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TD Ameritrade Holding Corporation$51.46($1.23)(2.33%)

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 TD Ameritrade Reports Record 2015 Earnings; Seventh Consecutive Year of Double-Digit Asset Gathering
   Tuesday, October 27, 2015 7:30:03 AM ET

--Record Net Revenues of $3.2B, up 4% Year-Over-Year

--Record Net New Client Assets of $63B, 10% Annualized Growth Rate

TD Ameritrade Holding Corporation (AMTD ) has released results for fiscal 2015. The Company gathered approximately $63 billion in net new client assets, maintaining its industry-leading double-digit net new client asset growth rate for the seventh consecutive year.

The Company’s results for the fiscal year ended Sept. 30, 2015 include the following: (1)

-- Record $1.49 earnings per diluted share, on record net income of $813 million

-- Record net new client assets of approximately $63 billion, an annualized growth rate of 10 percent

-- Record average client trades per day of approximately 462,000, an activity rate of 7.1 percent

-- Record net revenues of $3.2 billion, 55 percent of which were asset-based

-- Record investment product fee revenue of $334 million, up 8 percent year-over-year

-- Record pre-tax income of $1.3 billion, or 40 percent of net revenues

-- Record EBITDA(2) of $1.5 billion, or 47 percent of net revenues

-- Record interest rate-sensitive assets(3) of $108 billion, up 8 percent year-over-year

-- Client assets of approximately $667 billion, up 2 percent year-over-year

"The story of 2015 is one of continued momentum and strength in nearly every area of our business," said Fred Tomczyk, president and chief executive officer. "Strong trading and asset gathering have again helped us deliver growth in earnings, despite the continued low interest rate environment. We finished the year strong in trading, averaging a record 462,000 trades per day, as volatility returned to the markets in the fourth quarter. And, we gathered a record $63 billion in net new client assets, a double-digit growth rate for the seventh consecutive year. We will carry that momentum with us into fiscal 2016. We have a strong competitive position, an unrelenting client focus, and we remain well-aligned with the secular growth trends - which will serve to help us continue delivering strong organic growth and earnings."

"Fiscal 2015 was a good year, with record earnings of $1.49 per diluted share, despite a prolonged near-zero interest rate environment. We also bought back nearly 11 million shares of our common stock, or 2 percent of outstanding shares. Building our long-term earnings power remains our focus, and with interest rate-sensitive assets now at a record $108 billion, we remain well-positioned for a rising rate environment," said Steve Boyle, executive vice president and chief financial officer. "As we look ahead, our client-focused growth strategy will remain our utmost priority, with trading levels, balance growth and the interest rate environment being the primary drivers of our fiscal 2016 results. We will be disciplined on managing expenses, utilizing productivity savings to invest in future growth. We would expect that these efforts, combined with plans to return 60-to-80 percent of net income excluding amortization of intangible assets, will provide our shareholders with continued value and further enhance our results."

Fourth Quarter 2015 Results In addition, the Company has released its results for the quarter ended Sept. 30, 2015, which include the following: (1)

-- Net income of $216 million, or $0.40 per diluted share, up 5 percent year-over-year

-- Net new client assets of approximately $16 billion, an annualized growth rate of 9 percent

-- Average client trades per day of approximately 479,000, an activity rate of 7.3 percent

-- Record net revenues of $831 million, 55 percent of which were asset-based

-- Investment product fee revenue of $82 million, down 1 percent year-over-year

-- Pre-tax income of $347 million, or 42 percent of net revenues

-- EBITDA(2) of $405 million, or 49 percent of net revenues

-- Return on average stockholders’ equity (annualized) of 17 percent

Capital Management During the 2015 fiscal year, the Company paid $326 million, or $0.60 per share, in cash dividends, which included four quarterly dividends of $0.15 per share. The Company also repurchased approximately 11 million shares of its common stock.

The Company has declared a $0.17 per share quarterly cash dividend, an increase of 13 percent year-over-year, payable on Nov. 24, 2015 to all holders of record of common stock as of Nov. 10, 2015.

Fiscal 2016 Outlook The Company has also released its outlook for the 2016 fiscal year, which reflects expected earnings of $1.45 to $1.75 per diluted share for its 2016 fiscal year.

