Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 1,297 $ 817 $ 1,411
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for credit losses 25 1,048 287
Depreciation and amortization 391 367 386
Share-based compensation expense 129 77 83
Deferred income tax expense (benefit) (76) (93) 23
Net change in:      
Trading account securities 16 37 (32)
Loans held for sale (56) (534) (214)
Other assets 366 (1,077) (593)
Other liabilities 27 683 194
Other, net (57) (2) 29
Net cash provided by (used in) operating activities 2,062 1,323 1,574
Investing activities      
Change in interest bearing deposits in banks 716 (81) (112)
Net cash received from business acquisition 466 0 0
Proceeds from:      
Maturities and calls of available-for-sale securities 7,275 5,697 2,124
Maturities and calls of held-to-maturity securities 4,151 3,042 1,021
Sales of available-for-sale securities 5,892 392 3,903
Purchases of available-for-sale securities (19,936) (11,104) (6,036)
Purchases of held-to-maturity securities (4,777) 0 (1,519)
Net proceeds from sales of portfolio loans and leases 517 1,113 1,049
Principal payments received under direct finance and sales-type leases 1,055 704 714
Net loan and lease activity, excluding sales and purchases 2,650 (6,844) (2,149)
Purchases of premises and equipment (247) (119) (107)
Purchases of loans and leases (1,197) (1,506) (445)
Net cash paid for branch disposition (618) 0 (548)
Other, net 91 67 228
Net cash provided by (used in) investing activities (3,962) (8,639) (1,877)
Financing activities      
Increase (decrease) in deposits 6,501 16,601 (1,702)
(Decrease) Increase in short-term borrowings (1,245) (2,373) 586
Net proceeds from issuance of long-term debt 775 1,386 1,796
Maturity/redemption of long-term debt (3,404) (3,052) (743)
Dividends paid on preferred stock (138) (84) (74)
Dividends paid on common stock (750) (614) (597)
Repurchases of common stock (650) (92) (441)
Payment to repurchase preferred stock (700) 0 0
Net proceeds from issuance of preferred stock 486 988 0
Other, net (48) (19) (24)
Net cash provided by (used for) financing activities 827 12,741 (1,199)
Increase (decrease) in cash and cash equivalents (1,073) 5,425 (1,502)
Cash and cash equivalents at beginning of period 6,595 1,170 2,672
Cash and cash equivalents at end of period 5,522 6,595 1,170
Supplemental disclosures:      
Interest paid 185 453 989
Income taxes paid 269 81 111
Non-cash activities      
Loans transferred to held-for-sale from portfolio 872 1,139 963
Loans transferred to portfolio from held-for-sale 102 53 19
Transfer of securities from available-for-sale to held-to-maturity 3,007 2,842 0
TCF Financial Corporation      
Business Combination      
Fair value of tangible assets acquired 46,256 0 0
Goodwill and other intangible assets 3,516 0 0
Liabilities assumed 42,567 0 0
TCF Financial Corporation | Preferred Stock      
Business Combination      
Stock issued in business combination 185 0 0
TCF Financial Corporation | Common Stock-Par Value $0.01 per share      
Business Combination      
Stock issued in business combination $ 6,998 $ 0 $ 0