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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net income/(loss) $ 455,702 $ 225,361
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities:    
Provision/(provision credit) for loan losses 1,000 (3,000)
Provision/(benefit) for deferred income taxes 106,314 (547)
Depreciation and amortization of premises and equipment 35,700 25,052
Amortization of intangible assets 19,394 5,160
Net other amortization and accretion (9,991) 22,921
Net (increase)/decrease in derivatives 86,135 (14,670)
Fair value adjustment on interest-only strips (840) (107)
Repurchase and foreclosure provision/(provision credit) 0 (20,000)
(Gains)/losses and write-downs on OREO, net 814 44
Litigation and regulatory matters (1,447) 7,409
Stock-based compensation expense 17,465 14,971
Gain on sale of held-to-maturity loans 3,777 0
Equity securities (gains)/losses, net (212,924) (5)
Debt securities (gains)/losses, net (52) (450)
(Gain)/loss on extinguishment of debt 1 14,329
Net (gains)/losses on sale/disposal of fixed assets (2,469) (13)
(Gain)/loss on BOLI (2,785) (3,500)
Loans held-for-sale:    
Purchases and originations (1,729,549) (1,252,300)
Gross proceeds from settlements and sales [1] 751,589 1,252,477
(Gain)/loss due to fair value adjustments and other 13,755 2,485
Net (increase)/decrease in:    
Trading securities 392,411 (433,897)
Fixed income receivables (109,109) (11,339)
Interest receivable (14,052) (7,171)
Other assets (6,699) (51,575)
Net increase/(decrease) in:    
Trading liabilities 101,179 17,180
Fixed income payables (12,057) (73,187)
Interest payable 16,610 8,869
Other liabilities (30,717) (35,770)
Total adjustments (586,547) (536,634)
Net cash provided/(used) by operating activities (130,845) (311,273)
Available-for-sale securities:    
Sales 15,137 3,360
Maturities 510,232 420,136
Purchases (362,215) (426,129)
Held-to-maturity securities:    
Prepayments and maturities 0 4,740
Premises and equipment:    
Sales 22,794 2,577
Purchases (32,928) (30,395)
Proceeds from the sale of Visa Class B shares 240,206 0
Proceeds from sales of OREO 25,328 9,235
Proceeds from sales of loans classified as held-to-maturity 50,498 0
Proceeds from BOLI 11,559 5,850
Net (increase)/decrease in:    
Loans 283,922 (586,426)
Interests retained from securitizations classified as trading securities 731 648
Interest-bearing cash 653,919 459,840
Cash paid related to divestitures (27,599) 0
Cash (paid)/received for acquisition, net [2] (46,017) (123,971)
Net cash provided/(used) by investing activities 1,345,567 (260,535)
Common stock:    
Stock options exercised 4,443 5,173
Cash dividends paid (99,753) (58,850)
Repurchase of shares [3] (23,997) (5,285)
Cash dividends paid - preferred stock - noncontrolling interest (8,555) (8,523)
Cash dividends paid - Series A preferred stock (4,650) (4,650)
Term borrowings:    
Issuance 0 121,184
Payments/maturities (17,565) (145,285)
Increases in restricted and secured term borrowings 5,646 29,231
Net increase/(decrease) in:    
Deposits 417,612 (572,621)
Short-term borrowings (1,496,739) 1,261,395
Net cash provided/(used) by financing activities (1,223,558) 621,769
Net increase/(decrease) in cash and cash equivalents (8,836) 49,961
Cash and cash equivalents at beginning of period 1,452,046 1,037,794
Cash and cash equivalents at end of period 1,443,210 1,087,755
Supplemental Disclosures    
Total interest paid 208,160 92,405
Total taxes paid 12,779 38,151
Total taxes refunded 1,576 8,201
Transfer from loans to OREO 11,388 5,564
Transfer from loans HFS to trading securities $ 907,788 $ 829,668
[1] 2018 includes $107.4 million related to the sale of approximately $120 million UPB of subprime auto loans. See Note 2- Acquisitions and Divestitures for additional information.
[2] See Note 2- Acquisitions and Divestitures for additional information.
[3] 2018 includes $19.0 million repurchased under share repurchase programs.