eTrade 2009 Annual Report Download - page 106

E*TRADE FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS—(Continued)
(In thousands)
Year Ended December 31,
2009 2008 2007
Cash flows from financing activities:
Net (decrease) increase in deposits $ (539,596) $ 246,556 $ 1,806,961
Net decrease in securities sold under agreements to repurchase (919,784) (1,535,174) (855,054)
Net (decrease) increase in other borrowed funds (7,059) 7,379 (23,034)
Advances from other long-term borrowings 3,400,000 2,350,507 21,422,913
Payments on advances from other long-term borrowings (5,000,000) (5,462,459) (19,327,723)
Proceeds from issuance of common stock 733,118 — 338,978
Proceeds from issuance of 12
1
⁄ 2 % Notes — 150,000 1,193,767
Proceeds from issuance of trust preferred securities — — 41,000
Proceeds from issuance of common stock from employee stock
transactions — 2,420 35,981
Repurchases of common stock — — (148,632)
Net cash flow from derivatives hedging liabilities (161,074) (179,559) (28,927)
Other (68,002) 4,458 29,946
Net cash (used in) provided by financing activities (2,562,397) (4,415,872) 4,486,176
Effect of exchange rates on cash 21,606 (44,645) 69,365
(Decrease) increase in cash and equivalents (370,611) 2,075,605 566,010
Cash and equivalents, beginning of period 3,853,849 1,778,244 1,212,234
Cash and equivalents, end of period $ 3,483,238 $ 3,853,849 $ 1,778,244
Supplemental disclosures:
Cash paid for interest $ 665,027 $ 1,612,976 $ 2,204,505
Cash paid (refund received) for income taxes $ 19,342 $ (415,258) $ 123,005
Non-cash investing and financing activities:
Convertible debentures issued in connection with the Debt
Exchange $ 1,741,871 $ — $ —
Transfers from loans to other real estate owned and
repossessed assets $ 272,306 $ 267,243 $ 114,124
Conversion of convertible debentures to common stock $ 720,930 $ — $ —
Reclassification of loans held-for-investment to loans
held-for-sale $ 389,337 $ — $ —
Reclassification of loans held-for-sale to loans
held-for-investment $ — $ 4,049 $ 35,672
Issuance of common stock to retire debentures $ — $ 555,177 $ —
Capitalized interest in the form of 12
1
⁄ 2 % Notes $ 183,230 $ 121,000 $ —
Exchange of senior notes for 12
1
⁄ 2 % Notes $ — $ — $ 139,745
Issuance of common stock upon acquisition $ 9,000 $ 9,432 $ —
See accompanying notes to consolidated financial statements
103