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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

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Contents

Leases

  1. Leases

The following table details the amounts and locations of lease assets and liabilities on the consolidated balance sheets:

December 31, · 2025 · 2024
Balance Sheet Classification
Lease assets:
Operating lease ROU assetsOther assets$705$591
Finance lease ROU assetsEquipment, office facilities, and property — net3547
Lease liabilities:
Operating lease liabilitiesAccrued expenses and other liabilities$903$816
Finance lease liabilitiesLong-term debt3749

The components of lease expense are as follows:

Year Ended December 31,202520242023
Lease Cost
Operating lease cost (1)$215$215$260
Variable lease cost (2)454848

(1)Includes short-term lease cost, which is immaterial.

(2)Includes payments that are entirely variable and amounts that represent the difference between payments based on an index or rate that is reflected in the lease liability and amounts actually incurred.

The Company had immaterial finance lease cost and sublease income for the years ended December 31, 2025, 2024, and 2023.

In addition to the costs noted above and as a result of its Ameritrade integration and restructuring efforts, the Company recognized impairment losses on ROU assets of $157 million for the year ended December 31, 2023. These losses are included in other 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.

The following tables present supplemental operating lease information:

December 31,20252024
Lease Term and Discount Rate
Weighted-average remaining lease term (years)5.625.53
Weighted-average discount rate4.09%3.96%
Annual Maturities of Lease LiabilitiesOperating Leases
2026$224
2027223
2028169
2029107
203082
Thereafter214
Total lease payments (1)1,019
Less: Interest116
Present value of lease liabilities$903

(1)Lease payments exclude $45 million of legally binding minimum lease payments for leases signed, but not yet commenced. These leases will commence beginning in 2026 with lease terms of 7 to 15 years.

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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.