STIFEL FINANCIAL CORP SF Cash Flow

Stifel financial corp (SF)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash Flows From Operating Activities:
Net income
449,986	393,968	182,871	81,520	92,336	176,067	162,013	138,573	84,134	1,907	-	55,502
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
38,400	27,900	32,500	43,147	36,715	29,280	33,988	30,066	28,267	23,843	23,216	13,946
Amortization of loans and advances to financial advisors and other employees
95,053	85,374	91,594	94,754	53,913	64,735	64,930	57,147	55,923	50,162	33,408	15,203
Amortization of premium on investment portfolio
-34,229	-25,307	-15,837	-12,258	-2,750	-5,847	-8,321	-16,153	-12,782	-8,552	-866	593
Provision for loan losses and allowance for loans and advances to financial advisors and other employees
11,007	19,601	25,985	17,793	14,694	9,713	10,618	3,457	2,243	123	298	1,801
Amortization of intangible assets
16,000	12,600	12,100	14,427	10,423	12,366	12,131	4,896	5,311	5,518	-	3,081
Deferred income taxes
-6,863	14,254	118,129	46,062	-5,732	-8,602	-26,389	45,519	25,764	-54,213	-10,270	-6,168
Tax deficit from stock-based compensation
-	-	-	-4,904	14,741	19,858	12,018	16,722	24,863	17,487	13,337	14,840
Stock-based compensation
102,190	100,789	140,461	186,303	165,641	94,006	137,447	40,747	26,411	190,731	47,962	54,356
(Gains)/losses on sale of investments
7,922	-22,780	2,359	-5,563	-9,255	-22	-13,319	45,434	-1,877	5,431	-14,303	-10,843
Gain on extinguishment of Stifel Financial Capital Trust
-	-	-	5,607	-	-	-	-	-	-	-	6,662
Other, net
38,554	10,723	-3,037	-4,676	13,159	9,778	-3,640	-181	841	3,622	-2,455	254
Gain on acquisition
-	-	-	-	-	-	7,566	-	-	-	-	-
Decrease/(increase) in operating assets, net of assets acquired:
Cash segregated for regulatory purposes
-	-	-	-	-	45,343	-128,142	125,536	-5,982	6,004	-21	-21
Receivables:
Brokerage clients
17,487	-182,619	-31,840	-177,300	-1,003,257	58,917	-42,627	72,220	-82,210	-93,765	-79,688	215,146
Brokers, dealers, and clearing organizations
8,655	56,467	-566,454	439,601	-82,960	263,391	30,634	23,588	-18,395	-63,132	198,034	70,036
Securities purchased under agreements to resell
314,892	-187,680	-263,632	-88,165	-105,345	169,997	-66,380	-83,240	48,162	1,237	-107,131	-4,478
Financial instruments owned, including those pledged
-335,548	123,765	217,386	175,602	-90,716	-26,280	-70,053	-1,517,458	-1,013,515	-1,104,317	332,315	-4,624
Loans originated as held for sale
1,848,568	1,341,108	1,564,386	2,658,254	1,855,714	1,132,671	1,275,647	288,657	43,467	-25,316	874,786	322,809
Proceeds from mortgages held for sale
1,782,455	1,345,109	1,558,327	2,624,950	1,814,168	1,112,318	1,372,552	-1,603,074	-1,060,457	-1,130,528	848,045	293,544
Loans and advances to financial advisors and other employees
210,646	116,921	72,215	92,830	187,234	79,216	71,857	63,948	46,426	46,376	-108,327	-49,065
Other assets
36,290	1,562	113,875	158,875	-100,670	2,509	-79,662	-8,476	-14,842	-22,473	14,136	-6,496
Increase/(decrease) in operating liabilities, net of liabilities assumed:
Brokerage clients
-210,712	9,173	-13,808	-158,408	678,926	2,554	23,433	49,623	33,244	-2,241	58,388	-3,245
Brokers, dealers, and clearing organizations
63,822	-16,383	-79,905	-62,105	98,301	-8,198	3,976	-1,492	-72,495	13,251	62,181	-21,594
Drafts
