Company Quick10K Filing
Schwab Charles
Price41.41 EPS3
Shares1,329 P/E15
MCap55,034 P/FCF11
Net Debt-24,803 EBIT5,567
TEV30,231 TEV/EBIT5
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-10
10-Q 2020-03-31 Filed 2020-05-08
10-K 2019-12-31 Filed 2020-02-26
10-Q 2019-09-30 Filed 2019-11-07
10-Q 2019-06-30 Filed 2019-08-07
10-Q 2019-03-31 Filed 2019-05-08
10-K 2018-12-31 Filed 2019-02-22
10-Q 2018-09-30 Filed 2018-11-07
10-Q 2018-06-30 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-09
10-K 2017-12-31 Filed 2018-02-22
10-Q 2017-09-30 Filed 2017-11-07
10-Q 2017-06-30 Filed 2017-08-07
10-Q 2017-03-31 Filed 2017-05-08
10-K 2016-12-31 Filed 2017-02-23
10-Q 2016-09-30 Filed 2016-11-07
10-Q 2016-06-30 Filed 2016-08-05
10-Q 2016-03-31 Filed 2016-05-06
10-K 2015-12-31 Filed 2016-02-24
10-Q 2015-09-30 Filed 2015-11-05
10-Q 2015-06-30 Filed 2015-08-06
10-Q 2015-03-31 Filed 2015-05-07
10-K 2014-12-31 Filed 2015-02-23
10-Q 2014-09-30 Filed 2014-11-06
10-Q 2014-06-30 Filed 2014-08-07
10-Q 2014-03-31 Filed 2014-05-07
10-K 2013-12-31 Filed 2014-02-24
10-Q 2013-09-30 Filed 2013-11-06
10-Q 2013-06-30 Filed 2013-08-06
10-Q 2013-03-31 Filed 2013-05-07
10-K 2012-12-31 Filed 2013-02-22
10-Q 2012-09-30 Filed 2012-11-06
10-Q 2012-06-30 Filed 2012-08-06
10-Q 2012-03-31 Filed 2012-05-07
10-K 2011-12-31 Filed 2012-02-24
10-Q 2011-09-30 Filed 2011-11-07
10-Q 2011-06-30 Filed 2011-08-05
10-Q 2011-03-31 Filed 2011-05-06
10-Q 2010-06-30 Filed 2010-08-05
10-Q 2010-03-31 Filed 2010-05-07
10-K 2009-12-31 Filed 2010-02-25
8-K 2020-07-23 Officers, Exhibits
8-K 2020-07-16 Earnings, Exhibits
8-K 2020-06-04
8-K 2020-06-03
8-K 2020-05-27
8-K 2020-05-26
8-K 2020-05-14
8-K 2020-05-12
8-K 2020-04-30
8-K 2020-04-15
8-K 2020-03-20
8-K 2020-03-20
8-K 2020-01-29
8-K 2020-01-29
8-K 2020-01-16
8-K 2019-11-24
8-K 2019-11-24
8-K 2019-10-15
8-K 2019-08-22
8-K 2019-07-22
8-K 2019-07-16
8-K 2019-05-22
8-K 2019-05-15
8-K 2019-04-15
8-K 2019-01-16
8-K 2018-12-13
8-K 2018-10-31
8-K 2018-10-15
8-K 2018-09-25
8-K 2018-07-17
8-K 2018-05-22
8-K 2018-05-15
8-K 2018-04-16
8-K 2018-03-27
8-K 2018-02-22
8-K 2018-01-25
8-K 2018-01-17

SCHW 10Q Quarterly Report

Part I - Financial Information
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Part I - Financial Information
Item 1. Condensed Consolidated Financial Statements
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-10.411 schw-06302020xex104111.htm
EX-31.1 schw-06302020xex31110q.htm
EX-31.2 schw-06302020xex31210q.htm
EX-32.1 schw-06302020xex32110q.htm
EX-32.2 schw-06302020xex32210q.htm

Schwab Charles Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
3002401801206002012201420172020
Assets, Equity
2.82.21.71.10.60.02012201420172020
Rev, G Profit, Net Income
20136-1-8-152012201420172020
Ops, Inv, Fin

Document
false--12-31Q220200000316709SCHWAB CHARLES CORPP1Y00P10YP3YP3YP5YP5Y0.170.340.180.360.010.0130000000003000000000148754344614875434460.450.00320.04450.03250.032250.02650.03550.030.03450.0320.0320.040.046250.0420.03850.0325000285000000053500000000.010.011761000400000600000750000600050000176100040000060000075000060005000250000.0100201818100199058357 0000316709 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesDPreferredStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesCPreferredStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:CommonStockMember 2020-01-01 2020-06-30 0000316709 2020-07-31 0000316709 2019-01-01 2019-06-30 0000316709 2020-04-01 2020-06-30 0000316709 2019-04-01 2019-06-30 0000316709 schw:TradingRevenueServiceMember 2020-01-01 2020-06-30 0000316709 schw:TradingRevenueServiceMember 2019-01-01 2019-06-30 0000316709 schw:TradingRevenueServiceMember 2020-04-01 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember 2020-04-01 