v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 1,960 $ 1,971 $ 2,249
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 420 402 289
Depreciation and amortization 622 798 484
Share-based compensation expense 106 97 105
Deferred income tax (benefit) provision (26) (302) 319
Net change in:      
Trading account securities 72 (106) 27
Loans held for sale (227) (83) 675
Other assets (761) (491) (1,156)
Other liabilities (344) 341 1,024
Other, net (7) 30 11
Net cash provided by operating activities 1,815 2,657 4,027
Investing activities      
Change in interest earning deposits with banks (254) 23 332
Net cash paid in business acquisition 0 0 (223)
Proceeds from:      
Maturities and calls of available-for-sale securities 11,001 2,689 4,053
Maturities and calls of held-to-maturity securities 1,397 1,523 2,803
Maturities and calls of other securities 57 615 832
Sales of available-for-sale securities 990 767 0
Sales of other securities 0 144 41
Purchases of available-for-sale securities (14,043) (4,965) (7,107)
Purchases of held-to-maturity securities (2,037) (256) (3,229)
Purchases of other securities (155) (630) (1,080)
Net proceeds from sales of loans and leases 391 450 995
Principal payments received under direct finance leases 1,769 1,891 1,882
Purchases of loans and leases (680) (71) (610)
Net loan and lease activity, excluding sales and purchases (10,025) (5,108) (10,169)
Purchases of premises and equipment (143) (140) (214)
Net accrued income and other receivables activity (474) (17) (66)
Other, net 87 88 151
Net cash used in investing activities (12,119) (2,997) (11,609)
Financing activities      
Increase in deposits 11,218 3,316 4,651
(Decrease) increase in short-term borrowings (782) (1,295) 2,161
Net proceeds from issuance of long-term debt 7,661 14,965 11,004
Maturity/redemption of long-term debt (3,563) (12,376) (8,017)
Dividends paid on preferred stock (143) (134) (113)
Dividends paid on common stock (903) (900) (897)
Repurchase/redemption of preferred stock (410) (82) 0
Net proceeds from issuance of preferred stock 0 317 0
Other, net (56) (46) (25)
Net cash provided by financing activities 13,022 3,765 8,764
Increase in cash and cash equivalents 2,718 3,425 1,182
Cash and cash equivalents at beginning of period [1] 10,129 6,704 5,522
Cash and cash equivalents at end of period [1] 12,847 10,129 6,704
Supplemental disclosures:      
Interest paid 4,547 3,359 627
Income taxes paid (refunded) 123 90 (109)
Non-cash activities      
Loans transferred to held-for-sale from portfolio 390 439 748
Loans transferred to portfolio from held-for-sale 34 22 126
Transfer of securities from available-for-sale to held-to-maturity $ 0 $ 0 $ 4,225
[1] Includes cash and due from banks and interest-earning deposits at the FRB, included within Interest-earning deposits with banks on our Consolidated Balance Sheets.

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