Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 47

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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36 (7)Share-based compensation— — — 27 — — — 27BALANCE AT MARCH 31, 2025$394 131.2 $1,141 $2,198 $(2,695)$12,093 $(6,079)$7,052

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

Three Months Ended March 31,(in millions)20252024OPERATING ACTIVITIESNet income$172 $138 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses20 14 Provision (benefit) for deferred income taxes4 (7)Depreciation and amortization25 22 Net periodic defined benefit credit(10)(12)Share-based compensation expense27 27 Net (accretion) amortization of securities(10)4 Net losses on sales of foreclosed property and other bank property2 — Net change in:Accrued income receivable13 9 Accrued expenses payable(152)(164)Other, net182 (236)Net cash provided by (used in) operating activities273 (205)INVESTING ACTIVITIESInvestment securities available-for-sale:Maturities and redemptions287 385 Purchases— (34)Net change in loans605 1,275 Proceeds from sales of foreclosed property and other bank property2 — Net increase in premises and equipment(7)(40)Federal Home Loan Bank stock:Purchases(17)— Redemptions41 146 Proceeds from bank-owned life insurance settlements1 7 Other, net1 — Net cash provided by investing activities913 1,739 FINANCING ACTIVITIESNet change in:Deposits(2,264)(3,225)Short-term borrowings1,225 (3,565)Medium- and long-term debt:Maturities and redemptions(1,000)— Issuances and advances— 1,000 Cash dividends paid on preferred stock(6)(6)Common