v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net income $ 23,776 $ 222,896
Adjustments to reconcile net income to net cash provided by operating activities:    
Net fair value adjustments 38,856 (24,896)
Change in fair value of loan servicing assets 29,650 38,013
Gain on sales of loans (27,346) (53,429)
Provision for credit losses 137,179 123,075
Accretion of loan deferred fees and costs (50,292) (41,392)
Stock-based compensation, net 27,716 33,467
Depreciation and amortization 23,992 21,596
Income tax benefit from release of tax valuation allowance 0 (135,300)
Other, net (6,363) 2,520
Net change to loans held for sale (138,347) 66,787
Net change in operating assets and liabilities:    
Other assets 14,065 (6,648)
Other liabilities (49,751) (14,734)
Net cash provided by operating activities 23,135 231,955
Cash Flows from Investing Activities:    
Net change in loans and leases (222,167) (881,279)
Net decrease in retail and certificate loans 30,222 113,422
Purchases of securities available for sale (45,120) (222,534)
Proceeds from maturities and paydowns of securities available for sale 19,022 49,645
Purchases of property, equipment and software, net (32,255) (37,358)
Other investing activities (7,600) (4,023)
Net cash used for investing activities (257,898) (982,127)
Cash Flows from Financing Activities:    
Net change in deposits 450,559 1,391,884
Principal payments on borrowings (58,276) (183,244)
Principal payments on retail notes and certificates (30,222) (113,498)
Other financing activities (13,066) (6,324)
Net cash provided by financing activities 348,995 1,088,818
Net Increase in Cash, Cash Equivalents and Restricted Cash 114,232 338,646
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 1,124,484 763,586
Cash, Cash Equivalents and Restricted Cash, End of Period 1,238,716 1,102,232
Supplemental Cash Flow Information:    
Cash paid for interest 115,112 19,463
Cash paid for taxes 7,245 10,840
Cash paid for operating leases included in the measurement of lease liabilities 6,364 9,253
Non-cash investing activity:    
Net securities retained from Structured Program transactions 153,229 0
Non-cash financing activity:    
Derecognition of payable to securitization note and residual certificate holders held in consolidated VIE 0 36,072
Cash, Cash Equivalents, and Restricted Cash    
Cash and cash equivalents 1,203,924  
Restricted cash [1] 34,792  
Total cash, cash equivalents and restricted cash $ 1,238,716 $ 1,102,232
[1] Includes amounts in consolidated variable interest entities (VIEs). See “Notes to Condensed Consolidated Financial Statements – Note 6. Securitizations and Variable Interest Entities.”