Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.6.0.2
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income $ 17,906 $ 15,836 $ 5,520
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 3,597 3,161 2,275
Gains on sales of debt securities (490) (1,138) (1,481)
Realized debit valuation adjustments on structured liabilities 17 556 0
Depreciation and premises improvements amortization 1,511 1,555 1,586
Amortization of intangibles 730 834 936
Net amortization of premium/discount on debt securities 3,134 2,613 1,699
Deferred income taxes 5,841 2,924 1,147
Stock-based compensation 1,235 28 78
Loans held-for-sale:      
Originations and purchases (33,107) (37,933) (39,358)
Proceeds from sales and paydowns of loans originally classified as held-for-sale 31,376 36,204 38,528
Net change in:      
Trading and derivative instruments (866) 2,550 5,866
Other assets (13,802) 2,645 5,894
Accrued expenses and other liabilities (35) 730 9,702
Other operating activities, net 1,259 (2,218) (1,597)
Net cash provided by operating activities 18,306 28,347 30,795
Net change in:      
Time deposits placed and other short-term investments (2,117) 50 4,030
Federal funds sold and securities borrowed or purchased under agreements to resell (5,742) (659) (1,495)
Debt securities carried at fair value:      
Proceeds from sales 79,371 145,079 126,399
Proceeds from paydowns and maturities 100,768 84,988 79,704
Purchases (189,061) (219,412) (247,902)
Held-to-maturity debt securities:      
Proceeds from paydowns and maturities 18,677 12,872 7,889
Purchases (39,899) (36,575) (13,274)
Loans and leases:      
Proceeds from sales 18,230 22,316 28,765
Purchases (12,283) (12,629) (10,609)
Other changes in loans and leases, net (31,194) (51,895) 19,160
Proceeds from sales of equity investments 299 333 1,577
Other investing activities, net (192) (39) (2,504)
Net cash used in investing activities (63,143) (55,571) (8,260)
Net change in:      
Deposits 63,675 78,347 (335)
Federal funds purchased and securities loaned or sold under agreements to repurchase (4,000) (26,986) 3,171
Short-term borrowings (4,014) (3,074) (14,827)
Long-term debt:      
Proceeds from issuance 35,537 43,670 51,573
Retirement of long-term debt (51,849) (40,365) (53,749)
Preferred stock: Proceeds from issuance 2,947 2,964 5,957
Common stock repurchased (5,112) (2,374) (1,675)
Cash dividends paid (4,194) (3,574) (2,306)
Excess tax benefits on share-based payments 14 16 34
Other financing activities, net (22) (39) (44)
Net cash provided by (used in) financing activities 32,982 48,585 (12,201)
Effect of exchange rate changes on cash and cash equivalents 240 (597) (3,067)
Net increase (decrease) in cash and cash equivalents (11,615) 20,764 7,267
Cash and cash equivalents at January 1 159,353 138,589 131,322
Cash and cash equivalents at December 31 147,738 159,353 138,589
Supplemental cash flow disclosures      
Interest paid 10,510 10,623 11,082
Income taxes paid 1,633 2,326 2,558
Income taxes refunded $ (590) $ (151) $ (144)