XML 40 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities    
Net income for the period $ 3,420 $ 3,893
Adjustments to reconcile net income to net cash used in operating activities    
Payment of taxes due for share-based awards (2,074)  
Depreciation and amortization of office facilities and leasehold improvements 1,941 2,514
Deferred income taxes 5,450 14,560
Amortization of notes receivable 4,491 4,739
Amortization of debt issuance costs 160 160
Amortization of mortgage servicing rights 656 640
Provision for (reversal of) credit losses 18 (17)
Share-based compensation 3,834 1,879
Decrease (increase) in operating assets:    
Cash and securities segregated for regulatory and other purposes 42 (4,164)
Deposits with clearing organizations (7,756) 1,378
Receivable from brokers, dealers and clearing organizations 34,510 188,744
Receivable from customers (85,799) (63,556)
Income tax receivable (4,223) (13,529)
Securities purchased under agreements to resell (65,723)  
Securities owned (79,928) (88,587)
Notes receivable (2,572) (2,445)
Loans held for sale 66,551 (2,811)
Mortgage servicing rights less amortization (1,003) (844)
Other assets 34,299 (18,946)
Increase (decrease) in operating liabilities:    
Drafts payable (6,892) (11,659)
Payable to brokers, dealers and clearing organizations 152,189 11,394
Payable to customers 3,000 (85,344)
Securities sold under agreements to repurchase (51,764) 151,745
Securities sold, but not yet purchased 67,139 (110,404)
Accrued compensation (75,841) (53,366)
Accounts payable and other liabilities (46,721) (31,645)
Cash provided by (used in) continuing operations (52,596) (105,671)
Cash flows from investing activities    
Purchase of office facilities (1,397) (5,120)
Cash used in investing activities (1,397) (5,120)
Cash flows from financing activities    
Cash dividends paid on Class A non-voting and Class B voting common stock (1,486) (1,497)
Issuance of Class A non-voting common stock 185  
Tax benefit from share-based awards 1,242  
Increase in bank call loans, net 78,800 75,700
Cash provided by financing activities 78,741 74,203
Net increase (decrease) in cash and cash equivalents 24,748 (36,588)
Cash and cash equivalents, beginning of period 98,294 135,366
Cash and cash equivalents, end of period 123,042 98,778
Schedule of non-cash financing activities    
Employee share plan issuance 1,733  
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 788 2,171
Cash paid during the period for income taxes, net of refunds $ 131 $ 1,725