SCHWAB CHARLES CORP
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
View on SEC.govAbout 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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
| Consolidated Statements of Income | |||
|---|---|---|---|
| (In Millions, Except Per Share Amounts) | |||
| Year Ended December 31, | 2024 | 2023 | 2022 |
| Net Revenues | |||
| Interest revenue | $15,537 | $16,111 | $12,227 |
| Interest expense | (6,393) | (6,684) | (1,545) |
| Net interest revenue | 9,144 | 9,427 | 10,682 |
| Asset management and administration fees (1) | 5,716 | 4,756 | 4,216 |
| Trading revenue | 3,264 | 3,230 | 3,673 |
| Bank deposit account fees | 729 | 705 | 1,409 |
| Other | 753 | 719 | 782 |
| Total net revenues | 19,606 | 18,837 | 20,762 |
| Expenses Excluding Interest | |||
| Compensation and benefits | 6,043 | 6,315 | 5,936 |
| Professional services | 1,053 | 1,058 | 1,032 |
| Occupancy and equipment | 1,060 | 1,254 | 1,175 |
| Advertising and market development | 397 | 397 | 419 |
| Communications | 591 | 629 | 588 |
| Depreciation and amortization | 916 | 804 | 652 |
| Amortization of acquired intangible assets | 519 | 534 | 596 |
| Regulatory fees and assessments | 398 | 547 | 262 |
| Other | 937 | 921 | 714 |
| Total expenses excluding interest | 11,914 | 12,459 | 11,374 |
| Income before taxes on income | 7,692 | 6,378 | 9,388 |
| Taxes on income | 1,750 | 1,311 | 2,205 |
| Net Income | 5,942 | 5,067 | 7,183 |
| Preferred stock dividends and other | 464 | 418 | 548 |
| Net Income Available to Common Stockholders | $5,478 | $4,649 | $6,635 |
| Weighted-Average Common Shares Outstanding: | |||
| Basic | 1,828 | 1,824 | 1,885 |
| Diluted | 1,834 | 1,831 | 1,894 |
| Earnings Per Common Shares Outstanding (2): | |||
| Basic | $3.00 | $2.55 | $3.52 |
| Diluted | $2.99 | $2.54 | $3.50 |
(1)No fee waivers were recognized for the years ended December 31, 2024 and 2023. Includes fee waivers of $57 million for the year ended December 31, 2022.
(2)The Company has voting and nonvoting common stock outstanding. As the participation rights, including dividend and liquidation rights, are identical between the voting and nonvoting stock classes, basic and diluted earnings per share are the same for each class. See Notes 20 and 26 for additional information.
- 64 -
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.