Attached files
| file | filename |
|---|---|
| 8-K - JANUARY 2013 FORM 8-K - NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ | jan2013_8kcorrection.htm |
| EX-99.2 - EXHBIT 99.1 - NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ | exhibit99_2.htm |
| EX-99.3 - EXHBIT 99.1 - NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ | exhibit99_3.htm |
Exhibit 99.1
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
For the year ended May 31, 2012
|
As filed
|
Adjustment
|
Corrected
|
||||
|
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||
|
Net loss
|
$
|
(148,797)
|
$
|
-
|
$
|
(148,797)
|
|
Adjustments to reconcile net loss to net cash provided by operating activities
|
||||||
|
Amortization of deferred income
|
(10,409)
|
-
|
(10,409)
|
|||
|
Amortization of bond issuance costs and deferred charges
|
10,897
|
-
|
10,897
|
|||
|
Depreciation
|
4,324
|
-
|
4,324
|
|||
|
Recovery of loan losses
|
(18,108)
|
-
|
(18,108)
|
|||
|
Provision for guarantee liability
|
726
|
-
|
726
|
|||
|
Results of operations of foreclosed assets
|
67,497
|
-
|
67,497
|
|||
|
Derivative forward value
|
223,774
|
-
|
223,774
|
|||
|
Changes in operating assets and liabilities:
|
||||||
|
Accrued interest and other receivables
|
26,164
|
-
|
26,164
|
|||
|
Accrued interest payable
|
(33,042)
|
-
|
(33,042)
|
|||
|
Other
|
(3,956)
|
25,000
|
21,044
|
|||
|
Net cash provided by operating activities
|
119,070
|
25,000
|
144,070
|
|||
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||
|
Advances made on loans
|
(6,411,857)
|
167,156
|
(6,244,701)
|
|||
|
Principal collected on loans
|
6,654,443
|
-
|
6,654,443
|
|||
|
Net investment in fixed assets
|
(18,300)
|
-
|
(18,300)
|
|||
|
Proceeds from foreclosed assets
|
39,566
|
-
|
39,566
|
|||
|
Investments in foreclosed assets
|
(49,728)
|
-
|
(49,728)
|
|||
|
Net proceeds from sale of loans
|
192,156
|
(192,156)
|
-
|
|||
|
Change in restricted cash
|
(4)
|
-
|
(4)
|
|||
|
Net cash provided by investing activities
|
406,276
|
(25,000)
|
381,276
|
|||
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||
|
Repayments of issuances of short-term debt, net
|
(73,806)
|
148,527
|
74,721
|
|||
|
Proceeds from issuances of short-term debt with original maturity greater than 90 days
|
-
|
411,750
|
411,750
|
|||
|
Repayments of short-term debt with original maturity greater than 90 days
|
-
|
(560,277)
|
(560,277)
|
|||
|
Issuance costs for revolving bank lines of credit
|
(3,672)
|
(3,672)
|
||||
|
Proceeds from issuance of long-term debt, net
|
2,081,533
|
2,081,533
|
||||
|
Payments for retirement of long-term debt
|
(2,519,650)
|
-
|
(2,519,650)
|
|||
|
Proceeds from issuance of members' subordinated certificates
|
34,325
|
-
|
34,325
|
|||
|
Payments for retirement of members' subordinated certificates
|
(102,115)
|
-
|
(102,115)
|
|||
|
Payments for retirement of patronage capital
|
(44,409)
|
-
|
(44,409)
|
|||
|
Net cash used in financing activities
|
(627,794)
|
-
|
(627,794)
|
|||
|
NET DECREASE IN CASH AND CASH EQUIVALENTS
|
(102,448)
|
-
|
(102,448)
|
|||
|
BEGINNING CASH AND CASH EQUIVALENTS
|
293,615
|
-
|
293,615
|
|||
|
ENDING CASH AND CASH EQUIVALENTS
|
$
|
191,167
|
$
|
-
|
$
|
191,167
|
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
For the year ended May 31, 2011
|
As filed
|
Adjustment
|
Corrected
|
||||
|
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||
|
Net income
|
$
|
151,215
|
$
|
-
|
$
|
151,215
|
|
Adjustments to reconcile net income to net cash provided by operating activities
|
||||||
|
Amortization of deferred income
|
(9,079)
|
-
|
(9,079)
|
|||
|
Amortization of bond issuance costs and deferred charges
|
16,298
|
-
|
16,298
|
|||
|
Depreciation
|
2,231
|
-
|
2,231
|
|||
|
Recovery of loan losses
|
(83,010)
|
-
|
(83,010)
|
|||
|
Recovery of guarantee liability
|
(673)
|
-
|
(673)
|
|||
|
Results of operations of foreclosed assets
|
15,989
|
-
|
15,989
|
|||
|
Derivative forward value
|
23,388
|
-
|
23,388
|
|||
|
Changes in operating assets and liabilities:
|
||||||
|
Accrued interest and other receivables
|
19,058
|
-
|
19,058
|
|||
|
Accrued interest payable
|
(19,213)
|
-
|
(19,213)
|
|||
|
Other
|
6,393
|
-
|
6,393
|
|||
|
Net cash provided by operating activities
|
122,597
|
-
|
122,597
|
|||
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||
|
Advances made on loans
|
(7,764,118)
|
326,707
|
(7,437,411)
|
|||
|
Principal collected on loans
|
6,932,195
|
-
|
6,932,195
|
|||
|
Net investment in fixed assets
