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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net profit for the period$ 8,658$ 21,874
Non-cash items included in net profit:  
Depreciation and amortization9,2999,053
Deferred income tax2,45132,336
Amortization of notes receivable15,10315,062
Amortization of debt issuance costs734742
Amortization of intangibles3,2443,243
Provision for credit losses(317)336
Share-based compensation1183,979
Decrease (increase) in operating assets:  
Cash and securities segregated for regulatory and other purposes(57,502)(43,280)
Deposits with clearing organizations654(6,632)
Receivable from brokers and clearing organizations(32,422)1,824
Receivable from customers31,563(11,595)
Income taxes receivable7(30,566)
Securities purchased under agreement to resell(242,595)(61,713)
Securities owned(429,846)(183,638)
Notes receivable(11,282)(16,966)
Other29,625(19,252)
Increase (decrease) in operating liabilities:  
Drafts payable(15,006)(9,767)
Payable to brokers and clearing organizations55,215(30,972)
Payable to customers170,065(57,791)
Securities sold under agreement to repurchase469,904290,496
Securities sold, but not yet purchased50,928(9,132)
Accrued compensation(46,796)(36,971)
Accounts payable and other liabilities42,69875,501
Cash provided by (used in) operating activities54,500(63,829)
Cash flows from investing activities:  
Purchase of office facilities(3,865)(11,877)
Cash used in investing activities(3,865)(11,877)
Cash flows from financing activities:  
Cash dividends paid on Class A non-voting and Class B voting common stock(4,506)(4,401)
Issuance of Class A non-voting common stock3372,132
Tax shortfall from share-based compensation(1,621)(101)
Senior secured note issuance200,000 
Senior secured credit note repayment(22,503)(9,500)
Subordinated note repayment(100,000) 
Increase (decrease) in bank call loans, net(87,700)68,800
Cash (used in) provided by financing activities(15,993)56,930
Net increase (decrease) in cash and cash equivalents34,642(18,776)
Cash and cash equivalents, beginning of period52,85468,918
Cash and cash equivalents, end of period87,49650,142
Schedule of non-cash investing and financing activities:  
Employee share plan issuance10,4461,765
Supplemental disclosure of cash flow information:  
Cash paid during the periods for interest15,30915,933
Cash paid during the periods for income taxes$ 7,680$ 11,402