Charles Schwab 2014 Annual Report Download - page 99

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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, 2013 Amount (Level 1) (Level 2) (Level 3) Fair Value
Assets:
Cash and cash equivalents $ 6,565 $ - $ 6,565 $ - $ 6,565
Cash and investments segregated and
on deposit for regulatory purposes 18,273 - 18,273 - 18,273
Receivables from brokers, dealers, and
clearing organizations 509 - 509 - 509
Receivables from brokerage clients – net 13,949 - 13,949 - 13,949
Securities held to maturity:
U.S. agency mortgage-backed securities 29,260 - 28,500 - 28,500
Non-agency commercial mortgage-backed
securities 958 - 890 - 890
Other securities 100 - 100 - 100
Total securities held to maturity 30,318 - 29,490 - 29,490
Loans to banking clients: (1)
Residential real estate mortgages 8,006 - 7,930 - 7,930
Home equity loans and lines of credit 3,041 - 3,043 - 3,043
Personal loans secured by securities 1,384 - 1,384 - 1,384
Other 36 - 35 - 35
Total loans to banking clients 12,467 - 12,392 - 12,392
Other assets 64 - 64 - 64
Total $ 82,145 $ - $ 81,242 $ - $ 81,242
Liabilities:
Deposits from banking clients $ 92,972 $ - $ 92,972 $ - $ 92,972
Payables to brokers, dealers, and clearing
organizations 1,467 - 1,467 - 1,467
Payables to brokerage clients 35,333 - 35,333 - 35,333
Accrued expenses and other liabilities 680 - 680 - 680
Long-term debt 1,903 - 1,989 - 1,989
Total $ 132,355 $ - $ 132,441 $ - $ 132,441
(1) The carrying value of loans to banking clients excludes the allowance for loan losses of $48 million at December 31,
2013.
17. Stockholders’ Equity
The Company did not issue any shares of common stock during 2014, 2013, or 2012, respectively.
The Company was authorized to issue 9,940,000 shares of preferred stock, $0.01 par value, at December 31, 2014 and 2013.
The Company’s preferred stock issued and outstanding is as follows:
December 31, 2014 2013
Shares Shares
Issued and Liquidation Issued and Liquidatio
n
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 $ 395
Series B 485 $ 1,000 485 477 485 $ 1,000 485 474
Total Preferred Stock 885 $ 885 $ 872 885 $ 885 $ 869