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Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating Activities:    
Net income $ 34,814 $ 44,849
Adjustments to reconcile net income to net cash (used in)/provided by operating activities:    
Depreciation and amortization 12,070 11,579
Amortization of loans and advances to financial advisors and other employees 28,544 23,528
Amortization of premium on available-for-sale securities 6,039 3,213
Provision for loan losses and allowance for loans and advances to financial advisors and other employees 586 (914)
Amortization of intangible assets 2,377 1,472
Deferred income taxes 12,598 (5,869)
Stock-based compensation 14,368 32,429
Excess tax benefits from stock-based compensation (23,574) (13,122)
Gain on the sale of investments (4,670) (26)
Other, net 1,066 (1,058)
Decrease/(increase) in operating assets:    
Cash segregated for regulatory purposes and restricted cash 5,990 0
Receivables:    
Brokerage clients (13,981) (58,089)
Brokers, dealers and clearing organizations (63,093) 113,378
Securities purchased under agreements to resell 25,932 36,186
Trading securities owned, including those pledged (159,794) (21,607)
Loans originated as mortgages held for sale (349,421) (386,444)
Proceeds from mortgages held for sale 378,466 386,647
Loans and advances to financial advisors and other employees (21,951) (18,711)
Other assets (20,748) 19,712
Increase/(decrease) in operating liabilities:    
Brokerage clients 56,107 3,764
Brokers, dealers and clearing organizations 19,419 (34,177)
Drafts (25,401) (19,729)
Trading securities sold, but not yet purchased 91,325 (23,907)
Other liabilities and accrued expenses (84,150) (69,550)
Net cash (used in)/provided by operating activities (77,082) 23,554
Investing Activities:    
Maturities, calls and principal paydowns on available-for-sale securities 277,866 63,078
Maturities, calls and principal paydowns on held-to-maturity securities 600 0
Sale or maturity of investments 50,234 38,180
Sale of bank branch 0 13,905
Sale of bank foreclosed assets held for sale 560 1,934
Increase in bank loans, net (87,409) (32,897)
Payments for:    
Purchase of available-for-sale securities (362,847) (215,828)
Purchase of held-to-maturity securities (25,334) 0
Purchase of investments (33,883) (54,896)
Purchase of fixed assets (26,181) (11,808)
Purchase of bank foreclosed assets held for sale (225) 0
Acquisitions 0 (500)
Net cash used in investing activities (206,619) (198,832)
Financing Activities:    
Net proceeds from short-term borrowings from banks 120,800 73,100
Decrease in securities sold under agreements to repurchase (67,131) (63,949)
Increase in bank deposits, net 17,511 225,701
Increase in securities loaned 87,965 55,081
Excess tax benefits from stock-based compensation 23,574 13,122
Issuance of common stock 0 865
Repurchase of common stock (3,555) (24,428)
Reissuance of treasury stock 2,234 508
Payment of Federal Home Loan Bank advances 0 (2,000)
Extinguishment of subordinated debt (1,284) (1,840)
Net cash provided by financing activities 180,114 276,160
Effect of exchange rate changes on cash 1,022 0
(Decrease)/increase in cash and cash equivalents (102,565) 100,882
Cash and cash equivalents at beginning of period 253,529 161,820
Cash and cash equivalents at end of period 150,964 262,702
Supplemental disclosure of cash flow information:    
Cash paid for interest 12,520 4,654
Cash paid for income taxes, net of refunds 6,036 25,107
Noncash investing and financing activities:    
Units, net of forfeitures $ 101,220 $ 54,524