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Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income before noncontrolling interests [2],[3],[4],[5] $ 284,811 [1] $ 348,865 [6]
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 66,368 [1] 19,051
Provision for unfunded credit commitments 249 [1] 5,533
Changes in fair values of derivatives, net (42,295) 2,028
Gains on investment securities, net (77,006) [1] (172,236)
Depreciation and amortization [3] 28,504 29,273
Amortization of premiums and discounts on investment securities, net 14,659 18,700
Amortization of share-based compensation 24,174 22,285
Amortization of deferred loan fees (64,275) (59,550)
Pre-tax net gain on SVBIF sale transaction (1,287) 0
Deferred income tax expense (benefit) 3,131 (18,916)
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (6,312) (17,488)
Accounts receivable and payable, net (13,159) (12,890)
Income tax payable and receivable, net [3] (29,398) (14,234)
Accrued compensation (7,702) (24,241)
Foreign exchange spot contracts, net 7,522 97,357
Other, net 57,445 12,837
Net cash provided by operating activities 245,429 236,374
Cash flows from investing activities:    
Purchases of available-for-sale securities (2,911,486) (8,060,750)
Proceeds from sales of available-for-sale securities 7,762 26,926
Proceeds from maturities and pay downs of available-for-sale securities 1,238,950 1,352,369
Purchases of held-to-maturity securities (2,057,030) (1,577,634)
Proceeds from maturities and pay downs of held-to-maturity securities 1,153,363 327,913
Purchases of non-marketable and other securities (cost and equity method accounting) (15,856) (47,923)
Proceeds from sales and distributions of non-marketable and other securities (cost and equity method accounting) 79,575 47,478
Purchases of non-marketable and other securities (fair value accounting) (5,611) (182,247)
Proceeds from sales and distributions of non-marketable and other securities (fair value accounting) 77,289 264,389
Net increase in loans (911,694) (1,103,447)
Proceeds from recoveries of charged-off loans 5,119 5,313
Effect of deconsolidation of noncontrolling interest 15,995 0
Purchases of premises and equipment (37,465) (29,332)
Net proceeds from SVBIF sale transaction (2) [7] 39,284 0
Net cash used for investing activities (3,321,805) (8,976,945)
Cash flows from financing activities:    
Net increase in deposits 2,626,379 8,650,156
Net (decrease) increase in short-term borrowings (4,025) 1,550
Net distributions to noncontrolling interests (58,315) (37,984)
Tax benefit from stock exercises 10,813 7,973
Proceeds from issuance of common stock, ESPP, and ESOP 18,224 17,768
Net proceeds from public equity offering 0 434,866
Proceeds from issuance of 3.50% Senior Notes 346,431 0
Net cash provided by financing activities 2,939,507 9,074,329
Net (decrease) increase in cash and cash equivalents (136,869) 333,758
Cash and cash equivalents at beginning of period 1,796,062 1,538,779 [3],[7]
Cash and cash equivalents at end of period 1,674,145 1,872,537 [3]
Cash and cash equivalents, including discontinued operations, at beginning of period [3] 1,811,014  
Cash and cash equivalents, including discontinued operations, at end of period [3] 1,674,145  
Cash paid during the period for:    
Interest 62,129 30,259
Income taxes 182,479 154,746
Noncash items during the period:    
Changes in unrealized gains and losses on available-for-sale securities, net of tax 57,605 47,758
Distributions of stock from investments 24,778 21,385
Transfers from available-for-sale securities to held-to-maturity $ 0 $ 5,418,572
[1] Amounts for the nine months ended September 30, 2015, have been revised to reflect the retrospective application of new accounting guidance adopted in the second quarter of 2015 related to our consolidated variable interest entities (ASU 2015-02). Amounts prior to January 1, 2015 have not been revised for the adoption of this guidance. See Note 1— "Basis of Presentation” of the “Notes to Interim Consolidated Financial Statements (unaudited)” under Part I, Item 1 of this report for additional details.
[2] Amounts for the nine months ended September 30, 2015, have been revised to reflect the retrospective application of new accounting guidance adopted in the second quarter of 2015 related to our consolidated variable interest entities (ASU 2015-02). Amounts prior to January 1, 2015 have not been revised for the adoption of this guidance. See Note 1— "Basis of Presentation” of the “Notes to Interim Consolidated Financial Statements (unaudited)” under Part I, Item 1 of this report for additional details.
[3] Cash flows for the nine months ended September 30, 2015 were revised to reflect the adoption of ASU 2015-02 as of January 1, 2015 and cash flows for the nine months ended September 30, 2014 were revised to reflect the retrospective application of our adoption of ASU 2014-01.
[4] Prior period amounts have been revised to reflect the retrospective application of new accounting guidance adopted in the first quarter of 2015 related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 1— "Basis of Presentation" of the "Notes to Interim Consolidated Financial Statements" under Part I, Item 1 in this report.
[5] Prior period amounts have been revised to reflect the retrospective application of new accounting guidance adopted in the first quarter of 2015 related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 1— "Basis of Presentation" of the "Notes to Interim Consolidated Financial Statements" under Part I, Item 1 in this report.
[6] Prior period amounts have been revised to reflect the retrospective application of new accounting guidance adopted in the first quarter of 2015 related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 1— "Basis of Presentation" of the "Notes to Interim Consolidated Financial Statements" under Part I, Item 1 in this report.
[7] Cash and cash equivalents at December 31, 2014 included $15.0 million recognized in assets held-for-sale in conjunction with the SVBIF Sale Transaction. On April 13, 2015 we received net proceeds of $39.3 million consisting of the sales price of $48.6 million less $9.3 million of cash and cash equivalents held by SVBIF that were sold.