v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Income (loss) from continuing operations, net of tax $ 5,201 $ (2,859)
Income (loss) from discontinued operations, net of tax (7) (14)
Net income (loss) 5,194 (2,873)
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 7,057 13,799
Depreciation and amortization, net 3,095 1,823
Deferred tax provision 311 (2,262)
Stock-based compensation expense 346 402
Other, net 24 68
Loans held for sale:    
Originations and purchases (1,932) (2,297)
Proceeds from sales and paydowns 2,495 2,394
Changes in operating assets and liabilities:    
Changes in interest receivable 63 85
Changes in other assets (1,591) (717)
Changes in interest payable (28) (125)
Changes in other liabilities (567) 538
Net change from discontinued operations 0 (102)
Net cash from operating activities 14,467 10,733
Investment securities available for sale:    
Purchases (9,729) (6,627)
Proceeds from paydowns and maturities 9,542 8,910
Proceeds from sales 662 1
Investment securities held to maturity:    
Purchases (2,498) 0
Proceeds from paydowns and maturities 34 0
Proceeds from sales of securities related to the Transaction 0 9,696
Net changes in loans originated as held for investment (10,483) (9,619)
Changes in premises and equipment (920) (747)
Net cash (used) received in acquisitions (2,201) 16,464
Net cash used in other investing activities (873) (762)
Net cash from (used in) investing activities (16,466) 17,316
Financing activities:    
Changes in deposits 8,469 (1,468)
Issuance of long-term debt 2,988 1,742
Maturities and paydowns of long-term debt (8,860) (9,008)
Changes in other borrowings (397) 173
Common stock:    
Net proceeds from issuances 258 204
Dividends paid (1,002) (622)
Preferred stock:    
Dividends paid (130) (122)
Redemptions 0 (500)
Purchases of treasury stock (5,540) (542)
Proceeds from share-based payment activities 1 1
Net cash used in financing activities (4,213) (10,142)
Changes in cash, cash equivalents and restricted cash for securitization investors (6,212) 17,907
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period 62,093 43,671
Cash, cash equivalents and restricted cash for securitization investors, end of the period 55,881 61,578
Supplemental cash flow information:    
Interest paid 7,941 6,604
Income taxes paid 742 221
Reissuance of treasury stock, issuance of preferred stock and stock-based compensation awards related to acquisitions $ 1,891 $ 51,790