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
Equipment, Office Facilities, and Property
- Equipment, Office Facilities, and Property
Equipment, office facilities, and property are detailed below:
| December 31, | 2024 | 2023 |
|---|---|---|
| Software | $3,718 | $3,375 |
| Buildings | 1,801 | 1,720 |
| Information technology and telecommunications equipment | 1,086 | 1,133 |
| Leasehold improvements | 411 | 411 |
| Land | 235 | 214 |
| Construction in progress | 205 | 213 |
| Other | 341 | 380 |
| Total equipment, office facilities, and property | 7,797 | 7,446 |
| Accumulated depreciation and amortization | (4,459) | (3,756) |
| Total equipment, office facilities, and property — net | $3,338 | $3,690 |
As a result of its Ameritrade integration and restructuring efforts, the Company recognized impairment losses on fixed assets of $47 million during the year ended December 31, 2023. These losses are included inother expense on the consolidated statements of income. For the purpose of measuring impairment loss, the fair value of the asset group was determined using a discounted cash flow analysis. The fair value of the asset group was not material at December 31, 2023. See Note 16 for additional information regarding the Company’s exit costs related to its Ameritrade integration and restructuring activities.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.