XML 57 R43.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Parent Company Only Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Condensed Statements of Condition | Condensed Statements of Condition
|  | December 31, |
(in thousands) |  | 2015 |  |  | 2014 |
ASSETS: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 70,380 |  |  | $ | 89,518 |
Securities available for sale |  |  | 1,968 |  |  |  | 2,002 |
Investments in subsidiaries |  |  | 6,232,228 |  |  |  | 6,039,718 |
Receivables from subsidiaries |  |  | 7,635 |  |  |  | 7,859 |
Other assets |  |  | 34,418 |  |  |  | 32,165 |
Total assets |  | $ | 6,346,629 |  |  | $ | 6,171,262 |
LIABILITIES AND STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |
Junior subordinated debentures |  | $ | 358,605 |  |  | $ | 358,355 |
Other liabilities |  |  | 53,328 |  |  |  | 31,092 |
Total liabilities |  |  | 411,933 |  |  |  | 389,447 |
Stockholders’ equity |  |  | 5,934,696 |  |  |  | 5,781,815 |
Total liabilities and stockholders’ equity |  | $ | 6,346,629 |  |  | $ | 6,171,262 |
Condensed Statements of (Loss) Income | Condensed Statements of (Loss) Income
|  | Years Ended December 31, |
(in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
Interest income |  | $ | 1,027 |  |  | $ | 715 |  |  | $ | 702 |
Dividends received from subsidiaries |  |  | 345,000 |  |  |  | 410,000 |  |  |  | 450,000 |
Gain on sale of securities |  |  | — |  |  |  | 261 |  |  |  | — |
Other income |  |  | 527 |  |  |  | 520 |  |  |  | 525 |
Gross income |  |  | 346,554 |  |  |  | 411,496 |  |  |  | 451,227 |
Operating expenses |  |  | 48,255 |  |  |  | 42,370 |  |  |  | 38,268 |
Income before income tax benefit and equity in (overdistributed) underdistributed earnings of subsidiaries |  |  | 298,299 |  |  |  | 369,126 |  |  |  | 412,959 |
Income tax benefit |  |  | 20,720 |  |  |  | 17,570 |  |  |  | 16,547 |
Income before equity in (overdistributed) underdistributed earnings of subsidiaries |  |  | 319,019 |  |  |  | 386,696 |  |  |  | 429,506 |
Equity in (overdistributed) underdistributed earnings of subsidiaries |  |  | (366,175 | ) |  |  | 98,701 |  |  |  | 46,041 |
Net (loss) income |  | $ | (47,156 | ) |  | $ | 485,397 |  |  | $ | 475,547 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
|  | Years Ended December 31, |
(in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (47,156 | ) |  | $ | 485,397 |  |  | $ | 475,547 |
Change in other assets |  |  | (2,253 | ) |  |  | 293 |  |  |  | (3,841 | )
Change in other liabilities |  |  | 22,236 |  |  |  | (2,807 | ) |  |  | 6,342 |
Other, net |  |  | 32,955 |  |  |  | 30,739 |  |  |  | 24,135 |
Equity in overdistributed (underdistributed) earnings of subsidiaries |  |  | 366,175 |  |  |  | (98,701 | ) |  |  | (46,041 | )
Net cash provided by operating activities |  | $ | 371,957 |  |  | $ | 414,921 |  |  | $ | 456,142 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales and repayments of securities |  | $ | — |  |  | $ | 566 |  |  | $ | 151 |
Change in receivable from subsidiaries, net |  |  | 224 |  |  |  | (2,707 | ) |  |  | 1,428 |
Investment in subsidiaries |  |  | (560,000 | ) |  |  | — |  |  |  | — |
Net cash (used in) provided by investing activities |  | $ | (559,776 | ) |  | $ | (2,141 | ) |  | $ | 1,579 |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |
Treasury stock purchases |  | $ | (7,020 | ) |  | $ | (7,283 | ) |  | $ | (5,319 | )
Cash dividends paid on common stock |  |  | (453,981 | ) |  |  | (442,204 | ) |  |  | (440,308 | )
Net cash received from exercise of stock options |  |  | — |  |  |  | 60 |  |  |  | 326 |
Proceeds from follow-on common stock offering ,net |  |  | 629,682 |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  | $ | 168,681 |  |  | $ | (449,427 | ) |  | $ | (445,301 | )
Net (decrease) increase in cash and cash equivalents |  |  | (19,138 | ) |  |  | (36,647 | ) |  |  | 12,420 |
Cash and cash equivalents at beginning of year |  |  | 89,518 |  |  |  | 126,165 |  |  |  | 113,745 |
Cash and cash equivalents at end of year |  | $ | 70,380 |  |  | $ | 89,518 |  |  | $ | 126,165 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration