Charles Schwab 2015 Annual Report Download - page 40

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THE CHARLES SCHWAB CORPORATION
- 20 -
Item 6. Selected Financial Data
Selected Financial and Operating Data
(In Millions, Except Per Share Amounts, Ratios, or as Noted)
Growth Rates
Compounded Annual
4-Year
(1) 1-Year
2011-2015
2014-2015 2015 2014 2013
2012 2011
Results of Operations
Net revenues 8% 5% $ 6,380 $ 6,058 $ 5,435 $ 4,883 $ 4,691
Expenses excluding interest 6% 4% $ 4,101
$ 3,943 $ 3,730 $ 3,433 $ 3,299
Net income 14% 10% $ 1,447 $ 1,321 $ 1,071 $ 928 $ 864
Net income available to common stockholders 12% 8% $ 1,364
$ 1,261 $ 1,010 $ 883
$ 864
Earnings per common share:
Basic 10% 8% $ 1.04
$.96
$.78
$ .69
$.70
Diluted 10% 8% $ 1.03 $.95 $.78 $ .69 $.70
Dividends declared per common share - - $.24
$.24
$.24
$ .24
$.24
Weighted average common shares outstanding:
Basic 2% 1% 1,315 1,303 1,285 1,274
1,227
Diluted 2% 1% 1,327 1,315 1,293 1,275 1,229
Asset management and administration fees as a
percentage of net revenues 42% 42% 43% 42% 41%
Net interest revenue as a percentage of net revenues 40% 38% 36% 36% 37%
Trading revenue as a percentage of net revenues 14% 15% 17% 18% 20%
Effective income tax rate 36.5% 37.5% 37.2% 36.0% 37.9%
Performance Measures
Net revenue growth 5% 11% 11% 4% 10%
Pre-tax profit margin 35.7% 34.9% 31.4% 29.7% 29.7%
Return on average common stockholders’ equity 12% 12% 11% 11% 12%
Financial Condition (at year end)
Total assets 14% 19% $ 183,718 $ 154,642 $ 143,642 $ 133,617 $ 108,553
Long-term debt 10% 52% $ 2,890
$ 1,899 $ 1,903 $ 1,632 $ 2,001
Stockholders’ equity (2) 15% 14% $ 13,402 $ 11,803 $ 10,381 $ 9,589 $ 7,714
Assets to stockholders’ equity ratio 14 13 14 14 14
Debt to total capital ratio 18% 14% 15% 15% 21%
Employee Information
Full-time equivalent employees (in thousands,
at year end) 2% 5% 15.3 14.6 13.8 13.8 14.1
(1) The compounded 4-year growth rate is computed using the following formula: Compound annual growth rate = (Ending Value / Beginning Value) .25 - 1.
(2) In 2012, the Company issued non-cumulative perpetual preferred stock, Series A, with a total liquidation preference of $400 million and non-cumulative perpetual preferred
stock, Series B, for a total liquidation preference of $485 million. In 2015, the Company issued non-cumulative perpetual preferred stock, Series C, with a total liquidation
preference of $600 million.