eTrade 2011 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,
2011 2010 2009
Cash flows from financing activities:
Net increase (decrease) in deposits $ 1,219,455 $ 626,291 $ (539,596)
Sale of deposits — (980,549) —
Net decrease in securities sold under agreements to repurchase (872,750) (552,793) (919,784)
Advances from FHLB 2,220,000 2,350,000 3,400,000
Payments on advances from FHLB (2,250,000) (2,350,000) (5,000,000)
Net proceeds from issuance of senior notes 427,331 — —
Payments on senior notes (425,956) — —
Proceeds from issuance of common stock — — 733,118
Net cash flow from derivatives hedging liabilities (41,292) (218,185) (161,074)
Other (17,076) 39,106 (75,061)
Net cash provided by (used in) financing activities 259,712 (1,086,130) (2,562,397)
Effect of exchange rates on cash — 797 21,606
Decrease in cash and equivalents (274,507) (1,108,892) (370,611)
Cash and equivalents, beginning of period 2,374,346 3,483,238 3,853,849
Cash and equivalents, end of period $ 2,099,839 $ 2,374,346 $ 3,483,238
Supplemental disclosures:
Cash paid for interest $ 435,776 $ 425,211 $ 665,027
(Refund received) cash paid for income taxes $ (6,606) $ (78,734) $ 19,342
Non-cash investing and financing activities:
Conversion of convertible debentures to common stock $ 660,946 $ 316,983 $ 720,930
Transfers from loans to other real estate owned and
repossessed assets $ 180,964 $ 314,514 $ 272,306
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 $ —
Convertible debentures issued in connection with the Debt
Exchange $ — $ — $ 1,741,871
Capitalized interest in the form of 2017 Notes $ — $ — $ 183,230
Issuance of common stock upon acquisition $ — $ — $ 9,000
See accompanying notes to the consolidated financial statements
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