XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net income $ 184,859 $ 54,640
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:    
Depreciation and amortization 26,976 31,928
Amortization of loans and advances to financial advisors and other employees 69,393 53,046
Amortization of premium on investment portfolio 11,248 8,561
Provision for loan losses and allowance for loans and advances to financial advisors and other employees 19,025 11,402
Amortization of intangible assets 9,092 10,558
Deferred income taxes 14,875 26,448
Tax deficit from stock-based compensation   5,797
Stock-based compensation 81,613 149,093
(Gains)/losses on sale of investments (2,888) 3,680
Gain on extinguishment of Stifel Financial Capital Trust   (5,607)
Other, net 2,377 4,479
Decrease/(increase) in operating assets, net of assets acquired:    
Cash segregated for regulatory purposes and restricted cash 48,060 226,903
Receivables:    
Brokerage clients 125,905 149,744
Brokers, dealers, and clearing organizations 689,648 36,681
Securities purchased under agreements to resell (209,747) (137,404)
Financial instruments owned, including those pledged (139,205) (399,342)
Loans originated as held for sale (1,152,654) (1,919,714)
Proceeds from mortgages held for sale 1,194,709 1,893,352
Loans and advances to financial advisors and other employees (46,699) (61,660)
Other assets (77,373) (135,030)
Increase/(decrease) in operating liabilities, net of liabilities assumed:    
Brokerage clients (94,594) (69,064)
Brokers, dealers, and clearing organizations 63,554 (42,812)
Drafts (17,089) (123,948)
Financial instruments sold, but not yet purchased 50,291 144,013
Other liabilities and accrued expenses 91,896 (95,292)
Net cash provided by/(used in) operating activities 943,272 (179,548)
Cash Flows From Investing Activities:    
Maturities and principal paydowns of available-for-sale securities 850,102 140,453
Calls and principal paydowns of held-to-maturity securities 193,140 163,913
Sale or maturity of investments 25,394 33,615
Disposition of business, net   12,597
Increase in bank loans, net (1,202,124) (1,821,877)
Payments for:    
Purchase of available-for-sale securities (1,350,033) (1,637,419)
Purchase of held-to-maturity securities (712,450) (551,984)
Purchase of investments (1,592) (9,873)
Purchase of fixed assets (21,153) (21,315)
Acquisitions, net of cash received (6,743) (71,924)
Net cash used in investing activities (2,225,459) (3,763,814)
Cash Flows From Financing Activities:    
Proceeds from/(repayments of) borrowings, net (299,000) 145,116
Proceeds from Federal Home Loan Bank advances, net 290,000 352,000
Payment of contingent consideration (13,328)  
Proceeds from issuance of senior notes, net   201,632
Proceeds from issuance of preferred stock, net   145,275
Decrease in securities sold under agreements to repurchase (113,150) (16,940)
Increase in bank deposits, net 1,356,478 3,247,085
Increase/(decrease) in securities loaned (166,901) 69,055
Tax deficit from stock-based compensation   (5,797)
Restricted stock conversions (76,242) (47,507)
Proceeds from stock option exercises   214
Repurchase of common stock (12,998) (113,462)
Cash dividends on preferred stock (7,031) (1,563)
Cash dividends on common stock (6,835)  
Extinguishment of Stifel Financial Capital Trust   (9,393)
Repayment of senior notes   (150,000)
Net cash provided by financing activities 950,993 3,815,715
Effect of exchange rate changes on cash 7,178 (8,315)
Decrease in cash and cash equivalents (324,016) (135,962)
Cash and cash equivalents at beginning of period 912,932 811,019
Cash and cash equivalents at end of period 588,916 675,057
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 18,591 22,063
Cash paid for interest 49,901 46,617
Noncash financing activities:    
Unit grants, net of forfeitures 55,941 158,345
Issuance of common stock for acquisitions $ 9,352 $ 11,427