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: 2011 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 864 | 454 | 787 |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||
| Provision for loan losses | 18 | 27 | 38 |
| Net impairment losses on securities | 31 [1] | 36 | 60 |
| Stock-based compensation | 99 | 87 | 75 |
| Depreciation and amortization | 155 | 146 | 159 |
| Provision (benefit) for deferred income taxes | 52 | (51) | 16 |
| Premium (discount) amortization, net, on securities available for sale and securities held to maturity | 136 | 35 | (18) |
| Other | 9 | (3) | (32) |
| Originations of loans held for sale | (1,574) | (2,015) | (2,746) |
| Proceeds from sales of loans held for sale | 1,703 | 1,943 | 2,695 |
| Net change in: | |||
| Cash and investments segregated and on deposit for regulatory purposes | (2,211) | (4,376) | (3,688) |
| Receivables from brokers, dealers, and clearing organizations | 220 | 148 | 202 |
| Receivables from brokerage clients | 341 | (2,612) | (1,503) |
| Other securities owned | (231) | 581 | (290) |
| Other assets | (15) | 133 | (253) |
| Payables to brokers, dealers, and clearing organizations | (357) | 283 | 56 |
| Payables to brokerage clients | 3,407 | 4,886 | 5,990 |
| Accrued expenses and other liabilities | (183) | 289 | (111) |
| Net cash provided by (used for) operating activities | 2,464 | (9) | 1,437 |
| Cash Flows from Investing Activities | |||
| Purchases of securities available for sale | (18,434) | (15,697) | (14,342) |
| Proceeds from sales of securities available for sale | 500 | 871 | 107 |
| Principal payments on securities available for sale | 7,978 | 13,261 | 7,063 |
| Purchases of securities held to maturity | (2,253) | (14,906) | (5,470) |
| Principal payments on securities held to maturity | 4,786 | 2,672 | 139 |
| Net increase in loans to banking clients | (1,125) | (1,443) | (1,411) |
| Purchase of equipment, office facilities, and property | (180) | (129) | (140) |
| Cash acquired in business acquisition, net of cash paid | 54 | (44) | |
| Other investing activities | 7 | 5 | (3) |
| Net cash used for investing activities | (8,667) | (15,410) | (14,057) |
| Cash Flows from Financing Activities | |||
| Net change in deposits from banking clients | 10,264 | 11,328 | 14,979 |
| Issuance of long-term debt | 701 | 747 | |
| Repayment of long-term debt | (116) | (205) | (80) |
| Net proceeds from common stock offering | 543 | ||
| Dividends paid | (295) | (288) | (279) |
| Proceeds from stock options exercised and other | 96 | 35 | 53 |
| Other financing activities | 2 | (5) | (1) |
| Net cash (used for) provided by financing activities | 9,951 | 12,109 | 15,419 |
| Increase (Decrease) in Cash and Cash Equivalents | 3,748 | (3,310) | 2,799 |
| Cash and Cash Equivalents at Beginning of Year | 4,931 | 8,241 | |
| Cash and Cash Equivalents at End of Year | 8,679 | 4,931 | 8,241 |
| Supplemental Cash Flow Information | |||
| Cash paid during the year for: | |||
| Interest | 168 | 178 | 173 |
| Income taxes | 517 | 327 | 446 |
| Non-cash investing activities: | |||
| Common stock issued and equity awards assumed for business acquisitions (See note "3 - Business Acquisitions") | 714 | 106 | |
| Securities purchased during the year but settled after year end | 58 | 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 $18 million, $41 million, and $278 million, net of $(13) million, $5 million, and $218 million recognized in other comprehensive income in 2011, 2010, and 2009, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2011 | |
| 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 |