v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net earnings $ 9,459 $ 8,466 $ 10,459
Adjustments to reconcile net earnings to net cash provided by/(used) for operating activities:      
Depreciation and amortization 1,902 1,704 1,328
Deferred income taxes (833) (334) (2,645)
Share-based compensation 1,920 2,018 1,831
Gain related to extinguishment of unsecured borrowings (1) (20) (160)
Provision for credit losses 3,098 1,065 674
Changes in operating assets and liabilities:      
Customer and other receivables and payables, net (30,895) (7,693) 6,416
Collateralized transactions (excluding other secured financings), net (13,007) 94,991 28,147
Trading assets (33,405) (68,682) (23,652)
Trading liabilities 44,892 (231) (3,670)
Loans held for sale, net 1,820 (1,458) 442
Other, net 1,322 (5,958) (2,606)
Net cash provided by/(used for) operating activities (13,728) 23,868 16,564
Cash flows from investing activities      
Purchase of property, leasehold improvements and equipment (6,309) (8,443) (7,982)
Proceeds from sales of property, leasehold improvements and equipment 2,970 6,632 3,711
Net cash used for business acquisitions (231) (803) (162)
Purchase of investments (48,670) (29,773) (9,418)
Proceeds from sales and paydowns of investments 29,057 17,812 8,095
Loans (excluding loans held for sale), net (11,173) (9,661) (13,064)
Net cash used for investing activities (34,356) (24,236) (18,820)
Cash flows from financing activities      
Unsecured short-term borrowings, net 7,707 14 2,337
Other secured financings (short-term), net 2,861 (2,050) 586
Proceeds from issuance of other secured financings (long-term) 8,073 7,257 4,996
Repayment of other secured financings (long-term), including the current portion (4,137) (7,468) (9,482)
Purchase of Trust Preferred securities (11) (206) (35)
Proceeds from issuance of unsecured long-term borrowings 47,250 22,381 45,927
Repayment of unsecured long-term borrowings, including the current portion (55,040) (43,936) (37,243)
Derivative contracts with a financing element, net 1,037 3,952 2,294
Deposits, net 67,343 31,214 20,206
Preferred stock redemption (350) (1,100) (650)
Common stock repurchased (1,928) (5,335) (3,294)
Settlement of share-based awards in satisfaction of withholding tax requirements (830) (745) (1,118)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards (2,336) (2,104) (1,810)
Proceeds from issuance of preferred stock, net of issuance costs 349 1,098  
Proceeds from issuance of common stock, including exercise of share-based awards     38
Other financing, net 392 395  
Net cash provided by financing activities 70,380 3,367 22,752
Net increase in cash and cash equivalents 22,296 2,999 20,496
Cash and cash equivalents, beginning balance 133,546 130,547 110,051
Cash and cash equivalents, ending balance 155,842 133,546 130,547
Supplemental disclosures:      
Cash payments for interest, net of capitalized interest 9,091 18,645 16,721
Cash payments for income taxes, net $ 2,754 $ 1,266 $ 1,271