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In millions, except per share items | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Interest income: |
Interest income on loans | 1,575.2 | 1,430.6 | 1,082.1 | 966.9 | 383.5 | 271.8 | 209.4 | 195.6 |
Interest income on investments | 160.6 | 117.7 | 58.5 | 37.7 | 23.3 | 17.9 | 16.2 | 16.6 |
| 1,754.3 | 1,568.7 | 1,152.6 | 1,031.7 | 410.4 | 291.8 | 227.3 | 214.1 |
Interest expense: |
Interest on deposits | 167.0 | 226.2 | 107.7 | 66.5 | 23.3 | 15.4 | 14.3 | 16.9 |
Interest on borrowings | | | | | | | | 0.5 |
| 228.6 | 298.7 | 150.8 | 94.3 | 29.3 | 17.8 | 14.7 | 17.4 |
Net interest income | 1,982.0 | 1,867.2 | 0.2 | 937.5 | 381.1 | 274.0 | 212.6 | 196.6 |
Provision for loan losses | 257.2 | 65.3 | 46.8 | 68.4 | 14.9 | 6.5 | 6.1 | 11.0 |
Net interest income after provision for loan losses | 1,724.8 | 1,801.9 | -46.6 | 869.0 | 366.2 | 267.5 | 206.5 | 185.6 |
Deposit and loan fees | | | | | | 25.5 | 22.4 | 21.9 |
Gain on sale of investments, net | 2.3 | 7.4 | 0.3 | 0.2 | | 0.6 | | 1.1 |
Other non-interest income | 298.6 | 232.2 | 451.6 | 435.8 | 122.4 | 54.1 | 40.7 | 37.3 |
Total non-interest income | 301.0 | 239.6 | 452.0 | 436.1 | 122.4 | 80.2 | 63.1 | 60.4 |
Non-interest expenses | 80.6 | 94.1 | 26.3 | 1,059.9 | 338.4 | 223.9 | 179.9 | 164.9 |
Pre-tax income before non-recurring items | 249.7 | 215.2 | 425.9 | 245.2 | 218.7 | 131.6 | 96.0 | 81.1 |
Non-recurring items | 30.3 | 69.9 | | | 68.5 | 7.8 | 6.4 | |
Pre-tax income | 219.5 | 145.2 | 425.9 | 245.2 | 150.1 | 123.8 | 89.6 | 81.1 |
Income taxes | -6.0 | -15.5 | -1.0 | -33.6 | 42.1 | 37.0 | 27.5 | 24.3 |
Tax rate | | | | | 28.0% | 29.9% | 30.7% | 30.0% |
Minority interest | 7.3 | 11.5 | 11.3 | 10.1 | | | | |
Net income | 212.8 | 285.5 | 289.3 | 243.0 | 108.0 | 86.8 | 62.1 | 56.8 |
Net margin | 10.5% | 14.0% | 71.4% | 18.6% | 22.1% | 25.0% | 23.0% | 23.1% |
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Basic EPS | $1.40 | $2.56 | $3.44 | $2.83 | $2.21 | $2.41 | $1.98 | $2.02 |
Diluted EPS | $1.40 | $2.55 | $3.43 | $2.83 | $2.18 | $2.39 | $1.97 | $2.00 |
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Shares outstanding (basic) | 151.8 | 111.6 | 84.1 | 85.7 | 49.0 | 36.1 | 31.4 | 28.2 |
Shares outstanding (diluted) | 151.9 | 111.8 | 84.3 | 85.7 | 49.6 | 36.4 | 31.6 | 28.4 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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