More information on the fiscal 2016 forecast is available through the Company’s Outlook Statement, located in the "Financials & reports" section of its corporate web site, www.amtd.com.

Company Hosts Conference Call TD Ameritrade will host its September Quarter conference call this morning, Oct. 27, 2015, at 8:30 a.m. EDT (7:30 a.m. CDT). Participants may listen to the conference call by dialing 855-238-2333. The Company will webcast the conference call through www.amtd.com, via the "Presentations & Events" page of the web site. A replay of the phone call will be available beginning at 10:30 a.m. EDT (9:30 a.m. CDT) on Oct. 27, 2015 by dialing 877-344-7529 and entering the Conference ID 10072134. The replay will be available until 9:00 a.m. EDT (8:00 a.m. CDT) on Nov. 4, 2015. A transcript of the call will be available on the Company’s corporate web site, www.amtd.com, via either the "Investor Relations" page or the "Presentations & Events" page beginning Wednesday, Oct. 28, 2015.

Information about the Company’s corporate events, including earnings conference calls and webcasts, can be found by visiting www.amtd.com and clicking on "Investor Relations" and "Presentations & Events." Click on the date of the event to access all pertinent links and resources. A high speed Internet connection is required in order to view the webcast.

The Company asks that interested parties visit or subscribe to newsfeeds at www.amtd.com for the most up-to-date corporate financial information, presentation announcements, transcripts and archives. The Company also communicates this information via Twitter, @TDAmeritradePR. Web site links, corporate titles and telephone numbers provided in this release, although correct when published, may change in the future.

About TD Ameritrade Holding Corporation Millions of investors and independent registered investment advisors (RIAs) have turned to TD Ameritrade’s (AMTD ) technology, people and education to help make investing and trading easier to understand and do. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how - bringing Wall Street to Main Street for more than 40 years. An official sponsor of the 2016 U.S. Olympic and Paralympic Teams, as well as an official sponsor of the National Football League, TD Ameritrade has time and again been recognized as a leader in investment services. Please visit TD Ameritrade’s newsroom or www.amtd.com for more information, or read our stories at http://freshaccounts.amtd.com .

Source: TD Ameritrade Holding Corporation

Safe Harbor This document contains forward-looking statements within the meaning of the federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws. In particular, any projections regarding our future revenues, expenses, earnings, capital expenditures, effective tax rates, client trading activity, accounts or stock price, as well as the assumptions on which such expectations are based, are forward-looking statements. These statements reflect only our current expectations and are not guarantees of future performance or results. These statements involve risks, uncertainties and assumptions that could cause actual results or performance to differ materially from those contained in the forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to: general economic and political conditions and other securities industry risks, fluctuations in interest rates, stock market fluctuations and changes in client trading activity, credit risk with clients and counterparties, increased competition, systems failures, delays and capacity constraints, network security risks, liquidity risks, new laws and regulations affecting our business, regulatory and legal matters and uncertainties and other risk factors described in our latest Annual Report on Form 10-K, filed with the SEC on Nov. 21, 2014 and our latest Quarterly Report on Form 10-Q filed thereafter. These forward-looking statements speak only as of the date on which the statements were made. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by the federal securities laws.

(1) Please see the Glossary of Terms, located in "Investor" section of www.amtd.com for more information on how these metrics are calculated.

(2)See attached reconciliation of non-GAAP financial measures.

(3)Interest rate-sensitive assets consist of spread-based assets and money market mutual funds. Ending balances as of Sept. 30, 2015.

Brokerage services provided by TD Ameritrade, Inc., member FINRA (www.FINRA.org) /SIPC (www.SIPC.org).

