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: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Net Revenues | |||
| Asset management and administration fees | $ 1,822 | 1,875 | 2,355 |
| Interest revenue | 1,723 | 1,428 | 1,908 |
| Interest expense | (199) | (183) | (226) |
| Net interest revenue | 1,524 | 1,245 | 1,682 |
| Trading revenue | 830 | 996 | 1,080 |
| Other | 135 | 175 | 94 |
| Provision for loan losses | (27) | (38) | (17) |
| Net impairment losses on securities | (36) [1] | (60) | (44) |
| Total net revenues | 4,248 | 4,193 | 5,150 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 1,573 | 1,544 | 1,667 |
| Professional services | 341 | 275 | 334 |
| Occupancy and equipment | 272 | 318 | 299 |
| Advertising and market development | 196 | 191 | 243 |
| Communications | 207 | 206 | 211 |
| Depreciation and amortization | 146 | 159 | 152 |
| Class action litigation and regulatory reserve | 320 | ||
| Money market mutual fund charges | 132 | ||
| Other | 282 | 224 | 216 |
| Total expenses excluding interest | 3,469 [2] | 2,917 | 3,122 |
| Income from continuing operations before taxes on income | 779 | 1,276 | 2,028 |
| Taxes on income | (325) | (489) | (798) |
| Income from continuing operations | 454 | 787 | 1,230 |
| Loss from discontinued operations, net of tax | (18) | ||
| Net Income | 454 | 787 | 1,212 |
| Weighted-Average Common Shares Outstanding - Diluted | 1,194 [3] | 1,160 | 1,157 |
| Earnings Per Share - Basic | |||
| Income from continuing operations | 0.38 | 0.68 | 1.07 |
| Loss from discontinued operations, net of tax | (0.01) | ||
| Net income | 0.38 | 0.68 | 1.06 |
| Earnings Per Share - Diluted | |||
| Income from continuing operations | 0.38 | 0.68 | 1.06 |
| Loss from discontinued operations, net of tax | (0.01) | ||
| Net income | 0.38 | 0.68 | 1.05 |
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $41 million, $278 million, and $44 million, net of $5 million, $218 million, and $0 million recognized in other comprehensive income in 2010, 2009, and 2008, respectively. | |||
| [2] Unallocated amount primarily includes class action litigation and regulatory reserves of $320 million and money market mutual fund charges of $132 million in 2010, and facilities and severance charges relating to the Company's cost reduction measures in 2009. | |||
| [3] Total antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS were 52 million, 53 million, and 33 million shares for the years ended December 31, 2010, 2009, and 2008, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2010 | |
| 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 |