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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income (loss) $ 981 $ 1,351
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 128 (315)
Depreciation and amortization expense, net 74 21
Accretion of acquired loans 16 13
Increase in cash surrender value of corporate-owned life insurance (54) (54)
Stock-based compensation expense 59 52
Deferred income taxes (benefit) 99 196
Proceeds from sales of loans held for sale 6,855 7,629
Originations of loans held for sale, net of repayments (5,414) (7,494)
Net losses (gains) on sales of loans held for sale (81) (120)
Net losses (gains) on leased equipment (1) (6)
Net losses (gains) on sales of fixed assets (4) 7
Net decrease (increase) in trading account assets (108) (116)
Net transfers of loans held for sale 0 26
Other operating activities, net (1,747) (942)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 803 248
INVESTING ACTIVITIES    
Purchases of intangibles assets via acquisitions (12) 0
Cash received (used) in acquisitions, net of cash acquired (58) (9)
Net decrease (increase) in short-term investments, excluding acquisitions 8,554 (4,266)
Purchases of securities available for sale (3,969) (11,978)
Proceeds from sales of securities available for sale 0 0
Proceeds from prepayments and maturities of securities available for sale 2,797 4,286
Proceeds from prepayments and maturities of held-to-maturity securities 1,321 1,427
Purchases of held-to-maturity securities (1,964) (3)
Purchases of other investments (369) (19)
Proceeds from sales of other investments 8 26
Proceeds from prepayments and maturities of other investments 6 6
Net decrease (increase) in loans, excluding acquisitions, sales and transfers (10,580) 249
Proceeds from sales of portfolio loans 81 163
Proceeds from corporate-owned life insurance 39 36
Purchases of premises, equipment, and software (42) (32)
Proceeds from sales of premises and equipment 11 0
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (4,177) (10,114)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits, excluding acquisitions (6,707) 10,790
Net increase (decrease) in short-term borrowings 5,282 (45)
Net proceeds from issuance of long-term debt 12,101 1,200
Payments on long-term debt (7,081) (1,518)
Open market common share repurchases 0 (435)
Employee equity compensation program Common Share repurchases (44) (32)
Net proceeds from reissuance of Common Shares 5 20
Cash dividends paid (417) (413)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 3,139 9,567
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS (235) (299)
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD 913 1,091
CASH AND DUE FROM BANKS AT END OF PERIOD 678 792
Additional disclosures relative to cash flows:    
Interest paid 169 200
Income taxes paid (refunded) 131 191
Noncash items:    
Reduction of secured borrowing and related collateral 4 2
Loans transferred to portfolio from held for sale 57 86
Loans transferred to held for sale from portfolio 0 97
Loans transferred to OREO 3 2
CMBS risk retentions 6 0
ABS risk retentions $ 9 $ 14