v3.24.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 5,647 $ 6,113 $ 5,725
Adjustments to reconcile net income to net cash provided (used) by operating activities      
Provision For (Recapture of) Credit Losses 742 477 (779)
Depreciation, amortization and accretion 217 651 1,773
Deferred income taxes (benefit) (252) 351 178
Changes in fair value of mortgage servicing rights 298 (543) 85
Net change in      
Trading securities and other short-term investments (767) 433 671
Loans held for sale and related securitization activity 210 1,041 (480)
Other assets 2,312 (877) (454)
Accrued expenses and other liabilities 507 599 753
Other operating activities, net 1,197 838 (258)
Net cash provided (used) by operating activities 10,111 9,083 7,214
Sales      
Securities available for sale 36 4,137 26,329
Loans 979 5,643 1,843
Repayments/maturities      
Securities available for sale 6,916 13,324 30,691
Securities held to maturity 7,003 5,115 131
Purchases      
Securities available for sale (3,805) (25,582) (85,496)
Securities held to maturity (1,857) (15,423) (87)
Loans (10,195) (2,074) (1,891)
Net change in      
Federal funds sold and resale agreements 573 (718) (24)
Interest-earning deposits with banks (16,519) 46,930 24,236
Loans 12,440 (41,735) 15,616
Net cash paid for acquisition [1] (10,511)
Purchases of bank owned life insurance (50) (950)
Other investing activities, net (1,950) (2,995) (2,682)
Net cash provided (used) by investing activities (6,379) (13,428) (2,795)
Net change in      
Noninterest-bearing deposits (23,189) (30,662) 6,697
Interest-bearing deposits 8,337 9,693 (320)
Federal funds purchased and repurchase agreements 359 (2) (46)
Other borrowed funds (549) 636 44
Sales/issuances      
Federal Home Loan Bank borrowings 6,000 32,075
Senior debt 10,464 3,688 1,692
Subordinated debt 847
Other borrowed funds 824 796 822
Preferred stock 1,484 2,225 1,484
Common and treasury stock 72 68 66
Repayments/maturities      
Federal Home Loan Bank borrowings (75) (3,680)
Senior debt (750) (6,250) (6,000)
Subordinated debt (1,500) (1,000)
Other borrowed funds (802) (807) (823)
Preferred stock redemption (1,000) (1,500)
Acquisition of treasury stock (651) (3,731) (1,079)
Preferred stock cash dividends paid (417) (301) (233)
Common stock cash dividends paid (2,461) (2,391) (2,056)
Net cash provided (used) by financing activities (3,854) 3,384 (3,432)
Net Increase (Decrease) In Cash And Due From Banks And Restricted Cash (122) (961) 987
Cash and due from banks and restricted cash at beginning of period 7,043 8,004 7,017
Cash and due from banks and restricted cash at end of period 6,921 7,043 8,004
Cash And Due From Banks And Restricted Cash      
Cash and due from banks at end of period (unrestricted cash) 5,936 6,446 7,431
Restricted cash 985 597 573
Cash and due from banks and restricted cash at end of period 6,921 7,043 8,004
Supplemental Disclosures      
Interest paid 9,451 2,172 582
Income taxes paid 997 197 675
Income taxes refunded 832 26 73
Leased assets obtained in exchange for new operating lease liabilities 237 326 337
Non-cash Investing And Financing Items      
Transfer from securities available for sale to securities held to maturity 88,605
Transfer from loans to loans held for sale, net 380 435 869
Transfer from loans to foreclosed assets 56 58 27
Adjustment to assets and liabilities related to partially financed investment exits $ 834
[1] During the year ended December 31, 2021, cash paid to acquire BBVA was $11,480 million. The amount of $10,511 million represents the cash paid for the acquisition less $969 million in cash acquired.

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