Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows GREENSTONE FARM CREDIT SERVICES, ACA (In thousands) For the year ended December 31 CASH FLOWS FROM OPERATING ACTIVITIES Net income Depreciation on premises and equipment Gain on sale of premises and equipment, net Amortization of premiums on loans and investment securities, net Provision for credit losses Stock patronage received from Farm Credit Institutions Write-down on acquired property Loss (gain) on acquired property, net Changes in operating assets and liabilities: Increase in accrued interest receivable Increase in other assets Increase in accrued interest payable Increase (decrease) in other liabilities Net cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES Increase in loans, net Purchases of investment in AgriBank, FCB, net (Purchases) redemptions of investment in other Farm Credit Institutions, net (Increase) decrease in investment securities, net Decrease in acquired property, net Purchases of premises and equipment, net Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Increase in note payable to AgriBank, FCB, net Patronage distributions paid Capital stock and participation certificates retired, net Net cash provided by financing activities Net change in cash Cash at beginning of year Cash at end of year
2019
2018
2017
$206,400 3,426 — 193 13,793 (19,255) 21 232
$185,161 3,240 (757) 200 17,324 (56) 156 704
$151,695 2,980 (205) 240 22,120 (52) 135 (119)
(23,617)
(16,502)
(18,115)
(2,905) 1,398 6,887 186,573
(8,477) 12,672 (1,530) 192,135
(6,686) 8,566 (892) 159,667
(765,972) (6,675) (199) (1,421) 1,374 (6,880) (779,773)
(400,449) (31,761) 201 4,642 928 (5,264) (431,703)
(396,371) (4,869) (653) 4,150 1,380 (6,795) (403,158)
675,633 (81,977) (456) 593,200 — 7 $7
289,876 (49,983) (325) 239,568 — 7 $7
276,772 (32,963) (318) 243,491 — 7 $7
SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES Stock financed by loan activities $2,174 $1,921 $2,067 Stock applied against loan principal 1,091 1,329 1,296 Stock applied against loan interest 8 8 5 Interest transferred to loans 15,429 12,351 10,858 Loans transferred to other property owned 1,450 2,196 1,598 Patronage distributions payable to members 100,000 82,000 50,000 Financed sales of other property owned 13 214 213 Financed sales of premises and equipment — 1,962 — Decrease in members’ equity from employee benefits (400) (6) (1,846) SUPPLEMENTAL INFORMATION Interest paid $203,211 $162,625 $125,472 Taxes paid, net 2,117 2,795 3,488 The accompanying notes are an integral part of these Consolidated Financial Statements.
Annual Report 2019
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