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: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 26, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 3,704 | 3,507 | 2,354 |
| Adjustments to reconcile net income to net cash (used for) provided by operating activities: | |||
| Share-based compensation | 183 | 197 | 153 |
| Depreciation and amortization | 349 | 306 | 269 |
| Provision (benefit) for deferred income taxes | 2 | 49 | 58 |
| Premium amortization, net, on available for sale and held to maturity securities | 446 | 350 | 342 |
| Other | 199 | 137 | 51 |
| Net change in: | |||
| Investments segregated and on deposit for regulatory purposes | (977) | 6,922 | 4,933 |
| Receivables from brokerage clients | (125) | (1,100) | (3,428) |
| Other assets | (709) | (8) | (193) |
| Payables to brokerage clients | 6,494 | 1,483 | (4,651) |
| Accrued expenses and other liabilities | (241) | 613 | (727) |
| Net cash provided by (used for) operating activities | 9,325 | 12,456 | (839) |
| Cash Flows from Investing Activities | |||
| Purchases of available for sale securities | (31,815) | (32,801) | (15,033) |
| Proceeds from sales of available for sale securities | 24,495 | 115 | 8,617 |
| Principal payments on available for sale securities | 21,616 | 16,016 | 9,095 |
| Purchases of held to maturity securities | (19,441) | (40,873) | (32,925) |
| Principal payments on held to maturity securities | 19,606 | 17,410 | 11,627 |
| Net change in bank loans | (1,730) | (129) | (1,071) |
| Purchases of equipment, office facilities, and property | (708) | (570) | (400) |
| Purchases of Federal Home Loan Bank stock | (27) | (156) | (430) |
| Proceeds from sales of Federal Home Loan Bank stock | 24 | 529 | 106 |
| Other investing activities | (56) | (96) | (59) |
| Net cash provided by (used for) investing activities | 11,964 | (40,555) | (20,473) |
| Cash Flows from Financing Activities | |||
| Net change in bank deposits | (11,329) | 61,767 | 6,186 [1] |
| Net change in short-term borrowings | 0 | (15,000) | |
| Net change in short-term borrowings | 15,000 | ||
| Issuance of long-term debt | 593 | 3,024 | 2,129 |
| Repayment of long-term debt | 0 | (909) | (257) |
| Repurchases of common stock | (2,220) | (1,000) | 0 |
| Net proceeds from preferred stock offerings | 0 | 0 | 492 |
| Redemption of preferred stock | 0 | 0 | (485) |
| Dividends paid | (1,060) | (787) | (592) |
| Proceeds from stock options exercised | 118 | 125 | 171 |
| Other financing activities | (41) | (54) | (45) |
| Net cash provided by (used for) financing activities | (13,939) | 47,166 | 22,599 |
| Increase (Decrease) in Cash and Cash Equivalents, including Amounts Restricted | 7,350 | 19,067 | 1,287 |
| Cash and Cash Equivalents, including Amounts Restricted at Beginning of Year | 38,227 | 19,160 | |
| Cash and Cash Equivalents, including Amounts Restricted at End of Year | 45,577 | 38,227 | 19,160 |
| Supplemental Cash Flow Information | |||
| Non-cash investing activity: | |||
| Securities transferred from held to maturity to available for sale, at fair value | 8,771 | 0 | 0 |
| Securities transferred from available for sale to held to maturity, at fair value | 0 | 0 | 24,696 |
| Securities purchased during the period but settled after period end | 0 | 0 | 29 |
| Non-cash financing activity: | |||
| Extinguishment of finance lease obligation through an assignment agreement | 52 | 0 | 0 |
| Cash paid during the period for: | |||
| Interest | 1,075 | 798 | 327 |
| Income taxes | 1,199 | 927 | 1,212 |
| Amounts included in the measurement of lease liabilities | 133 [2] | ||
| Leased assets obtained in exchange for new operating lease liabilities (2) | 97 | ||
| Transfers from other sweep features to bank sweep | 10,300 | 71,900 | 4,900 |
| [1] Includes transfers from other sweep features to bank sweep of $10.3 billion, $71.9 billion and $4.9 billion for the years ended December 31, 2019, 2018 and 2017, respectively. | |||
| [2] These amounts are presented beginning in 2019 as part of the adoption of ASU 2016-02. See Notes 2 and 13 for additional information related to this adoption. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2019 | |
| 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 |