TD Ameritrade 2018 Annual Report

TD AMERITRADE HOLDING CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) 101 PARENT COMPANY ONLY CONDENSED STATEMENTS OF INCOME For the Years Ended September 30, 2018, 2017 and 2016 2018 2017 2016 (In millions) Net revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 52 $ 31 $ 30 Operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 34 26 Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 (3) 4 Other expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 71 53 Loss before income taxes and equity in income of subsidiaries . . . . . . . . . (75) (74) (49) Provision for (benefit from) income taxes . . . . . . . . . . . . . . . . . . . . . . . . . 15 (22) 6 Loss before equity in income of subsidiaries . . . . . . . . . . . . . . . . . . . . . . . (90) (52) (55) Equity in income of subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,563 924 897 Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,473 $ 872 $ 842