JP Morgan Chase 2015 Annual Report Download - page 190

Consolidated statements of cash flows
180 JPMorgan Chase & Co./2015 Annual Report
Year ended December 31, (in millions) 2015 2014 2013
Operating activities
Net income $ 24,442 $ 21,745 $ 17,886
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Provision for credit losses 3,827 3,139 225
Depreciation and amortization 4,940 4,759 5,306
Deferred tax expense 1,333 4,362 8,139
Other 1,785 2,113 1,552
Originations and purchases of loans held-for-sale (48,109) (67,525) (75,928)
Proceeds from sales, securitizations and paydowns of loans held-for-sale 49,363 71,407 73,566
Net change in:
Trading assets 62,212 (24,814) 89,110
Securities borrowed 12,165 1,020 7,562
Accrued interest and accounts receivable 22,664 (3,637) (2,340)
Other assets (3,701) (9,166) 526
Trading liabilities (28,972) 26,818 (9,772)
Accounts payable and other liabilities (23,361) 6,058 (5,750)
Other operating adjustments (5,122) 314 (2,129)
Net cash provided by operating activities 73,466 36,593 107,953
Investing activities
Net change in:
Deposits with banks 144,462 (168,426) (194,363)
Federal funds sold and securities purchased under resale agreements 3,190 30,848 47,726
Held-to-maturity securities:
Proceeds from paydowns and maturities 6,099 4,169 189
Purchases (6,204) (10,345) (24,214)
Available-for-sale securities:
Proceeds from paydowns and maturities 76,448 90,664 89,631
Proceeds from sales 40,444 38,411 73,312
Purchases (70,804) (121,504) (130,266)
Proceeds from sales and securitizations of loans held-for-investment 18,604 20,115 12,033
Other changes in loans, net (108,962) (51,749) (23,721)
All other investing activities, net 3,703 2,181 (828)
Net cash provided by/(used in) investing activities 106,980 (165,636) (150,501)
Financing activities
Net change in:
Deposits (88,678) 89,346 81,476
Federal funds purchased and securities loaned or sold under repurchase agreements (39,415) 10,905 (58,867)
Commercial paper and other borrowed funds (57,828) 9,242 2,784
Beneficial interests issued by consolidated variable interest entities (5,632) (834) (10,433)
Proceeds from long-term borrowings 79,611 78,515 83,546
Payments of long-term borrowings (67,247) (65,275) (60,497)
Proceeds from issuance of preferred stock 5,893 8,847 3,873
Redemption of preferred stock —— (1,800)
Treasury stock and warrants repurchased (5,616) (4,760) (4,789)
Dividends paid (7,873) (6,990) (6,056)
All other financing activities, net (726) (768) (913)
Net cash provided by/(used in) financing activities (187,511) 118,228 28,324
Effect of exchange rate changes on cash and due from banks (276) (1,125) 272
Net decrease in cash and due from banks (7,341) (11,940) (13,952)
Cash and due from banks at the beginning of the period 27,831 39,771 53,723
Cash and due from banks at the end of the period $ 20,490 $ 27,831 $ 39,771
Cash interest paid $ 7,220 $ 8,194 $ 9,573
Cash income taxes paid, net 9,423 1,392 3,502
The Notes to Consolidated Financial Statements are an integral part of these statements.