v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net earnings $ 17,700 $ 4,953
Adjustments to reconcile net earnings to net cash used for operating activities:    
Depreciation and amortization 1,527 1,404
Share-based compensation 2,141 1,737
Gain related to extinguishment of unsecured borrowings 0 (1)
Provision for credit losses 13 2,805
Changes in operating assets and liabilities:    
Customer and other receivables and payables, net 11,010 (24,045)
Collateralized transactions (excluding other secured financings), net (88,832) (21,080)
Trading assets (1,815) (50,937)
Trading liabilities 50,065 53,306
Loans held for sale, net (1,780) 2,264
Other, net (14,005) (148)
Net cash used for operating activities (23,976) (29,742)
Cash flows from investing activities    
Purchase of property, leasehold improvements and equipment (3,548) (4,906)
Proceeds from sales of property, leasehold improvements and equipment 3,111 1,272
Net cash used for business acquisitions 0 (226)
Purchase of investments (31,998) (37,516)
Proceeds from sales and paydowns of investments 40,127 23,200
Loans (excluding loans held for sale), net (24,219) (7,257)
Net cash used for investing activities (16,527) (25,433)
Cash flows from financing activities    
Unsecured short-term borrowings, net 1,342 6,567
Other secured financings (short-term), net (635) 1,629
Proceeds from issuance of other secured financings (long-term) 3,661 6,016
Repayment of other secured financings (long-term), including the current portion (4,922) (2,019)
Purchase of Trust Preferred securities 0 (11)
Proceeds from issuance of unsecured long-term borrowings 68,798 36,120
Repayment of unsecured long-term borrowings, including the current portion (38,370) (41,042)
Derivative contracts with a financing element, net 477 1,022
Deposits, net 74,612 70,654
Preferred stock redemption (2,675) (350)
Common stock repurchased (4,700) (1,928)
Settlement of share-based awards in satisfaction of withholding tax requirements (984) (829)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards (1,903) (1,744)
Proceeds from issuance of preferred stock, net of issuance costs 1,423 349
Other financing, net 367 396
Net cash provided by financing activities 96,491 74,830
Net increase in cash and cash equivalents 55,988 19,655
Cash and cash equivalents, beginning balance 155,842 133,546
Cash and cash equivalents, ending balance 211,830 153,201
Supplemental disclosures:    
Cash payments for interest, net of capitalized interest 4,394 7,648
Cash payments for income taxes, net $ 4,769 $ 1,904