v3.24.2.u1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 2,821 $ 3,194
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Provision For Credit Losses 390 381
Depreciation, amortization and accretion 74 125
Deferred income taxes (benefit) (21) (75)
Net losses on sales of securities 499 2
Changes in fair value of mortgage servicing rights 23 136
Gain on Visa shares exchange program (754)
Net change in    
Trading securities and other short-term investments 416 (601)
Loans held for sale and related securitization activity (238) 522
Other assets (142) 1,410
Accrued expenses and other liabilities (934) (494)
Other operating activities, net 659 532
Net cash provided (used) by operating activities 2,793 5,132
Sales    
Securities available for sale 3,745 (70)
Loans 237 605
Repayments/maturities    
Securities available for sale 2,747 4,038
Securities held to maturity 4,714 3,076
Purchases    
Securities available for sale (16,246) (1,272)
Securities held to maturity (933) (1,513)
Loans (865) (416)
Net change in    
Federal funds sold and resale agreements 167 229
Loans 206 3,305
Other investing activities, net (357) (445)
Net cash provided (used) by investing activities (6,585) 7,537
Net change in    
Noninterest-bearing deposits (6,755) (13,982)
Interest-bearing deposits 1,716 5,166
Federal funds purchased and repurchase agreements (178) 94
Other borrowed funds (129) (35)
Sales/issuances    
Federal Home Loan Bank borrowings 2,000
Senior debt 4,236 6,235
Other borrowed funds 338 486
Preferred stock 1,484
Common and treasury stock 33 36
Repayments/maturities    
Federal Home Loan Bank borrowings (3,000) (75)
Senior debt (1,050) (750)
Subordinated debt (750) (750)
Other borrowed funds (354) (495)
Acquisition of treasury stock (336) (588)
Preferred stock cash dividends paid (176) (195)
Common stock cash dividends paid (1,247) (1,213)
Net cash provided (used) by financing activities (7,652) (2,582)
Net Increase (Decrease) In Cash, Cash Equivalents And Restricted Cash [1] (11,444) 10,087
Cash, cash equivalents and restricted cash at beginning of period 50,725 34,363
Cash, cash equivalents and restricted cash at end of period 39,281 44,450
Cash, Cash Equivalents And Restricted Cash    
Cash and cash equivalents at end of period (unrestricted cash) 38,407 43,863
Restricted cash 874 587
Cash, cash equivalents and restricted cash at end of period 39,281 44,450
Supplemental Disclosures    
Interest paid 6,314 2,586
Income taxes paid 288 719
Income taxes refunded 44 824
Leased assets obtained in exchange for new operating lease liabilities 129 113
Non-cash Investing And Financing Items    
Transfer from loans to loans held for sale, net 58 712
Transfer from loans to foreclosed assets $ 24 $ 32
[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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