Bank of New York Mellon Corp
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Cash Flows (unaudited)
The Bank of New York Mellon Corporation (and its subsidiaries)
Consolidated Statement of Cash Flows(unaudited)
| Three months ended March 31, | ||
|---|---|---|
| (in millions) | 2024 | 2023 |
| Operating activities | ||
| Net income (a) | $1,027 | $982 |
| Net (income) loss attributable to noncontrolling interests | (2) | — |
| Net income applicable to shareholders of The Bank of New York Mellon Corporation (a) | 1,025 | 982 |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: | ||
| Provision for credit losses | 27 | 27 |
| Pension plan contributions | (2) | (1) |
| Depreciation and amortization | 468 | 351 |
| Deferred tax expense | 13 | 2 |
| Net securities losses | 1 | 1 |
| Change in trading assets and liabilities | (3,264) | 989 |
| Change in accruals and other, net (a) | (948) | (559) |
| Net cash (used for) provided by operating activities | (2,680) | 1,792 |
| Investing activities | ||
| Change in interest-bearing deposits with banks | (280) | (25) |
| Change in interest-bearing deposits with the Federal Reserve and other central banks | (8,698) | (24,908) |
| Purchases of securities held-to-maturity | (243) | (273) |
| Paydowns of securities held-to-maturity | 965 | 1,063 |
| Maturities of securities held-to-maturity | 708 | 811 |
| Purchases of securities available-for-sale | (18,770) | (8,917) |
| Sales of securities available-for-sale | 1,160 | 6,581 |
| Paydowns of securities available-for-sale | 1,191 | 904 |
| Maturities of securities available-for-sale | 4,498 | 5,229 |
| Net change in loans | (6,777) | 3,714 |
| Change in federal funds sold and securities purchased under resale agreements | (766) | (2,599) |
| Net change in seed capital investments | 45 | 6 |
| Purchases of premises and equipment/capitalized software | (299) | (261) |
| Other, net | 525 | 923 |
| Net cash (used for) investing activities | (26,741) | (17,752) |
| Financing activities | ||
| Change in deposits | 27,030 | 760 |
| Change in federal funds purchased and securities sold under repurchase agreements | 603 | 14,231 |
| Change in payables to customers and broker-dealers | 997 | (826) |
| Change in other borrowed funds | (160) | 2,141 |
| Net proceeds from the issuance of long-term debt | 2,496 | 1,498 |
| Repayments, redemptions and repurchases of long-term debt | (1,150) | (1,750) |
| Issuance of common stock | 4 | 3 |
| Treasury stock acquired | (988) | (1,256) |
| Common cash dividends paid | (324) | (304) |
| Preferred cash dividends paid | (72) | (71) |
| Other, net | (3) | (13) |
| Net cash provided by financing activities | 28,433 | 14,413 |
| Effect of exchange rate changes on cash | (142) | 41 |
| Change in cash and due from banks and restricted cash | ||
| Change in cash and due from banks and restricted cash | (1,130) | (1,506) |
| Cash and due from banks and restricted cash at beginning of period | 8,342 | 11,529 |
| Cash and due from banks and restricted cash at end of period | $7,212 | $10,023 |
| Cash and due from banks and restricted cash | ||
| Cash and due from banks at end of period (unrestricted cash) | $5,305 | $5,564 |
| Restricted cash at end of period | 1,907 | 4,459 |
| Cash and due from banks and restricted cash at end of period | $7,212 | $10,023 |
| Supplemental disclosures | ||
| Interest paid | $4,955 | $2,671 |
| Income taxes paid | 132 | 160 |
| Income taxes refunded | 12 | 2 |
(a)Prior period was restated to reflect the retrospective application of adopting new accounting guidance related to our investments in renewable energy projects using the proportional amortization method (ASU 2023-02). See Note 2 of the Notes to Consolidated Financial Statements for additional information.
BNY Mellon 51
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