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: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 23, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 1,321 | 1,071 | 928 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for loan losses | (4) | (1) | 16 |
| Net impairment losses on securities | 1 | 10 | 32 [1] |
| Stock-based compensation | 115 | 116 | 105 |
| Depreciation and amortization | 199 | 202 | 196 |
| (Benefit) Provision for deferred income taxes | (25) | (21) | 5 |
| Premium amortization, net, on securities available for sale and securities held to maturity | 125 | 162 | 222 |
| Other | (7) | 15 | 26 |
| Originations of loans held for sale | (441) | ||
| Proceeds from sales of loans held for sale | 513 | ||
| Net change in: | |||
| Cash and investments segregated and on deposit for regulatory purposes | 2,772 | 4,916 | (2,549) |
| Receivables from brokers, dealers, and clearing organizations | 44 | (175) | (104) |
| Receivables from brokerage clients | (1,725) | (496) | (2,391) |
| Other securities owned | 1 | 119 | (43) |
| Other assets | (30) | 17 | 10 |
| Payables to brokers, dealers, and clearing organizations | 393 | 318 | 28 |
| Payables to brokerage clients | (1,028) | (4,997) | 4,950 |
| Accrued expenses and other liabilities | 196 | 400 | (237) |
| Net cash provided by operating activities | 2,348 | 1,656 | 1,266 |
| Cash Flows from Investing Activities | |||
| Purchases of securities available for sale | (15,134) | (22,942) | (29,035) |
| Proceeds from sales of securities available for sale | 6,556 | 6,167 | 3,336 |
| Principal payments on securities available for sale | 5,843 | 10,772 | 13,867 |
| Purchases of securities held to maturity | (6,920) | (16,061) | (8,678) |
| Principal payments on securities held to maturity | 2,687 | 3,895 | 5,453 |
| Net increase in loans to banking clients | (1,016) | (1,634) | (978) |
| Purchase of equipment, office facilities, and property | (400) | (249) | (148) |
| Cash (paid) acquired in business acquisitions - net | (80) | ||
| Other investing activities | (11) | 2 | 3 |
| Net cash used for investing activities | (8,395) | (20,050) | (16,260) |
| Cash Flows from Financing Activities | |||
| Net change in deposits from banking clients | 9,843 | 13,595 | 18,523 |
| Issuance of commercial paper | 300 | ||
| Repayment of commercial paper | (300) | ||
| Issuance of long-term debt | 275 | 350 | |
| Repayment of long-term debt | (6) | (6) | (732) |
| Premium paid on debt exchange | (19) | ||
| Net proceeds from preferred stock offerings | 863 | ||
| Dividends paid | (373) | (368) | (337) |
| Proceeds from stock options exercised and other | 189 | 258 | 35 |
| Other financing activities | 29 | 5 | (5) |
| Net cash provided by financing activities | 9,682 | 13,459 | 18,978 |
| Increase (Decrease) in Cash and Cash Equivalents | 3,635 | (4,935) | 3,984 |
| Cash and Cash Equivalents at Beginning of Year | 7,728 | 12,663 | |
| Cash and Cash Equivalents at End of Year | 11,363 | 7,728 | 12,663 |
| Supplemental Cash Flow Information | |||
| Cash paid during the period for: | |||
| Interest | 103 | 99 | 143 |
| Income taxes | 778 | 624 | 508 |
| Non-cash investing activity: | |||
| Securities purchased during the year but settled after year end | 143 | 81 | |
| Non-cash financing activity: | |||
| Exchange of Senior Notes | 256 | ||
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $1 million, $2 million, and $15 million recognized in other comprehensive income, net of less than $1 million, $(8) million, and $(17) million reclassified from other comprehensive income in 2014, 2013, and 2012, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2014 | |
| 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 |