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
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities    
Net income (loss) $ 1,783 [1] $ 7,992 [1]
Reconciliation of net income (loss) to net cash provided by operating activities:    
Provision for credit losses 2,056 [1] 3,220 [1]
Gains on sales of debt securities (1,191) (881)
Depreciation and premises improvements amortization 1,172 1,201
Amortization of intangibles 708 [1] 820 [1]
Net amortization of premium/discount on debt securities 1,675 1,280
Deferred income taxes 554 2,810
Originations and purchases of loans held-for-sale (28,652) (55,561)
Proceeds from sales and paydowns of loans originally classified as held-for-sale 29,458 62,549
Net decrease in trading and derivative instruments 13,009 33,899
Net (increase) decrease in other assets (7,853) 35,319
Net increase (decrease) in accrued expenses and other liabilities 14,794 (14,059)
Other operating activities, net (462) 2,234
Net cash provided by operating activities 27,051 80,823
Investing activities    
Net decrease in time deposits placed and other short-term investments 3,681 4,245
Net (increase) decrease in federal funds sold and securities borrowed or purchased under agreements to resell (32,982) 7,917
Proceeds from sales of debt securities carried at fair value 107,419 78,405
Proceeds from paydowns and maturities of debt securities carried at fair value 60,255 69,731
Purchases of debt securities carried at fair value (199,442) (113,244)
Proceeds from paydowns and maturities of held-to-maturity debt securities 5,250 7,039
Purchases of held-to-maturity debt securities (10,742) (12,363)
Proceeds from sales of loans and leases 20,422 9,267
Purchases of loans and leases (8,070) (16,844)
Other changes in loans and leases, net 21,379 (30,921)
Net purchases of premises and equipment (684) (353)
Proceeds from sales of foreclosed properties 644 852
Proceeds from sales of investments 1,557 4,220
Other investing activities, net (629) (641)
Net cash provided by (used in) investing activities (31,942) 7,310
Financing activities    
Net increase (decrease) in deposits (7,290) 4,857
Net increase (decrease) in federal funds purchased and securities loaned or sold under agreements to repurchase 19,819 (66,985)
Net increase (decrease) in short-term borrowings (12,724) 10,038
Proceeds from issuance of long-term debt 46,917 32,680
Retirement of long-term debt (44,623) (47,936)
Proceeds from issuance of preferred stock 4,561 1,008
Redemption of preferred stock 0 (6,461)
Common stock repurchased (1,675) (1,869)
Cash dividends paid (1,469) (1,316)
Excess tax benefits on share-based payments 34 12
Other financing activities, net (37) (19)
Net cash provided by (used in) financing activities 3,513 (75,991)
Effect of exchange rate changes on cash and cash equivalents (1,285) (1,661)
Net increase (decrease) in cash and cash equivalents (2,663) 10,481
Cash and cash equivalents at January 1 131,322 110,752
Cash and cash equivalents at June 30, 2014 $ 128,659 $ 121,233
[1] There were no material intersegment revenues.