e11vk
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2010
OR
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the Transition Period from ________ to _________
Commission File Number 0-49992
A. |
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Full title of the plan and the address of the plan, if different from that of the issuer named
below: |
TD AMERITRADE HOLDING CORPORATION ASSOCIATES
401(k) PROFIT SHARING PLAN AND TRUST
B. |
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Name of issuer of the securities held pursuant to the plan and the address of its principal
executive office: |
TD AMERITRADE HOLDING CORPORATION
4211 SOUTH 102nd STREET
OMAHA, NE 68127-1031
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Financial Statements and Supplemental Schedule
Years Ended December 31, 2010 and 2009
Contents
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Report of Independent Registered Public Accounting Firm |
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1 |
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Financial Statements |
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Statements of Net Assets Available for Benefits |
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2 |
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Statements of Changes in Net Assets Available for Benefits |
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3 |
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Notes to Financial Statements |
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4 |
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Supplemental Schedule |
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Form 5500, Schedule H, Part IV, Line 4(i) Schedule of Assets (Held at End of Year) |
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14 |
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Report of Independent Registered Public Accounting Firm
The Board of Directors of
TD Ameritrade Holding Corporation
We have audited the accompanying statements of net assets available for benefits of TD Ameritrade
Holding Corporation Associates 401(k) Profit Sharing Plan and Trust as of December 31, 2010 and
2009, and the related statements of changes in net assets available for benefits for the years then
ended. These financial statements are the responsibility of the Plans management. Our
responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. We
were not engaged to perform an audit of the Plans internal control over financial reporting. Our
audits included consideration of internal control over financial reporting as a basis for designing
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Plans internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the net assets available for benefits of the Plan at December 31, 2010 and 2009, and the
changes in its net assets available for benefits for the years then ended, in conformity with U.S.
generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken
as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December
31, 2010, is presented for purposes of additional analysis and is not a required part of the
financial statements but is supplementary information required by the Department of Labors Rules
and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This supplemental schedule is the responsibility of the Plans management. The supplemental
schedule has been subjected to the auditing procedures applied in our audits of the financial
statements and, in our opinion, is fairly stated in all material respects in relation to the
financial statements taken as a whole.
/s/ ERNST & YOUNG LLP
Chicago, Illinois
June 27, 2011
1
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Statements of Net Assets Available for Benefits
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December 31, |
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2010 |
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2009 |
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Assets |
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Cash |
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$ |
34,217 |
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$ |
229,699 |
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Investments, at fair value (Notes 3, 4 and 5) |
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375,368,465 |
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296,256,258 |
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Receivables: |
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Employer contributions |
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18,289,850 |
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12,616,999 |
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Notes receivable from participants |
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9,692,228 |
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6,780,124 |
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Due from brokers |
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508,244 |
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245,209 |
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Total receivables |
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28,490,322 |
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19,642,332 |
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Total assets |
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403,893,004 |
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316,128,289 |
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Liabilities |
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Due to brokers |
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592,227 |
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605,506 |
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Total liabilities |
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592,227 |
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605,506 |
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Net assets available for benefits |
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$ |
403,300,777 |
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$ |
315,522,783 |
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The accompanying notes are an integral part of the financial
statements.
2
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Statements of Changes in Net Assets Available for Benefits
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For the Years Ended |
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December 31, |
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2010 |
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2009 |
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Additions to net assets attributed to: |
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Investment income: |
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Net appreciation in fair value of
investments (Note 3) |
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$ |
34,170,866 |
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$ |
67,768,537 |
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Dividend income |
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3,973,882 |
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3,857,368 |
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Interest income |
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14,935 |
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8,318 |
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Net investment income |
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38,159,683 |
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71,634,223 |
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Interest income on notes receivable from
participants |
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403,177 |
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354,499 |
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Contributions: |
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Employer |
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28,004,698 |
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20,252,004 |
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Participants |
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32,032,318 |
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24,238,533 |
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Total contributions |
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60,037,016 |
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44,490,537 |
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Transfer from acquired company plan (Note 1) |
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14,845,471 |
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Total additions |
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113,445,347 |
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116,479,259 |
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Deductions from net assets attributed to: |
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Distributions to plan participants |
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25,233,138 |
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20,375,564 |
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Administrative expenses (Notes 2 and 5) |
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434,215 |
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444,870 |
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Total deductions |
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25,667,353 |
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20,820,434 |
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Net increase |
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87,777,994 |
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95,658,825 |
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Net assets available for benefits: |
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Beginning of year |
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315,522,783 |
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219,863,958 |
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End of year |
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$ |
403,300,777 |
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$ |
315,522,783 |
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The accompanying notes are an integral part of the financial
statements.
