Capital One 1999 Annual Report Download - page 66

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68
Statements of Cash Flows for the Year Ended December 31, 1999 1998 1997
Operating Activities:
Net income $ 363,091 $ 275,231 $ 189,381
Adjustments to reconcile net income to net cash
provided by operating activities:
Equity in undistributed (earnings) loss of subsidiaries (152,424) (19,902) 38,576
Decrease (increase) in other assets 4,236 (56,682) (2,183)
Increase in other liabilities 2,604 1,365 3,290
Net cash provided by operating activities 217,507 200,012 229,064
Investing Activities:
Purchases of securities available for sale (26,836)
Proceeds from maturities of securities available for sale 11,658
Increase in investment in subsidiaries (115,233) (172,119) (83,366)
Increase in loans to subsidiaries (233,780) (167,889) (102,507)
Net cash used for investing activities (364,191) (340,008) (185,873)
Financing Activities:
Increase in borrowings from subsidiaries (7,398) 50,900 3,300
Issuance of senior notes 224,684 199,213
Dividends paid (20,653) (20,533) (20,638)
Purchases of treasury stock (107,104) (91,672) (52,314)
Net proceeds from issuances of common stock 14,028 12,143 6,509
Proceeds from exercise of stock options 38,086 629 4,082
Net cash provided by (used for) financing activities 141,643 150,680 (59,061)
Increase (decrease) in cash and cash equivalents (5,041) 10,684 (15,870)
Cash and cash equivalents at beginning of year 10,887 203 16,073
Cash and cash equivalents at end of year $ 5,846 $ 10,887 $ 203