STI 2018 Annual Report

Notes to Consolidated Financial Statements, continued 172 Statements of Cash Flows - Parent Company Only Year Ended December 31 (Dollars in millions) 2018 2017 2016 Cash Flows from Operating Activities: Net income $2,775 $2,273 $1,878 Adjustments to reconcile net income to net cash (used in)/provided by operating activities: Equity in undistributed income of subsidiaries (521) (1,024) (725) Depreciation, amortization, and accretion 3 5 3 Deferred income tax expense 8 5 11 Stock-based compensation — — 3 Net securities (gains)/losses — (1) — Net increase in other assets (158) (15) (129) Net increase in other liabilities 26 122 62 Net cash provided by operating activities 2,133 1,365 1,103 Cash Flows from Investing Activities: Proceeds from maturities, calls, and paydowns of securities available for sale 23 38 49 Proceeds from sales of securities available for sale — 1 4 Purchases of securities available for sale — (17) (4) Net (increase)/decrease in loans to subsidiaries (43) 1,298 (889) Other, net (1) — (3) Net cash (used in)/provided by investing activities (21) 1,320 (843) Cash Flows from Financing Activities: Net (decrease)/increase in short-term borrowings (196) (211) 5 Proceeds from issuance of long-term debt 929 9 2,005 Repayments of long-term debt (873) (482) (1,784) Proceeds from issuance of preferred stock — 1,239 — Repurchase of preferred stock (450) — — Repurchase of common stock (1,910) (1,314) (806) Repurchase of common stock warrants — — (24) Common and preferred stock dividends paid (936) (723) (564) Taxes paid related to net share settlement of equity awards (45) (39) (48) Proceeds from exercise of stock options 36 21 25 Net cash used in financing activities (3,445) (1,500) (1,191) Net (decrease)/increase in cash and cash equivalents (1,333) 1,185 (931) Cash and cash equivalents at beginning of period 2,869 1,684 2,615 Cash and cash equivalents at end of period $1,536 $2,869 $1,684 Supplemental Disclosures: Income taxes received from/(paid to) subsidiaries $101 ($489) ($886) Income taxes (paid)/received by Parent Company (105) 414 812 Net income taxes paid by Parent Company ($4) ($75) ($74) Interest paid $164 $140 $135