Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income $ 27,430 $ 28,147 $ 18,232
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 3,590 3,282 3,396
Gains on sales of debt securities (217) (154) (255)
Depreciation and amortization 1,729 2,063 2,103
Net amortization of premium/discount on debt securities 2,066 1,824 2,251
Deferred income taxes 2,435 3,041 8,175
Stock-based compensation 1,974 1,729 1,649
Impairment of equity method investment 2,072 0 0
Loans held-for-sale:      
Originations and purchases (28,874) (28,071) (43,506)
Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities 30,191 28,972 40,548
Net change in:      
Trading and derivative assets/liabilities 7,920 (23,673) (14,663)
Other assets (11,113) 11,920 (20,090)
Accrued expenses and other liabilities 16,363 13,010 4,673
Other operating activities, net 6,211 (2,570) 7,351
Net cash provided by operating activities 61,777 39,520 9,864
Net change in:      
Time deposits placed and other short-term investments 387 3,659 (1,292)
Federal funds sold and securities borrowed or purchased under agreements to resell (13,466) (48,384) (14,523)
Debt securities carried at fair value:      
Proceeds from sales 52,006 5,117 73,353
Proceeds from paydowns and maturities 79,114 78,513 93,874
Purchases (152,782) (76,640) (166,975)
Held-to-maturity debt securities:      
Proceeds from paydowns and maturities 34,770 18,789 16,653
Purchases (37,115) (35,980) (25,088)
Loans and leases:      
Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities 12,201 21,365 11,996
Purchases (5,963) (4,629) (6,846)
Other changes in loans and leases, net (46,808) (31,292) (41,104)
Other investing activities, net (2,974) (1,986) 8,411
Net cash used in investing activities (80,630) (71,468) (51,541)
Net change in:      
Deposits 53,327 71,931 48,611
Federal funds purchased and securities loaned or sold under agreements to repurchase (21,879) 10,070 7,024
Short-term borrowings 4,004 (12,478) 8,538
Long-term debt:      
Proceeds from issuance 52,420 64,278 53,486
Retirement (50,794) (53,046) (49,480)
Preferred stock:      
Proceeds from issuance 3,643 4,515 0
Redemption (2,568) (4,512) 0
Common stock repurchased (28,144) (20,094) (12,814)
Cash dividends paid (5,934) (6,895) (5,700)
Other financing activities, net (698) (651) (397)
Net cash provided by financing activities 3,377 53,118 49,268
Effect of exchange rate changes on cash and cash equivalents (368) (1,200) 2,105
Net increase (decrease) in cash and cash equivalents (15,844) 19,970 9,696
Cash and cash equivalents at January 1 177,404 157,434 147,738
Cash and cash equivalents at December 31 161,560 177,404 157,434
Supplemental Cash Flow Information [Abstract]      
Interest paid 22,196 19,087 12,852
Income taxes paid, net $ 4,359 $ 2,470 $ 3,235