eTrade 2010 Annual Report Download - page 175

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CONDENSED STATEMENT OF CASH FLOWS
(In thousands)
Year Ended December 31,
2010 2009 2008
Cash flows from operating activities:
Net loss $(28,472) $(1,297,762) $(511,790)
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
Depreciation and amortization (including discount amortization) 90,131 87,191 99,420
(Income) loss from subsidiaries(1) (188,740) 612,700 759,814
Dividends from E*TRADE Securities LLC(2) 124,000 63,000 49,000
Gain on sale of the international brokerage business — — (428,979)
(Gains) losses on early extinguishment of debt — 968,254 (21,517)
Other 22,071 30,744 44,923
Increase in other assets (10,216) (429,058) (508,675)
Increase in other liabilities 121,974 176,156 58,118
Net cash provided by (used in) operating activities 130,748 211,225 (459,686)
Cash flows from investing activities:
Purchases of property and equipment (81,467) (86,252) (98,883)
Cash contributions to subsidiaries (8,332) (653,438) (191,831)
Proceeds from sale of international brokerage business, net and other 11,361 9,000 467,471
Net cash (used in) provided by investing activities (78,438) (730,690) 176,757
Cash flows from financing activities:
Claims settlement under Section 16(b) 35,000 — —
Proceeds from issuance of common stock — 733,119 —
Proceeds from issuance of 12
1
⁄
2
% Notes — — 150,000
Other 3,370 (19,422) 64,530
Net cash provided by financing activities 38,370 713,697 214,530
Increase (decrease) in cash and equivalents 90,680 194,232 (68,399)
Cash and equivalents, beginning of period 377,496 183,264 251,663
Cash and equivalents, end of period $468,176 $ 377,496 $ 183,264
(1) Includes equity in (income) loss of subsidiaries, returns of capital and dividends received, except for E*TRADE Securities LLC.
(2) In the current year, the Company separately presented dividends from E*TRADE Securities LLC which were previously reported in the
Equity in (income) loss of subsidiaries line item. Prior periods have been re-presented to conform to current period presentation.
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