v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Income after income taxes $ 424 $ 606
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 107 85
Depreciation and amortization 190 142
Share-based compensation expense 20 25
Deferred income tax (benefit) expense (29) 55
Net change in:    
Trading account securities (42) 1
Loans held for sale (2) 44
Other assets (385) (348)
Other liabilities 184 (456)
Other, net (3) (24)
Net cash provided by operating activities 464 130
Investing activities    
Change in interest bearing deposits in banks (15) (6)
Proceeds from:    
Maturities and calls of available-for-sale securities 1,589 432
Maturities and calls of held-to-maturity securities 327 320
Maturities and calls of other securities 9 0
Sales of available-for-sale securities 0 435
Sales of other securities 0 141
Purchases of available-for-sale securities (3,303) (1,168)
Purchases of held-to-maturity securities 0 (254)
Purchases of other securities (11) (586)
Net proceeds from sales of portfolio loans and leases 71 89
Principal payments received under direct finance and sales-type leases 447 487
Net loan and lease activity, excluding sales and purchases (1,398) (2,272)
Purchases of premises and equipment (32) (25)
Purchases of loans and leases (23) (12)
Net accrued income and other receivables activity 59 92
Other, net 18 28
Net cash used in investing activities (2,262) (2,299)
Financing activities    
Increase (decrease) in deposits 1,995 (2,636)
Increase (decrease) in short-term borrowings (505) 5,128
Net proceeds from issuance of long-term debt 2,786 3,541
Maturity/redemption of long-term debt (156) (268)
Dividends paid on preferred stock (36) (29)
Dividends paid on common stock (226) (225)
Net proceeds from issuance of preferred stock 0 317
Other, net (9) 6
Net cash provided by financing activities 3,849 5,834
Increase in cash and cash equivalents 2,051 3,665
Cash and cash equivalents at beginning of period 10,129 6,704
Cash and cash equivalents at end of period 12,180 10,369
Supplemental disclosures:    
Interest paid 1,070 562
Income taxes paid (received) 47 (59)
Non-cash activities    
Loans transferred to held-for-sale from portfolio 64 80
Loans transferred to portfolio from held-for-sale $ 11 $ 6

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