v3.24.3
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 4,326 $ 4,764
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Provision For Credit Losses 633 510
Depreciation, amortization and accretion 95 174
Deferred income taxes (benefit) (89) (119)
Net losses on sales of securities 498 2
Changes in fair value of mortgage servicing rights 297 (63)
Gain on Visa shares exchange program (754)
Net change in    
Trading securities and other short-term investments (246) (506)
Loans held for sale and related securitization activity (18) 40
Other assets 1,438 (1,899)
Accrued expenses and other liabilities (563) 1,304
Other operating activities, net 463 1,040
Net cash provided (used) by operating activities 6,080 5,247
Sales    
Securities available for sale 4,309 (93)
Loans 375 812
Repayments/maturities    
Securities available for sale 5,049 5,524
Securities held to maturity 8,633 5,592
Purchases    
Securities available for sale (25,501) (2,791)
Securities held to maturity (1,028) (1,664)
Loans (1,595) (588)
Net change in    
Federal funds sold and resale agreements (606) 417
Loans 584 6,230
Other investing activities, net (587) (989)
Net cash provided (used) by investing activities (10,367) 12,450
Net change in    
Noninterest-bearing deposits (6,638) (18,823)
Interest-bearing deposits 9,245 6,141
Federal funds purchased and repurchase agreements (111) 231
Other borrowed funds 504 (272)
Sales/issuances    
Federal Home Loan Bank borrowings 4,000
Senior debt 6,729 6,977
Other borrowed funds 520 619
Preferred stock 1,484
Common and treasury stock 60 62
Repayments/maturities    
Federal Home Loan Bank borrowings (10,000) (75)
Senior debt (1,650) (750)
Subordinated debt (750) (1,500)
Other borrowed funds (544) (635)
Acquisition of treasury stock (466) (599)
Preferred stock cash dividends paid (258) (299)
Common stock cash dividends paid (1,893) (1,837)
Net cash provided (used) by financing activities (5,252) (5,276)
Net Increase (Decrease) In Cash, Cash Equivalents And Restricted Cash [1] (9,539) 12,421
Cash, cash equivalents and restricted cash at beginning of period 50,725 34,363
Cash, cash equivalents and restricted cash at end of period 41,186 46,784
Cash, Cash Equivalents And Restricted Cash    
Cash and cash equivalents at end of period (unrestricted cash) 40,302 46,266
Restricted cash 884 518
Cash, cash equivalents and restricted cash at end of period 41,186 46,784
Supplemental Disclosures    
Interest paid 9,586 6,273
Income taxes paid 332 945
Income taxes refunded 44 830
Leased assets obtained in exchange for new operating lease liabilities 182 148
Non-cash Investing And Financing Items    
Transfer from loans to loans held for sale, net 85 349
Transfer from loans to foreclosed assets 31 44
Adjustment to assets and liabilities related to partially financed investment exits $ 834
[1] In the second quarter of 2024, we updated our policy for cash and cash equivalents to include interest-earning deposits with banks. See Note 1 Accounting Policies for additional information regarding this change to our cash and cash equivalents policy.

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