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: 2011 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Net Revenues | |||
| Asset management and administration fees | $ 1,928 | 1,822 | 1,875 |
| Interest revenue | 1,900 | 1,723 | 1,428 |
| Interest expense | (175) | (199) | (183) |
| Net interest revenue | 1,725 | 1,524 | 1,245 |
| Trading revenue | 927 | 830 | 996 |
| Other | 160 | 135 | 175 |
| Provision for loan losses | (18) | (27) | (38) |
| Net impairment losses on securities | (31) [1] | (36) | (60) |
| Total net revenues | 4,691 | 4,248 | 4,193 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 1,732 | 1,573 | 1,544 |
| Professional services | 387 | 341 | 275 |
| Occupancy and equipment | 301 | 272 | 318 |
| Advertising and market development | 228 | 196 | 191 |
| Communications | 220 | 207 | 206 |
| Depreciation and amortization | 155 | 146 | 159 |
| Class action litigation and regulatory reserve | 7 | 320 | |
| Money market mutual fund charges | 132 | ||
| Other | 269 | 282 | 224 |
| Total expenses excluding interest | 3,299 [2] | 3,469 | 2,917 |
| Income before taxes on income | 1,392 | 779 | 1,276 |
| Taxes on income | (528) | (325) | (489) |
| Net Income | 864 | 454 | 787 |
| Weighted-Average Common Shares Outstanding - Diluted | 1,229 [3] | 1,194 | 1,160 |
| Earnings Per Share - Basic | 0.70 | 0.38 | 0.68 |
| Earnings Per Share - Diluted | 0.70 | 0.38 | 0.68 |
| [1] Net impairment losses on securities include total other-than-temporary impairment losses of $18 million, $41 million, and $278 million, net of $(13) million, $5 million, and $218 million recognized in other comprehensive income in 2011, 2010, and 2009, 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] Antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS were 63 million, 52 million, and 53 million shares in 2011, 2010, and 2009, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2011 | |
| 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 |