Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.8.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 18,232 $ 17,822 $ 15,910
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 3,396 3,597 3,161
Gains on sales of debt securities (255) (490) (1,138)
Depreciation and premises improvements amortization 1,482 1,511 1,555
Amortization of intangibles 621 730 834
Net amortization of premium/discount on debt securities 2,251 3,134 2,613
Deferred income taxes 8,175 5,793 2,967
Stock-based compensation 1,649 1,367 (89)
Loans held-for-sale:      
Originations and purchases (43,506) (33,107) (37,933)
Proceeds from sales and paydowns of loans originally classified as held-for-sale 40,059 31,376 36,204
Net change in:      
Trading and derivative instruments (13,939) (866) 2,550
Other assets (19,859) (13,802) 2,645
Accrued expenses and other liabilities 4,673 (35) 730
Other operating activities, net 7,424 1,331 (1,612)
Net cash provided by operating activities 10,403 18,361 28,397
Net change in:      
Time deposits placed and other short-term investments (1,292) (2,117) 50
Federal funds sold and securities borrowed or purchased under agreements to resell (14,523) (5,742) (659)
Debt securities carried at fair value:      
Proceeds from sales 73,353 71,547 137,569
Proceeds from paydowns and maturities 93,874 108,592 92,498
Purchases (166,975) (189,061) (219,412)
Held-to-maturity debt securities:      
Proceeds from paydowns and maturities 16,653 18,677 12,872
Purchases (25,088) (39,899) (36,575)
Loans and leases:      
Proceeds from sales 11,761 18,230 22,316
Purchases (6,846) (12,283) (12,629)
Other changes in loans and leases, net (41,104) (31,194) (51,895)
Other investing activities, net 8,180 107 294
Net cash used in investing activities (52,007) (63,143) (55,571)
Net change in:      
Deposits 48,611 63,675 78,347
Federal funds purchased and securities loaned or sold under agreements to repurchase 7,024 (4,000) (26,986)
Short-term borrowings 8,538 (4,014) (3,074)
Long-term debt:      
Proceeds from issuance 53,486 35,537 43,670
Retirement of long-term debt (49,553) (51,849) (40,365)
Preferred stock: Proceeds from issuance 0 2,947 2,964
Common stock repurchased (12,814) (5,112) (2,374)
Cash dividends paid (5,700) (4,194) (3,574)
Other financing activities, net (397) (63) (73)
Net cash provided by financing activities 49,195 32,927 48,535
Effect of exchange rate changes on cash and cash equivalents 2,105 240 (597)
Net increase (decrease) in cash and cash equivalents 9,696 (11,615) 20,764
Cash and cash equivalents at January 1 147,738 159,353 138,589
Cash and cash equivalents at December 31 157,434 147,738 159,353
Supplemental cash flow disclosures      
Interest paid 12,852 10,510 10,623
Income taxes paid 3,297 1,633 2,326
Income taxes refunded $ (62) $ (590) $ (151)