SunTrust 2015 Annual Report Download - page 186
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Notes to Consolidated Financial Statements, continued
158
Statements of Cash Flows - Parent Company Only
Year Ended December 31
(Dollars in millions) 2015 2014 2013
Cash Flows from Operating Activities:
Net income $1,933 $1,774 $1,344
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of subsidiary —(105) —
Equity in undistributed income of subsidiaries (916) (772) (125)
Depreciation, amortization, and accretion 65 5
Deferred income tax (benefit)/expense (4) 35 74
Excess tax benefits from stock-based compensation (20) (6) (4)
Stock-based compensation 11 21 34
Net securities losses/(gains) —2 (2)
Net (increase)/decrease in other assets (72) 207 51
Net (decrease)/increase in other liabilities (64) 13 (335)
Net cash provided by operating activities 874 1,174 1,042
Cash Flows from Investing Activities:
Proceeds from maturities, calls, and paydowns of securities available for sale 66 71 55
Proceeds from sales of securities available for sale —21 57
Purchases of securities available for sale (15) (26) (25)
Proceeds from sales of auction rate securities —59 8
Net decrease/(increase) in loans to subsidiaries 1,042 (1,518) 1,422
Proceeds from sale of subsidiary —193 —
Net capital contributions to subsidiaries —(32) —
Other, net (2) (10) —
Net cash provided by/(used in) investing activities 1,091 (1,242) 1,517
Cash Flows from Financing Activities:
Net decrease in short-term borrowings (763) (686) (827)
Proceeds from long-term debt —723 888
Repayment of long-term debt (29) (5) (9)
Proceeds from the issuance of preferred stock —496 —
Repurchase of common stock (679) (458) (150)
Common and preferred dividends paid (539) (409) (225)
Incentive compensation related activity 37 16 17
Net cash used in financing activities (1,973) (323) (306)
Net (decrease)/increase in cash and cash equivalents (8) (391) 2,253
Cash and cash equivalents at beginning of period 2,623 3,014 761
Cash and cash equivalents at end of period $2,615 $2,623 $3,014
Supplemental Disclosures:
Income taxes paid to subsidiaries ($499) ($219) ($195)
Income taxes received by Parent Company 481 171 55
Net income taxes paid by Parent Company ($18) ($48) ($140)
Interest paid $130 $131 $112