Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows

v3.20.2
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 12,424 $ 20,436
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 11,267 2,649
Gains on sales of debt securities (379) (116)
Depreciation and amortization 1,356 1,290
Net amortization of premium/discount on debt securities 2,636 1,419
Deferred income taxes (1,994) 1,789
Stock-based compensation 1,597 1,495
Impairment of equity method investment 0 2,072
Loans held-for-sale:    
Originations and purchases (11,093) (18,732)
Proceeds from sales and paydowns of loans originally classified as held for sale and instruments from related securitization activities 15,654 19,350
Net change in:    
Trading and derivative assets/liabilities (25,503) (30,541)
Other assets (15,078) 613
Accrued expenses and other liabilities (9,495) (4,053)
Other operating activities, net 2,007 5,003
Net cash provided by (used in) operating activities (16,601) 2,674
Investing activities    
Time deposits placed and other short-term investments 2,019 (63)
Federal funds sold and securities borrowed or purchased under agreements to resell (52,148) (10,464)
Debt securities carried at fair value:    
Proceeds from sales 61,485 43,845
Proceeds from paydowns and maturities 61,973 57,868
Purchases (148,905) (110,658)
Held-to-maturity debt securities:    
Proceeds from paydowns and maturities 63,097 22,832
Purchases (126,710) (9,825)
Loans and leases:    
Proceeds from sales of loans originally classified as held for investment and instruments from related securitization activities 10,041 9,757
Purchases (3,972) (4,016)
Other changes in loans and leases, net 11,810 (34,439)
Other investing activities, net (2,473) (2,188)
Net cash used in investing activities (123,783) (37,351)
Financing activities    
Deposits 268,077 11,360
Federal funds purchased and securities loaned or sold under agreements to repurchase 25,660 15,079
Short-term borrowings   10,493
Short-term borrowings (6,353)  
Long-term debt:    
Proceeds from issuance 40,858 45,149
Retirement (37,123) (42,842)
Preferred stock:    
Proceeds from issuance 1,098 3,643
Redemption (1,072) (2,363)
Common stock repurchased (6,762) (20,396)
Cash dividends paid (5,899) (4,086)
Other financing activities, net (603) (794)
Net cash provided by financing activities 277,881 15,243
Effect of exchange rate changes on cash and cash equivalents 1,949 (876)
Net increase (decrease) in cash and cash equivalents 139,446 (20,310)
Cash and cash equivalents at January 1 161,560 177,404
Cash and cash equivalents at September 30 $ 301,006 $ 157,094