v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) before noncontrolling interests $ 5,290 $ 4,804
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Provision for credit losses 1,135 932
Changes in fair value of MSRs and LHFS carried at fair value 159 239
Depreciation, amortization and accretion 1,836 1,858
Deferred income tax benefit (843) (423)
Other, net 299 3,372
Originations and purchases of loans held for sale (1) (7,996) (9,501) [1]
Proceeds from sales of and paydowns on loans originally classified as held for sale (1) 6,041 8,374 [1]
Net change in:    
Trading assets and liabilities (1) 14,397 (9,689) [1]
Other assets (1) (9,004) (8,055) [1]
Other accrued expenses and liabilities (1) (2,171) (2,948) [1]
Net cash provided (used) by operating activities 9,143 (11,037)
Net change in:    
Federal funds sold and securities borrowed or purchased under resale agreements (21,670) (21,500)
Available-for-sale debt securities:    
Proceeds from sales 8,639 97
Paydowns and maturities 7,236 4,821
Purchases (26,194) (17,676)
Held-to-maturity debt securities:    
Paydowns and maturities 3,966 7,783
Equity securities:    
Proceeds from sales and capital returns 1,146 620
Purchases (2,308) (1,315)
Loans:    
Loans originated, net of principal collected (32,317) (2,601)
Proceeds from sales of loans originally classified as held for investment 1,050 956
Purchases of loans (519) (380)
Other, net 5,404 [2] 1,687
Net cash provided (used) by investing activities (55,567) (27,508)
Net change in:    
Deposits 28,737 (10,076)
Federal funds purchased and securities loaned or sold under repurchase agreements (1) 1,684 29,590 [1]
Short-term borrowings (1) 13,959 1,380 [1]
Long-term debt:    
Proceeds from issuance 11,653 7,340
Repayment (1,326) (9,618)
Preferred stock:    
Proceeds from issuance 2,246 0
Redeemed (3,510) 0
Cash dividends paid (248) (249)
Common stock:    
Repurchased (4,000) (3,500)
Cash dividends paid (1,387) (1,318)
Other, net (704) (728)
Net cash provided (used) by financing activities 47,104 12,821
Net change in cash, cash equivalents, and restricted cash 680 (25,724)
Cash, cash equivalents, and restricted cash at beginning of period [3] 172,593 201,902
Cash, cash equivalents, and restricted cash at end of period [3] 173,273 176,178
Supplemental cash flow disclosures:    
Cash paid for interest $ 9,730 $ 9,791
[1] In fourth quarter 2025, we changed the presentation of certain items on our consolidated balance sheet, including trading assets and liabilities and short-term borrowings, with corresponding changes to our consolidated statement of cash flows. Prior period balances have been revised to conform with the current period presentation. For additional information, see Note 1 (Summary of Significant Accounting Policies).
[2] Includes cash proceeds from the sale of the Company’s rail car leasing business.
[3] Includes Cash and due from banks and Interest-earning deposits with banks on our consolidated balance sheet and excludes time deposits, which are included in Interest-earning deposits with banks.