10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SCHWAB CHARLES CORP | |||
Ticker: SCHW Fiscal Year: 2015 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net Revenues | |||
| Asset management and administration fees | $ 2,650 | 2,533 | 2,315 |
| Interest revenue | 2,657 | 2,374 | 2,085 |
| Interest expense | (132) | (102) | (105) |
| Net interest revenue | 2,525 | 2,272 | 1,980 |
| Trading revenue | 866 | 907 | 913 |
| Other | 328 | 343 | 236 |
| Provision for loan losses | 11 | 4 | 1 |
| Net impairment losses on securities | (1) | (10) | |
| Total net revenues | 6,380 | 6,058 | 5,435 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 2,241 | 2,184 | 2,027 |
| Professional services | 459 | 457 | 415 |
| Occupancy and equipment | 353 | 324 | 309 |
| Advertising and market development | 249 | 245 | 257 |
| Communications | 233 | 223 | 220 |
| Depreciation and amortization | 224 | 199 | 202 |
| Other | 342 | 311 | 300 |
| Total expenses excluding interest | 4,101 | 3,943 | 3,730 |
| Income before taxes on income | 2,279 | 2,115 | 1,705 |
| Taxes on income | 832 | 794 | 634 |
| Net Income | 1,447 | 1,321 | 1,071 |
| Preferred stock dividends and other | 83 | 60 | 61 [1] |
| Net Income Available to Common Stockholders | 1,364 | 1,261 | 1,010 |
| Weighted-Average Common Shares Outstanding: Basic | 1,315 | 1,303 | 1,285 |
| Weighted-Average Common Shares Outstanding: Diluted | 1,327 | 1,315 | 1,293 |
| Earnings Per Common Share: Basic | 1.04 | 0.96 | 0.78 |
| Earnings Per Common Share: Diluted | 1.03 | 0.95 | 0.78 |
| Dividends Declared Per Common Share | 0.24 | 0.24 | 0.24 |
| [1] Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SCHWAB CHARLES CORP | |||
Ticker: SCHW Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 1,447 | 1,321 | 1,071 |
| Other comprehensive income (loss), before tax: | |||
| Change in net unrealized gain on securities available for sale: | |||
| Net unrealized gain (loss) | (477) | 255 | (468) |
| Reclassification of impairment charges included in net impairment losses on securities | 1 | 10 | |
| Other reclassifications included in other revenue | (7) | (7) | |
| Other | 1 | ||
| Other comprehensive income (loss), before tax | (477) | 249 | (464) |
| Income tax effect | 178 | (93) | 175 |
| Other comprehensive income (loss), net of tax | (299) | 156 | (289) |
| Comprehensive Income | 1,148 | 1,477 | 782 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SCHWAB CHARLES CORP | |||
Ticker: SCHW Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 1,447 | 1,321 | 1,071 |
| Adjustments to reconcile net income to net cash (used for) provided by operating activities: | |||
| Provision for loan losses | (11) | (4) | (1) |
| Net impairment losses on securities | 1 | 10 | |
| Stock-based compensation | 135 | 115 | 116 |
| Depreciation and amortization | 224 | 199 | 202 |
| (Benefit) Provision for deferred income taxes | (7) | (25) | (21) |
| Premium amortization, net, on securities available for sale and securities held to maturity | 162 | 125 | 162 |
| Other | (4) | (7) | 15 |
| Net change in: | |||
| Cash and investments segregated and on deposit for regulatory purposes | 1,183 | 2,772 | 4,916 |
| Receivables from brokers, dealers, and clearing organizations | (108) | 44 | (175) |
| Receivables from brokerage clients | (1,652) | (1,725) | (496) |
| Other securities owned | (17) | 1 | 119 |
| Other assets | (98) | (30) | 17 |
| Payables to brokers, dealers, and clearing organizations | 808 | 393 | 318 |
| Payables to brokerage clients | (1,120) | (1,028) | (4,997) |
| Accrued expenses and other liabilities | 304 | 196 | 400 |
| Net cash provided by operating activities | 1,246 | 2,348 | 1,656 |
| Cash Flows from Investing Activities | |||
| Purchases of securities available for sale | (21,351) | (15,134) | (22,942) |
