eTrade 2004 Annual Report Download - page 137
Download and view the complete annual report
Please find page 137 of the 2004 eTrade annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Table of Contents
Index to Financial Statements
STATEMENTS OF CASH FLOWS
(in thousands)
127
Year Ended December 31,
2004
2003
2002
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)
$
380,483
$
203,027
$
(186,405
)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating
activities:
Equity in undistributed income of Bank subsidiary
(215,614
)
(133,632
)
(113,514
)
Equity in undistributed (income) loss of other subsidiaries
(144,283
)
(101,262
)
34,733
Equity in net income of investments
(10,272
)
(14,584
)
(9,933
)
Depreciation and amortization
54,664
57,668
72,879
(Gain) loss on investments and impairment charges
(1,427
)
(93
)
8,356
Unrealized loss on venture fund
5,412
4,103
8,621
Non cash restructuring costs and other exit charges
14,478
30,770
29,336
Cumulative effect of accounting change
—
—
229,316
Gain on early extinguishment of debt
—
—
(
8,669
)
Other
4,645
(1,348
)
4,844
Other changes, net:
Other assets and liabilities, net
95,684
(32,691
)
95,817
Decrease in restructuring liabilities
(9,299
)
(27,389
)
(25,075
)
Net cash provided by (used in) operating activities
174,471
(15,431
)
140,306
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
(70,206
)
(38,344
)
(110,083
)
Purchase of investments
(10,566
)
(5,800
)
(6,894
)
Proceeds from sale/maturity of investments
16,409
4,246
13,472
Advances to other subsidiaries
—
(
68,153
)
(109,699
)
Restricted deposits
—
—
71,888
Other
—
(
1,471
)
2,125
Net cash used in investing activities
(64,363
)
(109,522
)
(139,191
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of investments
—
4,946
—
Proceeds from issuance of common stock
43,974
51,740
13,742
Proceeds from issuance of Senior Notes
394,000
—
—
Repurchase of treasury stock
(175,776
)
—
(
43,481
)
Dividends issued by subsidiary
43,512
50,000
50,000
Payments on call of subordinated notes
(428,902
)
—
—
Payment of capital leases
(734
)
(6,031
)
(14,431
)
Other
260
9,123
(4,512
)
Net cash provided by (used in) financing activities
(123,666
)
109,778
1,318
(DECREASE) INCREASE IN CASH AND EQUIVALENTS
(13,558
)
(15,175
)
2,433
CASH AND EQUIVALENTS
—
Beginning of year
82,565
97,740
95,307
CASH AND EQUIVALENTS
—
End of year
$
69,007
$
82,565
$
97,740