Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Operating activities      
Net income $ 692,957 $ 632,392 $ 641,282
Adjustments to reconcile net income to net cash provided by (used for) operating activities:      
Impairment of goodwill 0 3,000 0
Provision for credit losses 99,954 80,989 90,045
Depreciation and amortization 341,281 332,832 281,545
Share-based compensation expense 51,415 43,666 37,007
Net gains on sales of securities (3,184) (17,554) (2,220)
Impairment losses recognized in earnings on available-for-sale securities 2,440 0 1,802
Net Change in:      
Trading account securities 5,194 (6,618) 55,632
Loans held for sale 53,765 (58,803) 127,368
Accrued income and other assets (233,624) (438,366) 10,500
Change in deferred income taxes 68,776 35,174 106,022
Accrued expense and other liabilities (34,846) 282,074 (335,738)
Other, net (10,766) 0 0
Net cash provided by (used for) operating activities 1,033,362 888,786 1,013,245
Investing activities      
Decrease (increase) in interest-bearing deposits in banks 12,721 (7,516) 146,584
Net cash (paid) received in acquisitions (457,836) 691,637 0
Proceeds from:      
Maturities and calls of available-for-sale securities 1,907,669 1,480,505 1,414,114
Maturities of held-to-maturity securities 594,905 452,785 278,136
Sales of available-for-sale securities 163,224 1,152,907 410,106
Purchases of available-for-sale securities (4,506,764) (4,553,857) (1,416,795)
Purchases of held-to-maturity securities (379,351) 0 (2,081,373)
Net proceeds from sales of loans 1,304,309 353,811 459,006
Net loan and lease activity, excluding sales (3,186,775) (4,232,350) (3,386,753)
Proceeds from sale of operating lease assets 2,227 17,591 10,227
Purchases of premises and equipment (93,097) (58,862) (102,208)
Proceeds from sales of other real estate 36,038 38,479 40,448
Purchases of loans and leases (333,726) (345,039) (16,170)
Purchases of customer lists 0 (946) 0
Other, net 7,802 6,074 4,345
Net cash provided by (used for) investing activities (4,928,654) (5,004,781) (4,240,333)
Financing activities      
Increase (decrease) in deposits 3,644,492 2,923,928 1,258,038
Increase (decrease) in short-term borrowings (1,818,947) 118,698 854,558
Sale of deposits (47,521) 0 0
Proceeds from issuance of long-term debt 3,232,227 2,000,000 1,250,000
Maturity/redemption of long-term debt (1,036,717) (198,922) (102,086)
Dividends paid on preferred stock (31,872) (31,854) (31,869)
Dividends paid on common stock (192,518) (166,935) (150,608)
Repurchase of common stock (251,844) (334,429) (124,995)
Proceeds from stock options exercised 19,000 17,710 12,601
Net proceeds from issuance of common stock 0 2,597 0
Other, net 5,583 4,635 (225)
Net cash provided by (used for) financing activities 3,521,883 4,335,428 2,965,414
Increase (decrease) in cash and cash equivalents (373,409) 219,433 (261,674)
Cash and cash equivalents at beginning of period 1,220,565 1,001,132 1,262,806
Cash and cash equivalents at end of period 847,156 1,220,565 1,001,132
Supplemental disclosures:      
Interest paid 150,403 131,488 155,832
Income taxes paid (refunded) 153,590 139,918 109,432
Non-cash activities:      
Loans transferred to available-for-sale securities 0 0 600,435
Loans transferred to held-for-sale from portfolio 1,727,440 96,643 53,360
Loans transferred to portfolio from held-for-sale 278,080 45,240 307,303
Transfer of loans to OREO 24,625 39,066 34,372
Transfer of securities to held-to-maturity from available-for-sale $ 3,000,180 $ 0 $ 292,164