eTrade 2010 Annual Report Download - page 104
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E*TRADE FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS — (Continued)
(In thousands)
Year Ended December 31,
2010 2009 2008
Cash flows from financing activities:
Net increase (decrease) in deposits $ 626,291 $ (539,596) $ 246,556
Sale of deposits (980,549) — —
Net decrease in securities sold under agreements to repurchase (552,793) (919,784) (1,535,174)
Advances from FHLB 2,350,000 3,400,000 2,350,507
Payments on advances from FHLB (2,350,000) (5,000,000) (5,462,459)
Claims settlement under Section 16(b) 35,000 — —
Net cash flow from derivatives hedging liabilities (218,185) (161,074) (179,559)
Proceeds from issuance of common stock — 733,118 —
Proceeds from issuance of 12
1
⁄
2
% Notes — — 150,000
Other 4,106 (75,061) 14,257
Net cash used in financing activities (1,086,130) (2,562,397) (4,415,872)
Effect of exchange rates on cash 797 21,606 (44,645)
(Decrease) increase in cash and equivalents (1,108,892) (370,611) 2,075,605
Cash and equivalents, beginning of period 3,483,238 3,853,849 1,778,244
Cash and equivalents, end of period $ 2,374,346 $ 3,483,238 $ 3,853,849
Supplemental disclosures:
Cash paid for interest $ 425,211 $ 665,027 $ 1,612,976
(Refund received) cash paid for income taxes $ (78,734) $ 19,342 $ (415,258)
Non-cash investing and financing activities:
Conversion of convertible debentures to common stock $ 316,983 $ 720,930 $ —
Reclassification of loans held-for-investment to loans
held-for-sale $ 252,627 $ 389,337 $ —
Transfers from loans to available-for-sale securities $ 222,729 $ — $ —
Transfers from loans to other real estate owned and
repossessed assets $ 314,514 $ 272,306 $ 267,243
Convertible debentures issued in connection with the Debt
Exchange $ — $ 1,741,871 $ —
Capitalized interest in the form of 12
1
⁄
2
% Notes $ — $ 183,230 $ 121,000
Issuance of common stock upon acquisition $ — $ 9,000 $ 9,432
Issuance of common stock to retire debentures $ — $ — $ 555,177
See accompanying notes to the consolidated financial statements
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