                                                                                                                                                                         TD AMERITRADE HOLDING CORPORATION
                                                                                                                                                                         CONSOLIDATED STATEMENTS OF INCOME
                                                                                                                                                                       In millions, except per share amounts
                                                                                                                                                                                    (Unaudited)
                                                                                                                                                                                                                                  
                                                                                                                                               Quarter Ended                                                                                                                                                    Fiscal Year Ended
                                                                   ---------------------------------------------------------------------------------------------------------------------------------------------------------------------                     ----------------------------------------------------------------------------------------------------------------------
                                                                          Sept. 30, 2015                                              June 30, 2015                                                      Sept. 30, 2014                                                       Sept. 30, 2015                                                       Sept. 30, 2014
                                                                   -----------------------------                     -----------------------------------------------                     -----------------------------------------------                     ------------------------------------------------                     -------------------------------------------------
Revenues:
   Transaction-based revenues:
      Commissions and transaction fees                             $                        364                      $                     328                                           $                     332                                           $                    1,401                                           $                     1,351
                                                                                                                                                                                                                                                                                                                                   
   Asset-based revenues:
      Insured deposit account fees                                                          218                                            209                                                                 208                                                                  839                                                                   820
      Net interest revenue                                                                  155                                            156                                                                 159                                                                  622                                                                   581
      Investment product fees                                             82                          85                            83                            334                             309  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
         Total asset-based revenues                                                         455                                            450                                                                 450                                                                1,795                                                                 1,710
                                                                                                                                                                                                                                                                                                                                                               
   Other revenues                                                         12                          16                            13                             51                              62  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
      Net revenues                                                       831                         794                           795                          3,247                           3,123  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                   
Operating expenses:
   Employee compensation and benefits                                                       199                                            202                                                                 195                                                                  807                                                                   760
   Clearing and execution costs                                                              39                                             36                                                                  36                                                                  148                                                                   134
   Communications                                                                            32                                             31                                                                  31                                                                  125                                                                   116
   Occupancy and equipment costs                                                             42                                             40                                                                  41                                                                  163                                                                   156
   Depreciation and amortization                                                             22                                             23                                                                  23                                                                   91                                                                    95
   Amortization of acquired intangible assets                                                23                                             22                                                                  23                                                                   90                                                                    90
   Professional services                                                                     39                                             43                                                                  38                                                                  159                                                                   155
   Advertising                                                                               49                                             54                                                                  45                                                                  248                                                                   250
   Other                                                                  26                          18                            25                             91                              82  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
      Total operating expenses                                           471                         469                           457                          1,922                           1,838  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                               
Operating income                                                                            360                                            325                                                                 338                                                                1,325                                                                 1,285
                                                                                                                                                                                                                                                                                                                                   
Other expense (income):
   Interest on borrowings                                                                    13                                             13                                                                   6                                                                   43                                                                    25
   Gain on sale of investments                                                                -                                             (7 )                                                               (10 )                                                                 (7 )                                                                 (10 )
   Other                                                                   -                           -                             -                              1                               -  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
      Total other expense (income)                                        13                           6                            (4 )                                              37                              15  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                               
Pre-tax income                                                                              347                                            319                                                                 342                                                                1,288                                                                 1,270
Provision for income taxes                                               131                         122                           131                            475                             483  
                                                                   -------------------- -------                      -------------------- ---- --------------------                      -------------------- ---- --------------------                      -------------------- ----- --------------------                      -------------------- ------ --------------------
Net income                                                         $                        216                      $                     197                        $                     211                        $                      813                        $                       787  
                                                                   ==================== =======                      ==================== ==== ====================                      ==================== ==== ====================                      ==================== ===== ====================                      ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                               
Earnings per share - basic                                         $                       0.40                      $                    0.36                                           $                    0.39                                           $                     1.50                                           $                      1.43
Earnings per share - diluted                                       $                       0.40                      $                    0.36                                           $                    0.38                                           $                     1.49                                           $                      1.42
                                                                                                                                                                                                                                                                                                                                                               
Weighted average shares outstanding - basic                                                 541                                            544                                                                 547                                                                  543                                                                   550
Weighted average shares outstanding - diluted                                               545                                            547                                                                 551                                                                  547                                                                   554
                                                                                                                                                                                                                                                                                                                                                               
Dividends declared per share                                       $                       0.15                      $                    0.15                                           $                    0.12                                           $                     0.60                                           $                      0.98
                                                                                                                                                                                                                                                                                                                                                               
                                                                              TD AMERITRADE HOLDING CORPORATION
                                                                            CONDENSED CONSOLIDATED BALANCE SHEETS
                                                                                         In millions
                                                                                         (Unaudited)
                                                                               
