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Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income before noncontrolling interests $ 455,052 $ 240,396
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 57,052 46,540
Gains on investment securities, net [1] (45,172) (20,341)
Distributions of earnings from non-marketable and other equity securities [1] 27,409 27,214
Depreciation and amortization 28,902 26,268
Amortization of premiums and discounts on investment securities, net (478) 1,747
Amortization of share-based compensation 22,467 19,095
Amortization of deferred loan fees (65,606) (51,869)
Deferred income tax benefit (18,594) (9,827)
Excess tax benefit from exercise of stock options and vesting of restricted shares (14,488) (13,028)
Losses from the write-off of premises and equipment 7,006 0
Other gains 0 (3,858)
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (28,213) (8,852)
Accounts receivable and payable, net (10,169) (6,227)
Income tax receivable and payable, net (21,076) 840
Accrued compensation (55,814) (51,636)
Foreign exchange spot contracts, net 68,870 159,607
Other, net (26,060) 41,200
Net cash provided by operating activities 347,380 396,721
Cash flows from investing activities:    
Purchases of available-for-sale securities (390,758) (1,174,666)
Proceeds from sales of available-for-sale securities 0 5,024
Proceeds from maturities and paydowns of available-for-sale securities 1,775,568 1,715,291
Purchases of held-to-maturity securities (4,067,389) (2,298,290)
Proceeds from maturities and paydowns of held-to-maturity securities 935,820 806,386
Purchases of non-marketable and other securities (28,099) (9,488)
Proceeds from sales and distributions of capital of non-marketable and other securities [1] 75,139 23,765
Net increase in loans (2,855,537) (1,066,056)
Purchases of premises and equipment (14,851) (21,496)
Net cash used for investing activities (4,570,107) (2,019,530)
Cash flows from financing activities:    
Net increase in deposits 4,633,220 3,485,423
Net decrease in short-term borrowings (616,484) (512,198)
Principal payments of long-term debt 0 (46,235)
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (14,725) (9,603)
Proceeds from issuance of common stock, ESPP and ESOP 9,742 13,916
Net cash provided by financing activities 4,011,753 2,931,303
Net (decrease) increase in cash and cash equivalents (210,974) 1,308,494
Cash and cash equivalents at beginning of period 2,923,075 2,545,750
Cash and cash equivalents at end of period 2,712,101 3,854,244
Cash paid during the period for:    
Interest 27,730 22,293
Income taxes 193,682 137,371
Noncash items during the period:    
Changes in unrealized gains and losses on available-for-sale securities, net of tax (52,855) (8,047)
Distributions of stock from investments 3,136 2,514
Equity warrant assets    
Adjustments to reconcile net income to net cash provided by operating activities:    
Changes in fair values of derivatives, net (24,940) (9,053)
Derivative    
Adjustments to reconcile net income to net cash provided by operating activities:    
Changes in fair values of derivatives, net $ (8,768) $ 8,505
[1] During the first quarter of 2018 we adopted ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This guidance was adopted on a retrospective basis and impacted the presentation between investing and operating activities related to distributions and net gains from our nonmarketable and other securities portfolio. 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.