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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Revenue Recognition
- Revenue Recognition
Disaggregated Revenue
Disaggregation of Schwab’s revenue by major source is as follows:
| Year Ended December 31, | 2023 | 2022 | 2021 |
|---|---|---|---|
| Net interest revenue | |||
| Cash and cash equivalents | $1,894 | $812 | $40 |
| Cash and investments segregated | 1,355 | 691 | 24 |
| Receivables from brokerage clients | 4,793 | 3,321 | 2,455 |
| Available for sale securities | 2,987 | 4,139 | 4,641 |
| Held to maturity securities | 2,872 | 1,688 | — |
| Bank loans | 1,664 | 1,083 | 620 |
| Securities lending revenue | 419 | 471 | 720 |
| Other interest revenue | 127 | 22 | 6 |
| Interest revenue | 16,111 | 12,227 | 8,506 |
| Bank deposits | (3,363) | (723) | (54) |
| Payables to brokerage clients | (271) | (123) | (9) |
| Other short-term borrowings (1) | (375) | (48) | (9) |
| Federal Home Loan Bank borrowings (1) | (1,810) | (106) | — |
| Long-term debt | (715) | (498) | (384) |
| Securities lending expense | (147) | (48) | (24) |
| Other interest expense | (3) | 1 | 4 |
| Interest expense | (6,684) | (1,545) | (476) |
| Net interest revenue | 9,427 | 10,682 | 8,030 |
| Asset management and administration fees | |||
| Mutual funds, ETFs, and CTFs | 2,563 | 2,055 | 1,961 |
| Advice solutions | 1,868 | 1,854 | 1,993 |
| Other | 325 | 307 | 320 |
| Asset management and administration fees | 4,756 | 4,216 | 4,274 |
| Trading revenue | |||
| Commissions | 1,601 | 1,787 | 2,050 |
| Order flow revenue | 1,404 | 1,738 | 2,053 |
| Principal transactions | 225 | 148 | 49 |
| Trading revenue | 3,230 | 3,673 | 4,152 |
| Bank deposit account fees | 705 | 1,409 | 1,315 |
| Other | 719 | 782 | 749 |
| Total net revenues | $18,837 | $20,762 | $18,520 |
For additional discussion of contract balances, see Note 9. For a summary of revenue provided by our reportable segments, see Note 24. The recognition of revenue is not impacted by the operating segment in which revenue is generated.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.