Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 14

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 14
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 as lessee, employee benefit plans, and income-tax related balances are recognized in accordance with other applicable GAAP, which may result in measurements that differ from fair value. After the adoption of ASU No. 2021-08—Business Combinations (Topic 805)—Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, contract assets and contract liabilities from contracts with customers discussed below, may result in measurements that differ from fair value as well. Business combinations are included in the Consolidated Financial Statements from the respective dates of acquisition. Historical reporting periods reflect only the results of legacy Webster operations. Merger-related costs are expensed in the period incurred and presented within the applicable non-interest expense category. Additional information regarding the Company’s mergers and acquisitions can be found within Note 2: Acquisitions and Joint Ventures.

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Cash and Cash EquivalentsCash and cash equivalents is comprised of Cash and due from banks and Interest-bearing deposits. Cash equivalents have an original maturity of three months or less.Cash and due from banks includes cash on hand, certain deposits at the FRB, and cash due from banks. Restricted cash related to Federal Reserve System requirements and cash collateral received on derivative positions are also included in Cash and due from banks.Interest-bearing deposits includes deposits at the FRB in excess of reserve requirements and federal funds sold to other financial institutions.The following table summarizes supplemental disclosures of cash flow information and non-cash investing and financing activities:Years ended December 31,(In thousands)202420232022Supplemental disclosure of cash flow information:Interest paid$1,611,201 $1,248,620 $240,851 Income taxes paid124,817 268,598 193,544 Non-cash investing and financing activities:Transfer of loans held for investment to foreclosed properties and repossessed assets$2,305 $10,485 $774 Transfer of returned finance lease equipment to assets held for sale5,626 5,139 — Transfer of loans held for investment to loans held for sale680,159 629,172 652,855 Transfer of loans held for sale to loans held for investment133,168 — — Transfer of property and equipment to assets held for sale750 — 4,800 Deposit overdrafts reclassified as loan balances7,146 10,432 8,721 ROU lease assets obtained in exchange for operating lease liabilities10,444 22,989 27,897