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PARENT COMPANY ONLY FINANCIALS
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
PARENT COMPANY ONLY FINANCIALS
PARENT COMPANY ONLY FINANCIALS
CFG Parent Company
Condensed Statements of Operations
 
Year Ended December 31,
 (in millions)
2015

 
2014

 
2013

OPERATING INCOME:
 
 
 
 
 
Income from consolidated bank subsidiaries and associated banks, excluding equity in undistributed income:
 
 
 
 
 
       Dividends from banking subsidiaries

$345

 

$595

 

$210

       Interest
54

 
29

 
13

       Management and service fees
20

 
21

 
26

  Securities gains
3

 
—

 
—

  All other operating income
4

 
5

 
2

  Total operating income
426

 
650

 
251

OPERATING EXPENSE:
 
 
 
 
 
  Salaries and employee benefits
15

 
63

 
38

  Interest expense
108

 
80

 
24

  All other expenses
38

 
123

 
43

  Total operating expense
161

 
266

 
105

Income before taxes and undistributed income
265

 
384

 
146

  Applicable income taxes
(29
)
 
(77
)
 
(22
)
Income before undistributed income of subsidiaries and associated companies
294

 
461

 
168

Equity in undistributed income (losses) of subsidiaries and associated companies:
 
 
 
 
 
   Bank
543

 
402

 
(3,595
)
   Nonbank
3

 
2

 
1

Net income (loss)

$840

 

$865

 

($3,426
)
Other comprehensive income (loss), net of income taxes:
 
 
 
 
 
Net pension plan activity arising during the period

$1

 

$8

 

$17

Net unrealized derivative instrument gains arising during the period
2

 
—

 
1

Net unrealized securities (losses) gains arising during the period
(2
)
 
1

 
—

Other comprehensive income activity of the Parent Company Only, net of income taxes
1

 
9

 
18

Other comprehensive (loss) income activity of Bank subsidiaries, net of income taxes
(16
)
 
267

 
(354
)
Total other comprehensive (loss) income, net of income taxes
(15
)
 
276

 
(336
)
Total comprehensive income (loss)

$825

 

$1,141

 

($3,762
)

In accordance with federal and state banking regulations, dividends paid by the Company’s banking subsidiaries to the Company itself are generally limited to the retained earnings of the respective banking subsidiaries unless specifically approved by the appropriate bank regulator. The Company declared and paid total common stock dividends of $214 million in 2015, $806 million in 2014, and $1.2 billion in 2013.
CFG Parent Company
Condensed Balance Sheets
 (in millions)
December 31, 2015
 
December 31, 2014
ASSETS:
 
 
 
  Cash and due from banks

$531

 

$280

  Loans and advances to:
 
 
 
      Bank subsidiaries
1,725

 
1,685

  Investments in subsidiaries:
 
 
 
        Bank subsidiaries
19,865

 
19,512

        Nonbank subsidiaries
54

 
72

Balances due from RBS
6

 
—

  Other assets
154

 
214

TOTAL ASSETS

$22,335

 

$21,763

LIABILITIES:
 
 
 
  Long-term debt due to:
 
 
 
       Unaffiliated companies

$1,345

 

$350

       RBS
1,250

 
2,000

Balances due to RBS
3

 
2

Balances due to nonbank subsidiaries
1

 
—

  Other liabilities
90

 
143

TOTAL LIABILITIES
2,689

 
2,495

TOTAL STOCKHOLDERS’ EQUITY
19,646

 
19,268

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$22,335

 

$21,763


CFG Parent Company
Condensed Cash Flow Statements
 
Year Ended December 31,
 (in millions)
2015

 
2014

 
2013

OPERATING ACTIVITIES
 
 
 
 
 
Net income (loss)

$840

 

$865

 

($3,426
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
Deferred income taxes
49

 
27

 
(11
)
Gain on sales of assets
(3
)
 
—

 
—

Equity in undistributed (earnings) losses of subsidiaries
(546
)
 
(404
)
 
3,594

Net change in other liabilities
(48
)
 
18

 
7

Net change in other assets
(16
)
 
(74
)
 
15

Other operating, net
3

 
17

 
1

Total adjustments
(561
)
 
(416
)
 
3,606

Net cash provided by operating activities
279

 
449

 
180

INVESTING ACTIVITIES
 
 
 
 
 
Proceeds from sales of securities available for sale
8

 
—

 
—

Payments for investments in and advances to subsidiaries
(215
)
 
(1,470
)
 
(220
)
Sale or repayment of investments in and advances to subsidiaries
376

 
945

 
315

Other investing, net
—

 
(11
)
 
(1
)
Net cash (used) provided by investing activities
169

 
(536
)
 
94

FINANCING ACTIVITIES
 
 
 
 
 
Repayment of advances from subsidiaries
—

 
—

 
(289
)
Proceeds from issuance of long-term debt
1,000

 
1,000

 
1,000

Repayments of long-term debt
(750
)
 
—

 
—

Proceeds from issuance of common stock
27

 
13

 
—

Repurchase of common stock
(500
)
 
(334
)
 
—

Proceeds from issuance of preferred stock
247

 
—

 
—

Dividends paid
(221
)
 
(806
)
 
(1,185
)
Net cash used by financing activities
(197
)
 
(127
)
 
(474
)
Net increase (decrease) in cash and due from banks
251

 
(214
)
 
(200
)
Cash and due from banks at beginning of year
280

 
494

 
694

Cash and due from banks at end of year

$531

 

$280

 

$494