Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 53

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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,366BALANCE AT DECEMBER 31, 2024$394 131.4 $1,141 $2,218 $(3,161)$12,017 $(6,066)$6,543Net income— — — — — 547 — 547Other comprehensive income, net of tax— — — — 900 — — 900Cash dividends declared on common stock ($2.13 per share)— — — — — (277)— (277)Cash dividends declared on preferred stock— — — — — (11)— (11)Purchase of common stock— (4.7)— (2)— — (300)(302)Issuance of preferred stock392 — — — — — — 392Redemption of preferred stock(394)— — — — (6)— (400)Net issuance of common stock under employee stock plans— 0.9 — (55)— (2)58 1Share-based compensation— — — 36 — — — 36BALANCE AT SEPTEMBER 30, 2025$392 127.6 $1,141 $2,197 $(2,261)$12,268 $(6,308)$7,429

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

Nine Months Ended September 30,(in millions)20252024OPERATING ACTIVITIESNet income$547 $528 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses86 28 Provision for deferred income taxes60 13 Depreciation and amortization74 70 Net periodic defined benefit credit(31)(36)Share-based compensation expense36 45 Net (accretion) amortization of securities(28)8 Net gains on sales of foreclosed property and other bank property(8)— Net change in:Accrued income receivable7 55 Accrued