Huntington National Bank 2013 Annual Report Download - page 108

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Huntington Bancshares Incorporated
Consolidated Statements of Cash Flows
Year Ended December 31,
(dollar amounts in thousands) 2013 2012 2011
Operating activities
N
et income $ 638,741 $ 641,022 $ 542,613 $
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses 90,045 147,388 174,059
Depreciation and amortization 281,545 274,572 282,105
Share-based compensation expense 37,007 27,873 19,666
Change in deferred income taxes 97,440 153,123 159,193
Originations of loans held for sale (2,845,275) (3,814,572) (2,414,172)
Principal payments on and proceeds from loans held for sale 3,017,430 3,731,465 2,820,797
Gain on sale of loans held for sale (44,787) (60,251) (15,870)
Gain on early extinguishment of debt --- (798) (9,697)
Bargain purchase gain --- (11,217) ---
N
et gains on sales of securities (2,220) (6,388) (3,682)
Impairment losses recognized in earnings on available-for-sale securities 1,802 1,619 7,363
N
et Change in:
Trading account securities 55,632 (45,306) 139,505
Accrued income and other assets 21,623 455,411 (62,230)
Accrued expense and other liabilities (335,738) (491,811) (44,863)
Net cash provided by (used for) operating activities 1,013,245 1,002,130 1,594,787
Investing activities
Decrease (increase) in interest-bearing deposits in banks 146,584 70,980 50,093
N
et cash received in acquisitions --- 40,258 ---
Proceeds from:
Maturities and calls of available-for-sale and other securities 1,414,114 1,776,594 2,489,049
Maturities of held-to-maturity securities 278,136 113,576 31,163
Sales of available-for-sale and other securities 410,106 957,930 3,205,884
Purchases of available-for-sale and other securities (1,416,795) (2,384,824) (4,283,866)
Purchases of held-to-maturity securities (2,081,373) (941,119) (204,082)
N
et proceeds from sales of loans 459,006 3,092,643 1,640,237
N
et loan and lease activity, excluding sales (3,386,753) (3,287,000) (4,148,424)
Proceeds from sale of operating lease assets 10,227 30,322 62,744
Purchases of premises and equipment (102,208) (129,641) (143,763)
Proceeds from sales of other real estate 40,448 56,762 55,817
Purchases of loans and leases (16,170) (484,157) (59,885)
Other, net 4,345 4,698 327
Net cash provided by (used for) investing activities (4,240,333) (1,082,978) (1,304,706)
Financing activities
Increase (decrease) in deposits 1,258,038 2,262,213 1,420,944
Increase (decrease) in short-term borrowings 55,279 (939,979) (580,335)
Maturity/redemption of subordinated notes (50,000) (305,010) (5,000)
Proceeds from Federal Home Loan Bank advances 4,400,000 2,515,000 550,000
Maturity/redemption of Federal Home Loan Bank advances (3,600,721) (1,914,281) (359,732)
Proceeds from issuance of long-term debt 1,250,000 --- ---
Maturity/redemption of long-term debt (52,086) (1,070,804) (902,652)
Repurchase of Warrant to the Treasury --- --- (49,100)
Dividends paid on preferred stock (31,869) (31,719) (30,813)
Dividends paid on common stock (150,608) (137,616) (61,591)
Repurchase of common stock (124,995) (148,881) ---
Cost to issue preferred stock --- --- (1,759)
Other, net 12,376 (1,237) (1,963)
Net cash provided by (used for) financing activities 2,965,414 227,686 (22,001)
Increase (decrease) in cash and cash equivalents (261,674) 146,838 268,080
Cash and cash equivalents at beginning of period 1,262,806 1,115,968 847,888
Cash and cash equivalents at end of period $ 1,001,132 $ 1,262,806 $ 1,115,968 $