                                                                                                                 Sept. 30, 2015                                      Sept. 30, 2014
                                                                                                          -----------------------------                     --------------------------------
Assets:
                     Cash and cash equivalents                                                            $                      1,978                      $                         1,460
                     Segregated cash and investments                                                                             6,305                                                5,116
                     Broker/dealer receivables                                                                                     862                                                1,108
                     Client receivables, net                                                                                    12,770                                               11,639
                     Goodwill and intangible assets                                                                              3,128                                                3,218
                     Other                                                                                    1,332                             1,288
                                                                                                          -------------------- -------                      -------------------- ----------
                                          Total assets                                                    $                     26,375                      $                        23,829
                                                                                                          ==================== =======                      ==================== ==========
                                                                                                                                                             
Liabilities and stockholders’ equity:
                                                                                                                                                             
Liabilities:
                     Broker/dealer payables                                                               $                      2,707                      $                         2,421
                     Client payables                                                                                            16,027                                               14,497
                     Notes payable                                                                                                   -                                                  150
                     Long-term debt                                                                                              1,800                                                1,099
                     Other                                                                                      938                               914
                                                                                                          -------------------- -------                      -------------------- ----------
                                          Total liabilities                                                                     21,472                                               19,081
Stockholders’ equity                                                                                          4,903                             4,748
                                                                                                          -------------------- -------                      -------------------- ----------
                                          Total liabilities and stockholders’ equity                      $                     26,375                      $                        23,829
                                                                                                          ==================== =======                      ==================== ==========
                                                                                                                                                             
                                                                                                                                             TD AMERITRADE HOLDING CORPORATION
                                                                                                                                                  SELECTED OPERATING DATA
                                                                                                                                                        (Unaudited)
                                                                                                                                                                                                  
                                                                                                                                             Quarter Ended                                                                                                                Fiscal Year Ended
                                                                                   ---------------------------------------------------------------------------------------------------------------------------------                     ----------------------------------------------------------------------------------
                                                                                          Sept. 30, 2015                  June 30, 2015                 Sept. 30, 2014                                    Sept. 30, 2015                   Sept. 30, 2014
                                                                                   -----------------------------                     -----------------------------                     -----------------------------                     -----------------------------                     --------------------------------
                         Key Metrics:
-------------------------------------------------------------
Net new assets (in billions)                                                         $16.2                                             $11.7                                             $13.4                                             $63.0                                                $53.4
Net new asset growth rate (annualized)                                                   9 %                                               7 %                                               8 %                                              10 %                                                 10 %
Average client trades per day                                                      478,776                                           433,759                                           402,638                                           461,541                                              426,888
                                                                                                                                                                                                                                                                                            
                    Profitability Metrics:
-------------------------------------------------------------
Operating margin                                                                      43.3 %                                            40.9 %                                            42.5 %                                            40.8 %                                               41.1 %
Pre-tax margin                                                                        41.8 %                                            40.2 %                                            43.0 %                                            39.7 %                                               40.7 %
Return on average stockholders’ equity (annualized)                                   17.4 %                                            15.9 %                                            17.8 %                                            16.7 %                                               16.8 %
EBITDA(1) as a percentage of net revenues                                             48.7 %                                            47.5 %                                            49.6 %                                            46.6 %                                               47.4 %
                                                                                                                                                                                                                                                                                            
                      Liquidity Metrics:
-------------------------------------------------------------
Interest on borrowings (in millions)                                                   $13                                               $13                                                $6                                               $43                                                  $25
Interest coverage ratio (EBITDA(1)/interest on borrowings)                            31.2                                              29.0                                              65.7                                              35.2                                                 59.2
Liquid assets available for corporate investing and financing                         $0.5                                              $0.6                                              $0.8                                              $0.5                                                 $0.8
activities(1) (in billions)
Cash and cash equivalents (in billions)                                               $2.0                                              $2.2                                              $1.5                                              $2.0                                                 $1.5
                                                                                                                                                                                                                                                                                            
