v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 1,094 $ 1,582 $ 1,759
Adjustments to reconcile net income to net cash from operating activities:      
Provision for credit losses (1) 1,330 387 229
Depreciation, amortization and accretion, net 421 426 462
Securities (gains) losses, net (4) 28 (1)
(Gain) on sale of business 0 0 281
Deferred income tax expense (benefit) (158) 62 226
Originations and purchases of loans held for sale (6,634) (4,381) (3,351)
Proceeds from sales of loans held for sale 5,865 4,144 3,451
(Gain) loss on sale of loans, net (241) (124) (73)
Loss on early extinguishment of debt 22 16 0
Net change in operating assets and liabilities:      
Other earning assets 313 158 116
Interest receivable and other assets (246) (347) 171
Other liabilities 459 453 (470)
Other 103 177 37
Net cash from operating activities 2,324 2,581 2,275
Investing activities:      
Proceeds from maturities of debt securities held to maturity 209 148 174
Proceeds from sales of debt securities available for sale 304 5,372 254
Proceeds from maturities of debt securities available for sale 4,921 3,532 3,383
Purchases of debt securities available for sale (8,956) (8,102) (3,410)
Net proceeds from (payments for) bank-owned life insurance (1) (8) (4)
Proceeds from sales of loans 256 471 307
Purchases of loans (1,558) (1,561) (612)
Net change in loans 546 859 (3,272)
Payments to Acquire Mortgage Servicing Rights (MSR) (59) (24) (71)
Net purchases of other assets (134) (178) (151)
Proceeds from disposition of a business, net of cash transferred 0 0 357
Payments to Acquire Businesses, Net of Cash Acquired (381) 0 0
Net cash from investing activities (4,853) 509 (3,045)
Financing activities:      
Net change in deposits 25,004 2,984 (2,398)
Net change in short-term borrowings (2,050) 450 1,100
Proceeds from long-term borrowings 4,698 21,274 21,750
Payments on long-term borrowings (10,918) (25,926) (17,451)
Net proceeds from issuance of preferred stock 346 490 0
Cash dividends on common stock (595) (577) (452)
Cash dividends on preferred stock (103) (79) (64)
Repurchases of common stock 0 (1,101) (2,122)
Taxes paid related to net share settlement of equity awards (8) (29) (35)
Other (3) 0 (1)
Net cash from financing activities 16,371 (2,514) 327
Net change in cash and cash equivalents 13,842 576 (443)
Cash and cash equivalents at beginning of year 4,114 3,538 3,981
Cash and cash equivalents at end of year $ 17,956 $ 4,114 $ 3,538