Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows

v3.21.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 8,050 $ 4,010
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (1,860) 4,761
Gains on sales of debt securities 0 (315)
Depreciation and amortization 461 432
Net amortization of premium/discount on debt securities 1,530 482
Deferred income taxes 566 (229)
Stock-based compensation 853 543
Loans held-for-sale:    
Originations and purchases (8,253) (6,078)
Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities 9,383 7,397
Net change in:    
Trading and derivative assets/liabilities (53,756) 29,615
Other assets (23,477) (21,022)
Accrued expenses and other liabilities 12,186 (588)
Other operating activities, net 1,989 35
Net cash provided by (used in) operating activities (52,328) 19,043
Investing activities    
Time deposits placed and other short-term investments (1,313) (5,176)
Federal funds sold and securities borrowed or purchased under agreements to resell 44,911 (27,372)
Debt securities carried at fair value:    
Proceeds from sales 491 9,977
Proceeds from paydowns and maturities 37,105 16,708
Purchases (79,075) (18,131)
Held-to-maturity debt securities:    
Proceeds from paydowns and maturities 31,703 11,933
Purchases (169,930) (7,132)
Loans and leases:    
Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities 2,263 2,050
Purchases (1,053) (1,982)
Other changes in loans and leases, net 22,585 (69,667)
Other investing activities, net (767) (1,619)
Net cash used in investing activities (113,080) (90,411)
Financing activities    
Deposits 89,458 148,522
Federal funds purchased and securities loaned or sold under agreements to repurchase 29,120 4,934
Short-term borrowings 2,403 5,904
Long-term debt:    
Proceeds from issuance 13,132 18,728
Retirement (13,991) (7,843)
Preferred stock:    
Proceeds from issuance 902 1,098
Redemption (1,093) (1,072)
Common stock repurchased (3,470) (6,362)
Cash dividends paid (2,114) (2,083)
Other financing activities, net (720) (679)
Net cash provided by financing activities 113,627 161,147
Effect of exchange rate changes on cash and cash equivalents (2,581) (949)
Net increase (decrease) in cash and cash equivalents (54,362) 88,830
Cash and cash equivalents at January 1 380,463 161,560
Cash and cash equivalents at March 31 $ 326,101 $ 250,390