3
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements
December 31, 2010 and 2009
1. Description of Plan
The following description of the TD Ameritrade Holding Corporation Associates 401(k) Profit Sharing
Plan and Trust (the Plan) provides only general information about the Plans provisions.
Participants should refer to the Plan Document for a more complete description of the Plans
provisions.
General The Plan is a defined contribution profit sharing and 401(k) plan sponsored by TD
Ameritrade Online Holdings Corp. (TDAOH). The Plan covers employees of TD Ameritrade Holding
Corporation (the Parent) and its participating affiliated companies (collectively, the Company) who
meet eligibility requirements. The Parent is the plan administrator. The Plan covers employees who
are 21 years old or older. The Plan is subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA), as amended.
On June 11, 2009, the Parent acquired thinkorswim Group Inc. On August 11, 2009, the Plan
Committee approved the merger of the thinkorswim Group Inc. 401(k) Plan into the Plan. During
2010, assets held in the thinkorswim Group Inc. 401(k) Plan with a fair value of $14,845,471 were
transferred into the Plan. This transfer is reflected on the Statements of Changes in Net Assets
Available for Benefits as Transfer from acquired company plan.
Contributions Participants may contribute up to 75% of their compensation on a salary deferral
basis, subject to limitations specified in the Internal Revenue Code (the Code). During an
enrollment process, employees of the Company select their salary deferral percentage or they may
elect not to participate in the Plan. Employees of the Company who do not complete the enrollment
process with the Plans recordkeeper are subject to a default election in an amount equal to 3% of
such employees compensation. Participants direct the investment of all contributions into various
options offered by the Plan. In addition, participants may transfer fund balances between the
various fund options, including Company common stock and self-directed brokerage accounts. In the
event a participant does not direct the investment of their account, the trustee has been directed
by the Plan to invest the participants contributions into the lifecycle fund that best
approximates when the participant would reach age 65. The Company contributes to the Plan as a
matching contribution 50% of the participants contributions to the Plan that do not exceed 6% of
the participants compensation. The Company may also make discretionary contributions to the Plan.
Highly compensated employees who are participants in the TD Ameritrade Holding Corporation
Management Incentive Plan, or its successor plan or plans, shall not be eligible to receive Company
matching or discretionary contributions.
4
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
Participant Accounts Individual accounts are maintained for each participant. Each
participant account is credited with the participant contributions, the Company matching
contribution, the Company discretionary contribution (if any), an allocation of forfeitures (if
applicable) and an allocation of the Plans earnings or losses, and charged with an allocation of
administrative expenses, provided however, that forfeitures are first used to pay administrative
expenses and any excess expenses are then charged to participant accounts. The benefit to which a
participant is entitled is the benefit that can be provided from the participants vested account.
Vesting Company contributions and earnings or losses thereon vest 20% after the first year of
continuous service and vest an additional 20% each year, with 100% vesting occurring for all
participants after five years of service. Participants become fully vested upon the participants
normal retirement date, death or disability, provided that the participant is employed by the
Company at such time. Participants immediately vest in their contributions plus actual earnings or
losses thereon.
Participant Loans Participants may borrow from their Plan accounts up to the lesser of 50% of
their vested account balance or $50,000. The loans are secured by the balance in the participants
account and bear interest at the prime rate plus 1%, determined as of the date of the loan.
