SVB FINANCIAL GROUP SIVB Cash Flow

Svb financial group (SIVB)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income before noncontrolling interests
133,649	274,816	281,718	336,571	291,612	274,931	281,365	247,026	208,026	124,664	154,118	132,516	107,880	103,642	115,647	94,380	76,597	90,009	87,962	94,459	102,390	129,795	64,154	10,356	274,355	191,570	216,180	76,488	60,545	99,662	53,140	57,078	39,933	43,890	76,076	89,732	73,095	33,982	52,439	21,186	29,210
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (Reduction of) unfunded credit commitments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,047	-3,061	2,263	978	2,225	2,185	1,123	1,507	2,774	1,347	2,014	-776	-400	1,922	-258	2,266	2,055	976	-900	1,522	1,692	-638	1,507
Provision for credit losses
243,480	17,383	36,536	23,946	28,551	13,644	17,174	29,080	27,972	22,242	23,522	15,806	30,734	16,454	20,004	36,746	33,475	29,315	33,403	26,513	6,452	40,435	16,610	1,947	494	28,670	10,638	18,572	5,813	15,014	6,788	7,999	14,529	8,245	769	134	-3,047	15,504	10,971	28,898	-10,745
Gains on investment securities, net
46,055	28,095	29,849	47,698	29,028	10,729	32,193	36,114	9,058	14,515	10,691	11,399	8,942	-	-	-	-	12,439	18,768	24,975	33,263	94,787	5,644	-57,320	223,912	163,547	187,862	40,561	27,438	68,238	20,228	25,809	7,839	19,755	52,262	71,680	51,337	25,940	46,611	4,805	16,004
Distributions of earnings from non-marketable and other equity securities
-12,346	-17,547	-37,000	-24,965	-15,619	-17,410	-27,196	-16,024	-11,385	-6,902	-11,751	-39,373	12,159	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
24,824	22,309	19,584	19,994	20,830	14,517	14,487	14,525	14,377	16,858	12,997	13,877	12,391	11,705	11,346	12,232	11,536	11,504	8,751	9,861	9,892	10,072	10,092	9,416	9,765	9,786	9,193	8,802	8,479	5,471	9,057	7,140	6,454	7,491	6,165	7,315	6,519	5,670	6,366	5,589	5,599
Impairment (gain) loss on SVBIF Sale Transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	400	887	-13,934	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premiums and discounts on investment securities, net
-13,565	-5,867	-4,653	-3,387	-1,606	-224	-226	-647	1,125	79	-862	-1,347	-400	3,040	-1,699	-2,992	-4,931	-3,612	-4,997	-3,244	-6,418	-6,611	-4,281	-6,878	-7,541	-8,734	-6,156	-6,536	-8,348	-13,069	-17,238	-15,404	-9,869	-9,679	-9,266	-6,334	-2,570	-8,478	-5,254	-4,383	-5,956
Tax (expense) benefit from stock exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	99	1,247	-944	-102	-353	-790	56	-95	-449	-310	-117	-24	17	313
Share-based Payment Arrangement, Noncash Expense
19,171	16,265	18,782	16,646	15,122	11,707	11,501	11,944	10,523	9,161	8,644	9,892	9,203	13,152	7,917	7,548	6,877	8,065	8,188	8,215	7,771	7,260	7,520	7,687	7,078	6,468	6,723	6,396	5,826	5,267	5,617	5,828	5,149	4,720	4,552	4,706	4,243	3,857	3,608	3,005	3,291
Amortization of deferred loan fees
33,016	43,046	35,671	41,436	35,276	33,306	29,165	36,473	29,133	30,678	29,191	28,219	23,650	25,343	25,911	22,854	24,042	25,109	21,081	22,025	21,169	23,174	20,479	18,569	20,502	21,067	19,875	17,026	15,040	16,209	9,427	17,393	15,488	17,352	15,348	14,212	14,246	13,836	12,558	12,513	11,581
Deferred income tax benefit
