10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SCHWAB CHARLES CORP | |||
Ticker: SCHW Fiscal Year: 2012 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 22, 2013) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Net Revenues | |||
| Asset management and administration fees | $ 2,043 | 1,928 | 1,822 |
| Interest revenue | 1,914 | 1,900 | 1,723 |
| Interest expense | (150) | (175) | (199) |
| Net interest revenue | 1,764 | 1,725 | 1,524 |
| Trading revenue | 868 | 927 | 830 |
| Other - net | 256 | 160 | 135 |
| Provision for loan losses | (16) | (18) | (27) |
| Net impairment losses on securities | (32) [1] | (31) | (36) |
| Total net revenues | 4,883 | 4,691 | 4,248 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 1,803 | 1,732 | 1,573 |
| Professional services | 388 | 387 | 341 |
| Occupancy and equipment | 311 | 301 | 272 |
| Advertising and market development | 241 | 228 | 196 |
| Communications | 220 | 220 | 207 |
| Depreciation and amortization | 196 | 155 | 146 |
| Class action litigation and regulatory reserve | 7 | 320 | |
| Money market mutual fund charges | 132 | ||
| Other | 274 | 269 | 282 |
| Total expenses excluding interest | 3,433 | 3,299 | 3,469 |
| Income before taxes on income | 1,450 | 1,392 | 779 |
| Taxes on income | 522 | 528 | 325 |
| Net Income | 928 | 864 | 454 |
| Preferred stock dividends | 45 | ||
| Net Income Available to Common Stockholders | 883 | 864 | 454 |
| Weighted-Average Common Shares Outstanding - Diluted | 1,275 [2] | 1,229 | 1,194 |
| Earnings Per Common Share - Basic | 0.69 | 0.70 | 0.38 |
| Earnings Per Common Share - Diluted | 0.69 | 0.70 | 0.38 |
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $15 million, $18 million, and $41 million, net of $(17) million, $(13) million, and $5 million recognized in other comprehensive income in 2012, 2011, and 2010, respectively. | |||
| [2] Antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS totaled 74 million, 63 million, and 52 million shares in 2012, 2011, and 2010, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SCHWAB CHARLES CORP | |||
Ticker: SCHW Fiscal Year: 2012 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 22, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Net Income | $ 928 | 864 | 454 |
| Other comprehensive income (loss), before tax: | |||
| Change in net unrealized gain on securities available for sale: | |||
| Net unrealized gain (loss) | 470 | (43) | 300 |
| Reclassification of impairment charges included in earnings | 32 | 31 | 36 |
| Other reclassifications included in earnings | (38) | 1 | 1 |
| Other | 1 | (1) | (1) |
| Other comprehensive income (loss), before tax | 465 | (12) | 336 |
| Income tax effect | 175 | (4) | 129 |
| Other comprehensive income (loss), net of tax | 290 | (8) | 207 |
| Comprehensive Income | 1,218 | 856 | 661 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SCHWAB CHARLES CORP | |||
Ticker: SCHW Fiscal Year: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 22, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 928 | 864 | 454 |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||
| Provision for loan losses | 16 | 18 | 27 |
| Net impairment losses on securities | 32 [1] | 31 | 36 |
| Stock-based compensation | 105 | 99 | 87 |
| Depreciation and amortization | 196 | 155 | 146 |
| Provision (benefit) for deferred income taxes | 5 | 52 | (51) |
| Premium amortization, net, on securities available for sale and securities held to maturity | 222 | 136 | 35 |
| Other | 26 | 9 | (3) |
| Originations of loans held for sale | (441) | (1,574) | (2,015) |
| Proceeds from sales of loans held for sale | 513 | 1,703 | 1,943 |
| Net change in: | |||
| Cash and investments segregated and on deposit for regulatory purposes | (2,549) | (2,211) | (4,376) |
| Receivables from brokers, dealers, and clearing organizations | (104) | 220 | 148 |
| Receivables from brokerage clients | (2,391) | 341 | (2,612) |
| Other securities owned | (43) | (231) | 581 |
| Other assets | 10 | (15) | 133 |
| Payables to brokers, dealers, and clearing organizations | 28 | (357) | 283 |
| Payables to brokerage clients | 4,950 | 3,407 | 4,886 |
| Accrued expenses and other liabilities | (237) | (183) | 289 |
| Net cash provided by (used for) operating activities | 1,266 | 2,464 | (9) |
| Cash Flows from Investing Activities | |||
| Purchases of securities available for sale | (29,035) | (18,434) | (15,697) |
| Proceeds from sales of securities available for sale | 3,336 | 500 | 871 |
