Charles Schwab 2013 Annual Report Download - page 92

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THE CHARLES SCHWAB CORPORATION
Notes to Consolidated Financial Statements
(Tabular Amounts in Millions, Except Per Share Data, Option Price Amounts, Ratios, or as Noted)
- 81 -
Quoted Prices
in Active Markets Significant Significant
for Identical Other Observable Unobservable
Carrying Assets Inputs Inputs Balance at
December 31, 2012 Amount (Level 1) (Level 2) (Level 3) Fair Value
Assets:
Cash and cash equivalents $ 11,174 $ - $ 11,174 $ - $ 11,174
Cash and investments segregated and
   

on deposit for regulatory purposes 23,723 - 23,723 - 23,723
Receivables from brokers, dealers, and
   

clearing organizations 333 - 333 - 333
Receivables from brokerage clients – net 13,453 - 13,453 - 13,453
Securities held to maturity:
U.S. agency mortgage-backed securities 17,750 - 18,289 - 18,289
Other securities 444 - 443 - 443
Total securities held to maturity 18,194 - 18,732 - 18,732
Loans to banking clients – net:
Residential real estate mortgages 6,471 - 6,687 - 6,687
Home equity lines of credit 3,267 - 3,295 - 3,295
Personal loans secured by securities 963 - 963 - 963
Other 25 - 24 - 24
Total loans to banking clients – net 10,726 - 10,969 - 10,969
Other assets 64 - 64 - 64
Total $ 77,667 $ - $ 78,448 $ - $ 78,448
Liabilities:
Deposits from banking clients $ 79,377 $ - $ 79,377 $ - $ 79,377
Payables to brokers, dealers, and clearing
   
 
organizations 1,068 - 1,068 - 1,068
Payables to brokerage clients 40,330 - 40,330 - 40,330
Accrued expenses and other liabilities 353 - 353 - 353
Long-term debt 1,632 - 1,782 - 1,782
Total $ 122,760 $ - $ 122,910 $ - $ 122,910
17. Stockholders’ Equity
The Company did not issue any shares of common stock during 2013, 2012, or 2011, respectively.
The Company was authorized to issue 9,940,000 shares of preferred stock, $0.01 par value, at December 31, 2013 and 2012.
The Company’s preferred stock issued and outstanding is as follows:
December 31, 2013 2012
Shares Shares
Issued and Liquidation Issued and Liquidation
Outstanding Preference Liquidation Carrying Outstanding Preference Liquidation Carrying
(In thousands) Per Share Preference Value (In thousands) Per Share Preference Value
Series A 400 $ 1,000 $ 400 $ 395 400 $ 1,000 $ 400 $ 394
Series B 485 $ 1,000 485 474 485 $ 1,000 485 471
Total Preferred Stock 885 $ 885 $ 869 885 $ 885 $ 865
In January 2012, the Company issued and sold 400,000 shares of fixed-to-floating rate non-cumulative perpetual preferred
stock, Series A (Series A Preferred Stock). Net proceeds received from the sale were $394 million. The Series A Preferred
Stock has no stated maturity and has a fixed dividend rate of 7.000% until February 2022 and a floating rate equal to three-
month LIBOR plus 4.820% thereafter. During the fixed rate period, dividends, if declared, will be payable semi-annually in
arrears. During the floating rate period, dividends, if declared, will be payable quarterly in arrears. Dividends are not