v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net earnings $ 12,322 $ 1,586
Adjustments to reconcile net earnings to net cash provided by/(used for) operating activities:    
Depreciation and amortization 1,018 936
Share-based compensation 1,961 1,580
Gain related to extinguishment of unsecured borrowings 0 (1)
Provision for credit losses (162) 2,527
Changes in operating assets and liabilities:    
Customer and other receivables and payables, net 7,272 (7,490)
Collateralized transactions (excluding other secured financings), net (58,500) (79,763)
Trading assets 17,387 (38,234)
Trading liabilities 45,064 53,472
Loans held for sale, net 435 2,026
Other, net (11,513) (1,317)
Net cash provided by/(used for) operating activities 15,284 (64,678)
Cash flows from investing activities    
Purchase of property, leasehold improvements and equipment (2,665) (3,908)
Proceeds from sales of property, leasehold improvements and equipment 735 822
Purchase of investments (19,716) (28,287)
Proceeds from sales and paydowns of investments 23,569 15,643
Loans (excluding loans held for sale), net (13,631) (12,699)
Net cash used for investing activities (11,708) (28,429)
Cash flows from financing activities    
Unsecured short-term borrowings, net 7,513 5,449
Other secured financings (short-term), net 2,992 4,250
Proceeds from issuance of other secured financings (long-term) 2,879 3,813
Repayment of other secured financings (long-term), including the current portion (1,500) (997)
Purchase of Trust Preferred securities 0 (11)
Proceeds from issuance of unsecured long-term borrowings 52,897 32,099
Repayment of unsecured long-term borrowings, including the current portion (23,136) (28,704)
Derivative contracts with a financing element, net 302 249
Deposits, net 46,334 79,525
Preferred stock redemption (2,675) (350)
Common stock repurchased (3,700) (1,928)
Settlement of share-based awards in satisfaction of withholding tax requirements (970) (820)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards (1,111) (1,164)
Proceeds from issuance of preferred stock, net of issuance costs 675 349
Other financing, net 371 400
Net cash provided by financing activities 80,871 92,160
Net increase/(decrease) in cash and cash equivalents 84,447 (947)
Cash and cash equivalents, beginning balance 155,842 133,546
Cash and cash equivalents, ending balance 240,289 132,599
Supplemental disclosures:    
Cash payments for interest, net of capitalized interest 3,023 5,855
Cash payments for income taxes, net $ 3,299 $ 773