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: 2013 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 24, 2014) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net Revenues: | |||
| Asset management and administration fees | $ 2,315 | 2,043 | 1,928 |
| Interest revenue | 2,085 | 1,914 | 1,900 |
| Interest expense | (105) | (150) | (175) |
| Net interest revenue | 1,980 | 1,764 | 1,725 |
| Trading revenue | 913 | 868 | 927 |
| Other net | 236 | 256 | 160 [1] |
| Provision for loan losses | 1 | (16) | (18) |
| Net impairment losses on securities | (10) | (32) | (31) [2] |
| Total net revenues | 5,435 | 4,883 | 4,691 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 2,027 | 1,803 | 1,732 |
| Professional services | 415 | 388 | 387 |
| Occupancy and equipment | 309 | 311 | 301 |
| Advertising and market development | 257 | 241 | 228 |
| Communications | 220 | 220 | 220 |
| Depreciation and amortization | 202 | 196 | 155 |
| Class action litigation and regulatory reserve | 7 | ||
| Other | 300 | 274 | 269 |
| Total expenses excluding interest | 3,730 | 3,433 | 3,299 |
| Income before taxes on income | 1,705 | 1,450 | 1,392 |
| Taxes on income | 634 | 522 | 528 |
| Net Income | 1,071 | 928 | 864 |
| Preferred stock dividends | 61 | 45 | |
| Net Income Available to Common Stockholders | 1,010 | 883 | 864 |
| Weighted-Average Common Shares Outstanding - Diluted | 1,293 | 1,275 | 1,229 [3] |
| Earnings Per Common Share - Basic | 0.78 | 0.69 | 0.70 |
| Earnings Per Common Share - Diluted | 0.78 | 0.69 | 0.70 |
| Dividends Declared Per Common Share | 0.24 | 0.24 | 0.24 |
| [1] Unallocated amount includes a non-recurring gain of $70 million relating to a confidential resolution of a vendor dispute in 2012. | |||
| [2] Net impairment losses on securities include total other-than-temporary impairment losses of $2 million, $15 million, and $18 million recognized in other comprehensive (loss) income, net of $(8) million, $(17) million, and $(13) million reclassified from other comprehensive (loss) income in 2013, 2012, and 2011, respectively. | |||
| [3] Antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS totaled 34 million, 74 million, and 63 million shares in 2013, 2012, and 2011, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2013 | |
| 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 |