Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Cash Flows

v3.25.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 7,396 $ 6,674
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,480 1,319
(Gains) losses on sales of debt securities 2 (10)
Depreciation and amortization 565 538
Net accretion of discount/premium on debt securities (85) (352)
Deferred income taxes (172) (512)
Amortization of stock-based compensation 999 865
Net change in:    
Trading and derivative assets/liabilities (10,970) (23,795)
Loans held-for-sale 2,599 (2,574)
Other assets 4,165 (6,026)
Accrued expenses and other liabilities (8,179) 6,907
Other operating activities, net 16 1,427
Net cash used in operating activities (2,184) (15,539)
Investing activities    
Time deposits placed and other short-term investments (910) 487
Federal funds sold and securities borrowed or purchased under agreements to resell (53,656) (32,969)
Debt securities carried at fair value:    
Proceeds from sales 26,392 16,266
Proceeds from paydowns and maturities 20,719 93,060
Purchases (72,075) (157,726)
Held-to-maturity debt securities:    
Proceeds from paydowns and maturities 7,666 7,407
Loans and leases:    
Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities 2,232 2,170
Purchases (9,379) (1,303)
Other changes in loans and leases, net (9,200) 2,100
Other investing activities, net (799) (814)
Net cash used in investing activities (89,010) (71,322)
Financing activities    
Deposits 24,097 22,669
Federal funds purchased and securities loaned or sold under agreements to repurchase 44,312 45,771
Short-term borrowings (1,921)  
Short-term borrowings   6,797
Long-term debt:    
Proceeds from issuance 33,640 15,662
Retirement (16,333) (16,607)
Preferred stock:    
Redemption (2,669) 0
Common stock repurchased (4,521) (2,500)
Cash dividends paid (2,552) (2,519)
Other financing activities, net (1,221) (615)
Net cash provided by financing activities 72,832 68,658
Effect of exchange rate changes on cash and cash equivalents 1,827 (1,466)
Net decrease in cash and cash equivalents (16,535) (19,669)
Cash and cash equivalents at January 1 290,114 333,073
Cash and cash equivalents at March 31 $ 273,579 $ 313,404