NEWTEK BUSINESS SERVICES, INC. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2013 12 months to Dec 31, 2013	FY2012 12 months to Dec 31, 2012	FY2011 12 months to Dec 31, 2011
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net cash provided by (used in) provided by operating activities:
Income from tax credits
Accretion of interest expense
Fair value adjustments on SBA loans
Fair value adjustment of credits in lieu of cash and notes payable in credits in lieu of cash
Fair value adjustment on warrants
Deferred income taxes
Depreciation and amortization
Accretion of discount
Provision for loan losses
Lease restructuring charges
Other, net
Changes in operating assets and liabilities:
Originations of SBA loans held for sale
Originations of SBA loans transferred, subject to premium recourse
Proceeds from sale of SBA loans held for sale
Proceeds from sale of SBA loans, achieving sale status
Liability on SBA loans transferred, subject to premium recourse
Broker receivable
Accounts receivable
Prepaid expenses, accrued interest receivable and other assets
Accounts payable, accrued expenses, other liabilities and deferred revenue
Other, net
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Investments in qualified businesses
Returns of investments in qualified businesses
Purchase of fixed assets and customer accounts
SBA loans originated for investment, net
Payments received on SBA loans
Change in restricted cash
Purchase of non-controlling interest
Net cash used in investing activities
Cash flows from financing activities:
Net borrowings on bank lines of credit
Increase in cash due to consolidation of new subsidiary
Proceeds from term loan
Payments on bank term note payable
Payments on senior notes
Issuance of senior notes, net of issuance costs
Change in restricted cash due to debt refinancing
Change in restricted cash related to securitization
Additions to deferred financing costs
Proceeds from exercise of stock options
Purchase of treasury shares
Other, net
Net cash provided by financing activities
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents-beginning of year
Cash and cash equivalents-end of year
Supplemental disclosure of cash flow activities:
Cash paid for interest
Cash paid for taxes
Non-cash investing and financing activities:
Reduction of credits in lieu of cash and notes payable in credits in lieu of cash balances due to delivery of tax credits to Certified Investors
Refinance of line of credit to term loan
Additional paid in capital, upon acquisition of subsidiaries non-controlling interests
Conversion of loans held for investment to other real estate owned
Addition to assets and liabilities on January 1, 2012 as a result of consolidation of Exponential of New York, LLC
Assets
Liabilities
Equity
Addition to additional paid-in capital for warrants expired previously attributable to non-controlling interests
Initial allocation of value issued to warrants issued in financing transaction

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