Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows

v3.22.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 7,067 $ 8,050
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 30 (1,860)
Gains on sales of debt securities (7) 0
Depreciation and amortization 494 461
Net amortization of premium/discount on debt securities 905 1,530
Deferred income taxes 47 566
Stock-based compensation 739 853
Loans held-for-sale:    
Originations and purchases (6,832) (8,253)
Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities 12,934 9,383
Net change in:    
Trading and derivative assets/liabilities (64,939) (53,756)
Other assets (14,876) (23,477)
Accrued expenses and other liabilities 19,820 12,186
Other operating activities, net (812) 1,989
Net cash used in operating activities (45,430) (52,328)
Investing activities    
Time deposits placed and other short-term investments 1,499 (1,313)
Federal funds sold and securities borrowed or purchased under agreements to resell (51,388) 44,911
Debt securities carried at fair value:    
Proceeds from sales 2,341 491
Proceeds from paydowns and maturities 29,654 37,105
Purchases (35,661) (79,075)
Held-to-maturity debt securities:    
Proceeds from paydowns and maturities 21,496 31,703
Purchases (19,599) (169,930)
Loans and leases:    
Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities 2,042 2,263
Purchases (1,624) (1,053)
Other changes in loans and leases, net (16,193) 22,585
Other investing activities, net (975) (767)
Net cash used in investing activities (68,408) (113,080)
Financing activities    
Deposits 7,878 89,458
Federal funds purchased and securities loaned or sold under agreements to repurchase 22,356 29,120
Short-term borrowings 1,036 2,403
Long-term debt:    
Proceeds from issuance 21,123 13,132
Retirement (8,241) (13,991)
Preferred stock:    
Proceeds from issuance 2,429 902
Redemption 0 (1,093)
Common stock repurchased (2,650) (3,470)
Cash dividends paid (2,222) (2,114)
Other financing activities, net (823) (720)
Net cash provided by financing activities 40,886 113,627
Effect of exchange rate changes on cash and cash equivalents (1,335) (2,581)
Net decrease in cash and cash equivalents (74,287) (54,362)
Cash and cash equivalents at January 1 348,221 380,463
Cash and cash equivalents at March 31 $ 273,934 $ 326,101