INTL FCStone 2011 Annual Report Download - page 68

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INTL FCSTONE INC.Form10K54
PARTII
ITEM 8 Consolidated Financial Statements and Supplementary Data
Consolidated Cash Flows Statements
(in millions)
Year Ended September30,
2011 2010 2009
Cash fl ows from operating activities:
Net income $ 37.2 $ 5.1 $ 28.1
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization 4.7 1.7 0.7
Provision for bad debts and impairments 6.2 3.5 —
Deferred income taxes 1.8 3.7 (3.7)
Amortization of debt issuance costs and debt discount 1.6 0.2 0.2
Convertible debt interest settled in company stock upon conversion 0.2 — —
Noncontrolling interest — — 0.7
Amortization of stock-based compensation expense 2.3 1.9 1.9
Unrealized gains from INTL Consilium managed funds — — (2.0)
Loss on disposition of INTL Consilium — — 0.4
Extraordinary loss (gain) on acquisition of FCStone — 7.0 (18.5)
Impairment of INTL Sieramet — 1.1 1.1
Deconsolidation and impairment of Agora-X subsidiary — (2.9) —
Gain on acquisition of INTL Provident (0.4) — —
Changes in operating assets and liabilities, net:
Cash, securities and other assets segregated under federal and other regulations (104.1) (0.3) —
Deposits and receivables from exchange-clearing organizations (586.0) (4.2) —
Deposits and receivables from broker-dealers, clearing organizations, and counterparties 47.1 (57.6) 11.2
Receivable from customers, net (39.1) (18.2) 1.9
Notes receivable from customers, net 2.9 (7.0) —
Income taxes receivable 0.6 35.4 (4.6)
Financial instruments owned and securities purchased under agreements to resell, at fair value 280.7 (212.7) 44.9
Physical commodities inventory (35.6) (18.1) (49.6)
Other assets (12.1) 3.9 (2.2)
Accounts payable and other accrued liabilities 30.8 1.9 (6.0)
Payable to customers 366.2 415.3 26.1
Payable to broker-dealers, clearing organizations and counterparties (0.5) (0.4) (22.5)
Income taxes payable 1.6 0.4 0.6
Financial instruments sold, not yet purchased, at fair value 202.9 (46.7) (26.1)
Net cash provided by (used in) operating activities 209.0 113.0 (17.4)
Cash fl ows from investing activities:
Capital contribution of consolidated joint venture partner — — 0.2
Capital distribution to consolidated joint venture partner — — (2.8)
Deconsolidation of affi liates — (0.3) (8.2)
Disposition of affi liates — 0.2 0.4
Investment withdrawals from managed funds — — 17.9
Cash acquired with acquisition of FCStone — — 24.2
Cash paid for other acquisitions, net (9.3) (37.6) (1.1)
Purchase of exchange memberships and common stock (3.4) — —
Sale of exchange memberships and common stock 1.3 — —
Purchase of property and equipment (10.1) (4.7) (2.8)