Charles Schwab 2015 Annual Report Download - page 75

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THE CHARLES SCHWAB CORPORATION
- 55 -
Consolidated Statements of Income
(In Millions, Except Per Share Amounts)
Year Ended December 31, 2015 2014 2013
Net Revenues
Asset management and administration fees $ 2,650 $ 2,533 $ 2,315
Interest revenue 2,657 2,374 2,085
Interest expense (132) (102) (105)
Net interest revenue 2,525 2,272 1,980
Trading revenue 866 907 913
Other 328 343 236
Provision for loan losses 11 4 1
Net impairment losses on securities - (1) (10)
Total net revenues 6,380 6,058 5,435
Expenses Excluding Interest
Compensation and benefits 2,241 2,184 2,027
Professional services 459 457 415
Occupancy and equipment 353 324 309
Advertising and market development 249 245 257
Communications 233 223 220
Depreciation and amortization 224 199 202
Other 342 311 300
Total expenses excluding interest 4,101 3,943 3,730
Income before taxes on income 2,279 2,115 1,705
Taxes on income 832 794 634
Net Income 1,447 1,321 1,071
Preferred stock dividends and other (1) 83 60 61
Net Income Available to Common Stockholders $ 1,364 $ 1,261 $ 1,010
Weighted-Average Common Shares Outstanding:
Basic 1,315 1,303 1,285
Diluted 1,327 1,315 1,293
Earnings Per Common Share:
Basic $ 1.04 $ .96 $ .78
Diluted $ 1.03 $ .95 $ .78
Dividends Declared Per Common Share $ .24 $ .24 $ .24
(1) Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock
units.
See Notes to Consolidated Financial Statements.