v3.25.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 1,499 $ 1,344
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Provision For Credit Losses 219 155
Depreciation, amortization and accretion 90 37
Deferred income taxes (benefit) (47) (44)
Changes in fair value of mortgage servicing rights 191 (43)
Net change in    
Trading securities and other short-term investments (1,495) 434
Loans held for sale and related securitization activity (297) 11
Other assets 964 (300)
Accrued expenses and other liabilities (1,611) (263)
Other operating activities, net (22) 427
Net cash provided (used) by operating activities (509) 1,758
Sales    
Securities available-for-sale 1,241 (63)
Loans 143 96
Repayments/maturities    
Securities available-for-sale 1,671 1,056
Securities held-to-maturity 3,480 2,883
Purchases    
Securities available-for-sale (4,098) (1,766)
Securities held-to-maturity (31) (56)
Loans (403) (279)
Net change in    
Federal funds sold and resale agreements (445) (4)
Loans (2,393) 1,667
Other investing activities, net (145) (91)
Net cash provided (used) by investing activities (980) 3,443
Net change in    
Noninterest-bearing deposits (272) (3,260)
Interest-bearing deposits (3,551) 7,430
Federal funds purchased and repurchase agreements (3) (167)
Other borrowed funds 419 95
Sales/issuances    
Senior debt 2,742 2,490
Other borrowed funds 0 181
Common and treasury stock 25 24
Repayments/maturities    
Federal Home Loan Bank advances (4,000) (1,000)
Senior debt (750) (1,050)
Other borrowed funds 0 (196)
Acquisition of treasury stock (262) (223)
Preferred stock cash dividends paid (71) (81)
Common stock cash dividends paid (639) (624)
Net cash provided (used) by financing activities (6,362) 3,619
Net Increase (Decrease) In Cash, Cash Equivalents And Restricted Cash [1] (7,851) 8,820
Cash, cash equivalents and restricted cash at beginning of period 46,251 50,725
Cash, cash equivalents and restricted cash at end of period 38,400 59,545
Cash, Cash Equivalents And Restricted Cash    
Cash and cash equivalents at end of period (unrestricted cash) 37,408 58,611
Restricted cash 992 934
Cash, cash equivalents and restricted cash at end of period 38,400 59,545
Supplemental Disclosures    
Interest paid 2,706 2,861
Income taxes paid 77 35
Income taxes refunded 1 6
Leased assets obtained in exchange for new operating lease liabilities 73 75
Non-cash Investing And Financing Items    
Transfer from loans to loans held for sale, net 90 8
Transfer from loans to foreclosed assets $ 12 $ 13
[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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