              Transaction-Based Revenue Metrics:
-------------------------------------------------------------
Total trades (in millions)                                                            30.6                                              27.3                                              25.6                                             115.8                                                106.9
Average commissions and transaction fees per trade                                  $11.89                                            $11.99                                            $12.97                                            $12.09                                               $12.62
Average client trades per funded account (annualized)                                 18.2                                              16.7                                              16.1                                              17.9                                                 17.4
Activity rate - funded accounts                                                        7.3 %                                             6.7 %                                             6.4 %                                             7.1 %                                                6.9 %
Trading days                                                                          64.0                                              63.0                                              63.5                                             251.0                                                250.5
Order routing revenue (in millions)                                                    $76                                               $71                                               $77                                              $299                                                 $304
                                                                                                                                                                                                                                                                                            
                  Spread-Based Asset Metrics:
-------------------------------------------------------------
Average insured deposit account balances (in billions)                               $78.2                                             $74.8                                             $73.6                                             $75.7                                                $72.9
Average interest-earning assets (in billions)                                         21.6                           20.5                           19.3                           20.2                              18.6  
                                                                                   ------- --------------------                      ------- --------------------                      ------- --------------------                      ------- --------------------                      ---------- --------------------
   Average spread-based balances (in billions)                                       $99.8                          $95.3                          $92.9                          $95.9                             $91.5  
                                                                                   ======= ====================                      ======= ====================                      ======= ====================                      ======= ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                       
Insured deposit account fee revenue (in millions)                                     $218                                              $209                                              $208                                              $839                                                 $820
Net interest revenue (in millions)                                                     155                            156                            159                            622                               581  
                                                                                   ------- --------------------                      ------- --------------------                      ------- --------------------                      ------- --------------------                      ---------- --------------------
   Spread-based revenue (in millions)                                                 $373                           $365                           $367                         $1,461                            $1,401  
                                                                                   ======= ====================                      ======= ====================                      ======= ====================                      ======= ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                       
Avg. annualized yield - insured deposit account fees                                  1.09 %                                            1.10 %                                            1.11 %                                            1.09 %                                               1.11 %
Avg. annualized yield - interest-earning assets                                       2.81 %                                            3.02 %                                            3.23 %                                            3.03 %                                               3.09 %
   Net interest margin (NIM)                                                          1.46 %                                            1.51 %                                            1.55 %                                            1.50 %                                               1.51 %
                                                                                                                                                                                                                                                                                            
                 Fee-Based Investment Metrics:
-------------------------------------------------------------
Money market mutual fund fees:
-------------------------------------------------------------
   Average balance (in billions)                                                      $5.7                                              $5.6                                              $5.5                                              $5.6                                                 $5.3
   Average annualized yield                                                           0.02 %                                            0.00 %                                            0.00 %                                            0.01 %                                               0.00 %
                                                                                   ------- --------------------                      ------- --------------------                      ------- --------------------                      ------- --------------------                      ---------- --------------------
   Fee revenue (in millions)                                                            $0                             $0                             $0                             $0                                $0  
                                                                                   ------- --------------------                      ------- --------------------                      ------- --------------------                      ------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                            
Market fee-based investment balances:
-------------------------------------------------------------
   Average balance (in billions)                                                    $151.4                                            $155.7                                            $138.5                                            $150.5                                               $131.4
   Average annualized yield                                                           0.21 %                                            0.22 %                                            0.23 %                                            0.22 %                                               0.23 %
                                                                                   ------- --------------------                      ------- --------------------                      ------- --------------------                      ------- --------------------                      ---------- --------------------
   Fee revenue (in millions)                                                           $82                            $85                            $83                           $334                              $309  
                                                                                   ------- --------------------                      ------- --------------------                      ------- --------------------                      ------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                       
     Average fee-based investment balances (in billions)                            $157.1                                            $161.3                                            $144.0                                            $156.1                                               $136.7
     Average annualized yield                                                         0.20 %                                            0.21 %                                            0.23 %                                            0.21 %                                               0.22 %
                                                                                   ------- --------------------                      ------- --------------------                      ------- --------------------                      ------- --------------------                      ---------- --------------------
     Investment product fee revenue (in millions)                                      $82                            $85                            $83                           $334                              $309  
                                                                                   ======= ====================                      ======= ====================                      ======= ====================                      ======= ====================                      ========== ====================
                                                                                                                                                                                                                                                                                            
(1) See attached reconciliation of non-GAAP financial
measures.
                                                                                                                                                                                                                                                                                            
