The Charles Schwab Corporation - Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2014


Year Ended December 31,		2014		2013		2012
Interest revenue	$	2	$	4	$	6
Interest expense		(64)		(65)		(97)
Net interest revenue		(62)		(61)		(91)
Other revenue – net		1		-		(30)
Expenses excluding interest		(24)		(28)		(23)
Loss before income tax benefit and equity in net income of subsidiaries		(85)		(89)		(144)
Income tax benefit		32		38		58
Loss before equity in net income of subsidiaries		(53)		(51)		(86)
Equity in net income of subsidiaries:
Equity in undistributed net income of subsidiaries		1,157		830		662
Dividends from bank subsidiary		45		163		50
Dividends from non-bank subsidiaries		172		129		302
Net Income		1,321		1,071		928
Preferred stock dividends		60		61		45
Net Income Available to Common Stockholders	$	1,261	$	1,010	$	883


December 31,		2014		2013
Assets
Cash and cash equivalents	$	1,043	$	700
Receivables from subsidiaries		360		162
Other securities owned – at fair value		74		80
Loans to non-bank subsidiaries		327		980
Investment in non-bank subsidiaries		4,083		3,828
Investment in bank subsidiary		7,883		6,576
Other assets		68		65
Total assets	$	13,838	$	12,391
Liabilities and Stockholders’ Equity
Accrued expenses and other liabilities	$	185	$	187
Payables to subsidiaries		34		9
Long-term debt		1,816		1,814
Total liabilities		2,035		2,010
Stockholders’ equity		11,803		10,381
Total liabilities and stockholders’ equity	$	13,838	$	12,391


Year Ended December 31,		2014		2013		2012
Cash Flows from Operating Activities
Net income	$	1,321	$	1,071	$	928
Adjustments to reconcile net income to net cash provided by
operating activities:
Equity in undistributed earnings of subsidiaries		(1,157)		(830)		(662)
Provision for deferred income taxes		4		(11)		9
Other		(23)		(4)		39
Net change in:
Other securities owned		5		(5)		3
Other assets		(9)		29		(21)
Accrued expenses and other liabilities		(1)		13		(5)
Net cash provided by operating activities		140		263		291
Cash Flows from Investing Activities
Due from (Due to) subsidiaries – net		607		(546)		43
Increase in investments in subsidiaries		(249)		(225)		(307)
Other investing activities		-		(1)		-
Net cash provided by (used for) investing activities		358		(772)		(264)
Cash Flows from Financing Activities
Issuance of commercial paper		-		-		300
Repayment of commercial paper		-		(300)		-
Issuance of long-term debt		-		275		350
Repayment of long-term debt		-		-		(727)
Premium paid on debt exchange		-		-		(19)
Net proceeds from preferred stock offering		-		-		863
Dividends paid		(373)		(368)		(337)
Proceeds from stock options exercised and other		189		258		35
Other financing activities		29		5		(5)
Net cash (used for) provided by financing activities		(155)		(130)		460
Increase (Decrease) in Cash and Cash Equivalents		343		(639)		487
Cash and Cash Equivalents at Beginning of Year		700		1,339		852
Cash and Cash Equivalents at End of Year	$	1,043	$	700	$	1,339