Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 1,073 $ 904
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (benefit) for credit losses 218 207
Depreciation, amortization, and accretion 397 360
Share-based compensation expense 53 53
Deferred income tax benefit (173) (27)
Net gains (losses) on sales of securities 58 0
Net change in:    
Trading account securities (428) (29)
Loans held for sale (226) (190)
Other assets (210) (592)
Short-term borrowings 403 10
Other liabilities (81) 81
Other, net (17) 2
Net cash provided by operating activities 1,067 779
Investing activities    
Change in interest-earning deposits with banks 185 (24)
Proceeds from:    
Maturities and calls of available-for-sale securities 2,694 4,677
Maturities and calls of held-to-maturity securities 925 699
Maturities and calls of other securities 65 27
Sales of available-for-sale securities 850 0
Purchases of available-for-sale securities (3,907) (7,058)
Purchases of held-to-maturity securities (515) 0
Purchases of other securities (120) (146)
Net proceeds from sales of loans and leases 161 164
Principal payments received under direct finance leases 740 896
Net loan and lease activity, excluding sales and purchases (5,861) (3,708)
Purchases of premises and equipment (108) (74)
Purchases of loans and leases (317) (48)
Net accrued income and other receivables activity 532 100
Other, net 31 41
Net cash used in investing activities (4,645) (4,454)
Financing activities    
Increase in deposits 932 3,137
Decrease in short-term borrowings (138) (709)
Net proceeds from issuance of long-term debt 2,001 5,306
Maturity/redemption of long-term debt (1,136) (1,081)
Dividends paid on preferred stock (54) (71)
Dividends paid on common stock (453) (451)
Other, net (62) (39)
Net cash provided by financing activities 1,090 6,092
(Decrease) increase in cash and cash equivalents (2,488) 2,417
Cash and cash equivalents at beginning of period [1] 12,847 10,129
Cash and cash equivalents at end of period [1] 10,359 12,546
Supplemental disclosures:    
Interest paid 2,122 2,209
Income taxes paid 159 92
Non-cash activities    
Loans transferred to held-for-sale from portfolio 168 164
Loans transferred to portfolio from held-for-sale $ 11 $ 17
[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.