Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 49

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 2024$394 132.6 $1,141 $2,210 $(3,463)$11,867 $(5,988)$6,161BALANCE AT DECEMBER 31, 2024$394 131.4 $1,141 $2,218 $(3,161)$12,017 $(6,066)$6,543Net income— — — — — 371 — 371Other comprehensive income, net of tax— — — — 662 — — 662Cash dividends declared on common stock ($1.42 per share)— — — — — (186)— (186)Cash dividends declared on preferred stock— — — — — (11)— (11)Purchase of common stock— (2.5)— (1)— — (150)(151)Redemption of preferred stock(394)— — — — (6)— (400)Net issuance of common stock under employee stock plans— 0.8 — (53)— — 50 (3)Share-based compensation— — — 35 — — — 35BALANCE AT JUNE 30, 2025$— 129.7 $1,141 $2,199 $(2,499)$12,185 $(6,166)$6,860

See notes to consolidated financial statements (unaudited).

(a)Effective January 1, 2024, the Corporation adopted ASU 2023-02, which expanded the permitted use of the proportional amortization method to certain tax credit investments.

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Table of ContentsCONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)Comerica Incorporated and Subsidiaries

Six Months Ended June 30,(in millions)20252024OPERATING ACTIVITIESNet income$371 $344 Adjustments to reconcile net income to net cash provided by (used in) operating activities:Provision for credit losses64 14 Provision (benefit) for deferred income taxes11 (1)Depreciation and amortization50 47 Net periodic defined benefit credit(20)(24)Share-based compensation expense35 36 Net (accretion) amortization of securities(19)6 Net gains on sales of foreclosed property and other