NYCB 2017 Annual Report

139 Condensed Statements of Cash Flows Years Ended December 31, (in thousands) 2017 2016 2015 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 466,201 $ 495,401 $ (47,156) Change in other assets 10,122 316 (2,253) Change in other liabilities (36,226) (2,252) 22,236 Other, net 36,330 33,333 32,955 Equity in (underdistributed) overdistributed earnings of subsidiaries (162,316) (193,760) 366,175 Net cash provided by operating activities $ 314,110 $ 333,038 $ 371,957 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from sales and repayments of securities $ 2,000 $ -- $ -- Change in receivable from subsidiaries, net 3,089 (204) 224 Investment in subsidiaries (420,000) -- (560,000) Net cash used in investing activities (414,911) $ (204) $(559,776) CASH FLOWS FROM FINANCING ACTIVITIES: Treasury stock purchases $ (18,463) $ (8,677) $ (7,020) Cash dividends paid on common and preferred stock (356,768) (330,810) (453,981) Proceeds from issuance of preferred stock 502,840 -- -- Proceeds from follow-on common stock offering, net -- -- 629,682 Net cash provided by (used in) financing activities $ 127,609 $(339,487) $ 168,681 Net increase (decrease) in cash and cash equivalents 26,809 (6,653) (19,138) Cash and cash equivalents at beginning of year 63,727 70,380 89,518 Cash and cash equivalents at end of year $ 90,536 $ 63,727 $ 70,380 NOTE 18: CAPITAL The Company is subject to examination, regulation, and periodic reporting under the Bank Holding Company Act of 1956, as amended, which is administered by the FRB. The FRB has adopted capital adequacy guidelines for bank holding companies (on a consolidated basis) that are substantially similar to those of the FDIC for the Banks. The following tables present the regulatory capital ratios for the Company at December 31, 2017 and 2016, in comparison with the minimum amounts and ratios required by the FRB for capital adequacy purposes: Risk-Based Capital At December 31, 2017 Common Equity Tier 1 Tier 1 Total Leverage Capital (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total capital $3,869,129 11.36% $4,371,969 12.84% $4,877,208 14.32% $4,371,969 9.58% Minimum for capital adequacy purposes 1,532,448 4.50 2,043,265 6.00 2,724,353 8.00 1,826,141 4.00 Excess $2,336,681 6.86% $2,328,704 6.84% $2,152,855 6.32% $2,545,828 5.58% Risk-Based Capital At December 31, 2016 Common Equity Tier 1 Tier 1 Total Leverage Capital (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total capital $3,748,231 10.62% $3,748,231 10.62% $4,277,759 12.12% $3,748,231 8.00% Minimum for capital adequacy purposes 1,588,699 4.50 2,118,266 6.00 2,824,355 8.00 1,875,062 4.00 Excess $2,159,532 6.12% $1,629,965 4.62% $1,453,404 4.12% $1,873,169 4.00% In accordance with Basel III, the inclusion of trust preferred securities as tier 1 capital was phased out completely in 2016. In addition, Basel III calls for the phase-in of a capital conservation buffer over a five-year period beginning with 0.625% in 2016 and reaching 2.50% in 2019, when fully phased in. At December 31, 2017, our total risk-based