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SunTrust Banks, Inc. (Parent Company Only) Financial Information
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Text Block] NOTE 24 - PARENT COMPANY FINANCIAL INFORMATION

Statements of Income - Parent Company Only
 
Year Ended December 31
(Dollars in millions)
2018
 
2017
 
2016
Income
 
 
 
 
 
Dividends 1

$2,380

 

$1,414

 

$1,300

Interest from loans to subsidiaries
30

 
25

 
15

Interest from deposits at banks
25

 
22

 
12

Other income
34

 
5

 
2

Total income
2,469

 
1,466

 
1,329

Expense
 
 
 
 
 
Interest on short-term borrowings
6

 
4

 
2

Interest on long-term debt
161

 
137

 
140

Employee compensation and benefits 2
40

 
103

 
57

Service fees to subsidiaries
9

 
12

 
12

Other expense
19

 
33

 
24

Total expense
235

 
289

 
235

Income before income tax benefit and equity in undistributed income of subsidiaries
2,234

 
1,177

 
1,094

Income tax benefit
20

 
72

 
59

Income before equity in undistributed income of subsidiaries
2,254

 
1,249

 
1,153

Equity in undistributed income of subsidiaries
521

 
1,024

 
725

Net income

$2,775

 

$2,273

 

$1,878

Total other comprehensive (loss)/income, net of tax
(446
)
 
1

 
(356
)
Total comprehensive income

$2,329

 

$2,274

 

$1,522

1 Substantially all dividend income is from subsidiaries (primarily the Bank).
2 Includes incentive compensation allocations between the Parent Company and subsidiaries.Balance Sheets - Parent Company Only
 
December 31
(Dollars in millions)
2018
 
2017
Assets
 
 
 
Cash held at SunTrust Bank

$599

 

$701

Interest-bearing deposits held at SunTrust Bank
913

 
2,144

Interest-bearing deposits held at other banks
24

 
24

Cash and cash equivalents
1,536

 
2,869

Trading assets and derivative instruments
12

 
—

Securities available for sale
98

 
123

Loans to subsidiaries
1,261

 
1,218

Investment in capital stock of subsidiaries stated on the basis of the Company’s equity in subsidiaries’ capital accounts:
 
 
 
Banking subsidiaries
24,630

 
24,590

Nonbanking subsidiaries
1,457

 
1,423

Goodwill
211

 
211

Other assets
686

 
547

Total assets

$29,891

 

$30,981

 
 
 
 
Liabilities

 
 
Short-term borrowings:
 
 
 
Subsidiaries

$5

 

$205

Non-affiliated companies
354

 
350

Long-term debt:
 
 
 
Non-affiliated companies
4,536

 
4,466

Other liabilities
819

 
909

Total liabilities
5,714

 
5,930

Shareholders’ Equity
 
 
 
Preferred stock
2,025

 
2,475

Common stock
553

 
550

Additional paid-in capital
9,022

 
9,000

Retained earnings
19,522

 
17,540

Treasury stock, at cost, and other
(5,525
)
 
(3,694
)
Accumulated other comprehensive loss, net of tax
(1,420
)
 
(820
)
Total shareholders’ equity
24,177

 
25,051

Total liabilities and shareholders’ equity

$29,891

 

$30,981



Statements of Cash Flows - Parent Company Only
 
Year Ended December 31
(Dollars in millions)
2018
 
2017
 
2016
Cash Flows from Operating Activities:
 
 
 
 
 
Net income

$2,775

 

$2,273

 

$1,878

Adjustments to reconcile net income to net cash (used in)/provided by operating activities:
 
 
 
 
 
Equity in undistributed income of subsidiaries
(521
)
 
(1,024
)
 
(725
)
Depreciation, amortization, and accretion
3

 
5

 
3

Deferred income tax expense
8

 
5

 
11

Stock-based compensation
—

 
—

 
3

Net securities (gains)/losses
—

 
(1
)
 
—

Net increase in other assets
(158
)
 
(15
)
 
(129
)
Net increase in other liabilities
26

 
122

 
62

Net cash provided by operating activities
2,133

 
1,365

 
1,103

Cash Flows from Investing Activities:
 
 
 
 
 
Proceeds from maturities, calls, and paydowns of securities available for sale
23

 
38

 
49

Proceeds from sales of securities available for sale
—

 
1

 
4

Purchases of securities available for sale
—

 
(17
)
 
(4
)
Net (increase)/decrease in loans to subsidiaries
(43
)
 
1,298

 
(889
)
Other, net
(1
)
 
—

 
(3
)
Net cash (used in)/provided by investing activities
(21
)
 
1,320

 
(843
)
Cash Flows from Financing Activities:
 
 
 
 
 
Net (decrease)/increase in short-term borrowings
(196
)
 
(211
)
 
5

Proceeds from issuance of long-term debt
929

 
9

 
2,005

Repayments of long-term debt
(873
)
 
(482
)
 
(1,784
)
Proceeds from issuance of preferred stock
—

 
1,239

 
—

Repurchase of preferred stock
(450
)
 
—

 
—

Repurchase of common stock
(1,910
)
 
(1,314
)
 
(806
)
Repurchase of common stock warrants
—

 
—

 
(24
)
Common and preferred stock dividends paid
(936
)
 
(723
)
 
(564
)
Taxes paid related to net share settlement of equity awards
(45
)
 
(39
)
 
(48
)
Proceeds from exercise of stock options
36

 
21

 
25

Net cash used in financing activities
(3,445
)
 
(1,500
)
 
(1,191
)
Net (decrease)/increase in cash and cash equivalents
(1,333
)
 
1,185

 
(931
)
Cash and cash equivalents at beginning of period
2,869

 
1,684

 
2,615

Cash and cash equivalents at end of period

$1,536

 

$2,869

 

$1,684

 
 
 
 
 
 
Supplemental Disclosures:
 
 
 
 
 
Income taxes received from/(paid to) subsidiaries

$101

 

($489
)
 

($886
)
Income taxes (paid)/received by Parent Company
(105
)
 
414

 
812

Net income taxes paid by Parent Company

($4
)
 

($75
)
 

($74
)
Interest paid

$164

 

$140

 

$135