14,871	-2,156	12,592	-89,406	108,659	488	-15,723	14,532	2,653	6,284	17,563	-2,081
Financial instruments sold, but not yet purchased
-284,510	168,443	79,831	177,288	-65,521	106,051	85,127	56,652	65,296	-77,230	178,436	61,616
Other liabilities and accrued expenses
38,631	-21,579	135,894	-3,500	-193,151	18,288	48,988	-67,914	-70,310	54,295	25,072	-24,599
Net cash used in operating activities
626,861	529,526	679,916	-441,408	-83,727	317,363	702,219	-264,267	45,414	141,488	-347,250	350,293
Cash Flows From Investing Activities:
Principal paydowns, sales, calls, and maturities of available-for-sale securities
1,224,619	1,244,434	985,520	403,951	866,899	698,895	435,827	530,120	654,958	309,646	49,259	43,950
Calls and principal paydowns of held-to-maturity securities
482,079	827,905	370,019	251,439	126,258	96,618	93,703	15,464	9,450	-	-	-
Sale of equipment
-	21,699	-	-	-	-	-	-	-	-	-	-
Sale or maturity of investments
14,699	24,445	28,839	40,175	65,320	60,428	90,265	105,077	76,263	105,703	57,515	63,428
Sale of other real estate owned
8,950	-	-	-	-	131	373	-	929	2,099	-	-
Sale of bank foreclosed assets
-	-	-	-	75	-	-	221	-	-	3,734	1,340
Disposition of business, net
-	-	-	21,340	-	-	-	-	-	13,905	-	-
Sale of property
-	-	-	-	-	-	-	-	-	-	-	766
Increase in loans held for investment, net
1,208,817	1,079,546	1,374,959	2,462,405	517,563	668,354	249,018	180,115	243,592	55,214	2,626	60,314
Payments for:
Purchase of available-for-sale securities
239,965	550,162	1,583,369	1,961,419	991,954	416,851	1,314,290	945,343	895,391	747,376	568,910	24,909
Purchase of held-to-maturity securities
243,335	1,352,587	1,033,700	1,437,725	802,668	7,959	16,438	531,379	119,960	45,963	-	-
Purchase of fixed assets
157,897	108,207	28,217	28,211	69,822	26,632	32,278	18,837	59,730	27,736	27,892	21,647
Purchase of bank foreclosed loans held for sale
-	-	-	-	-	-	-	-	-	-	-	2,093
Purchase of investments
37,563	8,828	4,296	9,278	45,151	48,834	71,777	80,887	119,720	121,885	105,275	76,396
Acquisitions, net of cash received
193,097	8,394	7,220	72,383	604,659	80,378	88,592	120,180	18,817	483	251,652	10,589
Purchase of other real estate owned
-	-	-	-	-	-	-	-	-	-	4,966	-
Sale of aircraft
-	-	-	-	-	-	45,951	-	-	-	-	-
Net cash used in investing activities
-350,327	-989,241	-2,647,383	-5,254,516	-1,973,265	-392,936	-1,106,274	-1,225,859	-715,610	-567,304	-850,813	-86,464
Cash Flows From Financing Activities:
Repayments of borrowings, net
62,810	216,572	121,000	-	-	-	-	-	-	-	-	-
Proceeds from/(repayments of) short-term borrowings, net
-	-	-	287,916	-126,637	-55,700	-	105,300	89,800	18,800	90,800	-127,850
Repayments of short-term borrowings
-	-	-	-	-	-	249,000	-	-	-	-	-
Proceeds from issuance of senior notes, net
-	-	217,913	201,632	297,042	295,638	-	316,380	0	0	-	-
Proceeds from advances from the FHLB, net
-	-	245,000	352,000	148,000	-	-	-	-	-	-	-
Repayments of Federal Home Loan Bank advances, net
290,000	214,950	-	-	-	-	-	-	-	-	-	-
Extinguishment of Stifel Financial Capital Trust
-	7,500	-	9,393	-	-	-	-	-	-	-	-
Payment of contingent consideration
9,526	12,846	13,328	-	29,598	-	-	-	-	-	-	-
Issuance of preferred stock, net of issuance costs
-	-	-	145,051	-	-	-	-	-	-	-	-
Proceeds from issuance of non-recourse debt, net
-	-	-	-	-	-	-	58,992	-	-	-	-
Increase/(decrease) in securities sold under agreements to repurchase
