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: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net Revenues | |||
| Interest revenue | $ 6,531 | 7,580 | 6,680 |
| Interest expense | (418) | (1,064) | (857) |
| Net interest revenue | 6,113 | 6,516 | 5,823 |
| Other | 332 | 242 | 178 |
| Total net revenues | 11,691 | 10,721 | 10,132 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 3,954 | 3,320 | 3,057 |
| Professional services | 843 | 702 | 654 |
| Occupancy and equipment | 703 | 559 | 496 |
| Advertising and market development | 326 | 307 | 313 |
| Communications | 353 | 253 | 242 |
| Depreciation and amortization | 414 | 322 | 277 |
| Amortization of acquired intangible assets | 190 | 27 | 29 |
| Regulatory fees and assessments | 163 | 122 | 189 |
| Other | 445 | 261 | 313 |
| Total expenses excluding interest | 7,391 | 5,873 | 5,570 |
| Income before taxes on income | 4,300 | 4,848 | 4,562 |
| Taxes on income | 1,001 | 1,144 | 1,055 |
| Net Income | 3,299 | 3,704 | 3,507 |
| Preferred stock dividends and other | 256 [1] | 178 | 178 |
| Net Income Available to Common Stockholders | 3,043 | 3,526 | 3,329 |
| Weighted-Average Common Shares Outstanding: | |||
| Basic (in shares) | 1,429 | 1,311 | 1,348 |
| Diluted (in shares) | 1,435 | 1,320 | 1,361 |
| Earnings Per Share, Basic and Diluted [Abstract] | |||
| Basic (USD per share) | 2.13 [2] | 2.69 | 2.47 |
| Diluted (USD per share) | 2.12 | 2.67 | 2.45 |
| Product and Service | |||
| Asset Management and administration fees | |||
| Revenues from contracts with customers | 3,475 | 3,211 | 3,229 |
| Trading revenue | |||
| Revenues from contracts with customers | 1,416 | 752 | 902 |
| Bank Deposit Account Fees | |||
| Revenues from contracts with customers | 355 | 0 | 0 |
| Fee Waivers | |||
| Revenues from contracts with customers | 127 | ||
| [1] Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units. | |||
| [2] For the year ended December 31, 2020, the Company had voting and nonvoting common stock outstanding. As the participation rights, including dividend and liquidation rights, are identical between the voting and nonvoting stock classes, basic and diluted earnings per share are the same for each class. See Notes 19 and 25 for additional information. | |||
| External Links | |
| SCHWAB CHARLES CORP (SCHW) Fiscal Year 2020 | |
| 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 |