XML 38 R7.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net earnings$ 17,894$ 20,908
Adjustments to reconcile net earnings to net cash used in operating activities:  
Income from discontinued operations (4,310)
Net principal advances on SBA loans held for sale(16,258)(11,857)
Proceeds from sales of SBA loans held for sale, net23,6374,964
Proceeds applied to income from Portfolio Assets4,0592,170
Income from Portfolio Assets(33,902)(34,280)
Capitalized interest and costs on Portfolio Assets and loans receivable(471)(564)
Provision for loan and impairment losses2,3708,417
Foreign currency transaction losses (gains), net(763)433
Equity in earnings of unconsolidated subsidiaries(7,931)(14,007)
Gain on sale of SBA loans held for sale, net(1,836)(360)
Gain on sale of equity investments(312) 
Gain on sale of railroad property(948) 
Gain on business combinations(433)(891)
Gain on sale of investment security (3,250)
Depreciation and amortization2,1203,470
Net premium amortization of loans receivable(170)(225)
Stock-based compensation expense569496
Increase in restricted cash(845)(294)
Increase in service fees receivable(44)(1,475)
Increase in other assets(1,756)(966)
Deferred income tax expense (benefit)548(530)
Decrease in other liabilities3,0952,853
Net cash used in operating activities(11,377)(29,298)
Cash flows from investing activities:  
Purchases of property and equipment, net(1,507)(1,719)
Proceeds from sale of railroad property1,199 
Proceeds from sale of subsidiaries and equity investments 125
Cash paid for business combinations, net of cash acquired(2,599)(1,570)
Decrease in cash from deconsolidation of subsidiary (875)
Net principal payments on loans receivable1,3481,434
Purchases of SBA loans held for investment(696) 
Net principal payments (advances) on SBA loans held for investment(2,930)227
Purchase of investment securities available for sale(3,843)(2,636)
Net principal payments on investment securities available for sale1,400797
Proceeds from sale of investment security 3,250
Purchases of Portfolio Assets(12,792)(33,861)
Proceeds applied to principal on Portfolio Assets113,90691,570
Contributions to unconsolidated subsidiaries(34,016)(32,755)
Distributions from unconsolidated subsidiaries28,2878,226
Net cash provided by investing activities87,75732,213
Cash flows from financing activities:  
Borrowings under notes payable to affiliates696 
Borrowings under notes payable to banks and other37,31946,766
Principal payments of notes payable to affiliates(2,525)(154)
Principal payments of notes payable to banks and other(94,736)(81,211)
Payments of debt issuance costs and loan fees(313)(3,068)
Proceeds from secured borrowings, net(4,302)3,591
Contributions from noncontrolling interests2284,947
Distributions to noncontrolling interests(12,771)(22,516)
Cash paid for subsidiary shares in noncontrolling interests (324)
Proceeds from issuance of common stock70960
Net cash used in financing activities(76,334)(51,009)
Effect of exchange rate changes on cash and cash equivalents499(36)
Net cash provided by (used in) continuing operations545(48,130)
Cash flows from discontinued operations (See Note 4):  
Net cash provided by operating activities 6,214
Net cash used in financing activities (2,903)
Net cash provided by discontinued operations 3,311
Net increase (decrease) in cash and cash equivalents545(44,819)
Cash and cash equivalents, beginning of period46,59780,368
Cash and cash equivalents, end of period47,14235,549
Cash paid during the period for:  
Interest8,4778,368
Income taxes, net of refunds$ 2,544$ 276