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: 2013 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 24, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 1,071 | 928 | 864 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for loan losses | (1) | 16 | 18 |
| Net impairment losses on securities | 10 | 32 | 31 [1] |
| Stock-based compensation | 116 | 105 | 99 |
| Depreciation and amortization | 202 | 196 | 155 |
| (Benefit) provision for deferred income taxes | (21) | 5 | 52 |
| Premium amortization, net, on securities available for sale and securities held to maturity | 162 | 222 | 136 |
| Other | 15 | 26 | 9 |
| Originations of loans held for sale | (441) | (1,574) | |
| Proceeds from sales of loans held for sale | 513 | 1,703 | |
| Net change in: | |||
| Cash and investments segregated and on deposit for regulatory purposes | 4,916 | (2,549) | (2,211) |
| Receivables from brokers, dealers, and clearing organizations | (175) | (104) | 220 |
| Receivables from brokerage clients | (496) | (2,391) | 341 |
| Other securities owned | 119 | (43) | (231) |
| Other assets | 17 | 10 | (15) |
| Payables to brokers, dealers, and clearing organizations | 318 | 28 | (357) |
| Payables to brokerage clients | (4,997) | 4,950 | 3,407 |
| Accrued expenses and other liabilities | 400 | (237) | (183) |
| Net cash provided by operating activities | 1,656 | 1,266 | 2,464 |
| Cash Flows from Investing Activities | |||
| Purchases of securities available for sale | (22,942) | (29,035) | (18,434) |
| Proceeds from sales of securities available for sale | 6,167 | 3,336 | 500 |
| Principal payments on securities available for sale | 10,772 | 13,867 | 7,978 |
| Purchases of securities held to maturity | (16,061) | (8,678) | (2,253) |
| Principal payments on securities held to maturity | 3,895 | 5,453 | 4,786 |
| Net increase in loans to banking clients | (1,634) | (978) | (1,125) |
| Purchase of equipment, office facilities, and property | (249) | (148) | (180) |
| Cash (paid) acquired in business acquisitions - net | (80) | 54 | |
| Other investing activities | 2 | 3 | 7 |
| Net cash used for investing activities | (20,050) | (16,260) | (8,667) |
| Cash Flows from Financing Activities | |||
| Net change in deposits from banking clients | 13,595 | 18,523 | 10,264 |
| Issuance of commercial paper | 300 | ||
| Repayment of commercial paper | (300) | ||
| Issuance of long-term debt | 275 | 350 | |
| Repayment of long-term debt | (6) | (732) | (116) |
| Premium paid on debt exchange | (19) | ||
| Net proceeds from preferred stock offerings | 863 | ||
| Dividends paid | (368) | (337) | (295) |
| Proceeds from stock options exercised and other | 258 | 35 | 96 |
| Other financing activities | 5 | (5) | 2 |
| Net cash provided by financing activities | 13,459 | 18,978 | 9,951 |
| (Decrease) Increase in Cash and Cash Equivalents | (4,935) | 3,984 | 3,748 |
| Cash and Cash Equivalents at Beginning of Year | 12,663 | 8,679 | |
| Cash and Cash Equivalents at End of Year | 7,728 | 12,663 | 8,679 |
| Supplemental Cash Flow Information | |||
| Cash paid during the year for: | |||
| Interest | 99 | 143 | 168 |
| Income taxes | 624 | 508 | 517 |
| Non-cash investing activity: | |||
| Common stock issued and equity awards assumed for business acquisitions (See note "24 - Business Acquisitions") | 714 | ||
| Securities purchased during the period but settled after period end | 81 | 58 | |
| Non-cash financing activity: | |||
| Exchange of Senior Notes (See note 13 Borrowings) | 256 | ||
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $2 million, $15 million, and $18 million recognized in other comprehensive (loss) income, net of $(8) million, $(17) million, and $(13) million reclassified from other comprehensive (loss) income in 2013, 2012, and 2011, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2013 | |
| 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 |