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
Revenue Recognition
- Revenue Recognition
Disaggregated Revenue
Disaggregation of Schwab’s revenue by major source is as follows:
| Year Ended December 31, | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net interest revenue | |||
| Cash and cash equivalents | $1,539 | $1,894 | $812 |
| Cash and investments segregated | 1,443 | 1,355 | 691 |
| Receivables from brokerage clients | 5,420 | 4,793 | 3,321 |
| Available for sale securities | 2,166 | 2,987 | 4,139 |
| Held to maturity securities | 2,636 | 2,872 | 1,688 |
| Bank loans | 1,867 | 1,664 | 1,083 |
| Securities lending revenue | 330 | 419 | 471 |
| Other interest revenue | 136 | 127 | 22 |
| Interest revenue | 15,537 | 16,111 | 12,227 |
| Bank deposits | (3,152) | (3,363) | (723) |
| Payables to brokers, dealers, and clearing organizations (1) | (372) | (147) | (48) |
| Payables to brokerage clients | (272) | (271) | (123) |
| Other short-term borrowings | (504) | (375) | (48) |
| Federal Home Loan Bank borrowings | (1,245) | (1,810) | (106) |
| Long-term debt | (846) | (715) | (498) |
| Other interest expense | (2) | (3) | 1 |
| Interest expense | (6,393) | (6,684) | (1,545) |
| Net interest revenue | 9,144 | 9,427 | 10,682 |
| Asset management and administration fees | |||
| Mutual funds, ETFs, and CTFs | 3,221 | 2,563 | 2,055 |
| Managed investing solutions (2) | 2,129 | 1,868 | 1,854 |
| Other | 366 | 325 | 307 |
| Asset management and administration fees | 5,716 | 4,756 | 4,216 |
| Trading revenue | |||
| Commissions | 1,591 | 1,601 | 1,787 |
| Order flow revenue | 1,477 | 1,404 | 1,738 |
| Principal transactions | 196 | 225 | 148 |
| 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 |
(1)Beginning in 2024, this line item includes interest expense related to securities loaned. Prior period amounts have been reclassified to reflect this change. See Note 1 for additional information.
(2)Managed investing solutions was formerly referred to as “Advice solutions”.
For additional discussion of contract balances, see Note 10. For a summary of revenue provided by our reportable segments, see Note 25. The recognition of revenue is not impacted by the operating segment in which revenue is generated.
- 81 -
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.