| Principal payments on securities available for sale | 13,867 | 7,978 | 13,261 |
| Purchases of securities held to maturity | (8,678) | (2,253) | (14,906) |
| Principal payments on securities held to maturity | 5,453 | 4,786 | 2,672 |
| Net increase in loans to banking clients | (978) | (1,125) | (1,443) |
| Purchase of equipment, office facilities, and property | (148) | (180) | (129) |
| Cash (paid) acquired in business acquisitions - net | (80) | 54 | (44) |
| Other investing activities | 3 | 7 | 5 |
| Net cash used for investing activities | (16,260) | (8,667) | (15,410) |
| Cash Flows from Financing Activities | |||
| Net change in deposits from banking clients | 18,523 | 10,264 | 11,328 |
| Issuance of commercial paper | 300 | ||
| Issuance of long-term debt | 350 | 701 | |
| Repayment of long-term debt | (732) | (116) | (205) |
| Premium paid on debt exchange | (19) | ||
| Net proceeds from preferred stock offerings | 863 | ||
| Net proceeds from common stock offering | 543 | ||
| Dividends paid | (337) | (295) | (288) |
| Proceeds from stock options exercised and other | 35 | 96 | 35 |
| Other financing activities | (5) | 2 | (5) |
| Net cash provided by financing activities | 18,978 | 9,951 | 12,109 |
| Increase (Decrease) in Cash and Cash Equivalents | 3,984 | 3,748 | (3,310) |
| Cash and Cash Equivalents at Beginning of Year | 8,679 | 4,931 | |
| Cash and Cash Equivalents at End of Year | 12,663 | 8,679 | 4,931 |
| Supplemental Cash Flow Information | |||
| Cash paid during the year for: | |||
| Interest | 143 | 168 | 178 |
| Income taxes | 508 | 517 | 327 |
| Non-cash investing activities: | |||
| Common stock issued and equity awards assumed for business acquisitions (See note "3 - Business Acquisitions") | 714 | 106 | |
| Securities purchased during the year but settled after year end | 58 | ||
| Non-cash financing activity: | |||
| Transfer of trust related balances to deposits from banking clients | 442 | ||
| Exchange of Senior Notes (See note "14 - Borrowings") | 256 | ||
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $15 million, $18 million, and $41 million, net of $(17) million, $(13) million, and $5 million recognized in other comprehensive income in 2012, 2011, and 2010, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SCHWAB CHARLES CORP | ||
Ticker: SCHW Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 22, 2013) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| Assets | ||
| Cash and cash equivalents | $ 12,663 | 8,679 |
| Cash and investments segregated and on deposit for regulatory purposes (including resale agreements of $19,325 and $17,899 at December 31, 2012 and 2011, respectively) | 28,469 | 26,034 |
| Receivables from brokers, dealers, and clearing organizations | 333 | 230 |
| Receivables from brokerage clients - net | 13,458 | 11,072 |
| Other securities owned - at fair value | 636 | 593 |
| Securities available for sale | 46,123 | 33,965 |
| Securities held to maturity (fair value - $18,732 and $15,539 at December 31, 2012 and 2011, respectively) | 18,194 | 15,108 |
| Loans to banking clients - net | 10,726 | 9,812 |
| Loans held for sale | 70 | |
| Equipment, office facilities, and property - net | 675 | 685 |
| Goodwill | 1,228 | 1,161 |
| Intangible assets - net | 319 | 326 |
| Other assets | 813 | 818 |
| Total assets | 133,637 | 108,553 |
| Liabilities and Stockholders' Equity | ||
| Deposits from banking clients | 79,377 | 60,854 |
| Payables to brokers, dealers, and clearing organizations | 1,068 | 1,098 |
| Payables to brokerage clients | 40,330 | 35,489 |
| Accrued expenses and other liabilities | 1,641 | 1,397 |
| Long-term debt | 1,632 | 2,001 |
| Total liabilities | 124,048 | 100,839 |
| Stockholders' equity: | ||
| Preferred stock - $.01 par value per share; aggregate liquidation preference of $885 and $0 at December 31, 2012 and 2011, respectively | 865 | |
| Common stock - 3 billion shares authorized; $.01 par value per share; 1,487,543,446 shares issued | 15 | 15 |
| Additional paid-in capital | 3,881 | 3,826 |
| Retained earnings | 8,554 | 7,978 |
| Treasury stock, at cost - 210,014,305 shares and 216,378,623 shares at December 31, 2012 and 2011, respectively | (4,024) | (4,113) |
| Accumulated other comprehensive income | 298 | 8 |
| Total stockholders' equity | 9,589 | 7,714 |
| Total liabilities and stockholders' equity | 133,637 | 108,553 |
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2012 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |