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CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)for the fiscal years ended September 30, 2009 2008 2007Net Income ........................................... $ 896,778 $ 1,588,213 $ 1,772,938Adjustments to reconcile net income to net cash provided byoperating activities:Depreciation and amortization ............................. 181,272 215,222 198,619Stock-based compensation ................................ 84,443 80,705 90,145Excess tax benefit from stock-based compensationarrangements ........................................ (4,923) (27,905) (33,517)Net losses (gains) on sale of assets ......................... 1,665 (36,418) (96,805)Equity in net income of affiliated companies ................. (17,727) (28,353) (63,566)Provision for loan losses ................................. 5,789 13,407 2,877Other-than-temporary impairment of investments .............. 63,068 13,845 863Deferred income taxes ................................... 13,182 10,742 51,120Changes in operating assets and liabilities:(Increase) decrease in receivables, prepaid expenses and other . . . (34,280) 88,463 (231,238)Principal collected on (originations of) loans held for sale, net . . . 17,959 (184,185) (635,482)Proceeds from securitization of loans held for sale ............. — 394,299 684,173Increase in trading securities, net ........................... (397,508) (687,246) (217,122)Advances of deferred sales commissions .................... (98,140) (121,885) (159,551)(Decrease) increase in income taxes payable .................. (25,258) (990) 70,891(Decrease) increase in commissions payable .................. (10,672) (44,669) 63,701Increase in other liabilities ................................ 40,775 117,192 115,663(Decrease) increase in accrued compensation and benefits ....... (75,021) 18,804 59,924Net cash provided by operating activities .................. 641,402 1,409,241 1,673,633Purchase of investments .................................. (1,869,562) (1,887,971) (1,018,145)Liquidation of investments ............................... 2,296,850 1,184,579 877,364Purchase of banking/finance investments .................... (208,920) (213,400) (49,083)Liquidation of banking/finance investments .................. 65,001 46,886 62,091Decrease (increase) in loans receivable ...................... 51,220 (162,718) 8,056Additions of property and equipment, net .................... (45,183) (70,215) (94,144)Acquisitions of subsidiaries, net of cash acquired .............. 533 6,717 (92,307)Net cash provided by (used in) investing activities ........... 289,939 (1,096,122) (306,168)Increase (decrease) in bank deposits, net ..................... 94,301 128,268 (106,896)Exercise of common stock options ......................... 24,356 13,317 66,131Dividends paid on common stock .......................... (192,784) (179,033) (142,747)Purchase of common stock ............................... (376,907) (1,543,311) (1,288,657)Excess tax benefits from stock-based compensationarrangements ........................................ 4,923 27,905 33,517Proceeds from issuance of debt ............................ 569,395 1,251,851 537,206Payments on debt ....................................... (649,231) (1,764,387) (677,310)Minority interest ........................................ 185,339 765,415 129,509Net cash used in financing activities ....................... (340,608) (1,299,975) (1,449,247)Effect of exchange rate changes on cash and cash equivalents .... (13,834) (69,775) 52,830Increase (decrease) in cash and cash equivalents .............. 576,899 (1,056,631) (28,952)Cash and cash equivalents, beginning of year ................. 2,527,552 3,584,183 3,613,135Cash and Cash Equivalents, End of Year .................. $ 3,104,451 $ 2,527,552 $ 3,584,183See Notes to Consolidated Financial Statements.71[Table continued on next page]