8-K/AExhibits & Filings

SCHWAB CHARLES CORP 8-K/A Report, Exhibit Filing (Dec 4, 2020)

Filed December 4, 2020For Securities:SCHWSCHW-PDSCHW-PJ

Summary

This 8-K/A filing from Charles Schwab Corporation (SCHW) provides crucial financial information related to its acquisition of TD Ameritrade. Specifically, it includes the audited financial statements of TD Ameritrade for the fiscal year ended September 30, 2020, along with the auditor's report. This disclosure is a key step in providing investors with the necessary data to understand the financial health and performance of the acquired entity. Furthermore, the filing presents unaudited pro forma condensed combined financial statements. These statements give effect to the merger between Charles Schwab and TD Ameritrade, offering investors a forward-looking view of the combined company's financial position as of September 30, 2020, and its income statements for the fiscal year 2019 and the nine months ended September 30, 2020. This pro forma information is essential for assessing the potential impact and synergies of the merger.

Key Highlights

  • 1Filed audited financial statements of TD Ameritrade for the fiscal year ended September 30, 2020.
  • 2Included the Report of Independent Auditors for TD Ameritrade's fiscal year 2020 financial statements.
  • 3Submitted unaudited pro forma condensed combined balance sheet for The Charles Schwab Corporation as of September 30, 2020.
  • 4Presented unaudited pro forma condensed combined statements of income for the fiscal year ended December 31, 2019.
  • 5Included unaudited pro forma condensed combined statements of income for the nine months ended September 30, 2020.
  • 6These pro forma statements reflect the impact of the merger with TD Ameritrade.
  • 7The filing also includes a consent from Ernst & Young LLP.

Frequently Asked Questions

The primary purpose of this 8-K/A filing is to provide investors with the audited financial statements of TD Ameritrade for the fiscal year ended September 30, 2020, and unaudited pro forma combined financial statements of Charles Schwab Corporation, reflecting the impact of the merger with TD Ameritrade.

The filing includes the audited financial statements of TD Ameritrade Holding Corporation as of and for the fiscal year ended September 30, 2020, along with the corresponding Report of Independent Auditors.

The unaudited pro forma condensed combined financial statements show the combined financial position and performance of Charles Schwab Corporation as if the merger with TD Ameritrade had already occurred. This includes a balance sheet as of September 30, 2020, and income statements for the fiscal year 2019 and the nine months ended September 30, 2020.

This filing contains audited financials for TD Ameritrade and pro forma combined financials. Final consolidated financials for the combined entity will be presented in future filings once the merger is fully integrated and reported.