NOTE: See Glossary of Terms on the Company’s web site at www.amtd.com
for definitions of the above metrics.
                                                                                                                                                                                                                                                                       
                                                                                                                                                     TD AMERITRADE HOLDING CORPORATION
                                                                                                                                                          SELECTED OPERATING DATA
                                                                                                                                                                (Unaudited)
                                                                                                                                                                                                               
                                                                                                                                                       Quarter Ended                                                                                                                    Fiscal Year Ended
                                                                                          ---------------------------------------------------------------------------------------------------------------------------------------                     ------------------------------------------------------------------------------------
                                                                                                  Sept. 30, 2015                    June 30, 2015                   Sept. 30, 2014                                      Sept. 30, 2015                    Sept. 30, 2014
                                                                                          -------------------------------                     -------------------------------                     -------------------------------                     -------------------------------                     --------------------------------
              Client Account and Client Asset Metrics:
--------------------------------------------------------------------
Funded accounts (beginning of period)                                                     6,551,000                                           6,467,000                                           6,237,000                                           6,301,000                                            5,993,000
Funded accounts (end of period)                                                           6,621,000                                           6,551,000                                           6,301,000                                           6,621,000                                            6,301,000
Percentage change during period                                                                   1 %                                                 1 %                                                 1 %                                                 5 %                                                  5 %
                                                                                                                                                                                                                                                                                                                      
Client assets (beginning of period, in billions)                                             $702.3                                              $695.3                                              $650.2                                              $653.1                                               $555.9
Client assets (end of period, in billions)                                                   $667.4                                              $702.3                                              $653.1                                              $667.4                                               $653.1
Percentage change during period                                                                  (5 %)                                                1 %                                                 0 %                                                 2 %                                                 17 %
                                                                                                                                                                                                                                                                                                           
                        Net Interest Revenue:
--------------------------------------------------------------------
Segregated cash:
--------------------------------------------------------------------
   Average balance (in billions)                                                               $5.1                                                $4.0                                                $5.3                                                $4.7                                                 $5.3
   Average annualized yield                                                                    0.08 %                                              0.11 %                                              0.13 %                                              0.11 %                                               0.13 %
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
   Interest revenue (in millions)                                                                $1                               $1                               $2                               $5                                $7  
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
 
