v3.25.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 5,953 $ 5,647 $ 6,113
Adjustments to reconcile net income to net cash provided (used) by operating activities      
Provision For Credit Losses 789 742 477
Depreciation, amortization and accretion 259 217 651
Deferred income taxes (benefit) (30) (252) 351
Net losses on sales of securities 500 2 7
Changes in fair value of mortgage servicing rights 154 298 (543)
Gain on Visa shares exchange program (754)
Net change in      
Trading securities and other short-term investments 41 (767) 433
Loans held for sale and related securitization activity (151) 210 1,041
Other assets 896 2,312 (877)
Accrued expenses and other liabilities (1,373) 507 599
Other operating activities, net 1,596 1,195 831
Net cash provided (used) by operating activities 7,880 10,111 9,083
Sales      
Securities available-for-sale 4,259 36 4,137
Loans 636 979 5,643
Repayments/maturities      
Securities available-for-sale 6,622 6,916 13,324
Securities held-to-maturity 15,711 7,003 5,115
Purchases      
Securities available-for-sale (30,366) (3,805) (25,582)
Securities held-to-maturity (1,745) (1,857) (15,423)
Loans (1,915) (10,195) (2,074)
Net change in      
Federal funds sold and resale agreements (387) 573 (718)
Loans 5,056 12,440 (41,735)
Purchases of bank owned life insurance (50)
Other investing activities, net (1,103) (1,985) (2,995)
Net cash provided (used) by investing activities (3,232) 10,105 (60,358)
Net change in      
Noninterest-bearing deposits (8,660) (23,189) (30,662)
Interest-bearing deposits 13,964 8,337 9,693
Federal funds purchased and repurchase agreements (74) 359 (2)
Other borrowed funds 431 (549) 636
Sales/issuances      
Federal Home Loan Bank advances 3,000 6,000 32,075
Senior debt 9,974 10,464 3,688
Subordinated debt 847
Other borrowed funds 824 796
Preferred stock 1,484 2,225
Common and treasury stock 69 72 68
Repayments/maturities      
Federal Home Loan Bank advances (19,000) (75)
Senior debt (4,000) (750) (6,250)
Subordinated debt (750) (1,500) (1,000)
Other borrowed funds (802) (807)
Preferred stock redemption (500) (1,000) (1,500)
Acquisition of treasury stock (687) (651) (3,731)
Preferred stock cash dividends paid (352) (417) (301)
Common stock cash dividends paid (2,537) (2,461) (2,391)
Net cash provided (used) by financing activities (9,122) (3,854) 3,384
Net Increase (Decrease) In Cash, Cash Equivalents And Restricted Cash [1] (4,474) 16,362 (47,891)
Cash, cash equivalents and restricted cash at beginning of period 50,725 34,363 82,254
Cash, cash equivalents and restricted cash at end of period 46,251 50,725 34,363
Cash, Cash Equivalents And Restricted Cash      
Cash and cash equivalents at end of period (unrestricted cash) 45,283 49,740 33,766
Restricted cash 968 985 597
Cash, cash equivalents and restricted cash at end of period 46,251 50,725 34,363
Supplemental Disclosures      
Interest paid 13,052 9,451 2,172
Income taxes paid 434 997 197
Income taxes refunded 45 832 26
Leased assets obtained in exchange for new operating lease liabilities 247 237 326
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 122 380 435
Transfer from loans to foreclosed assets 40 56 58
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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