SunTrust 2013 Annual Report Download - page 223

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Notes to Consolidated Financial Statements, continued
207
Statements of Cash Flows - Parent Company Only
Year Ended December 31
(Dollars in millions) 2013 2012 2011
Cash Flows from Operating Activities:
Net income $1,344 $1,958 $647
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Equity in undistributed income of subsidiaries (125) (2,110) (745)
Depreciation, amortization, and accretion 510 17
Deferred income tax provision/(benefit) 74 18 (56)
Excess tax benefits from stock-based compensation (4) (11) —
Stock option compensation and amortization of restricted stock compensation 34 35 44
Net loss/(gain) on extinguishment of debt —15 (3)
Net securities gains (2) (6) (92)
Contributions to retirement plans (8) (26) (8)
Net decrease/(increase) in other assets 50 (190) (192)
Net (decrease)/increase in other liabilities (327) 369 130
Net cash provided by/(used in) operating activities 1,041 62 (258)
Cash Flows from Investing Activities:
Proceeds from maturities, calls, and repayments of securities available for sale 55 65 61
Proceeds from sales of securities available for sale 57 47 6,700
Purchases of securities available for sale (25) (68) (2,374)
Proceeds from maturities, calls, and repayments of trading securities 12 137
Proceeds from sales of trading securities 8—75
Net change in loans to subsidiaries 1,422 940 (3,185)
Capital contributions to subsidiaries —(150) (250)
Net cash provided by investing activities 1,518 836 1,164
Cash Flows from Financing Activities:
Net (decrease)/increase in short-term borrowings (827) 935 463
Proceeds from the issuance of long-term debt 888 15 1,749
Repayment of long-term debt (9) (3,073) (482)
Proceeds from the issuance of preferred stock —438 103
Proceeds from the issuance of common stock —— 1,017
Repurchase of preferred stock —— (4,850)
Repurchase of common stock (150) ——
Stock option activity 17 26 —
Dividends paid (225) (119) (131)
Purchase of outstanding warrants —— (11)
Net cash used in financing activities (306) (1,778) (2,142)
Net increase/(decrease) in cash and cash equivalents 2,253 (880) (1,236)
Cash and cash equivalents at beginning of period 761 1,641 2,877
Cash and cash equivalents at end of period $3,014 $761 $1,641
Supplemental Disclosures:
Income taxes (paid to)/received from subsidiaries ($195) $621 ($2)
Income taxes received/(paid) by Parent Company 55 (605) (66)
Net income taxes (paid)/received by Parent Company ($140) $16 ($68)
Interest paid $112 $189 $246
Accretion of discount for preferred stock issued to the U.S. Treasury ——80