-168,069	301,690	-34,842	-10,128	239,494	-224,629	123,463	60,170	-29,419	-12,938	120,317	2,216
Increase/(decrease) in bank deposits, net
-531,032	1,950,661	1,884,452	4,889,127	1,848,275	126,758	881,794	1,274,395	448,170	593,977	762,413	92,317
Increase/(decrease) in securities loaned
114,135	172,380	-166,900	146,838	325,707	-35,914	20,948	-105,208	97,537	11,158	-1,412	-114,211
Tax deficit from stock-based compensation
-	-	-	-4,904	14,741	19,858	12,018	16,722	24,863	17,487	13,337	14,840
Tax payments related to shares withheld for stock-based compensation plans
33,268	43,229	214,744	61,601	65,021	-	-	-	-	-	-	-
Proceeds from preferred stock issuance, net
154,988	-	-	-	-	-	-	-	-	-	136,464	-
Proceeds from non-controlling interests
26,800	30,000	-	-	-	-	-	-	-	-	-	-
Restricted stock conversions
-	-	-	-	-	67,094	-	-	-	-	-	-
Proceeds from stock option exercises
-	2,278	-	543	660	317	-	-	-	-	-	-
Proceeds from offering of common stock, net
-	-	-	-	-	-	-	-	-	-	-	64,369
Issuance of common stock for stock option exercises
-	-	-	-	-	-	650	41	3,983	865	2,719	2,580
Repurchase of common stock
215,430	170,204	12,998	113,462	117,752	-	13,670	11,380	48,505	91,769	-	12,141
Cash dividends on preferred stock
17,319	9,375	9,375	3,906	-	-	-	-	-	-	-	-
Cash dividends paid to common stock and equity-award holders
41,948	34,638	13,688	-	-	-	-	-	-	-	-	-
Other
-3,391	-	-	-	-	-	-	-	-	-	-	-
Reissuance of treasury stock
-	-	-	-	-	-	-	11,562	-	5,045	820	727
Repayment of non-recourse debt
-	-	-	-	-	-	58,992	-	-	-	-	-
Repayment of Senior Notes
-	-	-	150,000	175,000	-	-	-	-	23,000	-	-
Contingent consideration
-	-	-	13,110	-	-	-	-	-	-	-	-
Extinguishment of subordinated debt
-	-	-	-	-	3,131	2,187	1,639	1,284	1,840	1,300	914
Repayments of Federal Home Loan Bank advances
-	-	-	-	-	-	-	-	-	-2,000	-4,000	6,000
Net cash provided by/(used in) financing activities
-1,076,870	1,747,695	1,760,490	5,656,603	2,359,911	56,103	715,024	1,725,335	585,145	515,785	1,120,158	-72,067
Effect of exchange rate changes on cash
4,932	-5,691	7,895	-12,600	-3,601	-7,308	1,650	1,061	-807	1,740	-	-
Increase/(decrease) in cash, cash equivalents, and cash segregated for regulatory purposes
-795,404	1,282,289	-199,082	-51,921	299,318	-26,778	312,619	236,270	-85,858	91,709	-77,905	191,762
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds
161,926	67,379	21,516	22,946	59,356	107,009	5,803	4,630	5,547	54,984	15,617	31,966
Cash paid for interest
183,012	169,724	69,781	62,145	41,801	40,471	46,360	29,064	25,209	13,104	12,066	19,375
Noncash financing activities:
SubordinatedDebtClaims
-	-	-	-	-	-	-	-	-	-	3,166	-
PaymentofRyanBeckContingentEarn-out
-	-	-	-	-	-	-	-	-	-	9,301	-
Unit grants, net of forfeitures
139,408	136,529	71,300	190,211	267,769	190,003	228,230	145,563	138,203	157,546	89,633	65,609
Issuance of common stock for acquisitions
-	110,671	9,352	12,813	79,747	19,243	265,066	21,750	-	271,285	-	-
Shares surrendered into treasury
-	-	-	-	223	-	-	-	-	-	-	-
Stone & Youngberg contingent earn-out
-	-	-	-	-	-	3,266	-	-	-	-	-
Payment of Ryan Beck contingent earn-out
-	-	-	-	-	-	-	-	-	-	-	11,376
Liabilities subordinated to claims of general creditors
-	-	-	-	-	-	-	-	-	-	-	4,050
Extinguishment of debenture to Stifel Financial Capital Trust IV
-	-	-	-	-	-	-	-	-	-	-	5,975