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: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 22, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 928 | 864 | 454 |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||
| Provision for loan losses | 16 | 18 | 27 |
| Net impairment losses on securities | 32 [1] | 31 | 36 |
| Stock-based compensation | 105 | 99 | 87 |
| Depreciation and amortization | 196 | 155 | 146 |
| Provision (benefit) for deferred income taxes | 5 | 52 | (51) |
| Premium amortization, net, on securities available for sale and securities held to maturity | 222 | 136 | 35 |
| Other | 26 | 9 | (3) |
| Originations of loans held for sale | (441) | (1,574) | (2,015) |
| Proceeds from sales of loans held for sale | 513 | 1,703 | 1,943 |
| Net change in: | |||
| Cash and investments segregated and on deposit for regulatory purposes | (2,549) | (2,211) | (4,376) |
| Receivables from brokers, dealers, and clearing organizations | (104) | 220 | 148 |
| Receivables from brokerage clients | (2,391) | 341 | (2,612) |
| Other securities owned | (43) | (231) | 581 |
| Other assets | 10 | (15) | 133 |
| Payables to brokers, dealers, and clearing organizations | 28 | (357) | 283 |
| Payables to brokerage clients | 4,950 | 3,407 | 4,886 |
| Accrued expenses and other liabilities | (237) | (183) | 289 |
| Net cash provided by (used for) operating activities | 1,266 | 2,464 | (9) |
| Cash Flows from Investing Activities | |||
| Purchases of securities available for sale | (29,035) | (18,434) | (15,697) |
| Proceeds from sales of securities available for sale | 3,336 | 500 | 871 |
| Principal payments on securities available for sale | 13,867 | 7,978 | 13,261 |
| Purchases of securities held to maturity | (8,678) | (2,253) | (14,906) |
| Principal payments on securities held to maturity | 5,453 | 4,786 | 2,672 |
| Net increase in loans to banking clients | (978) | (1,125) | (1,443) |
| Purchase of equipment, office facilities, and property | (148) | (180) | (129) |
| Cash (paid) acquired in business acquisitions - net | (80) | 54 | (44) |
| Other investing activities | 3 | 7 | 5 |
| Net cash used for investing activities | (16,260) | (8,667) | (15,410) |
| Cash Flows from Financing Activities | |||
| Net change in deposits from banking clients | 18,523 | 10,264 | 11,328 |
| Issuance of commercial paper | 300 | ||
| Issuance of long-term debt | 350 | 701 | |
| Repayment of long-term debt | (732) | (116) | (205) |
| Premium paid on debt exchange | (19) | ||
| Net proceeds from preferred stock offerings | 863 | ||
| Net proceeds from common stock offering | 543 | ||
| Dividends paid | (337) | (295) | (288) |
| Proceeds from stock options exercised and other | 35 | 96 | 35 |
| Other financing activities | (5) | 2 | (5) |
| Net cash provided by financing activities | 18,978 | 9,951 | 12,109 |
| Increase (Decrease) in Cash and Cash Equivalents | 3,984 | 3,748 | (3,310) |
| Cash and Cash Equivalents at Beginning of Year | 8,679 | 4,931 | |
| Cash and Cash Equivalents at End of Year | 12,663 | 8,679 | 4,931 |
| Supplemental Cash Flow Information | |||
| Cash paid during the year for: | |||
| Interest | 143 | 168 | 178 |
| Income taxes | 508 | 517 | 327 |
| 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 | ||
| Non-cash financing activity: | |||
| Transfer of trust related balances to deposits from banking clients | 442 | ||
| Exchange of Senior Notes (See note "14 - Borrowings") | 256 | ||
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $15 million, $18 million, and $41 million, net of $(17) million, $(13) million, and $5 million recognized in other comprehensive income in 2012, 2011, and 2010, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2012 | |
| 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 |