Principal and interest is paid ratably through payroll deductions over a period not to exceed five
years except for loans used to acquire a principal residence, for which the repayment period may
exceed five years.
Payment of Benefits On termination of service, a participant may elect to receive either a
lump-sum payment or installment payments.
Forfeited Accounts Forfeitures are first used to reinstate prior forfeitures for former
employees who return to employment with the Company, then to pay the Plans administrative expenses
and lastly to supplement the Companys contributions. In addition to the Company contributions,
forfeitures of $300,000 and $258,583 were allocated to participant accounts for the years ended
December 31, 2010 and 2009, respectively. As of December 31, 2010 and 2009, unallocated forfeitures
of $874,454 and $670,287, respectively, were included in investments and were available to pay Plan
administrative expenses and supplement Company contributions in the subsequent year. In addition,
as of December 31, 2010, unallocated forfeitures of $2,134,379 were included in investments and may
be available to pay Plan administrative expenses and supplement Company contributions in future years, if not
previously used to reinstate prior forfeitures for former employees who have returned to employment
with the Company.
5
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
Plan Termination Although it has not expressed any intent to do so, the Company has the
right under the Plan to discontinue its contributions at any time and to terminate the Plan subject
to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested
in their accounts.
2. Summary of Significant Accounting Policies
Basis of Accounting The accompanying financial statements have been prepared on the accrual
basis of accounting in accordance with U.S. generally accepted accounting principles (GAAP).
Reclassifications As of December 31, 2009, $6,780,124 has been reclassified from investments to
notes receivable from participants on the statements of net assets available for benefits. For the
year ended December 31, 2009, $354,499 has been reclassified from interest income to interest
income on notes receivable from participants on the statements of changes in net assets available
for benefits. Each of these reclassifications was made in order to conform to the current year
financial statement presentation as the result of a recently adopted accounting pronouncement.
Use of Estimates The preparation of financial statements in conformity with GAAP requires
management to make estimates and assumptions that affect the reported amounts of net assets
available for benefits and changes therein. Actual results could differ from those estimates.
Risks and Uncertainties The Plan utilizes various investment instruments. Investment securities,
in general, are exposed to various risks, such as interest rate, credit, and market risks. Due to
the level of risk associated with certain investment securities, it is reasonably possible that
changes in the values of investment securities will occur in the near term and that such changes
could materially affect participant account balances and the amounts reported in the financial
statements.
Notes Receivable from Participants Notes receivable from participants represent participant
loans that are recorded at their unpaid principal balance plus any accrued but unpaid interest.
Interest income on notes receivable from participants is recorded when it is earned. Related fees
are recorded as administrative expenses and are expensed when they are incurred. No allowance for
credit losses has been recorded as of December 31, 2010 or 2009. If a participant ceases to
6
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
make loan payments and the plan administrator deems the participant loan to be a distribution,
the participant loan balance is reduced and a benefit payment is recorded.
Income Recognition Security transactions are recorded as of the trade date. Dividends are
recorded on the ex-dividend date. Interest income is recorded on the accrual basis. Net
appreciation or depreciation in fair value of investments includes both realized and unrealized
gains and losses.
Administrative Expenses The Company pays certain administrative expenses for the Plan. Only
expenses paid by the Plan are reflected in the Plans financial statements.
Payment of Benefits Benefits are recorded when paid.
Recently Adopted Accounting Pronouncements In September 2010, the Financial Accounting Standards
Board (FASB) issued Accounting Standards Update (ASU) 2010-25, Reporting Loans to Participants by Defined Contribution Pension Plans. ASU 2010-25 requires participant loans to be
measured at their unpaid principal balance plus any accrued but unpaid interest and classified as
notes receivable from participants. Previously, loans were classified as investments. ASU 2010-25
is effective for fiscal years ended after December 15, 2010 and is required to be applied
retrospectively to all prior periods presented. Adoption of ASU 2010-25 did not change the value of
participant loans from the amount previously reported as of December 31, 2009. Participant loans
have been reclassified from investments to notes receivable from participants as of December 31,
2009.
