INTL FCStone 2012 Annual Report Download - page 72
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PART II
ITEM 8 Financial Statements and Supplementary Data
Consolidated Cash Flows Statements
(in millions)
Year Ended September 30,
2012 2011 2010
Cash ows from operating activities:
Net income $ 14.9 $ 37.2 $ 5.1
Adjustments to reconcile net income to net cash (used in) provided by
operating activities:
Depreciation and amortization 7.2 4.7 1.7
Provision for bad debts and impairments 1.7 6.2 3.5
Deferred income taxes (0.3) 1.8 3.7
Amortization of debt issuance costs and debt discount 1.7 1.6 0.2
Convertible debt interest settled in company stock upon conversion — 0.2 —
Amortization of stock-based compensation expense 5.9 2.3 1.9
Extraordinary loss on acquisition of FCStone — — 7.0
Impairment of INTL Sieramet — — 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 (199.9) (104.1) (0.3)
Deposits and receivables from exchange-clearing organizations (97.7) (586.0) (4.2)
Deposits and receivables from broker-dealers, clearing organizations, and
counterparties 42.7 47.1 (57.6)
Receivable from customers, net 46.4 (39.1) (18.2)
Notes receivable, net (77.9) 2.9 (7.0)
Income taxes receivable (3.1) 0.6 35.4
Financial instruments owned, at fair value 58.3 280.7 (212.7)
Physical commodities inventory 29.0 (35.6) (18.1)
Other assets (1.6) (12.1) 3.9
Accounts payable and other accrued liabilities 10.6 30.8 1.9
Payable to customers 248.0 366.2 415.3
Payable to broker-dealers, clearing organizations and counterparties 35.9 (0.5) (0.4)
Income taxes payable 1.6 1.6 0.4
Financial instruments sold, not yet purchased, at fair value (215.5) 202.9 (46.7)
Net cash (used in) provided by operating activities (92.1) 209.0 113.0
Cash ows from investing activities:
Deconsolidation of a liates 0.4 — (0.3)
Disposition of a liates — — 0.2
Cash paid for acquisitions, net (11.7) (9.3) (37.6)
Purchase of exchange memberships and common stock — (3.4) —
Sale of exchange memberships and common stock — 1.3 —
Purchase of property and equipment (8.7) (10.1) (4.7)
Net cash used in investing activities (20.0) (21.5) (42.4)