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: 2014 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 23, 2015) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net Revenues | |||
| Asset management and administration fees | $ 2,533 | 2,315 | 2,043 |
| Interest revenue | 2,374 | 2,085 | 1,914 |
| Interest expense | (102) | (105) | (150) |
| Net interest revenue | 2,272 | 1,980 | 1,764 |
| Trading revenue | 907 | 913 | 868 |
| Other net | 343 | 236 | 256 [1] |
| Provision for loan losses | 4 | 1 | (16) |
| Net impairment losses on securities | (1) | (10) | (32) [2] |
| Total net revenues | 6,058 | 5,435 | 4,883 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 2,184 | 2,027 | 1,803 |
| Professional services | 457 | 415 | 388 |
| Occupancy and equipment | 324 | 309 | 311 |
| Advertising and market development | 245 | 257 | 241 |
| Communications | 223 | 220 | 220 |
| Depreciation and amortization | 199 | 202 | 196 |
| Other | 311 | 300 | 274 |
| Total expenses excluding interest | 3,943 | 3,730 | 3,433 [3] |
| Income before taxes on income | 2,115 | 1,705 | 1,450 |
| Taxes on income | 794 | 634 | 522 |
| Net Income | 1,321 | 1,071 | 928 |
| Preferred stock dividends | 60 | 61 | 45 |
| Net Income Available to Common Stockholders | 1,261 | 1,010 | 883 |
| Weighted-Average Common Shares Outstanding - Diluted | 1,315 | 1,293 | 1,275 [4] |
| Earnings Per Common Share - Basic | 0.96 | 0.78 | 0.69 |
| Earnings Per Common Share - Diluted | 0.95 | 0.78 | 0.69 |
| Dividends Declared Per Common Share | 0.24 | 0.24 | 0.24 |
| [1] Unallocated amount includes a net insurance settlement of $45 million in 2014 and 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 $1 million, $2 million, and $15 million recognized in other comprehensive income, net of less than $1 million, $(8) million, and $(17) million reclassified from other comprehensive income in 2014, 2013, and 2012, respectively. | |||
| [3] Unallocated amount includes a charge of $68 million for estimated future severance benefits resulting from changes in the Companys geographic footprint in 2014. | |||
| [4] Antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS totaled 24 million, 34 million, and 74 million shares in 2014, 2013, and 2012, respectively. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2014 | |
| 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 |