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Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income before noncontrolling interests $ 736,417 $ 394,514
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 74,226 70,062
Gains on investment securities, net [1] (77,365) (31,032)
Distributions of earnings from non-marketable and other equity securities [1] 54,605 38,965
Depreciation and amortization 43,389 39,265
Amortization of premiums and discounts on investment securities, net (252) 2,609
Amortization of share-based compensation 33,968 27,739
Amortization of deferred loan fees (94,771) (81,060)
Deferred income tax (benefit) expense (16,532) 2,325
Excess tax benefit from exercise of stock options and vesting of restricted shares (17,543) (14,399)
Losses from the write-off of premises and equipment 7,117 0
Other gains 0 (6,150)
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (51,521) (26,092)
Accounts receivable and payable, net 1,697 4,120
Income tax receivable and payable, net (12,962) 30,069
Accrued compensation 5,505 (11,731)
Foreign exchange spot contracts, net 86,298 86,911
Other, net (46,874) 16,410
Net cash provided by operating activities 703,904 521,073
Cash flows from investing activities:    
Purchases of available-for-sale securities (662,458) (2,420,741)
Proceeds from sales of available-for-sale securities 0 7,311
Proceeds from maturities and paydowns of available-for-sale securities 2,529,666 2,434,039
Purchases of held-to-maturity securities (4,726,595) (3,812,782)
Proceeds from maturities and paydowns of held-to-maturity securities 1,482,204 1,283,764
Purchases of non-marketable and other securities (56,435) (18,766)
Proceeds from sales and distributions of capital of non-marketable and other securities [1] 83,020 35,821
Net increase in loans (4,356,980) (2,263,600)
Purchases of premises and equipment (28,718) (35,470)
Proceeds from sale of equity valuation services business 0 3,000
Net cash used for investing activities (5,736,296) (4,787,424)
Cash flows from financing activities:    
Net increase in deposits 4,342,036 5,832,165
Net increase (decrease) in short-term borrowings 1,597,522 (507,828)
Principal payments of long-term debt 0 (46,235)
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (22,785) (18,216)
Proceeds from issuance of common stock, ESPP and ESOP 11,685 16,286
Net cash provided by financing activities 5,928,458 5,276,172
Net increase in cash and cash equivalents 896,066 1,009,821
Cash and cash equivalents at beginning of period 2,923,075 2,545,750
Cash and cash equivalents at end of period 3,819,141 3,555,571
Cash paid during the period for:    
Interest 54,681 41,324
Income taxes 277,388 190,706
Noncash items during the period:    
Changes in unrealized gains and losses on available-for-sale securities, net of tax (70,763) (7,491)
Distributions of stock from investments 4,368 5,360
Equity warrant assets    
Adjustments to reconcile net income to net cash provided by operating activities:    
Changes in fair values of derivatives, net (24,462) (29,666)
Derivative    
Adjustments to reconcile net income to net cash provided by operating activities:    
Changes in fair values of derivatives, net $ 2,964 $ 8,214
[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.