Parent Company Financial Statements

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Statements

PARENT COMPANY FINANCIAL STATEMENTS

The following tables present the Parent Company only financial statements:

Condensed Parent Company Only Balance Sheets (dollars in millions)

	December 31, 2017		December 31, 2016
Assets:
Cash and deposits	$	311.0	$	1,172.8
Cash held at bank subsidiary	465.8		15.4
Securities purchased under agreements to resell	150.0		—
Investment securities	—		400.3
Receivables from nonbank subsidiaries	2,340.3		9,172.9
Receivables from bank subsidiaries	449.4		34.7
Investment in nonbank subsidiaries	2,943.3		3,597.4
Investment in bank subsidiaries	5,121.5		5,187.9
Goodwill	46.9		261.4
Other assets	723.6		2,217.7
Total Assets	$	12,551.8	$	22,060.5
Liabilities and Equity:
Borrowings	$	3,737.5	$	10,599.0
Liabilities to nonbank subsidiaries	1,148.0		907.9
Liabilities to bank subsidiaries	—		4.6
Other liabilities	346.3		546.3
Total Liabilities	5,231.8		12,057.8
Total Stockholders' Equity	7,320.0		10,002.7
Total Liabilities and Equity	$	12,551.8	$	22,060.5

Condensed Parent Company Only Statements of Income and Comprehensive Income (dollars in millions)

	Years Ended Years Ended December 31,
	2017			2016			2015
Income
Interest income from nonbank subsidiaries	$	160.5		$	488.3		$	435.1
Interest and dividends on interest bearing deposits and investments	7.4			2.7			3.2
Dividends from nonbank subsidiaries	—			399.9			630.3
Dividends from bank subsidiaries	359.0			223.0			459.2
Other non-interest income from subsidiaries	194.0			146.3			(138.8		)
Other non-interest income	(127.9		)	21.0			128.8
Total income	593.0			1,281.2			1,517.8
Expenses
Interest expense	324.7			548.2			570.7
Interest expense on liabilities to subsidiaries	50.3			51.1			43.9
Other non-interest expenses	499.4			565.0			267.2
Total expenses	874.4			1,164.3			881.8
(Loss) income before income taxes and equity in undistributed net income of subsidiaries	(281.4		)	116.9			636.0
Provision (benefit) for income taxes	163.4			(308.5		)	(827.2		)
(Loss) income before equity in undistributed net income of subsidiaries	(444.8		)	425.4			1,463.2
Equity in undistributed net income of bank subsidiaries	(55.6		)	(349.8		)	(265.1		)
Equity in undistributed net income of nonbank subsidiaries	968.6			(923.6		)	(164.0		)
Net income (loss)	468.2			(848.0		)	1,034.1
Other Comprehensive income (loss), net of tax	53.6			2.0			(8.2		)
Comprehensive income (loss)	$	521.8		$	(846.0	)	$	1,025.9

Condensed Parent Company Only Statements of Cash Flows (dollars in millions)

	Years Ended Years Ended December 31,
	2017			2016			2015
Cash Flows From Operating Activities:
Net income (loss)	$	468.2		$	(848.0	)	$	1,034.1
Equity in undistributed earnings of subsidiaries	(1,272.0		)	650.4			429.1
Other operating activities, net	621.5			69.0			(566.4		)
Net cash flows (used in) provided by operations	(182.3		)	(128.6		)	896.8
Cash Flows From Investing Activities:
Decrease in investments in subsidiaries	2,096.7			1,023.1			620.1
Acquisitions	—			—			(1,559.5		)
Decrease (increase) in Investment securities and securities purchased under agreements to resell	250.3			(100.2		)	1,454.1
Net cash flows provided by investing activities	2,347.0			922.9			514.7
Cash Flows From Financing Activities:
Repayments of term debt	(7,087.7		)	(359.5		)	(1,256.7		)
Net proceeds from issuance of preferred stock	318.0			—			—
Repurchase of common stock	(3,431.9		)	—			(531.8		)
Dividends paid	(113.7		)	(123.0		)	(114.9		)
Net change in advances from (to) subsidiaries	7,759.9			(131.5		)	91.0
Other financing activities, net	(20.7		)	(21.9		)	(22.2		)
Net cash flows used in financing activities	(2,576.1		)	(635.9		)	(1,834.6		)
Net (decrease) increase in cash and cash equivalents	(411.4		)	158.4			(423.1		)
Cash and cash equivalents, beginning of period	1,188.2			1,029.8			1,452.9
Cash and cash equivalents, end of period	$	776.8		$	1,188.2		$	1,029.8