v3.22.4
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 6,113 $ 5,725 $ 7,558
Adjustments to reconcile net income to net cash provided (used) by operating activities      
Provision For (Recapture of) Credit Losses 477 (779) 3,175
Depreciation, amortization and accretion 651 1,773 1,497
Deferred income taxes (benefit) 351 178 (2,239)
Net losses (gains) on sales of securities 7 (64) (305)
Changes in fair value of mortgage servicing rights (543) 85 799
Gain on sale of BlackRock (5,740)
Undistributed earnings of BlackRock (174)
Net change in      
Trading securities and other short-term investments 433 671 957
Loans held for sale and related securitization activity 1,041 (480) (372)
Other assets (877) (454) (927)
Accrued expenses and other liabilities 599 753 (254)
Other 831 (194) 684
Net cash provided (used) by operating activities 9,083 7,214 4,659
Sales      
Securities available for sale 4,137 26,329 13,851
Net proceeds from sale of BlackRock 14,225
Loans 5,643 1,843 1,894
Repayments/maturities      
Securities available for sale 13,324 30,691 30,901
Securities held to maturity 5,115 131 60
Purchases      
Securities available for sale (25,582) (85,496) (45,356)
Securities held to maturity (15,423) (87) (53)
Loans (2,074) (1,891) (1,982)
Net change in      
Federal funds sold and resale agreements (718) (24) 1,738
Interest-earning deposits with banks 46,930 24,236 (61,760)
Loans (41,735) 15,616 (3,376)
Net cash paid for acquisition [1] (10,511)
Purchases of bank owned life insurance (50) (950)
Other (2,995) (2,682) (1,264)
Net cash provided (used) by investing activities (13,428) (2,795) (51,122)
Net change in      
Noninterest-bearing deposits (30,662) 6,697 39,851
Interest-bearing deposits 9,693 (320) 36,947
Federal funds purchased and repurchase agreements (2) (46) (5,861)
Short-term Federal Home Loan Bank borrowings (6,300)
Other borrowed funds 636 44 123
Sales/issuances      
Federal Home Loan Bank borrowings 32,075 9,060
Senior debt 3,688 1,692 3,487
Subordinated debt 847
Other borrowed funds 796 822 647
Preferred stock 2,225 1,484
Common and treasury stock 68 66 65
Repayments/maturities      
Federal Home Loan Bank borrowings (3,680) (15,601)
Senior debt (6,250) (6,000) (9,047)
Subordinated debt (1,000)
Other borrowed funds (807) (823) (639)
Preferred stock redemption (1,500) (480)
Acquisition of treasury stock (3,731) (1,079) (1,624)
Preferred stock cash dividends paid (301) (233) (229)
Common stock cash dividends paid (2,391) (2,056) (1,980)
Net cash provided (used) by financing activities 3,384 (3,432) 48,419
Net Increase (Decrease) In Cash And Due From Banks And Restricted Cash (961) 987 1,956
Net Cash Provided By Discontinued Operations 11,542
Net Cash Provided (Used) By Continuing Operations (961) 987 (9,586)
Cash and due from banks and restricted cash at beginning of period 8,004 7,017 5,061
Cash and due from banks and restricted cash at end of period 7,043 8,004 7,017
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and due from banks at end of period (unrestricted cash) 6,446 7,431 6,636
Restricted cash 597 573 381
Cash and due from banks and restricted cash at end of period 7,043 8,004 7,017
Supplemental Disclosures      
Interest paid 2,172 582 1,292
Income taxes paid 197 675 3,410
Income taxes refunded 26 73 10
Leased assets obtained in exchange for new operating lease liabilities 326 337 122
Non-cash Investing And Financing Items      
Transfer from securities available for sale to securities held to maturity [1] 88,605
Transfer from trading securities to investment securities 289
Transfer from loans to loans held for sale, net 435 869 1,379
Transfer from loans to foreclosed assets $ 58 $ 27 $ 64
[1] During the year ended December 31, 2022, we transferred securities from available for sale to held to maturity in non-cash transactions. The amount of $88.6 billion includes the aggregate fair value of the securities of $82.7 billion and aggregate net pretax unrealized losses of $5.9 billion included in AOCI at transfer. See Note 3 Investment Securities for more detailed information on the transfers.

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