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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities:    
Net income (loss) $ 19,753 $ (193,350)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock option expense 3,026 2,402
Restricted stock expense 3,511 6,141
Gain on extinguishment of debt   (1,096)
Amortization of deferred loan fees and discounts (40,869) (38,771)
Paid-in-kind interest on loans 29,804 6,143
Provision for loan losses 46,332 244,202
Provision for unfunded commitments   (510)
Amortization of deferred financing fees and discounts 15,956 30,925
Depreciation and amortization 74 523
Provision for deferred income taxes 50,354 25,066
Non-cash (gain) loss on investments, net (35,708) 478
Gain on assets acquired through business combination   (3,724)
Non-cash loss on foreclosed assets and other property and equipment disposals 17,765 57,302
Unrealized loss (gain) on derivatives and foreign currencies, net 2,130 (13,110)
Accretion of discount on commercial real estate "A" participation interest   (8,222)
Decrease in interest receivable 19,276 20,367
Decrease in loans held for sale, net 200,950 7,507
Decrease (increase) in other assets 72,029 (6,095)
Decrease in other liabilities (76,566) (35,537)
Cash provided by operating activities 327,817 100,641
Investing activities:    
Decrease in restricted cash 27,330 26,125
Decrease in commercial real estate "A" participation interest, net   368,324
Decrease in loans, net 364,546 343,501
Assets acquired through business combination, net of cash acquired   (98,800)
Cash received for real estate   339,643
Reduction (acquisition) of marketable securities, available for sale, net 94,790 (542,526)
Reduction of marketable securities, held to maturity, net 54,689 46,304
Reduction of other investments, net 23,683 20,352
Acquisition of property and equipment, net (7,094) (757)
Cash provided by investing activities 557,944 502,166
Financing activities:    
Payment of deferred financing fees   (4,430)
Deposits accepted, net of repayments 164,517 86,892
Repayments on credit facilities, net (68,792) (206,696)
Borrowings of term debt   14,784
Repayments and extinguishment of term debt (282,985) (710,160)
Borrowings under (repayments of) other borrowings 67,958 (233,154)
Proceeds from exercise of options 804 347
Payment of dividends (6,447) (6,485)
Cash used in financing activities (124,945) (1,058,902)
Increase (decrease) in cash and cash equivalents 760,816 (456,095)
Cash and cash equivalents as of beginning of period 820,450 1,177,020
Cash and cash equivalents as of end of period 1,581,266 720,925
Noncash transactions from investing and financing activities:    
Third-party assumption of debt   203,679
Assets acquired through foreclosure $ 10,911 $ 74,643