Client margin balances:
--------------------------------------------------------------------
   Average balance (in billions)                                                              $12.6                                               $12.5                                               $11.2                                               $12.1                                                $10.5
   Average annualized yield                                                                    3.57 %                                              3.56 %                                              3.69 %                                              3.60 %                                               3.81 %
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
   Interest revenue (in millions)                                                              $115                             $112                             $105                             $443                              $405  
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                           
Securities borrowing/lending:
--------------------------------------------------------------------
   Average securities borrowing balance (in billions)                                          $0.9                                                $1.0                                                $1.1                                                $0.9                                                 $1.1
   Average securities lending balance (in billions)                                            $2.4                             $2.2                             $2.4                             $2.3                              $2.5  
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
   Net interest revenue - securities borrowing/lending (in millions)                            $39                              $43                              $52                             $174                              $169  
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                           
Other cash and interest-earning investments:
--------------------------------------------------------------------
   Average balance (in billions)                                                               $3.0                                                $3.0                                                $1.7                                                $2.5                                                 $1.7
   Average annualized yield                                                                    0.03 %                                              0.03 %                                              0.05 %                                              0.04 %                                               0.07 %
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
   Interest revenue - net (in millions)                                                          $0                               $0                               $0                               $1                                $1  
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                           
Client credit balances:
--------------------------------------------------------------------
   Average balance (in billions)                                                              $13.3                                               $12.2                                               $11.8                                               $12.4                                                $11.2
   Average annualized cost                                                                     0.01 %                                              0.01 %                                              0.01 %                                              0.01 %                                               0.01 %
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
   Interest expense (in millions)                                                               ($0 )                                               ($0 )                                               ($0 )                                               ($1 )                                                ($1 )
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                                      
Average interest-earning assets (in billions)                                                 $21.6                                               $20.5                                               $19.3                                               $20.2                                                $18.6
Average annualized yield                                                                       2.81 %                                              3.02 %                                              3.23 %                                              3.03 %                                               3.09 %
                                                                                          --------- --------------------                      --------- --------------------                      --------- --------------------                      --------- --------------------                      ---------- --------------------
Net interest revenue (in millions)                                                             $155                             $156                             $159                             $622                              $581  
                                                                                          ========= ====================                      ========= ====================                      ========= ====================                      ========= ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                           
NOTE: See Glossary of Terms on the Company’s web site at www.amtd.com
for definitions of the above metrics.
                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                     TD AMERITRADE HOLDING CORPORATION
                                                                                                                                                                                                                                     RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
                                                                                                                                                                                                                                     Dollars in millions
                                                                                                                                                                                                                                     (Unaudited)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                         Quarter Ended                                                                                                                                                                                                                                                                                           Fiscal Year Ended
                                                                                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                               Sept. 30, 2015                                                                                                                             June 30, 2015                                                                                                           Sept. 30, 2014                                                                                          Sept. 30, 2015                                                                                              Sept. 30, 2014
                                                                                                                            ---------------------------------------------------------------------------------------------------------------------                     ---------------------------------------------------------------------------------------------------------------------                     -----------------------------------------------------------------------------------                     -----------------------------------------------------------------------------------                     ------------------------------------------------------------------------------------------
                                                                                                                                                    $                                                              % of Net Rev.                                                              $                                                              % of Net Rev.                                                              $                                             % of Net Rev.                                             $                                             % of Net Rev.                                             $                                                % of Net Rev.
                                                                                                                            ------------------------------------------------                     ------------------------------------------------                     ------------------------------------------------                     ------------------------------------------------                     ------------------------------------------------                     --------------                     ------------------------------------------------                     --------------                     ------------------------------------------------                     ---------------------
                                              EBITDA (1)
----------------------------------------------------------------------------------------------------
EBITDA                                                                                                                                         $   405                                                                 48.7 %                                                            $   377                                                                 47.5 %                                                            $   394                                             49.6 %                                              $ 1,512                                             46.6 %                                              $ 1,480                                                 47.4 %
Less:
                                          Depreciation and amortization                                                                            (22 )                                                               (2.6 %)                                                               (23 )                                                               (2.9 %)                                                               (23 )                                           (2.9 %)                                                 (91 )                                           (2.8 %)                                                 (95 )                                               (3.0 %)
                                          Amortization of acquired intangible assets                                                               (23 )                                                               (2.8 %)                                                               (22 )                                                               (2.8 %)                                                               (23 )                                           (2.9 %)                                                 (90 )                                           (2.8 %)                                                 (90 )                                               (2.9 %)
                                          Interest on borrowings                                                                                   (13 )                                                               (1.6 %)                                                               (13 )                                                               (1.6 %)                                                                (6 )                                           (0.8 %)                                                 (43 )                                           (1.3 %)                                                 (25 )                                               (0.8 %)
                                          Provision for income taxes                                                           (131 )                                                              (15.8 %)                                           (122 )                                                              (15.4 %)                                           (131 )                                          (16.5 %)                             (475 )                                          (14.6 %)                             (483 )                                              (15.5 %)
                                                                                                                            -------------------- ----- --------------------                                                                                           -------------------- ----- --------------------                                                                                           -------------------- ----- --------------------                                                         -------------------- ----- --------------------                                                         -------------------- ----- --------------------
Net income                                                                                                                                     $   216                                              26.0 %                                                            $   197                                              24.8 %                                                            $   211                          26.5 %                                              $   813                          25.0 %                                              $   787                              25.2 %
                                                                                                                            ==================== ===== ====================                                                                                           ==================== ===== ====================                                                                                           ==================== ===== ====================                                                         ==================== ===== ====================                                                         ==================== ===== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                            As of
                                                                                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                Sept. 30                                                             June 30,                                                             Mar. 31,                                                             Dec. 31,                                                             Sept. 30,
                                                                                                                                                  2015                                                                 2015                                                                 2015                                                                 2014                                                                 2014
                                                                                                                            ------------------------------------------------                     ------------------------------------------------                     ------------------------------------------------                     ------------------------------------------------                     ------------------------------------------------
                                 Liquid Assets Available for Corporate
                                Investing and Financing Activities (2)
----------------------------------------------------------------------------------------------------
Liquid assets available for corporate investing and financing                                                                                  $   530                                                              $   581                                                              $   740                                                              $   731                                                              $   762
activities
Plus:                                     Non-corporate cash and cash equivalents                                                                  909                                                                1,116                                                                  662                                                                1,519                                                                1,162
                                          Corporate liquidity maintained for operational contingencies                                             750                                                                  750                                                                  750                                                                    -                                                                    -
Less:                                     Corporate short-term investments                                                                           -                                                                    -                                                                 (501 )                                                                  -                                                                    -
                                          Excess broker-dealer regulatory net capital                                          (211 )                                            (214 )                                            (371 )                                            (373 )                                            (464 )
                                                                                                                            -------------------- ----- --------------------                      -------------------- ----- --------------------                      -------------------- ----- --------------------                      -------------------- ----- --------------------                      -------------------- ----- --------------------
Cash and cash equivalents                                                                                                                      $ 1,978                                           $ 2,233                                           $ 1,280                                           $ 1,877                                           $ 1,460  
                                                                                                                            ==================== ===== ====================                      ==================== ===== ====================                      ==================== ===== ====================                      ==================== ===== ====================                      ==================== ===== ====================
                                           

