Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 201

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 201
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16 — — (750)Cash dividends declared on common stock— — — — (2,770)— — (2,770)Cash dividends declared on preferred stock— — — — (365)— — (365)Equity-based compensation expense— — — 292 — — — 292 Sale of remaining stake in TIH— — — — — — (190)(190)Other, net— — — 77 — — 16 93 Balance, December 31, 20241,315,936 $5,907 $6,580 $35,628 $23,777 $(8,213)$— $63,679 

The accompanying notes are an integral part of these consolidated financial statements.

Truist Financial Corporation   93

CONSOLIDATED STATEMENTS OF CASH FLOWS(1)

TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES(Dollars in millions)Year Ended December 31,202420232022Cash Flows From Operating Activities:  Net income (loss)$4,840 $(1,047)$6,267 Adjustments to reconcile net income to net cash from operating activities:  Provision for credit losses1,870 2,109 777 Depreciation613 688 783 Amortization of intangibles366 527 583 Goodwill impairment— 6,078 — Securities (gains) losses6,651 — 71 Gain on sale of TIH, net of tax(4,841)— — Net change in operating assets and liabilities:  LHFS(381)213 2,479 Loan servicing rights(104)(28)(813)Pension asset(675)(2,024)1,399 Derivative assets and liabilities(587)409 3,836 Trading assets(768)573 (482)Investments in affordable housing projects and other qualified tax credits(1,028)(884)(532)Other assets and other liabilities(4,611)2,012 (902)Other, net819 5 (2,385)Net cash from operating activities2,164 8,631 11,081 Cash Flows From Investing Activities:  Proceeds from sales of AFS securities27