Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses $ 89 $ 945
Depreciation and amortization 299 258
Share-based compensation expense 97 60
Deferred income tax expense (benefit) 40 (123)
Net change in:    
Trading account securities (15) 45
Loans held for sale (115) (395)
Other assets (247) (919)
Other liabilities 455 890
Other, net 67 (3)
Net cash provided by operating activities 1,565 1,259
Investing activities    
Change in interest bearing deposits in banks 611 (80)
Net cash received from business combination 466 0
Proceeds from:    
Maturities and calls of available-for-sale securities 5,408 3,657
Maturities and calls of held-to-maturity securities 3,073 2,028
Sales of available-for-sale securities 5,860 392
Purchases of available-for-sale securities (14,995) (5,988)
Purchases of held-to-maturity securities (3,685) 0
Net proceeds from sales of portfolio loans and leases 479 696
Principal payments received under direct finance and sales-type leases 899 518
Net loan and lease activity, excluding sales and purchases 4,121 (6,099)
Purchases of premises and equipment (157) (82)
Purchases of loans and leases (771) (1,248)
Net cash paid for branch disposition 618 0
Other, net 98 54
Net cash provided by (used in) investing activities 789 (6,152)
Financing activities    
Increase in deposits 5,136 12,807
Decrease in short-term borrowings (1,062) (2,306)
Net proceeds from issuance of long-term debt 646 1,348
Maturity/redemption of long-term debt (2,649) (2,218)
Dividends paid on preferred stock (109) (55)
Dividends paid on common stock (531) (460)
Repurchases of common stock (500) (88)
Payment to repurchase preferred stock (600) 0
Net proceeds from issuance of preferred stock 486 988
Other, net (21) (18)
Net cash provided by financing activities 796 9,998
Increase in cash and cash equivalents 3,150 5,105
Cash and cash equivalents at beginning of period 6,595 1,170
Cash and cash equivalents at end of period 9,745 6,275
Supplemental disclosures:    
Interest paid 135 307
Income taxes paid 262 48
Non-cash activities    
Loans transferred to held-for-sale from portfolio 385 839
Loans transferred to portfolio from held-for-sale 83 37
Transfer of securities from available-for-sale to held-to-maturity 3,007 1,520
Income after income taxes 895 501
TCF Financial Corporation    
Non-cash activities    
Fair value of tangible assets acquired 46,256 0
Goodwill and other intangible assets 3,483 0
Liabilities assumed 42,534 0
Preferred Stock    
Non-cash activities    
Stock issued in business combination   0
Preferred Stock | TCF Financial Corporation    
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   $ 0
Common Stock-Par Value $0.01 per share | TCF Financial Corporation    
Non-cash activities    
Stock issued in business combination $ 6,998