P&L Calculations

Following is an example of how P&L is calculated when there are multiple executions for one position:

Executions	Average Cost Per Share	What the Positions Tab Displays
1/15/04Buy 500 DELL @ 20	20 Calculation: (500 * 20) = 10000 --> 20 per share	1/15/04 500 DELL Cost $10,000
1/15/04Buy 500 DELL @ 30	25 Calculation: (500 * 30) + (500 * 20) = 25000 --> (25000 / 1000) --> 25 per share	1/15/04 1000 DELL Cost $25,000
1/16/04Sell 200 DELL @ 35	26.25, assuming a FIFO accounting method (the default for Schwab accounts), so average cost per share is based on holding 300 shares @20 and 500 @ 30 Calculation: (300 * 20) + (500 * 30) = 21000 --> (21000 / 800) --> 26.25 (note that the sell price is irrelevant)	1/16/04 800 DELL Cost $21,000 (26.25 x 800 = 21,000)
1/16/04Sell 400 DELL @ 32	30, as all the remaining shares are from the 500@ 30 purchase	1/16/04 400 DELL Cost $12,000 (30 x 400 = 12,000)
1/17/04Buy 600 DELL @ 32	31.20 Calculation: (400 * 30) + (600 * 32) = 31200 --> (31200 / 1000) --> 31.20 per share	1/17/04 1000 DELL Cost $31,200 (31.20 x 1000 = 31,200)
1/17/04Sell 600 DELL @ 34	32, as the remaining 400 shares are from the 600@ 32 purchase	1/17/04 400 DELL Cost $12,800 (32 x 400 = 12,800)

Important Information Regarding Cost Information and P&L Calculations for Your Accounts

Missing cost and P&L information will be represented with an ‘N/A’. Incomplete cost and P&L information will be represented with either the word ‘Incomplete’ or an asterisk (*) in the Cost column and P&L columns.

If lot level data is not available for your account but cost data is displayed, it will exclude commissions and transaction fees, and will not reflect corporate actions including but not limited to: stock splits, stock dividends, spin-offs, mergers, and name changes.

If lot level information is available for your account, the cost and resulting profit and loss data will include commissions and transaction fees but may also be incomplete because it may exclude certain manual adjustments and corporate actions including but not limited to: stock dividends, spin-offs, mergers, and name changes. Please note that the Account Detail tool is not the official record of your account. Your statements and confirmations serve as your official records.