SCHWAB CHARLES CORP
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
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Item 2. Properties
As part of our real estate energy management program, Schwab incorporates sustainable practices and procedures to guide our facilities’ design, materials, and building technologies. A summary of Schwab’s significant locations is presented in the following table.
| December 31, 2023 | Square Footage | |
|---|---|---|
| (amounts in thousands) | Leased | Owned |
| Location | ||
| Corporate headquarters: | ||
| Westlake, TX | 22 | 795 |
| Service and other office space: | ||
| Phoenix, AZ | 67 | 728 |
| Denver, CO | — | 767 |
| Omaha, NE | — | 578 |
| Austin, TX | — | 561 |
| San Francisco, CA | 417 | — |
| Southlake, TX | 13 | 375 |
| St. Louis, MO | — | 375 |
| Chicago, IL | 223 | — |
| Jersey City, NJ | 208 | — |
| Indianapolis, IN | — | 161 |
| Orlando, FL | 159 | — |
| Richfield, OH | — | 117 |
| El Paso, TX | — | 105 |
The square footage amounts presented in the table above are net of space that has been subleased to third parties. Our corporate headquarters, data centers, offices, and service centers support both of our segments.
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During 2023, the Company continued its integration of TD Ameritrade and engaged in certain other cost reduction efforts, including to decrease its real estate footprint. As part of these actions, the Company’s use of certain of the above locations was decreased in 2023, including Jersey City, NJ and San Francisco, CA, and certain additional reductions in the Company’s real estate footprint are expected in 2024. See Part II – Item 8 – Notes 7, 13, and 15 for additional information.
As of December 31, 2023, the Company had more than 380 domestic branch offices in 48 states and the District of Columbia, as well as locations in Puerto Rico, the United Kingdom, Hong Kong, and Singapore. Substantially all branch offices are located in leased premises.
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