Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Income after income taxes $ 531 $ 424
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 115 107
Depreciation, amortization, and accretion 209 190
Share-based compensation expense 21 20
Deferred income tax benefit (25) (29)
Net change in:    
Trading account securities (424) (42)
Loans held for sale 70 (2)
Other assets 52 (385)
Short-term borrowings 503 18
Other liabilities (543) 184
Other, net 4 (3)
Net cash provided by operating activities 513 482
Investing activities    
Change in interest earning deposits with banks 183 (15)
Proceeds from:    
Maturities and calls of available-for-sale securities 1,481 1,589
Maturities and calls of held-to-maturity securities 571 327
Maturities and calls of other securities 40 9
Purchases of available-for-sale securities (1,577) (3,303)
Purchases of held-to-maturity securities (515) 0
Purchases of other securities (97) (11)
Net proceeds from sales of loans and leases 49 71
Principal payments received under direct finance leases 356 447
Net loan and lease activity, excluding sales and purchases (2,883) (1,398)
Purchases of premises and equipment (54) (32)
Purchases of loans and leases (195) (23)
Net accrued income and other receivables activity 476 59
Other, net 15 18
Net cash used in investing activities (2,150) (2,262)
Financing activities    
Increase in deposits 2,889 1,995
Decrease in short-term borrowings (82) (523)
Net proceeds from issuance of long-term debt 1,953 2,786
Maturity/redemption of long-term debt (378) (156)
Dividends paid on preferred stock (27) (36)
Dividends paid on common stock (226) (226)
Other, net (29) (9)
Net cash provided by financing activities 4,100 3,831
Increase in cash and cash equivalents 2,463 2,051
Cash and cash equivalents at beginning of period [1] 12,847 10,129
Cash and cash equivalents at end of period [1] 15,310 12,180
Supplemental disclosures:    
Interest paid 1,092 1,070
Income taxes paid 34 47
Non-cash activities    
Loans transferred to held-for-sale from portfolio 73 64
Loans transferred to portfolio from held-for-sale $ 8 $ 11
[1] Includes cash and due from banks and interest-earning deposits at the FRB, included within interest-earning deposits with banks on our Unaudited Consolidated Balance Sheets.