-60,126	-1,352	2,134	4,980	-8,834	-4,529	2,062	-9,760	-8,834	22,862	12,152	5,559	-15,386	2,604	-465	-392	-5,982	-12,264	-1,152	2,972	1,311	-24,194	-24,089	-10,655	15,828	18,538	-3,809	340	-19	2,797	-6,873	7,446	-1,570	4,227	712	-1,886	4,309	-3,228	-938	1,496	1,236
Excess tax benefit from exercise of stock options and vesting of restricted shares
2,575	1,657	562	4,565	2,804	446	3,055	11,945	2,543	3,615	1,371	6,965	6,063	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Losses from the write-off of premises and equipment
0	5,034	0	133	52	161	111	7,006	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-363	-	-1,941	0	0	-	-	-	-	-	-	-	-
Other losses (gains)
-	-	-	-	-	-	-	-	-	-2,842	2,292	-123	3,981	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Losses on sale of and valuation adjustments to other real estate owned property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-24
Changes in other assets and liabilities:
Accrued interest receivable and payable, net
-23,982	13,760	6,579	489	3,361	4,313	23,308	9,848	18,365	5,280	17,240	2,102	6,750	4,832	-937	-4,860	4,628	2,085	8,399	-1,315	-772	9,154	6,162	4,722	6,604	-1,942	871	-423	4,735	-2,830	4,640	-1,955	6,399	-1,549	5,571	-248	8,596	4,257	-7,166	5,463	-4,114
Accounts receivable and payable, net
45,311	-1,259	40,586	8,139	-30,447	24,717	-11,866	2,892	7,277	639	-10,347	4,251	1,976	-7,927	10,274	3,150	-552	5,744	8,247	897	9,141	-12,588	9,587	-4,582	7,885	1,484	2,677	2,080	-6,220	-1,944	-10,391	-8,255	-14,631	35,960	82,034	-79,692	1,099	-5,948	10,101	2,037	-1,370
Income tax receivable and payable, net
-66,581	-47,897	-27,570	181,649	-94,552	-7,142	-8,114	90,945	-69,869	-16,099	-29,229	64,684	-65,524	9,509	-46,096	61,626	-28,711	-19,541	34,279	4,402	-9,283	-9,430	19,410	19,983	-25,159	17,024	-3,804	17,827	-6,236	-3,408	-21,938	29,728	-14,013	8,983	-4,320	6,036	-9,890	7,239	-24,819	9,436	-8,550
Prepaid FDIC assessments and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,386	-1,902	-3,180	-2,944	-2,586	-2,675	-2,443
Accrued compensation
-236,834	94,584	65,632	78,300	-253,769	51,369	61,319	50,542	-106,356	43,420	39,905	38,017	-89,653	33,448	31,118	21,383	-101,241	37,995	22,877	44,035	-74,614	27,948	24,607	25,839	-74,687	30,406	32,177	22,717	-62,375	24,682	19,592	6,048	-66,240	25,435	22,503	27,225	-39,760	18,628	15,022	16,022	-8,477
Foreign exchange spot contracts, net
12,583	-25,694	74,003	60,772	-169,079	62,280	-17,428	65,768	-134,638	107,802	72,696	-128,612	-30,995	-1,290	52,067	-44,329	-9,541	38,681	38,995	-12,583	-33,934	71,632	22,220	-96,943	-22,634	10,356	8,491	5,601	-26,534	9,713	-2,217	22,251	21,154	-52,160	54,949	-49,927	-15,609	7,464	8,366	-957	-12,258
Proceeds from termination of interest rate swaps
180,500	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
69,013	-4,276	41,298	56,886	-19,668	7,165	20,814	93,945	-67,885	501	24,790	-44,490	3,290	-20,863	-29,504	22,891	-14,208	7,305	-16,289	-22,862	-32,198	-6,951	-8,925	2,335	-6,247	-3,154	-13,915	19,595	21,325	3,997	-20,642	7,580	-6,078	-10,879	-7,770	-6,183	-6,391	10,873	504	-14,276	-421
Net cash provided by operating activities
168,125	454,385	259,173	109,821	340,750	229,658	356,524	-1,024	348,404	125,792	124,352	284,784	111,937	198,756	130,937	86,006	56,061	84,990	43,328	157,673	53,206	18,894	18,285	168,099	49,990	73,736	65,670	33,416	-1,044	68,502	133,708	4,770	-10,872	76,204	-81,618	165,683	6,123	18,366	49,870	47,139	47,853
