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Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income before noncontrolling interests $ 394,514 $ 286,624
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses [1] 70,062 90,225
Changes in fair values of derivatives, net 8,214 (4,370)
Gains on investment securities, net 48,838 41,764
Depreciation and amortization 39,265 35,114
Amortization of premiums and discounts on investment securities, net 2,609 9,622
Amortization of share-based compensation 27,739 22,342
Amortization of deferred loan fees (81,060) (72,807)
Deferred income tax benefit 2,325 (6,839)
Gain from sale of equity valuation services business (2,393) 0
Excess Tax Benefit from Share-based Compensation, Operating Activities [2] (14,399) 0
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (26,092) 1,169
Accounts receivable and payable, net 4,120 (12,872)
Income tax receivable and payable, net 30,069 13,181
Accrued compensation (11,731) (48,740)
Foreign exchange spot contracts, net 86,911 1,803
Other, net 16,383 20,821
Net cash provided by operating activities 468,032 273,004
Cash flows from investing activities:    
Purchases of available-for-sale securities (2,420,741) 0
Proceeds from sales of available-for-sale securities 7,311 2,879,409
Proceeds from maturities and pay downs of available-for-sale securities 2,434,039 1,002,523
Purchases of held-to-maturity securities (3,812,782) (225,526)
Proceeds from maturities and pay downs of held-to-maturity securities 1,283,764 1,206,367
Purchases of non-marketable and other securities (18,713) (41,925)
Proceeds from sales and distributions of non-marketable and other securities 88,809 54,420
Net increase in loans (2,263,600) (2,365,640)
Purchases of premises and equipment (35,470) (37,184)
Proceeds from sale of equity valuation services business 3,000 0
Net cash (used for) provided by investing activities (4,734,383) 2,472,444
Cash flows from financing activities:    
Net increase (decrease) in deposits 5,832,165 (953,360)
Net decrease in short-term borrowings (507,828) (772,479)
Repayments of Other Long-term Debt (46,235) 0
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (18,216) (8,236)
Tax effect from stock exercises (1) [2] 0 (6,300)
Proceeds from issuance of common stock, ESPP and ESOP 16,286 12,989
Net cash provided by (used for) financing activities 5,276,172 (1,727,386)
Net increase in cash and cash equivalents 1,009,821 1,018,062
Cash and cash equivalents at beginning of period 2,545,750 1,503,257
Cash and cash equivalents at end of period 3,555,571 2,521,319
Cash paid during the period for:    
Interest 41,324 39,317
Income taxes 190,706 186,474
Noncash items during the period:    
Changes in unrealized gains and losses on available-for-sale securities, net of tax (7,491) 86,347
Distributions of stock from investments 5,360 750
Equity warrant assets    
Adjustments to reconcile net income to net cash provided by operating activities:    
Changes in fair values of derivatives, net $ (29,666) $ (20,505)
[1] Our consolidated statements of income for the three and nine months ended September 30, 2016 were modified from prior period's presentation to conform to the current period's presentation, which reflects our provision for loan losses and provision for unfunded credit commitments together as our “provision for credit losses”. In prior periods, our provision for unfunded credit commitments were reported as a component of noninterest expense.
[2] During the first quarter of 2017 we adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. This guidance was adopted on a prospective basis with no change to prior period amounts. 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.