|
(35,343)
|
-
|
(35,343)
|
|||
|
Proceeds from foreclosed assets
|
44,884
|
-
|
44,884
|
|||
|
Investments in foreclosed assets
|
(133,807)
|
-
|
(133,807)
|
|||
|
Net proceeds from sale of loans
|
326,707
|
(326,707)
|
-
|
|||
| Investments in equity securities |
(24)
|
-
|
(24)
|
|||
|
Change in restricted cash
|
8,019
|
-
|
8,019
|
|||
|
Net cash provided by investing activities
|
(621,487)
|
-
|
(621,487)
|
|||
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||
|
Proceeds from issuances of short-term debt, net
|
1,026,140
|
(134,160)
|
891,980
|
|||
|
Proceeds from issuances of short-term debt with original maturity greater than 90 days
|
-
|
607,283
|
607,283
|
|||
|
Repayments of short-term debt with original maturity greater than 90 days
|
-
|
(473,123)
|
(473,123)
|
|||
|
Issuance costs for revolving bank lines of credit
|
(4,209)
|
-
|
(4,209)
|
|||
|
Proceeds from issuance of long-term debt
|
2,412,703
|
-
|
2,412,703
|
|||
|
Payments for retirement of long-term debt
|
(2,988,805)
|
-
|
(2,988,805)
|
|||
|
Payments for retirement of subordinated deferrable debt
|
(125,000)
|
-
|
(125,000)
|
|||
|
Proceeds from issuance of members' subordinated certificates
|
65,691
|
-
|
65,691
|
|||
|
Payments for retirement of members' subordinated certificates
|
(59,824)
|
-
|
(59,824)
|
|||
|
Payments for retirement of patronage capital
|
(48,097)
|
-
|
(48,097)
|
|||
|
Net cash used in financing activities
|
278,599
|
-
|
278,599
|
|||
|
NET DECREASE IN CASH AND CASH EQUIVALENTS
|
(220,291)
|
-
|
(220,291)
|
|||
|
BEGINNING CASH AND CASH EQUIVALENTS
|
513,906
|
-
|
513,906
|
|||
|
ENDING CASH AND CASH EQUIVALENTS
|
$
|
293,615
|
$
|
-
|
$
|
293,615
|
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
For the year ended May 31, 2010
|
As filed
|
Adjustment
|
Corrected
|
||||
|
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||
|
Net income
|
$
|
110,547
|
$
|
-
|
$
|
110,547
|
|
Adjustments to reconcile net income to net cash provided by operating activities
|
||||||
|
Amortization of deferred income
|
(7,687)
|
-
|
(7,687)
|
|||
|
Amortization of bond issuance costs and deferred charges
|
13,011
|
-
|
13,011
|
|||
|
Depreciation
|
1,984
|
-
|
1,984
|
|||
|
Recovery of loan losses
|
(30,415)
|
-
|
(30,415)
|
|||
|
Provision for guarantee liability
|
(5,281)
|
-
|
(5,281)
|
|||
|
Results of operations of foreclosed assets
|
5,469
|
-
|
5,469
|
|||
|
Derivative forward value
|
(2,696)
|
-
|
(2,696)
|
|||
|
Changes in operating assets and liabilities:
|
||||||
|
Accrued interest and other receivables
|
30,032
|
-
|
30,032
|
|||
|
Accrued interest payable
|
(35,530)
|
-
|
(35,530)
|
|||
|
Other
|
4,386
|
-
|
4,386
|
|||
|
Net cash provided by operating activities
|
83,820
|
-
|
83,820
|
|||
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||
|
Advances made on loans
|
(6,950,561)
|
127,855
|
(6,822,706)
|
|||
|
Principal collected on loans
|
7,672,030
|
-
|
7,672,030
|
|||
|
Net investment in fixed assets
|
(14,504)
|
-
|
(14,504)
|
|||
|
Proceeds from foreclosed assets
|
1,000
|
-
|
1,000
|
|||
|
Net proceeds from sale of loans
|
127,855
|
(127,855)
|
-
|
|||
|
Investment in equity securities
|
(11,092)
|
-
|
(11,092)
|
|||
|
Change in restricted cash
|
(7,502)
|
-
|
(7,502)
|
|||
|
Net cash provided by investing activities
|
817,226
|
-
|
817,226
|
|||
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||
|
Proceeds from issuances of short-term debt, net
|
5,957
|
45,664
|
51,621
|
|||
|
Proceeds from issuances of short-term debt with original maturity greater than 90 days
|
-
|
700,716
|
700,716
|
|||
|
Repayments of short-term debt with original maturity greater than 90 days
|
-
|
(746,380)
|
(746,380)
|
|||
|
Issuance costs for revolving bank lines of credit
|
(8,501)
|
-
|
(8,501)
|
|||
|
Proceeds from issuance of long-term debt
|
1,714,521
|
-
|
1,714,521
|
|||
|
Payments for retirement of long-term debt
|
(2,651,172)
|
-
|
(2,651,172)
|
|||
|
Proceeds from issuance of members' subordinated certificates
|
156,197
|
-
|
156,197
|
|||
|
Payments for retirement of members' subordinated certificates
|
(69,701)
|
-
|
(69,701)
|
|||
|
Payments for retirement of patronage capital
|
(39,440)
|
-
|
(39,440)
|
|||
|
Net cash used in financing activities
|
(892,139)
|
-
|
(892,139)
|
|||
|
NET INCREASE IN CASH AND CASH EQUIVALENTS
|
8,907
|
-
|
8,907
|
|||
|
BEGINNING CASH AND CASH EQUIVALENTS
|
504,999
|
-
|
504,999
|
|||
|
ENDING CASH AND CASH EQUIVALENTS
|
$
|
513,906
|
$
|
-
|
$
|
513,906
|