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Midas Edge

SCHWAB CHARLES CORP

For the period ended Dec 31, 2024. Filed Feb 26, 2025.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 26, 2025

SCHW$91.72-1.1%Stored close · as of Nov 12, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Fair Values of Assets and Liabilities

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  1. Fair Values of Assets and Liabilities

For a description of the fair value hierarchy and Schwab’s fair value methodologies, including the use of independent third-party pricing services, see Note 2. The Company did not adjust prices received from the primary independent third-party pricing service at December 31, 2024 or 2023.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis:

December 31, 2024Level 1Level 2Level 3Balance atFair Value
Cash equivalents:
Money market funds$11,005$—$—$11,005
Total cash equivalents11,005——11,005
Investments segregated and on deposit for regulatory purposes:
U.S. government securities—25,740—25,740
Total investments segregated and on deposit for regulatory purposes—25,740—25,740
Available for sale securities:
U.S. agency mortgage-backed securities—51,833—51,833
U.S. Treasury securities—14,469—14,469
Corporate debt securities—9,579—9,579
Asset-backed securities—5,910—5,910
U.S. state and municipal securities—549—549
Foreign government agency securities—527—527
Non-agency commercial mortgage-backed securities—109—109
Other—18—18
Total available for sale securities—82,994—82,994
Other assets:
Other securities owned:
Equity, corporate debt, and other securities1,39573—1,468
Mutual funds and ETFs1,019——1,019
State and municipal debt obligations—38—38
U.S. government securities—18—18
Total other securities owned2,414129—2,543
Total other assets2,414129—2,543
Total assets$13,419$108,863$—$122,282
Accrued expenses and other liabilities:
Other$2,161$37$—$2,198
Total accrued expenses and other liabilities2,16137—2,198
Total liabilities$2,161$37$—$2,198
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December 31, 2023Level 1Level 2Level 3Balance atFair Value
Cash equivalents:
Money market funds$14,573$—$—$14,573
Total cash equivalents14,573——14,573
Investments segregated and on deposit for regulatory purposes:
U.S. government securities—20,358—20,358
Total investments segregated and on deposit for regulatory purposes—20,358—20,358
Available for sale securities:
U.S. agency mortgage-backed securities—62,795—62,795
U.S. Treasury securities—21,471—21,471
Corporate debt securities—12,484—12,484
Asset-backed securities—9,087—9,087
Foreign government agency securities—1,002—1,002
U.S. state and municipal securities—579—579
Non-agency commercial mortgage-backed securities—109—109
Certificates of deposit—100—100
Other—19—19
Total available for sale securities—107,646—107,646
Other assets:
Other securities owned:
Equity, corporate debt, and other securities99273—1,065
Mutual funds and ETFs795——795
State and municipal debt obligations—27—27
U.S. government securities—26—26
Total other securities owned1,787126—1,913
Total other assets1,787126—1,913
Total assets$16,360$128,130$—$144,490
Accrued expenses and other liabilities:
Other$1,644$89$—$1,733
Total accrued expenses and other liabilities1,64489—1,733
Total liabilities$1,644$89$—$1,733
  • 107 -

Fair Value of Other Financial Instruments

The following tables present the fair value hierarchy for other financial instruments:

December 31, 2024CarryingAmountLevel 1Level 2Level 3Balance atFair Value
Assets
Cash and cash equivalents$31,078$31,078$—$—$31,078
Cash and investments segregated and on deposit for regulatory purposes12,4162,40110,015—12,416
Receivables from brokers, dealers, and clearing organizations2,440—2,440—2,440
Receivables from brokerage clients — net85,343—85,343—85,343
Held to maturity securities:
U.S. agency mortgage-backed securities146,453—132,605—132,605
Total held to maturity securities146,453—132,605—132,605
Bank loans — net:
First Mortgages27,375—24,336—24,336
HELOCs423—441—441
Pledged asset lines17,024—17,024—17,024
Other393—393—393
Total bank loans — net45,215—42,194—42,194
Other assets1,405—1,405—1,405
Liabilities
Bank deposits$259,121$—$259,121$—$259,121
Payables to brokers, dealers, and clearing organizations13,336—13,336—13,336
Payables to brokerage clients101,559—101,559—101,559
Accrued expenses and other liabilities1,076—1,076—1,076
Other short-term borrowings5,999—5,999—5,999
Federal Home Loan Bank borrowings16,700—16,700—16,700
Long-term debt22,379—21,621—21,621
December 31, 2023 · CarryingAmount · Level 1 · Level 2 · Level 3 · Balance atFair Value
Assets
Cash and cash equivalents$28,764$28,764$—$—$28,764
Cash and investments segregated and on deposit for regulatory purposes11,4382,6288,810—11,438
Receivables from brokers, dealers, and clearing organizations3,327—3,327—3,327
Receivables from brokerage clients — net68,629—68,629—68,629
Held to maturity securities:
U.S. agency mortgage-backed securities159,452—147,091—147,091
Total held to maturity securities159,452—147,091—147,091
Bank loans — net:
First Mortgages26,121—23,226—23,226
HELOCs477—508—508
Pledged asset lines13,548—13,548—13,548
Other293—293—293
Total bank loans — net40,439—37,575—37,575
Other assets1,633—1,633—1,633
Liabilities
Bank deposits$289,953$—$289,953$—$289,953
Payables to brokers, dealers, and clearing organizations6,648—6,648—6,648
Payables to brokerage clients84,786—84,786—84,786
Accrued expenses and other liabilities961—961—961
Other short-term borrowings6,553—6,553—6,553
Federal Home Loan Bank borrowings26,400—26,40026,400
Long-term debt26,043—25,000—25,000
  • 108 -
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.