In January 2010, the FASB issued ASU 2010-06, Fair Value Measurements and Disclosures. ASU 2010-06
requires new disclosures and clarifies existing disclosure requirements about fair value
measurements as set forth in Accounting Standards Codification (ASC) 820-10. ASU 2010-06 is
effective for periods beginning after December 15, 2009, except for the requirement to provide
Level 3 activity of purchases, sales, issuances, and settlements on a gross basis, which will be
effective for fiscal years beginning after December 15, 2010. Since ASU 2010-06 only affects fair
value measurement disclosures, adoption of ASU 2010-06 did not affect the Plans net assets
available for benefits or its changes in net assets available for benefits.
7
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
3. Investments
The following table presents individual investments that represent 5% or more of the Plans net
assets available for benefits.
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December 31, |
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2010 |
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2009 |
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Investments at fair value as determined by
quoted market price or quoted net asset value: |
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TD Ameritrade Holding Corporation
common stock |
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$ |
61,532,933 |
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$ |
63,463,653 |
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T. Rowe Price Mid Cap Growth Fund |
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37,543,882 |
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27,010,803 |
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Vanguard Reserve Prime Money Market
Institutional Fund |
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30,478,244 |
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23,677,389 |
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Lazard Emerging Markets Open Fund |
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26,343,509 |
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19,539,733 |
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T. Rowe Price Small Cap Value Fund |
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22,355,764 |
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16,108,123 |
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American Funds Growth Fund of America R5 |
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22,146,981 |
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17,678,860 |
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During 2010 and 2009, the Plans investments (including investments bought, sold and held during
the year) appreciated (depreciated) in fair value as follows:
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Years Ended December 31, |
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2010 |
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2009 |
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Net change in fair value: |
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TD Ameritrade Holding Corporation
common stock |
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$ |
(1,253,501 |
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$ |
18,004,208 |
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The Toronto-Dominion Bank common stock |
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1,242,130 |
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2,846,016 |
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Mutual funds |
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31,735,614 |
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42,386,660 |
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Self-directed brokerage accounts |
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2,446,623 |
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4,531,653 |
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Net appreciation in fair value of investments |
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$ |
34,170,866 |
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$ |
67,768,537 |
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8
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
4. Fair Value Disclosures
Fair Value Measurement Definition and Hierarchy
ASC 820-10, Fair Value Measurements and Disclosures, defines fair value as the price that would be
received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction
between market participants at the measurement date.
In determining fair value, the Plan uses various valuation approaches, including market, income
and/or cost approaches. ASC 820-10 establishes a hierarchy for inputs used in measuring fair value
that maximizes the use of observable inputs and minimizes the use of unobservable inputs by
requiring that the most observable inputs be used when available. Observable inputs reflect the
assumptions market participants would use in pricing the asset or liability, developed based on
market data obtained from sources independent of the Plan. Unobservable inputs reflect the Plans
own assumptions about the assumptions market participants would use in pricing the asset or
liability, developed based on the best information available in the circumstances.
The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value
into three broad levels, as follows:
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Level 1 Quoted prices (unadjusted) in active markets for identical assets
or liabilities that the Plan has the ability to access. This category includes active
exchange-traded funds, mutual funds and equity securities. |
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Level 2 Inputs other than quoted prices included in Level 1 that are
observable for the asset or liability, either directly or indirectly. Such inputs include
quoted prices in markets that are not active, quoted prices for similar assets and
liabilities in active markets, inputs other than quoted prices that are observable for the
asset or liability and inputs that are derived principally from or corroborated by
observable market data by correlation or other means. This category includes most debt securities and other interest-sensitive financial instruments. Level 2 assets are
held in self-directed brokerage accounts. |
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Level 3 Unobservable inputs for the asset or liability, where there is
little, if any, observable market activity or data for the asset or liability. |
9
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
The following tables present the Plans fair value hierarchy for assets and liabilities measured on a recurring basis as of December 31, 2010 and 2009:
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As of December 31, 2010 |
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Level 1 |
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Level 2 |
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Level 3 |
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Fair Value |
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Assets |
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Investments, at fair value: |
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TD Ameritrade Holding Corporation
common stock |
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$ |
61,532,933 |
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$ |
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$ |
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$ |
61,532,933 |
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The Toronto-Dominion Bank common stock |
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7,954,312 |
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7,954,312 |
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Mutual funds |
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Lifecycle |
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53,794,716 |
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53,794,716 |
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Foreign Large Cap Blend |
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40,807,282 |
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40,807,282 |
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Medium Cap Growth |
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37,646,666 |
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37,646,666 |
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Large Cap Growth |
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22,763,713 |
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22,763,713 |
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Small Cap Blend |
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22,422,517 |
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22,422,517 |
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Fixed Income |
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22,307,033 |
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22,307,033 |
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Large Cap Blend |
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21,969,449 |
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21,969,449 |
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Large Cap Value |
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14,465,741 |
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14,465,741 |
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Other |
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1,254,212 |
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|
26,445 |
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|
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|
1,280,657 |
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Equity securities |
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26,275,752 |
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|
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|
26,275,752 |
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Money market mutual funds |
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41,533,689 |
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41,533,689 |
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Corporate debt securities |
|
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494,130 |
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|
494,130 |
|
U.S. government debt securities |
|
|
|
|
|
|
119,875 |
|
|
|
|
|
|
|
119,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets at fair value |
|
$ |
374,728,015 |
|
|
$ |
640,450 |
|
|
$ |
|
|
|
$ |
375,368,465 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2009 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Fair Value |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at fair value: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TD Ameritrade Holding Corporation
common stock |
|
$ |
63,463,653 |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
63,463,653 |
|
The Toronto-Dominion Bank common stock |
|
|
6,691,171 |
|
|
|
|
|
|
|
|
|
|
|
6,691,171 |
|
Mutual funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lifecycle |
|
|
35,191,712 |
|
|
|
|
|
|
|
|
|
|
|
35,191,712 |
|
Foreign Large Cap Blend |
|
|
31,790,506 |
|
|
|
|
|
|
|
|
|
|
|
31,790,506 |
|
Medium Cap Growth |
|
|
27,075,880 |
|
|
|
|
|
|
|
|
|
|
|
27,075,880 |
|
Large Cap Growth |
|
|
17,974,599 |
|
|
|
|
|
|
|
|
|
|
|
17,974,599 |
|
Fixed Income |
|
|
17,565,529 |
|
|
|
|
|
|
|
|
|
|
|
17,565,529 |
|
Large Cap Blend |
|
|
17,329,435 |
|
|
|
|
|
|
|
|
|
|
|
17,329,435 |
|
Small Cap Blend |
|
|
16,157,006 |
|
|
|
|
|
|
|
|
|
|
|
16,157,006 |
|
Large Cap Value |
|
|
11,987,831 |
|
|
|
|
|
|
|
|
|
|
|
11,987,831 |
|
Other |
|
|
1,166,538 |
|
|
|
48,813 |
|
|
|
|
|
|
|
1,215,351 |
|
Equity securities |
|
|
19,586,614 |
|
|
|
|
|
|
|
|
|
|
|
19,586,614 |
|
Money market mutual funds |
|
|
29,696,691 |
|
|
|
|
|
|
|
|
|
|
|
29,696,691 |
|
Corporate debt securities |
|
|
|
|
|
|
364,678 |
|
|
|
|
|
|
|
364,678 |
|
U.S. government debt securities |
|
|
|
|
|
|
165,602 |
|
|
|
|
|
|
|
165,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets at fair value |
|
$ |
295,677,165 |
|
|
$ |
579,093 |
|
|
$ |
|
|
|
$ |
296,256,258 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Techniques
|
|
|
Equity securities, including TD Ameritrade Holding Corporation and The
Toronto-Dominion Bank Common Stock Fair value is determined by quoted market prices. |
|
|
|
|
Mutual Funds Fair value is determined by quoted net asset value. |
|
|
|
|
Debt Securities The primary inputs to the valuation of debt securities include quoted
prices for identical or similar assets in markets that are not active, contractual cash
flows, benchmark yields and credit spreads. |
The Plan had no liabilities measured at fair value on a recurring basis as of December 31, 2010 and
2009. There were no transfers between any levels of the fair value hierarchy during the
11
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
years ended December 31, 2010 and 2009. There were no nonfinancial assets or liabilities
measured at fair value during the years ended December 31, 2010 and 2009.
5. Parties-in-Interest
The Plan holds shares of common stock of both the Parent and The Toronto-Dominion Bank. TDAOH is a
wholly-owned subsidiary of the Parent. As of December 31, 2010, The Toronto-Dominion Bank owned
approximately 46.1% of the Parents common stock, of which 45% is permitted to be voted under the
terms of the Stockholders Agreement among The Toronto-Dominion Bank, the Parent and certain other
stockholders. TD Ameritrade, Inc., a wholly-owned subsidiary of the Parent, acts as the broker for
the Plans self-directed brokerage accounts.
Orchard Trust Company, LLC is the non-discretionary trustee as defined by the Plan. Administrative
and recordkeeping expenses of $424,882 and $426,550 were paid to Great-West Retirement Services in
2010 and 2009, respectively. Orchard Trust Company, LLC and Great-West Retirement Services are
wholly-owned subsidiaries of Great-West Life and Annuity Insurance Company. These transactions
qualify as party-in-interest transactions.
At December 31, 2010, the Plan held 3,240,281 shares of Parent common stock with a cost basis of
$42,934,461 and 107,043 shares of The Toronto-Dominion Bank common stock with a cost basis of
$3,036,495.
The Plan received dividends on the Parent and The Toronto-Dominion Bank common stock as follows,
which were reinvested in the respective stock:
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
|
|
2010 |
|
|
2009 |
|
Dividends on common stock: |
|
|
|
|
|
|
|
|
Parent |
|
$ |
163,157 |
|
|
$ |
|
|
The Toronto-Dominion Bank |
|
|
251,726 |
|
|
|
294,352 |
|
|
|
|
|
|
|
|
|
|
$ |
414,883 |
|
|
$ |
294,352 |
|
|
|
|
|
|
|
|
12
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Notes to Financial Statements (continued)
6. Tax Status
The Plan has received a determination letter from the Internal Revenue Service, dated
April 3, 2003, stating that the Plan is qualified under Section 401(a) of the Code and, therefore,
the related trust is exempt from taxation. Subsequent to this determination by the Internal Revenue
Service, the Plan was amended and restated. Once qualified, the Plan is required to operate in conformity with
the Code to maintain its qualification. The Plan administrator believes the Plan is being operated
in compliance with the applicable requirements of the Code and, therefore, believes that the Plan,
as amended and restated, is qualified and the related trust is tax exempt.
Accounting principles generally accepted in the United States require plan management to evaluate
uncertain tax positions taken by the Plan. The financial statement effects of a tax position are
recognized when the position is more likely than not, based on the technical merits, to be
sustained upon examination by the taxing authority. The plan administrator has analyzed the tax
positions taken by the Plan, and has concluded that as of December 31, 2010, there are no uncertain
positions taken or expected to be taken. The Plan has recognized no interest or penalties related
to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however,
there are currently no audits in progress for any tax periods. The plan administrator believes it
is no longer subject to income tax examinations for years prior to 2008.
