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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Cash flows from operating activities:      
Net income before noncontrolling interests $ 374,820 [1],[2],[3],[4] $ 478,660 [2],[3],[4],[5],[6] $ 544,783 [2],[3],[4],[5],[6]
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 97,629 59,486 63,693
(Reduction of) Provision for unfunded credit commitments (1,946) 6,511 7,642
Changes in fair values of derivatives, net (53,470) (22,139) (31,508)
Gains on investment securities, net (89,445) (267,023) (419,408)
Depreciation and amortization 40,008 39,345 [5] 36,260 [5]
Impairment loss on SVBIF Sale Transaction 0 13,934 0
Impairment (gain) loss on SVBIF Sale Transaction (1,287) 13,934 0
Amortization of premiums and discounts on available-for-sale securities, net 18,271 25,311 29,774
Amortization of share-based compensation 32,239 29,545 25,413
Amortization of deferred loan fees (89,384) (82,724) (73,008)
Deferred income tax (benefit) expense (9,133) (43,110) [5] 15,050 [5]
Changes in other assets and liabilities:      
Accrued interest receivable and payable, net (8,397) (26,642) (3,241)
Accounts receivable and payable, net (24,029) (302) (21)
Income tax payable and receivable, net (9,857) (4,804) (24,811)
Accrued compensation 30,293 3,707 22,925
Foreign exchange spot contracts, net (31,159) 25,725 2,086
Other, net 64,660 20,037 (23,851)
Net cash provided by operating activities 339,813 255,517 171,778
Cash flows from investing activities:      
Purchases of available-for-sale securities (4,586,680) (8,462,071) (3,336,476)
Proceeds from sales of available-for-sale securities 8,054 30,398 14,753
Proceeds from maturities and pay downs of available-for-sale securities 1,704,918 1,569,173 2,428,023
Purchases of held-to-maturity securities (2,888,805) (2,612,848) 0
Proceeds from maturities and paydowns of held-to-maturity securities 1,495,362 598,454 0
Purchases of nonmarketable securities (cost and equity method accounting) (32,427) (60,202) (24,847)
Proceeds from sales of nonmarketable securities (cost and equity method accounting) 89,826 59,442 58,828
Purchases of non-marketable and other securities (fair value accounting) (7,028) (275,640) (149,707)
Proceeds from sales and distributions of non-marketable and other securities (fair value accounting) 48,627 436,170 132,931
Net increase in loans (2,335,153) (3,480,531) (1,943,650)
Proceeds from recoveries of charged-off loans 5,593 6,155 11,161
Purchases of premises and equipment (53,918) (42,431) (30,004)
Effect of deconsolidation due to adoption of ASU 2015-02 15,995 0 0
Net proceeds from SVBIF sale transaction 39,284 [7] 0 0
Net cash used for investing activities (6,496,352) (12,233,931) (2,838,988)
Cash flows from financing activities:      
Net increase in deposits 4,719,738 11,870,520 3,296,527
Increase (decrease) in short-term borrowings 767,119 2,701 (161,030)
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (23,518) (89,186) 8,114
Tax benefit from stock exercises 16,602 9,602 6,826
Proceeds from issuance of common stock, ESPP, and ESOP 22,410 22,146 46,569
Proceeds from issuance of 3.50% Senior Notes 346,431 0 0
Net proceeds from public equity offering 0 434,866 0
Net cash provided by financing activities 5,848,782 12,250,649 3,197,006
Net increase (decrease) in cash and cash equivalents (307,757) 272,235 529,796
Cash and cash equivalents at beginning of period 1,796,062 1,538,779 [7] 1,008,983
Cash and cash equivalents at end of period 1,503,257 1,796,062 1,538,779 [7]
Cash and cash equivalents, at end of period, including discontinued operations 1,503,257 1,811,014 [7]  
Cash paid during the period for:      
Interest 35,280 35,181 31,913
Income taxes 220,484 208,558 142,231
Noncash items during the period:      
Changes in unrealized gains and losses on available-for-sale securities, net of tax (22,692) 66,520 (154,013)
Distributions Of Stock From Investments 64,503 [8] 20,621 1,116
Transfers from available-for-sale securities to held-to-maturity 0 $ 5,418,572 $ 0
Distributions of stock from investments to NCI $ 41,500    
[1] During the second quarter of 2015 we adopted new accounting guidance 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 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[2] During the second quarter of 2015 we adopted new accounting guidance 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 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[3] 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 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[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 2— "Summary of Significant Accounting Policies” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[5] Cash flows for the years ended December 31, 2014 and 2013 were revised to reflect the retrospective application of our adoption of ASU 2014-01.
[6] See Note 2— "Summary of Significant Accounting Policies-Adoptions of New Accounting Standards” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 of this report for additional details.
[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.
[8] For the year ended December 31, 2015, includes distributions to our noncontrolling interests of $41.5 million.