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember 2019-01-01 2019-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember 2019-04-01 2019-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember 2020-01-01 2020-06-30 0000316709 schw:TradingRevenueServiceMember 2019-04-01 2019-06-30 0000316709 2020-06-30 0000316709 2019-12-31 0000316709 us-gaap:TreasuryStockMember 2020-03-31 0000316709 us-gaap:CommonStockMember 2019-06-30 0000316709 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0000316709 us-gaap:TreasuryStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:CommonStockMember 2019-03-31 0000316709 us-gaap:PreferredStockMember 2020-03-31 0000316709 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0000316709 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0000316709 us-gaap:PreferredStockMember 2019-03-31 0000316709 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0000316709 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0000316709 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0000316709 us-gaap:TreasuryStockMember 2020-04-01 2020-06-30 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0000316709 us-gaap:CommonStockMember 2020-06-30 0000316709 us-gaap:PreferredStockMember 2020-06-30 0000316709 us-gaap:PreferredStockMember 2019-06-30 0000316709 us-gaap:PreferredStockMember 2020-04-01 2020-06-30 0000316709 2019-03-31 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0000316709 us-gaap:TreasuryStockMember 2019-06-30 0000316709 us-gaap:TreasuryStockMember 2019-03-31 0000316709 2020-03-31 0000316709 2019-06-30 0000316709 us-gaap:TreasuryStockMember 2020-06-30 0000316709 us-gaap:RetainedEarningsMember 2019-06-30 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0000316709 us-gaap:RetainedEarningsMember 2020-06-30 0000316709 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000316709 us-gaap:CommonStockMember 2020-03-31 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0000316709 us-gaap:RetainedEarningsMember 2020-03-31 0000316709 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0000316709 us-gaap:RetainedEarningsMember 2019-03-31 0000316709 us-gaap:TreasuryStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:RetainedEarningsMember 2018-12-31 0000316709 us-gaap:TreasuryStockMember 2019-01-01 2019-06-30 0000316709 us-gaap:PreferredStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000316709 us-gaap:CommonStockMember 2019-12-31 0000316709 us-gaap:PreferredStockMember 2019-12-31 0000316709 us-gaap:CommonStockMember 2018-12-31 0000316709 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-06-30 0000316709 us-gaap:RetainedEarningsMember 2020-01-01 2020-06-30 0000316709 us-gaap:PreferredStockMember 2018-12-31 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-06-30 0000316709 us-gaap:RetainedEarningsMember 2019-01-01 2019-06-30 0000316709 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000316709 us-gaap:RetainedEarningsMember 2019-12-31 0000316709 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000316709 us-gaap:TreasuryStockMember 2019-12-31 0000316709 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-06-30 0000316709 us-gaap:TreasuryStockMember 2018-12-31 0000316709 2018-12-31 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-06-30 0000316709 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000316709 schw:USAAsInvestmentManagementCompanyMember 2020-05-26 0000316709 schw:USAAsInvestmentManagementCompanyMember 2020-04-01 2020-06-30 0000316709 schw:USAAsInvestmentManagementCompanyMember 2020-01-01 2020-06-30 0000316709 schw:USAAsInvestmentManagementCompanyMember 2019-01-01 2019-12-31 0000316709 schw:USAAsInvestmentManagementCompanyMember schw:BrokerageReferralAgreementsMember 2020-05-26 2020-05-26 0000316709 schw:USAAsInvestmentManagementCompanyMember 