One of the best measures of a company is what it achieves when faced with uncertainty, and TD Ameritrade delivered another record year. With a strong balance sheet, a solid capital base, good liquidity and healthy cash flows, TD Ameritrade has the strategy and the resources to come out of this economic cycle even stronger than it is today.

¹ Earnings per share excluding investment gains/losses is a non-GAAP financial
measure. See reconciliation to GAAP EPS on page 84.
² EBITDA excluding investment gains/losses is a non-GAAP financial measure.
See reconciliation to GAAP pre-tax income on page 84.
³ Return on average stockholders’ equity excluding investment gains/losses
is a non-GAAP financial measure. See reconciliation to GAAP ROE on page 84.