v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net income (loss) $ 522 $ 405
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 106 118
Depreciation, amortization, and accretion, net (5) 3
Increase in cash surrender value of corporate-owned life insurance (30) (29)
Stock-based compensation expense 31 30
Deferred income taxes (benefit) 53 30
Proceeds from sales of loans held for sale 2,237 1,725
Originations of loans held for sale, net of repayments (2,010) (1,702)
Net losses (gains) on sales of loans held for sale (36) (30)
Net losses (gains) on leased equipment 1 4
Net change in:    
Trading account assets 278 (13)
Accrued income and other assets (643) (189)
Accrued expense and other liabilities (520) (792)
Other operating activities, net (46) 300
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (62) (140)
INVESTING ACTIVITIES    
Net decrease (increase) in short-term investments, excluding acquisitions (1,619) 2,155
Purchases of securities available for sale (1,378) (3,970)
Proceeds from sales of securities available for sale 650 0
Proceeds from prepayments and maturities of securities available for sale 1,201 1,509
Proceeds from prepayments and maturities of held-to-maturity securities 377 236
Purchases of held-to-maturity securities (869) 0
Net decrease (increase) in other investments (255) (7)
Net decrease (increase) in loans, excluding acquisitions, sales and transfers (2,745) (679)
Proceeds from sales of portfolio loans 35 36
Proceeds from corporate-owned life insurance 23 19
Purchases of premises, equipment, and software (12) (10)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (4,592) (711)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits (898) 977
Net increase (decrease) in short-term borrowings 5,099 206
Net proceeds from issuance of long-term debt 1,059 833
Payments on long-term debt (74) (701)
Open market Common Share repurchases (389) 0
Employee equity compensation program Common Share repurchases (46) (35)
Net proceeds from reissuance of Common Shares 5 2
Cash dividends paid (259) (265)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 4,497 1,017
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS (157) 166
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD 1,287 1,743
CASH AND DUE FROM BANKS AT END OF PERIOD 1,130 1,909
Additional disclosures relative to cash flows:    
Interest paid 754 938
Income taxes paid (refunded) 43 (1)
Noncash items:    
Reduction of secured borrowing and related collateral 0 1
Loans transferred to portfolio from held for sale 13 0
Loans transferred to held for sale from portfolio 0 6
Loans transferred to OREO $ 1 $ 2