Attached files
file | filename |
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8-K - JANUARY 2013 FORM 8-K - NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ | jan2013_8kcorrection.htm |
EX-99.3 - EXHBIT 99.1 - NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ | exhibit99_3.htm |
EX-99.1 - EXHBIT 99.1 - NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ | exhibit99_1.htm |
Exhibit 99.2
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
For the six months ended November 30, 2012
As filed
|
Adjustment
|
Corrected
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||
Net income
|
$
|
72,727
|
$
|
-
|
$
|
72,727
|
Adjustments to reconcile net income to net cash provided by operating activities
|
||||||
Amortization of deferred income
|
(4,710)
|
-
|
(4,710)
|
|||
Amortization of bond issuance costs and deferred charges
|
3,842
|
-
|
3,842
|
|||
Depreciation
|
2,625
|
-
|
2,625
|
|||
Provision for loan losses
|
5,305
|
-
|
5,305
|
|||
Recovery of guarantee liability
|
(101)
|
-
|
(101)
|
|||
Results of operations of foreclosed assets
|
5,674
|
-
|
5,674
|
|||
Derivative forward value
|
(961)
|
-
|
(961)
|
|||
Changes in operating assets and liabilities:
|
||||||
Accrued interest and other receivables
|
13,386
|
-
|
13,386
|
|||
Accrued interest payable
|
(6,329)
|
-
|
(6,329)
|
|||
Other
|
4,921
|
-
|
4,921
|
|||
Net cash provided by operating activities
|
96,379
|
-
|
96,379
|
|||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||
Advances made on loans
|
(2,584,296)
|
98,147
|
(2,486,149)
|
|||
Principal collected on loans
|
2,300,104
|
-
|
2,300,104
|
|||
Net investment in fixed assets
|
(2,961)
|
-
|
(2,961)
|
|||
Proceeds from foreclosed assets
|
29,110
|
-
|
29,110
|
|||
Investments in foreclosed assets
|
(57,111)
|
-
|
(57,111)
|
|||
Net proceeds from sale of loans
|
98,147
|
(98,147)
|
-
|
|||
Investments
|
(250,000)
|
-
|
(250,000)
|
|||
Change in restricted cash
|
(955)
|
-
|
(955)
|
|||
Net cash used in investing activities
|
(467,962)
|
-
|
(467,962)
|
|||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||
Proceeds from issuances of short-term debt, net
|
215,087
|
(124,234)
|
90,853
|
|||
Proceeds from issuances of short-term debt with original maturity greater than 90 days
|
-
|
322,406
|
322,406
|
|||
Repayments of short-term debt with original maturity greater than 90 days
|
-
|
(198,172)
|
(198,172)
|
|||
Issuance costs for revolving bank lines of credit
|
(1,447)
|
-
|
(1,447)
|
|||
Proceeds from issuance of long-term debt
|
1,254,167
|
-
|
1,254,167
|
|||
Payments for retirement of long-term debt
|
(730,293)
|
-
|
(730,293)
|
|||
Proceeds from issuance of members' subordinated certificates
|
55,548
|
-
|
55,548
|
|||
Payments for retirement of members' subordinated certificates
|
(6,066)
|
-
|
(6,066)
|
|||
Payments for retirement of patronage capital
|
(33,991)
|
-
|
(33,991)
|
|||
Cash paid portion of debt exchange premium
|
(133,406)
|
-
|
(133,406)
|
|||
Net cash provided by financing activities
|
619,599
|
-
|
619,599
|
|||
NET INCREASE IN CASH AND CASH EQUIVALENTS
|
248,016
|
-
|
248,016
|
|||
BEGINNING CASH AND CASH EQUIVALENTS
|
191,167
|
-
|
191,167
|
|||
ENDING CASH AND CASH EQUIVALENTS
|
$
|
439,183
|
$
|
-
|
$
|
439,183
|
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
For the six months ended November 30, 2011
As filed
|
Adjustment
|
Corrected
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||
Net loss
|
$
|
(113,916)
|
$
|
-
|
$
|
(113,916)
|
Adjustments to reconcile net loss to net cash provided by operating activities
|
||||||
Amortization of deferred income
|
(5,617)
|
-
|
(5,617)
|
|||
Amortization of bond issuance costs and deferred charges
|
6,038
|
-
|
6,038
|
|||
Depreciation
|
1,719
|
-
|
1,719
|
|||
Recovery of loan losses
|
(12,125)
|
-
|
(12,125)
|
|||
Recovery of guarantee liability
|
(72)
|
-
|
(72)
|
|||
Results of operations of foreclosed assets
|
16,466
|
-
|
16,466
|
|||
Derivative forward value
|
158,510
|
-
|
158,510
|
|||
Changes in operating assets and liabilities:
|
||||||
Accrued interest and other receivables
|
7,238
|
-
|
7,238
|
|||
Accrued interest payable
|
(12,236)
|
-
|
(12,236)
|
|||
Other
|
10,300
|
-
|
10,300
|
|||
Net cash provided by operating activities
|
56,305
|
-
|
56,305
|
|||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||
Advances made on loans
|
(3,260,727)
|
81,897
|
(3,178,830)
|
|||
Principal collected on loans
|
4,187,593
|
-
|
4,187,593
|
|||
Net investment in fixed assets
|
(11,432)
|
-
|
(11,432)
|
|||
Proceeds from foreclosed assets
|
18,849
|
-
|
18,849
|
|||
Investments in foreclosed assets
|
(29,179)
|
-
|
(29,179)
|
|||
Net proceeds from sale of loans
|
81,897
|
(81,897)
|
-
|
|||
Change in restricted cash
|
(955)
|
-
|
(955)
|
|||
Net cash provided by investing activities
|
986,046
|
-
|
986,046
|
|||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||
Repayments of issuances of short-term debt, net
|
(181,095)
|
135,869
|
(45,226)
|
|||
Proceeds from issuances of short-term debt with original maturity greater than
90 days
|
-
|
221,960
|
221,960
|
|||
Repayments of short-term debt with original maturity greater than 90 days
|
-
|
(357,829)
|
(357,829)
|
|||
Issuance costs for revolving bank lines of credit
|
(3,626)
|
-
|
(3,626)
|
|||
Proceeds from issuance of long-term debt, net
|
299,132
|
-
|
299,132
|
|||
Payments for retirement of long-term debt
|
(810,286)
|
-
|
(810,286)
|
|||
Proceeds from issuance of members' subordinated certificates
|
18,145
|
-
|
18,145
|
|||
Payments for retirement of members' subordinated certificates
|
(54,892)
|
-
|
(54,892)
|
|||
Payments for retirement of patronage capital
|
(43,697)
|
-
|
(43,697)
|
|||
Net cash used in financing activities
|
(776,319)
|
-
|
(776,319)
|
|||
NET INCREASE IN CASH AND CASH EQUIVALENTS
|
266,032
|
-
|
266,032
|
|||
BEGINNING CASH AND CASH EQUIVALENTS
|
293,615
|
-
|
293,615
|
|||
ENDING CASH AND CASH EQUIVALENTS
|
$
|
559,647
|
$
|
-
|
$
|
559,647
|