Note: The term "GAAP" in the following explanation refers to generally accepted accounting principles in the United States.

(1)      EBITDA (earnings before interest, taxes, depreciation and
                            amortization) is considered a non-GAAP financial measure as defined
                            by SEC Regulation G. We consider EBITDA an important measure of our
                            financial performance and of our ability to generate cash flows to
                            service debt, fund capital expenditures and fund other corporate
                            investing and financing activities. EBITDA is used as the
                            denominator in the consolidated leverage ratio calculation for
                            covenant purposes under our holding company’s senior revolving
                            credit facility. EBITDA eliminates the non-cash effect of tangible
                            asset depreciation and amortization and intangible asset
                            amortization. EBITDA should be considered in addition to, rather
                            than as a substitute for, pre-tax income, net income and cash flows
                            from operating activities.
 
(2)                         Liquid assets available for corporate investing and financing
                            activities is considered a non-GAAP financial measure as defined by
                            SEC Regulation G. We consider "liquid assets available for corporate
                            investing and financing activities" to be an important measure of
                            our liquidity. We include the excess capital of our broker-dealer
                            subsidiaries in the calculation of liquid assets available for
                            corporate investing and financing activities, rather than simply
                            including broker-dealer cash and cash equivalents, because capital
                            requirements may limit the amount of cash available for dividend
                            from the broker-dealer subsidiaries to the parent company. Excess
                            capital, as defined below, is generally available for dividend from
                            the broker-dealer subsidiaries to the parent company. Liquid assets
                            available for corporate investing and financing activities should be
                            considered as a supplemental measure of liquidity, rather than as a
                            substitute for cash and cash equivalents.
 
                            We define liquid assets available for corporate investing and
                            financing activities as the sum of (a) corporate cash and cash
                            equivalents and short-term investments, excluding $750 million that
                            is being maintained to provide liquidity for operational
                            contingencies, including lending to our broker-dealer and futures
                            commission merchant subsidiaries under intercompany credit
                            agreements and (b) regulatory net capital of (i) our clearing
                            broker-dealer subsidiary in excess of 10% of aggregate debit items
                            and (ii) our introducing broker-dealer subsidiaries in excess of a
                            minimum operational target established by management ($50 million in
                            the case of our primary introducing broker-dealer, TD Ameritrade,
                            Inc.). Liquid assets available for corporate investing and financing
                            activities is based on more conservative measures of broker-dealer
                            net capital than regulatory requirements because we generally manage
                            to higher levels of net capital at the broker-dealer subsidiaries
                            than the regulatory thresholds require.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20151027005400r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20151027005400/en/

SOURCE: TD Ameritrade Holding Corporation"> <Property FormalName="PrimaryTwitterHandle" Value="@TDAmeritradePR

TD Ameritrade Holding Corporation 
Kim Hillyer, 402-574-6523 
Director, Communications 
kim.hillyer@tdameritrade.com 
or 
Jeff Goeser, 402-597-8464 
Director, Investor Relations and Finance 
jeffrey.goeser@tdameritrade.com


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