v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 414 $ 354
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 17 18
Depreciation and amortization 57 63
Share-based compensation 23 24
Deferred income tax expense 31 17
Net decrease (increase) in trading securities (145) 24
Net decrease (increase) in loans held for sale (55) 5
Change in other liabilities (183) (17)
Change in other assets (9) 38
Other, net (33) (14)
Net cash provided by operating activities 117 512
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease (increase) in money market investments 1,382 (786)
Proceeds from maturities and paydowns of investment securities held-to-maturity 540 501
Purchases of investment securities held-to-maturity (27) (60)
Proceeds from sales, maturities, and paydowns of investment securities available-for-sale 956 1,051
Purchases of investment securities available-for-sale (777) (350)
Net change in loans and leases (1,033) (690)
Purchases and sales of other noninterest-bearing investments (132) (33)
Purchases of premises and equipment (58) (47)
Acquisition of California branches, net of cash acquired 191 0
Other, net (12) 7
Net cash provided by (used in) investing activities 1,030 (407)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in deposits (3,080) (1,191)
Net change in short-term borrowed funds 2,240 1,271
Proceeds from the issuance of common stock 4 0
Dividends paid on common and preferred stock (131) (143)
Bank common stock repurchased (41) (35)
Other, net (10) (6)
Net cash used in financing activities (1,018) (104)
Net increase in cash and due from banks 129 1
Cash and due from banks at beginning of period 651 716
Cash and due from banks at end of period 780 717
Cash paid for interest 829 940
Net cash paid for income taxes 114 90
Noncash activities:    
Loans held for investment reclassified to loans held for sale, net 63 100
Deposits acquired in purchase of California branches (at time of purchase) 657 0
Loans acquired in purchase of California branches, net (at time of purchase) $ 423 $ 0