10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SCHWAB CHARLES CORP | |||
Ticker: SCHW Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 454 | 787 | 1,212 |
| Adjustments to reconcile net income to net cash (used for) provided by operating activities: | |||
| Loss from discontinued operations, net of tax | 18 | ||
| Provision for loan losses | 27 | 38 | 17 |
| Net impairment losses on securities | 36 [1] | 60 | 44 |
| Stock-based compensation | 87 | 75 | 69 |
| Excess tax benefits from stock-based compensation | (3) | (8) | (50) |
| Depreciation and amortization | 146 | 159 | 152 |
| (Benefit) provision for deferred income taxes | (51) | 16 | 97 |
| Other | 35 | (42) | 53 |
| Originations of loans held for sale | (2,015) | (2,746) | (1,526) |
| Proceeds from sales of loans held for sale | 1,943 | 2,695 | 1,522 |
| Net change in: | |||
| Cash and investments segregated and on deposit for regulatory purposes | (4,376) | (3,688) | (5,882) |
| Receivables from brokers, dealers, and clearing organizations | 148 | 202 | (32) |
| Receivables from brokerage clients | (2,612) | (1,503) | 5,171 |
| Other securities owned | 581 | (290) | 48 |
| Other assets | 133 | (253) | 51 |
| Payables to brokers, dealers, and clearing organizations | 283 | 56 | (822) |
| Payables to brokerage clients | 4,886 | 5,990 | (34) |
| Accrued expenses and other liabilities | 289 | (111) | (106) |
| Net cash (used for) provided by operating activities | (9) | 1,437 | 2 |
| Cash Flows from Investing Activities | |||
| Purchases of securities available for sale | (15,697) | (14,342) | (9,839) |
| Proceeds from sales of securities available for sale | 871 | 107 | 14 |
| Principal payments on securities available for sale | 13,261 | 7,063 | 2,003 |
| Purchases of securities held to maturity | (14,906) | (5,470) | (245) |
| Principal payments on securities held to maturity | 2,672 | 139 | 2 |
| Net increase in loans to banking clients | (1,443) | (1,411) | (2,642) |
| Purchase of equipment, office facilities, and property | (129) | (140) | (188) |
| Cash payments for business acquisitions, net of cash acquired | (44) | (5) | |
| Other investing activities | 5 | (3) | (1) |
| Net cash used for investing activities | (15,410) | (14,057) | (10,901) |
| Cash Flows from Financing Activities | |||
| Net change in deposits from banking clients | 11,328 | 14,979 | 10,019 |
| Issuance of long-term debt | 701 | 747 | |
| Repayment of long-term debt | (205) | (80) | (20) |
| Net proceeds from common stock offering | 543 | ||
| Excess tax benefits from stock-based compensation | 3 | 8 | 50 |
| Dividends paid | (288) | (279) | (253) |
| Purchase of treasury stock | (350) | ||
| Proceeds from stock options exercised and other | 35 | 53 | 131 |
| Other financing activities | (8) | (9) | |
| Net cash provided by (used for) financing activities | 12,109 | 15,419 | 9,577 |
| (Decrease) Increase in Cash and Cash Equivalents | (3,310) | 2,799 | (1,322) |
| Cash and Cash Equivalents at Beginning of Year | 8,241 | 5,442 | |
| Cash and Cash Equivalents at End of Year | 4,931 | 8,241 | 5,442 |
| Supplemental Cash Flow Information | |||
| Cash paid during the year for: | |||
| Interest | 178 | 173 | 232 |
| Income taxes (2008 amount includes discontinued operations) | 327 | 446 | 767 |
| Non-cash investing activities: | |||
| Issuance of common stock for business acquisition | 106 | ||
| Securities purchased during the year but settled after year end | 1,267 | ||
| Non-cash financing activity: | |||
| Transfer of trust related balances to deposits from banking clients | 442 | ||
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $41 million, $278 million, and $44 million, net of $5 million, $218 million, and $0 million recognized in other comprehensive income in 2010, 2009, and 2008, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |