FIRST HORIZON CORP

For the period ended Dec 31, 2024. Filed Feb 27, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 27, 2025

FHN$23.56+0.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

ITEM 8. FINANCIAL STATEMENTS & SUPPLEMENTARY DATA
Table of Contents	CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollars in millions)	2024	2023	2022
Operating Activities
Net income	$794	$916	$912
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	150	260	95
Deferred income tax expense (benefit)	(17)	44	91
Depreciation and amortization of premises and equipment	55	55	59
Amortization of intangible assets	44	47	51
Net other amortization and accretion	2	—	(25)
Net decrease in trading securities (a)	1,011	1,163	2,120
Net (increase) decrease in derivatives	(2)	(314)	524
Stock-based compensation expense	59	36	75
Securities (gains) losses, net	89	4	(18)
Net (gains) losses on sale/disposal of fixed assets	(3)	—	(1)
Gain on divestiture	—	(9)	—
Gain on BOLI	(5)	(7)	(9)
Loans held for sale:
Purchases and originations	(2,758)	(2,295)	(3,728)
Gross proceeds from settlements and sales	1,792	1,183	2,310
(Gain) loss due to fair value adjustments and other	(75)	(12)	107
Other operating activities, net	132	228	(272)
Total adjustments	474	383	1,379
Net cash provided by operating activities	1,268	1,299	2,291
Investing Activities
Proceeds from sales of securities available for sale	1,155	—	—
Proceeds from maturities of securities available for sale	831	856	1,351
Purchases of securities available for sale	(1,538)	(261)	(2,767)
Purchases of securities held to maturity	—	—	(712)
Proceeds from prepayments of securities held to maturity	57	53	55
Proceeds from sales of premises and equipment	8	1	18
Purchases of premises and equipment	(44)	(37)	(28)
Proceeds from BOLI	13	14	22
Net increase in loans and leases	(1,337)	(3,303)	(3,204)
Net (increase) decrease in interest-bearing deposits with banks	(209)	56	13,523
Cash received for divestitures	—	11	—
Other investing activities, net	6	5	75
Net cash (used in) provided by investing activities	(1,058)	(2,605)	8,333
Financing Activities
Common stock:
Stock options exercised	9	5	36
Cash dividends paid	(332)	(335)	(324)
Repurchase of shares	(626)	(10)	(12)
Preferred stock:
Preferred stock issuance	—	—	494
Call of preferred stock	(100)	—	—
Cash dividends paid - preferred stock - noncontrolling interest	(19)	(17)	(11)
Cash dividends paid - preferred stock	(29)	(32)	(32)
Net (decrease) increase in deposits	(201)	2,289	(11,406)

ITEM 8. FINANCIAL STATEMENTS & SUPPLEMENTARY DATA
Table of Contents	CONSOLIDATED STATEMENTS OF CASH FLOWS

Supplemental Disclosures
Net increase in short-term borrowings	851	43	382
Net increase (decrease) in term borrowings	43	(449)	4
Net cash (used in) provided by financing activities	(404)	1,494	(10,869)
Net (decrease) increase in cash and cash equivalents	(194)	188	(245)
Cash and cash equivalents at beginning of period	1,731	1,543	1,788
Cash and cash equivalents at end of period	$1,537	$1,731	$1,543
Total interest paid	$1,869	$1,428	$280
Total taxes paid	106	123	20
Total taxes refunded	7	19	7
Transfer from loans to OREO	3	4	3
Transfer from loans HFS to trading securities	992	1,212	1,893
Transfer from loans to loans HFS	—	7	—
Preferred stock conversion to common stock	—	493	—

(a) Includes transfers from loans HFS to trading securities.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.