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Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income before noncontrolling interests $ 107,880 $ 76,597
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses [1] 30,734 33,475
Changes in fair values of derivatives, net 3,887 3,159
Depreciation and amortization 12,391 11,536
Amortization of premiums and discounts on investment securities, net 400 4,931
Amortization of share-based compensation 9,203 6,877
Amortization of deferred loan fees (23,650) (24,042)
Deferred income tax benefit (15,386) (5,982)
Excess Tax Benefit from Share-based Compensation, Operating Activities [2] (6,063) 0
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (6,750) (4,628)
Accounts receivable and payable, net (1,976) 552
Income tax receivable and payable, net 65,524 28,711
Accrued compensation (89,653) (101,241)
Foreign exchange spot contracts, net 30,995 9,541
Other, net (3,290) 14,208
Net cash provided by operating activities 96,731 56,061
Cash flows from investing activities:    
Purchases of available-for-sale securities (595,543) 0
Proceeds from sales of available-for-sale securities 2,078 1,864,396
Proceeds from maturities and pay downs of available-for-sale securities 824,551 364,101
Purchases of held-to-maturity securities (589,855) (98,199)
Proceeds from maturities and pay downs of held-to-maturity securities 416,206 351,834
Purchases of non-marketable and other securities (545) (12,412)
Proceeds from sales and distributions of non-marketable and other securities 26,950 9,977
Net increase in loans (519,454) (991,939)
Purchases of premises and equipment (10,599) (13,680)
Net cash (used for) provided by investing activities (446,211) 1,474,078
Cash flows from financing activities:    
Net increase (decrease) in deposits 2,099,832 (383,055)
Net decrease in short-term borrowings (507,505) (774,900)
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (1,755) (2,524)
Tax effect from stock exercises (1) [2] 0 (8,483)
Proceeds from issuance of common stock, ESPP, and ESOP 8,837 4,078
Net cash provided by (used for) financing activities 1,599,409 (1,164,884)
Net increase in cash and cash equivalents 1,249,929 365,255
Cash and cash equivalents at beginning of period 2,545,750 1,503,257
Cash and cash equivalents at end of period 3,795,679 1,868,512
Cash paid during the period for:    
Interest 17,956 17,407
Income taxes 3,304 35,778
Noncash items during the period:    
Changes in unrealized gains and losses on available-for-sale securities, net of tax (4,981) 101,670
Distributions of stock from investments 357 34
Equity warrant assets    
Adjustments to reconcile net income to net cash provided by operating activities:    
Changes in fair values of derivatives, net $ (1,545) $ (2,317)
[1] Our consolidated statements of income were modified from prior period's presentation to conform to the current period's presentation, which reflects our provision for loan losses and provision for unfunded credit commitments together as our “provision for credit losses”. In prior periods, our provision for unfunded credit commitments were reported as a component of noninterest expense.
[2] During the first quarter of 2017 we adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. This guidance was adopted on a prospective basis with no change to prior period amounts. 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.