13
TD Ameritrade Holding Corporation
Associates 401(k) Profit Sharing Plan and Trust
Employer Identification Number 47-0642657, Plan No. 001
Supplemental Schedule
Form 5500, Schedule H, Part IV, Line 4(i) Schedule of Assets
(Held at End of Year)
December 31, 2010
|
|
|
|
|
|
|
Identity of Issue, Borrower, |
|
Description of Investment Including Collateral, Rate |
|
|
|
Lessor or |
|
of Interest, Maturity Date, |
|
Current |
|
Similar Party |
|
Par or Maturity Value |
|
Value |
|
|
|
|
|
|
|
|
|
TD Ameritrade Holding Corporation* |
|
Common stock, 3,240,281 shares |
|
$ |
61,532,933 |
|
TD Ameritrade, Inc.* |
|
Self-directed brokerage accounts (comprised of various
self-directed investments) |
|
|
42,092,769 |
|
The Toronto-Dominion Bank* |
|
Common stock, 107,043 shares |
|
|
7,954,312 |
|
American Funds |
|
American Funds Growth Fund of America R5,
728,759 shares |
|
|
22,146,981 |
|
Goldman Sachs |
|
Goldman Sachs Large Cap Value Institutional Fund,
1,193,083 shares |
|
|
14,185,753 |
|
The Lazard Funds, Inc. |
|
Lazard Emerging Markets Open Fund, 1,187,179 shares |
|
|
26,343,509 |
|
Pacific Investment Management Co. |
|
PIMCO Total Return Institutional Fund, 1,317,702 shares |
|
|
14,297,065 |
|
T. Rowe Price |
|
T. Rowe Price International Bond Fund, 219,866 shares |
|
|
2,187,668 |
|
T. Rowe Price |
|
T. Rowe Price Mid Cap Growth Fund, 641,447 shares |
|
|
37,543,882 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2005 Fund, 23,365 shares |
|
|
264,958 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2010 Fund, 57,213 shares |
|
|
877,647 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2015 Fund, 187,286 shares |
|
|
2,226,834 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2020 Fund, 298,997 shares |
|
|
4,915,514 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2025 Fund, 237,261 shares |
|
|
2,856,625 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2030 Fund, 650,236 shares |
|
|
11,236,080 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2035 Fund, 486,201 shares |
|
|
5,946,239 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2040 Fund, 873,421 shares |
|
|
15,215,001 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2045 Fund, 367,831 shares |
|
|
4,270,522 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2050 Fund, 471,803 shares |
|
|
4,595,365 |
|
T. Rowe Price |
|
T. Rowe Price Retirement 2055 Fund, 127,163 shares |
|
|
1,224,584 |
|
T. Rowe Price |
|
T. Rowe Price Retirement Income Fund, 70,454 shares |
|
|
923,643 |
|
T. Rowe Price |
|
T. Rowe Price Small Cap Value Fund, 618,759 shares |
|
|
22,355,764 |
|
The Vanguard Group, Inc. |
|
Vanguard Institutional Index Fund, 152,491 shares |
|
|
17,538,007 |
|
The Vanguard Group, Inc. |
|
Vanguard Reserve Prime Money Market Institutional
Fund, 30,478,244 shares |
|
|
30,478,244 |
|
The Vanguard Group, Inc. |
|
Vanguard Total Bond Market Index Signal Fund,
357,130 shares |
|
|
3,785,573 |
|
The Vanguard Group, Inc. |
|
Vanguard Total International Stock Index Fund,
905,262 shares |
|
|
14,266,934 |
|
The Vanguard Group, Inc. |
|
Vanguard Total Stock Market Index Signal Fund,
134,757 shares |
|
|
4,106,059 |
|
Loans to Participants* |
|
Maturing from January 2011 to December 2025,
interest range: 4.25% to 10.5% |
|
|
9,692,228 |
|
|
|
|
|
|
|
|
|
|
|
$ |
385,060,693 |
|
|
|
|
|
|
|
|
|
|
* |
|
Represents a party-in-interest. |
14
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the TD
Ameritrade Holding Corporation Associates 401(k) Profit Sharing Plan and Trust Committee have duly
caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
TD AMERITRADE HOLDING CORPORATION
ASSOCIATES 401(k) PROFIT SHARING PLAN AND TRUST
|
|
|
|
|
|
|
|
Date: June 27, 2011 |
By: |
/s/ WILLIAM J. GERBER
|
|
|
|
William J. Gerber |
|
|
|
TD Ameritrade Holding Corporation
Executive Vice President, Chief Financial Officer |
|
EXHIBIT INDEX
|
|
|
Exhibit Number |
|
Description |
23.1
|
|
Consent of Ernst & Young LLP |