| Proceeds from sales of securities available for sale | 2,424 | 6,556 | 6,167 |
| Principal payments on securities available for sale | 7,340 | 5,843 | 10,772 |
| Purchases of securities held to maturity | (19,303) | (6,920) | (16,061) |
| Principal payments on securities held to maturity | 3,540 | 2,687 | 3,895 |
| Net increase in bank loans | (980) | (1,016) | (1,634) |
| Purchase of equipment, office facilities, and property | (266) | (400) | (249) |
| Other investing activities | (27) | (11) | 2 |
| Net cash used for investing activities | (28,623) | (8,395) | (20,050) |
| Cash Flows from Financing Activities | |||
| Net change in bank deposits | 26,687 | 9,843 | 13,595 |
| Repayment of commercial paper | (300) | ||
| Issuance of long-term debt | 1,346 | 275 | |
| Repayment of long-term debt | (357) | (6) | (6) |
| Net proceeds from preferred stock offerings | 581 | ||
| Dividends paid | (387) | (373) | (368) |
| Proceeds from stock options exercised and other | 90 | 189 | 258 |
| Other financing activities | 32 | 29 | 5 |
| Net cash provided by financing activities | 27,992 | 9,682 | 13,459 |
| Increase (Decrease) in Cash and Cash Equivalents | 615 | 3,635 | (4,935) |
| Cash and Cash Equivalents at Beginning of Year | 11,363 | 7,728 | |
| Cash and Cash Equivalents at End of Year | 11,978 | 11,363 | 7,728 |
| Supplemental Cash Flow Information | |||
| Cash paid during the period for: | |||
| Interest | 121 | 103 | 99 |
| Income taxes | 810 | 778 | 624 |
| Non-cash investing activity: | |||
| Securities purchased during the year but settled after year end | 143 | 81 | |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SCHWAB CHARLES CORP | ||
Ticker: SCHW Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Cash and cash equivalents | $ 11,978 | 11,363 |
| Cash and investments segregated and on deposit for regulatory purposes (including resale agreements of $8,088 and $10,186 at December 31, 2015 and 2014, respectively) | 19,598 | 20,781 |
| Receivables from brokers, dealers, and clearing organizations | 582 | 469 |
| Receivables from brokerage clients net | 17,313 | 15,669 |
| Other securities owned at fair value | 533 | 516 |
| Securities available for sale | 65,646 | 54,783 |
| Securities held to maturity (fair value $50,088 and $34,743 at December 31, 2015 and 2014, respectively) | 50,007 | 34,389 |
| Bank loans net | 14,334 | 13,399 |
| Equipment, office facilities, and property net | 1,145 | 1,039 |
| Goodwill | 1,227 | 1,227 |
| Intangible assets net | 181 | 227 |
| Other assets | 1,174 | 780 |
| Total assets | 183,718 | 154,642 |
| Liabilities and Stockholders' Equity | ||
| Bank deposits | 129,502 | 102,815 |
| Payables to brokers, dealers, and clearing organizations | 2,588 | 2,004 |
| Payables to brokerage clients | 33,185 | 34,305 |
| Accrued expenses and other liabilities | 2,151 | 1,816 |
| Long-term debt | 2,890 | 1,899 |
| Total liabilities | 170,316 | 142,839 |
| Stockholders' equity: | ||
| Preferred stock $.01 par value per share; aggregate liquidation preference of $1,485 and $885 at December 31, 2015 and 2014, respectively | 1,459 | 872 |
| Common stock 3 billion shares authorized; $.01 par value per share; 1,487,543,446 shares issued | 15 | 15 |
| Additional paid-in capital | 4,152 | 4,050 |
| Retained earnings | 11,253 | 10,198 |
| Treasury stock, at cost 167,205,881 shares and 176,821,202 shares at December 31, 2015 and 2014, respectively | (3,343) | (3,497) |
| Accumulated other comprehensive income | (134) | 165 |
| Total stockholders' equity | 13,402 | 11,803 |
| Total liabilities and stockholders' equity | 183,718 | 154,642 |
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2015 | |
| 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 |