Cash flows from investing activities:
Purchases of available-for-sale securities
1,538,553	2,039,813	5,278,956	2,348,998	204,328	5,806	271,700	390,758	0	0	1,246,075	579,123	595,543	429,268	0	0	0	1,675,194	1,200,153	1,158,760	552,573	401,321	2,015,481	4,514,224	1,531,045	2,429,981	686,464	44	219,987	1,018,697	1,080,704	493	1,777,958	2,093,100	699,944	2,121,288	2,213,193	2,589,688	1,796,424	1,492,459	878,579
Proceeds from sales of available-for-sale securities
2,654,212	0	0	1,017,523	1,171,564	474,482	0	0	0	573,560	2,287	2,946	2,078	13,051	1,137	1,013,876	1,864,396	292	1,088	1,062	5,612	3,472	3,218	21,611	2,097	4,546	1,914	7,712	581	2,983	570	322,389	3,219	669	698	1,414,022	74	2,433	492,772	159,636	714
Proceeds from maturities and paydowns of available-for-sale securities
785,692	841,752	419,551	266,053	116,001	906,398	754,098	863,729	911,839	905,535	718,748	890,740	824,551	361,875	342,059	296,363	364,101	465,968	446,996	367,241	424,713	216,804	301,442	356,684	694,243	548,599	542,317	683,343	653,764	686,413	666,888	603,148	777,717	1,166,747	725,884	721,463	601,092	625,012	633,974	402,656	489,932
Purchases of held-to-maturity securities
358,650	84,023	130,590	277,889	0	0	659,206	1,771,404	2,295,985	2,154,441	1,514,492	1,708,435	589,855	1,080,484	84,885	42,442	98,199	831,775	1,024,393	293,346	739,291	1,035,214	1,457,208	120,426	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities and paydowns of held-to-maturity securities
646,212	608,173	627,397	460,510	428,433	409,557	546,384	465,588	470,232	424,237	477,378	390,180	416,206	450,213	463,250	391,283	351,834	341,999	418,757	398,095	336,511	270,541	253,677	74,236	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of non-marketable and other equity securities
12,177	36,118	60,781	23,122	16,165	25,139	28,336	7,698	20,401	25,281	9,278	8,943	545	7,007	10,686	18,827	12,412	9,210	8,551	11,770	9,924	287,919	17,569	20,530	9,824	4,828	9,161	5,746	5,112	12,184	12,628	92,501	9,005	15,821	14,905	15,487	12,868	16,603	16,744	11,771	8,332
Proceeds from sales and distributions of capital of non-marketable and other securities
45,720	23,155	31,184	39,208	19,979	12,005	7,881	65,762	9,377	15,231	12,056	12,021	11,744	8,505	26,356	18,087	9,977	23,115	22,128	48,090	45,120	231,223	117,880	53,951	92,558	29,826	51,002	30,355	21,748	30,350	34,477	34,166	25,545	14,216	20,686	21,216	24,639	18,873	9,992	11,015	4,859
Proceeds from sales of nonmarketable securities (cost and equity method accounting)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,213	19,212	19,053	11,759	26,691	12,436	7,942	19,343	8,636	11,950	11,317	15,065	7,636	8,475	5,413	7,962	5,494	4,922	1,769
Purchases of non-marketable and other securities (fair value accounting)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55,340	81,782	45,125	41,044	42,720	35,601	30,342	36,300	36,045	33,577	29,440	37,548	44,788	40,126	42,448	40,646	33,728	26,838	18,101
Net increase in loans
2,796,409	2,088,624	1,840,321	339,314	505,516	818,429	1,501,443	1,391,539	1,463,998	906,499	1,197,544	546,602	519,454	791,641	279,811	1,093,890	991,939	1,417,250	1,058,447	-200,639	53,886	2,377,084	662,667	506,866	-66,086	1,076,575	195,970	780,076	-108,971	745,884	400,765	672,644	144,957	637,533	343,055	325,139	123,975	660,354	412,702	241,513	-331,492
Proceeds from recoveries of charged-off loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	578	2,990	1,551	1,091	2,380	1,621	1,312	2,998	2,627	4,169	1,367	1,675	1,207	3,375	3,436	3,497	10,570	4,263	6,793	3,391	3,898	15,755	-6,256
Purchases of premises and equipment
25,088	31,608	15,239	13,128	5,504	17,147	13,867	7,134	7,717	15,414	13,974	10,897	10,599	16,127	13,127	10,377	13,680	16,453	12,926	12,501	12,038	13,099	10,588	12,770	5,974	9,167	7,291	6,940	6,606	771	13,473	11,962	8,054	9,256	8,757	7,232	5,611	6,025	7,811	6,457	6,763
Acquisition of SVB Leerink, net of cash acquired
0	0	0	2,291	100,037	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of deconsolidation due to adoption of ASU 2015-02
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	15,995	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	196
Payment for acquisition of intangibles, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	360
Net (cash used) provided by for investing activities
-599,041	-2,807,106	-6,247,755	-1,221,448	904,427	935,921	-1,166,189	-2,173,454	-2,396,653	-1,183,072	-2,767,894	-1,558,113	-461,417	-1,490,883	444,293	554,073	1,474,078	-3,123,627	-2,414,923	-418,976	-538,210	-3,256,737	-3,531,043	-4,729,283	-716,619	-2,963,867	-317,055	-90,392	532,326	-1,073,072	-831,837	166,721	-1,148,180	-1,593,064	-345,975	-339,833	-1,760,084	-2,656,945	-1,121,279	-1,197,566	-76,917
Cash flows from financing activities:
Net increase in deposits
154,150	2,214,933	3,932,334	3,283,343	2,998,297	732,789	-291,184	2,950,763	1,682,457	-557,958	2,346,742	1,385,591	2,099,832	790,452	592,849	-1,163,154	-383,055	2,093,359	1,422,452	1,695,851	-491,924	3,220,364	2,770,588	2,875,642	3,003,926	2,475,988	1,306,917	-619,834	133,456	1,451,386	-343,746	1,351,930	7,346	570,314	-139,252	948,155	993,378	1,921,996	274,532	627,119	1,181,357
Net increase (decrease) in short-term borrowings
3,120,732	-1,468	-5,354	9,797	-616,957	-1,999,840	2,214,006	-684,894	68,410	1,028,890	4,370	-4,693	-507,505	510,247	-500,798	503,219	-774,900	771,144	1,219	-75,229	69,985	1,151	1,720	100	-270	-500	180	-2,060	-158,650	-342,060	502,290	-843,500	849,380	0	0	-35,415	-1,830	-22,490	15,000	4,840	1,140
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests
-328	-18,976	-8,780	-7,502	-15,720	-5,709	-8,060	-6,318	-8,407	-5,319	-8,613	-7,848	-1,755	41	-2,515	-3,197	-2,524	-6,729	-5,270	-12,222	703	-127,170	31,565	29,901	-23,482	-16,036	6,019	16,396	-14,493	-4,899	30,606	16,277	17,073	16,451	38,567	21,719	19,441	29,152	23,181	14,106	19,260
Payment of preferred stock dividend
3,369	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of 3.50% Senior Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	346,431	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from public equity offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,434	-	2,006	8,139	5,065
Common stock repurchases
60,020	0	5,730	230,758	116,023	147,123	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock, ESPP and ESOP, net of restricted stock awards
-584	12,076	1,383	10,789	570	6,702	1,943	7,644	2,098	10,717	2,370	5,079	8,837	13,158	1,809	7,102	4,078	4,186	1,133	6,984	10,107	4,378	5,750	3,874	8,144	8,161	6,122	14,225	18,061	1,932	3,047	6,403	17,900	-	-	-	-	-	-	-	-
Tax effect from stock exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	2,660	287	1,896	-8,483	5,789	656	7,623	2,534	1,629	1,809	4,168	1,996	2,325	1,640	2,251	610	514	887	1,151	3,029	648	890	2,638	2,166	954	422	1,683	1,092
Net cash provided by financing activities
3,210,581	2,188,308	3,913,853	3,065,669	2,250,167	-1,413,181	1,916,705	2,267,195	1,744,558	424,784	2,344,869	1,331,894	1,599,409	1,316,558	91,632	-654,134	-1,164,884	2,867,749	1,420,190	1,623,007	-62,164	3,176,320	2,735,464	3,348,551	2,990,314	2,486,166	1,320,878	-589,022	-21,016	1,106,873	193,084	389,610	894,728	589,836	-95,654	389,309	1,027,589	1,936,642	659,435	649,067	1,207,914
Net increase in cash and cash equivalents
2,779,665	-164,413	-2,074,729	1,954,042	3,495,344	-247,602	1,107,040	92,717	-303,691	-632,496	-298,673	58,565	1,249,929	24,431	666,862	-14,055	365,255	-170,888	-951,405	1,361,704	-547,168	-61,523	-777,294	-1,212,633	2,323,685	-403,965	1,069,493	-645,998	510,266	102,303	-505,045	561,101	-264,324	-927,024	-523,247	215,159	-726,372	-701,937	-411,974	-501,360	1,178,850
Supplemental disclosures:
Cash paid during the period for:
Interest
46,145	53,458	69,652	48,303	46,548	20,920	26,951	7,319	20,411	4,268	19,031	4,337	17,956	3,601	18,375	3,535	17,407	3,097	17,234	3,090	11,859	4,922	12,724	4,847	12,688	3,574	12,684	3,283	12,372	3,048	12,087	3,901	12,012	3,427	12,151	11,024	14,601	12,685	3,912	13,373	5,618
Income taxes
31,988	42,767	68,975	293,034	17,570	99,037	83,706	184,297	9,385	87,117	53,335	134,067	3,304	54,278	28,649	122,047	35,778	38,005	89,040	46,840	46,599	53,812	79,689	59,571	15,486	34,949	42,859	45,105	19,318	26,584	10,102	52,436	6,556	29,535	20,977	48,445	4,891	20,403	484	19,747	1,129
Noncash items during the period:
Changes in unrealized gains and losses on available-for-sale securities, net of tax
348,923	-33,301	50,638	86,186	36,411	55,265	-17,908	-10,754	-42,101	-17,297	556	-3,066	-4,981	-70,474	-32,263	16,940	101,670	-80,297	34,695	-27,434	50,344	18,762	-28,418	58,688	17,488	-54,705	16,123	-103,022	-12,409	-12,558	16,183	17,536	2,451	-11,797	55,369	37,590	-15,473	-23,366	-13,599	37,482	16,651
Distributions of stock from investments
3,119	1,147	1,023	5,471	1,276	909	1,232	854	2,282	1,447	2,846	2,157	357	565	485	231	34	383	972	1,499	61,649	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in fair value of interest rate swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,525	-	7,086	10,139	3,137
Equity warrant assets
Changes in fair values of derivatives, net
-18,574	-	-	-	10,248	-	-	-	-	-	-	-	-	-	2,734	4,795	-3,159	-	9,265	12,626	20,404	24,167	12,538	-1,210	-13,356	14,914	12,298	5,053	-757	5,712	-6,613	7,654	3,370	5,868	7,123	12,203	1,008	5,423	1,370	-2,408	-518
Unrealized Gain (Loss) on Derivatives
-	-	-	-	-	-	-478	7,432	17,508	-	20,613	7,508	1,545	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivative
Changes in fair values of derivatives, net
63,034	-10,966	19,514	6,890	3,068	14,007	-11,732	12,696	-3,928	-6,047	291	-4,618	-3,887	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-