 172
Net change in loans held for sale:      
Originations and purchases of loans held for sale (340) (1,932) (2,544)
Sales and collections of loans held for sale 320 1,791 2,699
Net change in trading assets and liabilities 297 2,093 867
Lower of amortized cost or fair value adjustments on loans held for sale 32 19 14
Loss (gain) on instruments designated at fair value and related derivatives 42 50 (35)
Net cash provided by operating activities 2,425 1,936 1,820
Cash flows from investing activities      
Net change in federal funds sold and securities purchased under agreements to resell 9,207 (12,571) 25,232
Securities available-for-sale:      
Purchases of securities available-for-sale (4,467) (4,997) (18,501)
Proceeds from sales of securities available-for-sale 1,642 1,812 10,324
Proceeds from paydowns and maturities of securities available-for-sale 4,988 5,992 12,030
Securities held-to-maturity:      
Purchases of securities held-to-maturity (8,592) (3,585) 0
Proceeds from paydowns and maturities of securities held-to-maturity 880 1,460 3,747
Change in loans:      
Originations, net of collections (1,368) (3,205) (618)
Loans sold to third parties 1,806 1,476 2,758
Net cash used for acquisitions of properties and equipment (29) (42) (3)
Cash received on transfer of certain precious metals trading and financing activities to an affiliate 10 0 0
Net outflow related to the sale of branch disposal group 0 (4,619) 0
Other, net (140) (17) 103
Net cash provided by (used in) investing activities 3,937 (18,296) 35,072
Cash flows from financing activities      
Net change in deposits (1,941) (12,534) (2,107)
Debt:      
Net change in short-term borrowings 3,969 (393) 1,386
Issuance of long-term debt 4,553 5,931 7,711
Repayment of long-term debt (4,448) (3,229) (10,044)
Preferred stock redemption 0 (1,000) 0
Return of capital to parent 0 (2,000) (1,000)
Other decreases in capital surplus (8) (2) (4)
Dividends paid (1,516) (77) (77)
Net cash provided by (used in) financing activities 609 (13,304) (4,135)
Net change in cash and due from banks and interest bearing deposits with banks 6,971 (29,664) 32,757
Cash and due from banks and interest bearing deposits with banks at beginning of period 18,748 48,412 15,655
Cash and due from banks and interest bearing deposits with banks at end of period 25,719 18,748 48,412
Supplemental disclosure of cash flow information      
Interest paid during the period 5,123 1,660 606
Net income taxes refunded during the period (108) (122) (52)
Supplemental disclosure of non-cash investing activities      
Transfer of loans to (from) held for sale, net   $ (29)  
Transfer of loans to (from) held for sale, net $ 1,820   $ 6,982