Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net income (loss) $ (276) [1] $ 1,483 [1]
Reconciliation of net income (loss) to net cash provided by operating activities:    
Provision for credit losses 1,009 [1] 1,713 [1]
Gains on sales of debt securities (377) (68)
Debit valuation adjustments on structured liabilities (197) 90
Depreciation and premises improvements amortization 390 411
Amortization of intangibles 239 [1] 276 [1]
Net amortization of premium/discount on debt securities 667 340
Deferred income taxes (732) (146)
Originations and purchases of loans held-for-sale (10,024) (20,060)
Proceeds from sales and paydowns of loans originally designated as held-for-sale 8,026 21,266
Net decrease in trading and derivative instruments 13,536 22,642
Net (increase) decrease in other assets (3,319) 11,028
Net increase (decrease) in accrued expenses and other liabilities 13,337 (14,528)
Other operating activities, net 444 2,021
Net cash provided by operating activities 22,723 26,468
Investing activities    
Net (increase) decrease in time deposits placed and other short-term investments (1,253) 5,954
Net increase in federal funds sold and securities borrowed or purchased under agreements to resell (24,971) (699)
Proceeds from sales of debt securities carried at fair value 31,106 15,375
Proceeds from paydowns and maturities of debt securities carried at fair value 17,870 21,455
Purchases of debt securities carried at fair value (63,679) (33,577)
Proceeds from paydowns and maturities of held-to-maturity debt securities 1,326 2,567
Purchases of held-to-maturity debt securities (1,447) (2,713)
Proceeds from sales of loans and leases 4,508 751
Purchases of loans and leases (2,473) (9,089)
Other changes in loans and leases, net 8,767 719
Net sales (purchases) of premises and equipment (266) 55
Proceeds from sales of foreclosed properties 164 262
Proceeds from sales of investments 994 674
Other investing activities, net (61) (64)
Net cash provided by (used in) investing activities (29,415) 1,670
Financing activities    
Net increase (decrease) in deposits 14,379 (10,078)
Net increase (decrease) in federal funds purchased and securities loaned or sold under agreements to repurchase 5,002 (45,110)
Net increase in short-term borrowings 5,410 11,467
Proceeds from issuance of long-term debt 19,245 20,194
Retirement of long-term debt (15,255) (12,556)
Proceeds from issuance of preferred stock 0 12
Common stock repurchased (1,442) 0
Cash dividends paid (344) (482)
Excess tax benefits on share-based payments 34 12
Other financing activities, net (12) (11)
Net cash provided by (used in) financing activities 27,017 (36,552)
Effect of exchange rate changes on cash and cash equivalents (2) (1,358)
Net increase (decrease) in cash and cash equivalents 20,323 (9,772)
Cash and cash equivalents at January 1 131,322 110,752
Cash and cash equivalents at March 31 $ 151,645 $ 100,980
[1] There were no material intersegment revenues.