TD Ameritrade 2018 Annual Report

TD AMERITRADE HOLDING CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) 103 23. Quarterly Data (Unaudited) (Dollars in millions, except per share amounts) For the Fiscal Year Ended September 30, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Net revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,257 $ 1,415 $ 1,382 $ 1,398 Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 336 $ 396 $ 631 $ 635 Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 297 $ 271 $ 451 $ 454 Basic earnings per share . . . . . . . . . . . . . . . . . . . . . . . $ 0.52 $ 0.48 $ 0.79 $ 0.80 Diluted earnings per share . . . . . . . . . . . . . . . . . . . . . . $ 0.52 $ 0.48 $ 0.79 $ 0.80 For the Fiscal Year Ended September 30, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Net revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 859 $ 904 $ 931 $ 983 Operating income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 353 $ 358 $ 394 $ 361 Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 216 $ 214 $ 231 $ 211 Basic earnings per share. . . . . . . . . . . . . . . . . . . . . . . . $ 0.41 $ 0.41 $ 0.44 $ 0.40 Diluted earnings per share . . . . . . . . . . . . . . . . . . . . . . $ 0.41 $ 0.40 $ 0.44 $ 0.39 Quarterly amounts may not sum to fiscal year totals due to rounding. 24. Subsequent Event Senior Notes — On October 30, 2018, the Company sold, through a public offering, $600 million aggregate principal amount of unsecured variable-rate senior notes dueNovember 1, 2021 (the "2021Notes") and $400million aggregate principal amount of unsecured 3.750% senior notes due April 1, 2024 (the "2024 Notes"). The Company intends to use the net proceeds from the issuance of the 2021 Notes and 2024 Notes for general corporate purposes, including to augment liquidity. The 2021 Notes will bear interest at a variable rate, reset quarterly, equal to three-month LIBOR plus 0.430% per annum, payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning on February 1, 2019. Interest on the fixed-rate 2024 Notes will be payable in arrears semi-annually on April 1 and October 1 of each year, beginning on April 1, 2019. The Company's obligations in respect to the 2021 Notes and the 2024 Notes are not guaranteed by any of its subsidiaries. The Company may redeem the 2024 Notes, in whole or in part, at any time prior to March 2, 2024 at a redemption price equal to the greater of (a) 100% of the principal amount of the notes being redeemed, and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed, discounted to the date of redemption on a semi-annual basis at the comparable U.S. Treasury rate, plus 15 basis points, plus accrued and unpaid interest to the date of redemption. The Company may redeem the 2021 Notes and 2024 Notes, in whole or in part, at any time on or after October 2, 2021 and March 2, 2024, respectively, at a redemption price equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest to the date of redemption.