LendingClub Corp

For the period ended Dec 31, 2023. Filed Feb 16, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 16, 2024

HAPN$15.67-3.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

Year Ended December 31,	2023	2022	2021
Cash Flows from Operating Activities:
Net income	$38,939	$289,685	$18,580
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Net fair value adjustments	134,114	(8,503)	(3,986)
Change in fair value of loan servicing assets	62,581	73,229	54,108
Gain on sales of loans	(47,839)	(95,335)	(70,116)
Provision for credit losses	243,565	267,326	138,800
Accretion of loan deferred fees and costs	(90,723)	(86,138)	(41,319)
Stock-based compensation, net	52,389	66,362	66,759
Depreciation and amortization	47,195	43,831	44,285
Income tax benefit from release of tax valuation allowance	—	(143,495)	—
Other, net	(8,932)	(1,828)	11,263
Net change to loans held for sale	(1,535,037)	8,032	4,856
Net change in operating assets and liabilities:
Other assets	54,894	(16,762)	(9,733)
Other liabilities	(87,746)	(20,836)	26,372
Net cash (used for) provided by operating activities	(1,136,600)	375,568	239,869
Cash Flows from Investing Activities:
Acquisition of company	—	—	(145,344)
Cash received from acquisition	—	—	668,236
Net change in loans and leases	497,276	(2,771,293)	(1,517,132)
Net decrease in retail and certificate loans	47,545	171,853	437,870
Purchases of securities available for sale	(61,648)	(222,534)	(100,474)
Proceeds from sales of securities available for sale	—	—	106,192
Proceeds from maturities and paydowns of securities available for sale	97,709	86,078	143,402
Purchases of property, equipment and software, net	(59,509)	(69,481)	(34,413)
Other investing activities	(4,676)	(4,423)	(12,747)
Net cash provided by (used for) investing activities	516,697	(2,809,800)	(454,410)
Cash Flows from Financing Activities:
Net change in deposits	921,393	3,256,501	1,126,659
Principal payments on borrowings	(64,448)	(270,083)	(329,690)
Principal payments on retail notes and certificates	(47,545)	(182,260)	(438,032)
Other financing activities	(19,833)	(9,028)	(9,295)
Net cash provided by financing activities	789,567	2,795,130	349,642
Net Increase in Cash, Cash Equivalents and Restricted Cash	169,664	360,898	135,101
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	1,124,484	763,586	628,485
Cash, Cash Equivalents and Restricted Cash, End of Period	$1,294,148	$1,124,484	$763,586

Consolidated Statements of Cash Flows (Continued)

Year Ended December 31,	2023	2022	2021
Supplemental Cash Flow Information:
Cash paid for interest	$258,626	$79,732	$77,334
Cash paid for taxes	$6,631	$14,462	$4,799
Cash paid for operating leases included in the measurement of lease liabilities	$12,797	$15,540	$20,546
Non-cash investing activity:
Loans and leases held for investment transferred to loans held for sale	$—	$—	$402,960
Net securities retained from Structured Program transactions	$1,299,313	$—	$—
Non-cash investing and financing activity:
Net issuances of stock related to acquisition	$—	$—	$41,462
Non-cash financing activity:
Derecognition of payable to securitization note and residual certificate holders held in consolidated VIE	$—	$36,072	$—

The following presents cash, cash equivalents and restricted cash by category within the Balance Sheet:

	December 31, 2023	December 31, 2022
Cash and cash equivalents	$1,252,504	$1,057,030
Restricted cash	41,644	67,454
Total cash, cash equivalents and restricted cash	$1,294,148	$1,124,484

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.