Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 601

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 601
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 shares at 12/31/2024 and 96,266,568 shares at 12/31/2023(6,066)(6,032)Total shareholders’ equity6,543 6,406 Total liabilities and shareholders’ equity$8,624 $7,476 STATEMENTS OF INCOME - COMERICA INCORPORATED(in millions) Years Ended December 31202420232022IncomeIncome from subsidiaries:Dividends from subsidiaries$200 $677 $1,067 Other interest income58 53 13 Intercompany management fees85 75 109 Total income343 805 1,189 ExpensesInterest on medium- and long-term debt124 79 47 Salaries and benefits expense71 62 53 Other noninterest expenses15 13 46 Total expenses210 154 146 Income before benefit for income taxes and equity in undistributed earnings of subsidiaries133 651 1,043 Benefit for income taxes(11)(2)(3)Income before equity in undistributed earnings of subsidiaries144 653 1,046 Equity in undistributed earnings of subsidiaries, principally banks554 228 105 Net income698 881 1,151 Less income allocated to participating securities4 4 6 Preferred stock dividends23 23 23 Net income attributable to common shares$671 $854 $1,122 

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Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTSComerica Incorporated and Subsidiaries

STATEMENTS OF CASH FLOWS - COMERICA INCORPORATED(in millions)   Years Ended December 31202420232022Operating ActivitiesNet income$698 $881 $1,151 Adjustments to reconcile net income to net cash provided by operating activities:Undistributed earnings of subsidiaries, principally banks(554)(228)(105)Net periodic defined benefit cost1 1 2 Share-based compensation expense20 18 22 Benefit for deferred income taxes(8)(2)— Other, net21 28 24 Net cash provided by operating activities178 698 1,094 Investing ActivitiesInvestment securities available-for-sale:Maturities and redemptions70 — — Purchases(103)— — Advance to subsidiary bank (850)— — Repayment of subsidiary advance— 150 — Other, net —