v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Income after income taxes $ 1,600 $ 895
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 198 89
Depreciation and amortization 355 299
Share-based compensation expense 82 97
Deferred income tax expense 164 40
Net change in:    
Trading account securities 15 (15)
Loans held for sale 464 (115)
Other assets (1,109) (247)
Other liabilities 893 455
Other, net 8 67
Net cash provided by operating activities 2,670 1,565
Investing activities    
Change in interest bearing deposits in banks 287 611
Net cash (paid) received from business combinations (223)  
Net cash (paid) received from business combinations   466
Proceeds from:    
Maturities and calls of available-for-sale securities 3,298 5,408
Maturities and calls of held-to-maturity securities 2,306 3,073
Maturities and calls of other securities 829 0
Sales of available-for-sale securities 0 5,860
Purchases of available-for-sale securities (6,365) (14,995)
Purchases of held-to-maturity securities (2,845) (3,685)
Purchases of other securities (1,009) 0
Net proceeds from sales of portfolio loans and leases 937 479
Principal payments received under direct finance and sales-type leases 1,389 899
Net loan and lease activity, excluding sales and purchases (8,375) 5,130
Purchases of premises and equipment (165) (157)
Purchases of loans and leases (569) (771)
Net accrued income and other receivables activity 96 (1,009)
Net cash paid for branch disposition 0 (618)
Other, net 63 98
Net cash provided by (used in) investing activities (10,346) 789
Financing activities    
Increase in deposits 3,050 5,136
Increase (decrease) in short-term borrowings 783 (1,062)
Net proceeds from issuance of long-term debt 5,379 646
Maturity/redemption of long-term debt (1,902) (2,649)
Dividends paid on preferred stock (84) (109)
Dividends paid on common stock (673) (531)
Repurchases of common stock 0 (500)
Net proceeds from issuance of preferred stock 0 486
Payment to repurchase preferred stock 0 (600)
Other, net (23) (21)
Net cash provided by financing activities 6,530 796
Increase (decrease) in cash and cash equivalents (1,146) 3,150
Cash and cash equivalents at beginning of period 5,522 6,595
Cash and cash equivalents at end of period 4,376 9,745
Supplemental disclosures:    
Interest paid 269 135
Income taxes (received) paid (113) 262
Non-cash activities    
Loans transferred to held-for-sale from portfolio 764 385
Loans transferred to portfolio from held-for-sale 65 83
Transfer of securities from available-for-sale to held-to-maturity $ 4,225 3,007
Preferred Stock    
Non-cash activities    
Stock issued in business combination   185
Common Stock-Par Value $0.01 per share    
Non-cash activities    
Stock issued in business combination   7,000
TCF Financial Corporation    
Non-cash activities    
Fair value of tangible assets acquired   46,300
Goodwill and other intangible assets   3,500
Liabilities assumed   $ 42,600

Source