LPL Financial Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
LPLA$308.51+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (unaudited)
| LPL FINANCIAL HOLDINGS INC. AND SUBSIDIARIES | ||
|---|---|---|
| Condensed Consolidated Statements of Cash Flows | ||
| (In thousands) | ||
| (Unaudited) | ||
| Nine Months Ended September 30, | ||
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $787,867 | $848,695 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 216,495 | 179,058 |
| Amortization of other intangibles | 92,620 | 78,593 |
| Amortization of debt issuance costs | 8,489 | 6,283 |
| Share-based compensation | 64,954 | 52,522 |
| Provision for credit losses | 13,490 | 11,844 |
| Deferred benefit for income taxes | 38 | (160) |
| Loan forgiveness | 208,886 | 156,866 |
| Other | 38,260 | 12,774 |
| Changes in operating assets and liabilities: | ||
| Receivables from clients, net | (32,916) | (19,777) |
| Receivables from brokers, dealers and clearing organizations | (3,694) | 15,195 |
| Advisor loans, net | (649,310) | (414,826) |
| Other receivables, net | (66,162) | (50,351) |
| Investment securities - trading | (17,579) | 173 |
| Other assets | (203,098) | (98,923) |
| Client payables | (227,036) | (695,374) |
| Payables to brokers, dealers and clearing organizations | 47,717 | (49,055) |
| Accrued advisory and commission expenses payable | 36,340 | 3,708 |
| Accounts payable and accrued liabilities | (26,207) | (48,257) |
| Other liabilities | 169,061 | 383,456 |
| Operating leases | (1,848) | (2,381) |
| Net cash provided by operating activities | 456,367 | 370,063 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital expenditures | (397,008) | (297,435) |
| Acquisitions, net of cash acquired | (159,410) | (360,584) |
| Purchases of securities classified as held-to-maturity | (4,769) | (4,725) |
| Proceeds from maturities of securities classified as held-to-maturity | 3,750 | 4,250 |
| Net cash used in investing activities | (557,437) | (658,494) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from revolving credit facilities | 280,000 | 746,000 |
| Repayments of revolving credit facilities | (560,000) | (334,000) |
| Repayment of senior secured term loans | (8,025) | (8,025) |
| Proceeds from senior unsecured notes | 998,325 | — |
| Payment of debt issuance costs | (17,332) | (7,182) |
| Continued on following page | ||
| LPL FINANCIAL HOLDINGS INC. AND SUBSIDIARIES | ||
|---|---|---|
| Condensed Consolidated Statements of Cash Flows | ||
| (In thousands) | ||
| (Unaudited) | ||
| Nine Months Ended September 30, | ||
| 2024 | 2023 | |
| Payment of contingent consideration | (50,063) | — |
| Tax payments related to settlement of restricted stock units | (40,453) | (39,416) |
| Repurchase of common stock | (70,005) | (875,081) |
| Dividends on common stock | (67,268) | (69,562) |
| Proceeds from stock option exercises and other | 17,677 | 13,604 |
| Principal payment of finance leases and obligations | (247) | (143) |
| Net cash provided by (used in) financing activities | 482,609 | (573,805) |
| NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS, CASH AND EQUIVALENTS SEGREGATED UNDER FEDERAL OR OTHER REGULATIONS AND RESTRICTED CASH | 381,539 | (862,236) |
| CASH AND EQUIVALENTS, CASH AND EQUIVALENTS SEGREGATED UNDER FEDERAL OR OTHER REGULATIONS AND RESTRICTED CASH — Beginning of period | 2,581,163 | 3,137,270 |
| CASH AND EQUIVALENTS, CASH AND EQUIVALENTS SEGREGATED UNDER FEDERAL OR OTHER REGULATIONS AND RESTRICTED CASH — End of period | $2,962,702 | $2,275,034 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Interest paid | $161,658 | $134,328 |
| Income taxes paid | $301,505 | $89,097 |
| Cash paid for amounts included in the measurement of operating lease liabilities | $22,850 | $20,733 |
| Cash paid for amounts included in the measurement of finance lease liabilities | $6,526 | $6,414 |
| NONCASH DISCLOSURES: | ||
| Capital expenditures included in accounts payable and accrued liabilities | $49,443 | $14,923 |
| Lease assets obtained in exchange for operating lease liabilities | $25,963 | $14,602 |
| Contingent consideration liabilities recognized at acquisition date | $42,978 | $45,387 |
| September 30, | ||
| 2024 | 2023 | |
| Cash and equivalents | $1,474,954 | $799,209 |
| Cash and equivalents segregated under federal or other regulations | 1,382,867 | 1,370,108 |
| Restricted cash | 104,881 | 105,717 |
| Total cash and equivalents, cash and equivalents segregated under federal or other regulations and restricted cash shown in the statements of cash flows | $2,962,702 | $2,275,034 |
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