eTrade 2012 Annual Report Download - page 177
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CONDENSED STATEMENT OF CASH FLOWS
(In thousands)
Year Ended December 31,
2012 2011 2010
Cash flows from operating activities:
Net income (loss) $ (112,583) $ 156,701 $ (28,472)
Adjustments to reconcile net income (loss) to net cash (used in) provided by
operating activities:
Depreciation and amortization 50,026 84,026 90,131
Equity in undistributed income from subsidiaries (102,994) (154,376) (7,137)
(Gains) losses on early extinguishment of debt 137,405 (3,091) —
Other 45,312 16,035 22,071
Net effect of decrease (increase) in other assets 22,446 (153,874) (67,819)
Net effect of (decrease) increase in other liabilities (178,249) 5,697 121,974
Net cash (used in) provided by operating activities (138,637) (48,882) 130,748
Cash flows from investing activities:
Capital expenditures for property and equipment (26,792) (23,742) (81,467)
Sale of property and equipment to subsidiaries — 90,547 —
Cash contributions to subsidiaries (26,188) (9,500) (8,332)
Other 2,845 (177) 11,361
Net cash provided by (used in) investing activities (50,135) 57,128 (78,438)
Cash flows from financing activities:
Net proceeds from issuance of senior notes 1,305,000 427,331 —
Payments on senior and springing lien notes (1,173,736) (425,956) —
Claims settlement under Section 16(b) — — 35,000
Other (21,278) 613 3,370
Net cash provided by financing activities 109,986 1,988 38,370
(Decrease) increase in cash and equivalents (78,786) 10,234 90,680
Cash and equivalents, beginning of period 478,410 468,176 377,496
Cash and equivalents, end of period $ 399,624 $ 478,410 $468,176
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