Parent Company Only Fianancial Information (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Statements of Condition


	December 31,
(in thousands)	2013		2012
ASSETS:
Cash and cash equivalents	$	126,165	$	113,745
Securities available for sale		2,545		2,662
Investments in subsidiaries		5,961,367		5,890,134
Receivables from subsidiaries		5,152		6,580
Other assets		32,458		28,617

Total assets	$	6,127,687	$	6,041,738

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$	358,126	$	357,917
Other liabilities		33,899		27,557

Total liabilities		392,025		385,474

Stockholders’ equity		5,735,662		5,656,264

Total liabilities and stockholders’ equity	$	6,127,687	$	6,041,738

Condensed Statements of Income


	Years Ended December 31,
(in thousands)	2013		2012			2011
Interest income	$	702	$	1,121		$	1,064
Dividends received from subsidiaries		450,000		485,000			555,000
Loss on debt redemption		—		(2,313	)		—
Other income		525		1,174			753

Gross income		451,227		484,982			556,817
Operating expenses		38,268		44,651			42,185

Income before income tax benefit and equity in undistributed (overdistributed) earnings of subsidiaries		412,959		440,331			514,632
Income tax benefit		16,547		20,029			16,445

Income before equity in undistributed (overdistributed) earnings of subsidiaries		429,506		460,360			531,077
Equity in undistributed (overdistributed) earnings of subsidiaries		46,041		40,746			(51,040	)

Net income	$	475,547	$	501,106		$	480,037

Condensed Statements of Cash Flows


	Years Ended December 31,
(in thousands)	2013			2012			2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	475,547		$	501,106		$	480,037
Change in other assets		(3,841	)		(154	)		23,990
Change in other liabilities		6,342			(8,799	)		15,352
Other, net		24,135			21,474			21,530
Equity in (undistributed) overdistributed earnings of subsidiaries		(46,041	)		(40,746	)		51,040

Net cash provided by operating activities		456,142			472,881			591,949

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and repayments of securities		151			1,276			2,459
Change in receivable from subsidiaries, net		1,428			(409	)		1,870

Net cash provided by investing activities		1,579			867			4,329

CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock purchases		(5,319	)		(3,522	)		(3,696	)
Cash dividends paid on common stock		(440,308	)		(438,539	)		(436,914	)
Net cash received from exercise of stock options		326			—			3,519
Payments for debt redemptions		—			(159,210	)		—

Net cash used in financing activities		(445,301	)		(601,271	)		(437,091	)

Net increase (decrease) in cash and cash equivalents		12,420			(127,523	)		159,187

Cash and cash equivalents at beginning of year		113,745			241,268			82,081

Cash and cash equivalents at end of year	$	126,165		$	113,745		$	241,268