Charles Schwab 2015 Annual Report Download - page 112

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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)
- 92 -
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, 2014 10 $ 20.66
Granted 3 30.84
Vested (4) 17.95
Forfeited (1) 21.25
Outstanding at December 31, 2015 8 $ 25.84
Retirement Plan
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 $78 million, $68 million, and $63 million in 2015, 2014, and 2013,
respectively.
Deferred Compensation Plans
The Company’s deferred compensation plan for officers permits participants to defer the receipt of certain cash
compensation. 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. The deferred compensation liability was $129 million and $132 million at December 31, 2015 and 2014,
respectively.
21. Taxes on Income
The components of income tax expense are as follows:
Year Ended December 31, 2015 2014 2013
Current:
Federal $ 740 $ 747 $ 598
State 99 72 57
Total current 839 819 655
Deferred:
Federal (6) (23) (20)
State (1) (2) (1)
Total deferred (7) (25) (21)
Taxes on income $ 832 $ 794 $ 634