Charles Schwab 2013 Annual Report Download - page 96

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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)
- 85 -
The Company’s restricted stock units activity is summarized below:
Weighted-
Average Grant
Number Date Fair Value
of Units per Unit
Outstanding at December 31, 2012 11 $ 13.34
Granted 4 $ 21.32
Vested (3) $ 22.44
Forfeited (1) $ 14.17
Outstanding at December 31, 2013 11 $ 16.11
Retirement Plan
Upon completing three months of consecutive service, employees of the Company can participate in the Company’s qualified
retirement plan, the SchwabPlan® Retirement Savings and Investment Plan. The Company may match certain employee
contributions or make additional contributions to this plan at its discretion. The Company’s total expense was $63 million,
$59 million, and $53 million in 2013, 2012, and 2011, respectively.
Deferred Compensation Plans
The Company’s deferred compensation plan for officers permits participants to defer the receipt of certain cash
compensation. The deferred compensation liability was $135 million and $127 million at December 31, 2013 and 2012,
respectively. The Company’s deferred compensation plan for non-employee directors permits participants to defer receipt of
all or a portion of their director fees and to receive either a grant of stock options, or upon ceasing to serve as a director, the
number of shares of CSC’s common stock that would have resulted from investing the deferred fee amount into CSC’s
common stock.
20. Taxes on Income
The components of income tax expense are as follows:
Year Ended December 31, 2013 2012 2011
Current:
Federal $ 598 $ 489 $ 424
State 57 28 52
Total current 655 517 476
Deferred:
Federal (20) 5 44
State (1) - 8
Total deferred (21) 5 52
Taxes on income $ 634 $ 522 $ 528