SCHWAB CHARLES CORP
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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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.
FY2025 · Filed Feb 25, 2026
SCHW$93.03+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Consolidated Statements of Cash Flows | |||
|---|---|---|---|
| (In Millions) | |||
| Year Ended December 31, | 2025 | 2024 | 2023 |
| Cash Flows from Operating Activities | |||
| Net income | $8,852 | $5,942 | $5,067 |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||
| Share-based compensation | 317 | 337 | 320 |
| Depreciation and amortization | 850 | 916 | 804 |
| Amortization of acquired intangible assets | 512 | 519 | 534 |
| Provision (benefit) for deferred income taxes | 361 | (191) | (478) |
| Premium amortization, net, on available for sale and held to maturity securities | 695 | 806 | 830 |
| Other | 729 | 552 | 702 |
| Net change in: | |||
| Investments segregated and on deposit for regulatory purposes | (4,510) | (14,090) | 23,759 |
| Receivables from brokers, dealers, and clearing organizations | (4,750) | 887 | (451) |
| Receivables from brokerage clients | (19,390) | (16,779) | (2,135) |
| Other assets | (1,298) | 92 | (1,569) |
| Payables to brokers, dealers, and clearing organizations | 12,353 | 6,688 | 1,808 |
| Payables to brokerage clients | 14,782 | 16,773 | (12,652) |
| Accrued expenses and other liabilities | (192) | 218 | 3,048 |
| Net cash provided by (used for) operating activities | 9,311 | 2,670 | 19,587 |
| Cash Flows from Investing Activities | |||
| Purchases of available for sale securities | (8,496) | (2,986) | (1,487) |
| Proceeds from sales of available for sale securities | 8,987 | 3,532 | 8,465 |
| Principal payments on available for sale securities | 22,958 | 25,589 | 36,508 |
| Purchases of held to maturity securities | (1,083) | — | — |
| Principal payments on held to maturity securities | 15,262 | 14,721 | 15,461 |
| Net change in bank loans | (12,807) | (4,787) | 99 |
| Purchases of equipment, office facilities, and property | (548) | (620) | (700) |
| Purchases of FHLB stock | (1,023) | (895) | (1,869) |
| Proceeds from sales of FHLB stock | 1,656 | 1,388 | 1,344 |
| Purchases of Federal Reserve stock | (9) | (189) | (221) |
| Proceeds from sales of Federal Reserve stock | 11 | — | 98 |
| Other investing activities | (370) | (322) | (287) |
| Net cash provided by (used for) investing activities | 24,538 | 35,431 | 57,411 |
| Cash Flows from Financing Activities | |||
| Net change in bank deposits | (3,374) | (30,832) | (76,771) |
| Proceeds from FHLB borrowings | 28,360 | 23,001 | 49,200 |
| Repayments of FHLB borrowings | (43,210) | (32,701) | (35,200) |
| Proceeds from other short-term borrowings | 37,046 | 27,017 | 17,000 |
| Repayments of other short-term borrowings | (36,184) | (27,571) | (15,104) |
| Issuances of long-term debt | 1,986 | — | 6,097 |
| Repayments of long-term debt | (2,248) | (3,682) | (831) |
| Repurchases of common stock and nonvoting common stock | (7,346) | — | (2,842) |
| Redemption and repurchase of preferred stock | (2,458) | — | (467) |
| Dividends paid | (2,329) | (2,275) | (2,276) |
| Proceeds from stock options exercised | 156 | 84 | 49 |
| Other financing activities | (101) | (101) | (100) |
| Net cash provided by (used for) financing activities | (29,702) | (47,060) | (61,245) |
| Increase (Decrease) in Cash and Cash Equivalents, including Amounts Restricted | 4,147 | (8,959) | 15,753 |
| Cash and Cash Equivalents, including Amounts Restricted at Beginning of Year | 65,514 | 74,473 | 58,720 |
| Cash and Cash Equivalents, including Amounts Restricted at End of Year | $69,661 | $65,514 | $74,473 |
Continued on following page.
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| Year Ended December 31, | 2025 | 2024 | 2023 |
|---|---|---|---|
| Supplemental Cash Flow Information | |||
| Non-cash investing activity: | |||
| Changes in accrued equipment, office facilities, and property purchases | $54 | $(13) | $104 |
| Other Supplemental Cash Flow Information | |||
| Cash paid during the year for: | |||
| Interest | $4,557 | $6,655 | $5,623 |
| Amounts included in the measurement of lease liabilities | $246 | $260 | $255 |
| Leased assets obtained in exchange for new operating lease liabilities | $322 | $153 | $118 |
| Leased assets obtained in exchange for new finance lease liabilities | $11 | $— | $48 |
| December 31, | 2025 | 2024 | 2023 |
|---|---|---|---|
| Reconciliation of cash, cash equivalents and amounts reported within the balance sheet (1) | |||
| Cash and cash equivalents | $46,030 | $42,083 | $43,337 |
| Restricted cash and cash equivalents amounts included in cash and investments segregated and on deposit for regulatory purposes | 23,631 | 23,431 | 31,136 |
| Total cash and cash equivalents, including amounts restricted shown in the statement of cash flows | $69,661 | $65,514 | $74,473 |
(1)For more information on the nature of restrictions on restricted cash and cash equivalents, see Note 23.
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