2020-05-26 2020-05-26 0000316709 schw:USAAsInvestmentManagementCompanyMember 2019-04-01 2019-06-30 0000316709 schw:USAAsInvestmentManagementCompanyMember 2020-05-26 2020-06-30 0000316709 schw:USAAsInvestmentManagementCompanyMember 2019-01-01 2019-06-30 0000316709 schw:USAAsInvestmentManagementCompanyMember us-gaap:CustomerRelationshipsMember 2020-05-26 2020-05-26 0000316709 schw:USAAsInvestmentManagementCompanyMember us-gaap:RoyaltyAgreementsMember 2020-05-26 2020-05-26 0000316709 schw:PrincipalTransactionsMember 2020-04-01 2020-06-30 0000316709 schw:OrderFlowRevenueMember 2020-01-01 2020-06-30 0000316709 us-gaap:InvestmentPerformanceMember 2019-04-01 2019-06-30 0000316709 us-gaap:FinancialServiceOtherMember 2020-01-01 2020-06-30 0000316709 schw:CommissionsMember 2019-01-01 2019-06-30 0000316709 us-gaap:FinancialServiceOtherMember 2019-01-01 2019-06-30 0000316709 us-gaap:FinancialServiceOtherMember 2020-04-01 2020-06-30 0000316709 schw:CommissionsMember 2020-01-01 2020-06-30 0000316709 us-gaap:InvestmentPerformanceMember 2019-01-01 2019-06-30 0000316709 us-gaap:InvestmentAdviceMember 2019-01-01 2019-06-30 0000316709 schw:CommissionsMember 2019-04-01 2019-06-30 0000316709 schw:PrincipalTransactionsMember 2019-01-01 2019-06-30 0000316709 us-gaap:InvestmentPerformanceMember 2020-01-01 2020-06-30 0000316709 us-gaap:InvestmentAdviceMember 2020-04-01 2020-06-30 0000316709 schw:OrderFlowRevenueMember 2019-04-01 2019-06-30 0000316709 schw:CommissionsMember 2020-04-01 2020-06-30 0000316709 schw:OrderFlowRevenueMember 2020-04-01 2020-06-30 0000316709 us-gaap:FinancialServiceOtherMember 2019-04-01 2019-06-30 0000316709 schw:PrincipalTransactionsMember 2019-04-01 2019-06-30 0000316709 schw:OrderFlowRevenueMember 2019-01-01 2019-06-30 0000316709 us-gaap:InvestmentPerformanceMember 2020-04-01 2020-06-30 0000316709 us-gaap:InvestmentAdviceMember 2020-01-01 2020-06-30 0000316709 schw:PrincipalTransactionsMember 2020-01-01 2020-06-30 0000316709 us-gaap:InvestmentAdviceMember 2019-04-01 2019-06-30 0000316709 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2020-06-30 0000316709 us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:AssetBackedSecuritiesMember 2020-06-30 0000316709 us-gaap:CertificatesOfDepositMember 2020-06-30 0000316709 us-gaap:CommercialPaperMember 2020-06-30 0000316709 us-gaap:ForeignGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:OtherDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:USTreasurySecuritiesMember 2020-06-30 0000316709 us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0000316709 schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2020-06-30 0000316709 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000316709 us-gaap:OtherDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:ForeignGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:CommercialPaperMember 2019-12-31 0000316709 us-gaap:FederalFamilyEducationLoanProgramFfelpGuaranteedLoansMember 2020-06-30 0000316709 us-gaap:CollateralizedCreditCardSecuritiesMember 2019-12-31 0000316709 srt:FederalHomeLoanBankOfSanFranciscoMember 2020-06-30 0000316709 us-gaap:FederalReserveBankAdvancesMember 2020-06-30 0000316709 us-gaap:FederalFamilyEducationLoanProgramFfelpGuaranteedLoansMember 2019-12-31 0000316709 2019-01-01 2019-12-31 0000316709 us-gaap:DepositsMember 2020-06-30 0000316709 2020-01-01 0000316709 us-gaap:CollateralizedCreditCardSecuritiesMember 2020-06-30 0000316709 schw:CorporateDebtSecuritiesIssuedByFinancialServicesIndustryMember 2019-12-31 0000316709 schw:CorporateDebtSecuritiesIssuedByFinancialServicesIndustryMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2019-12-31 0000316709 schw:PledgedAssetLinesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0000316709 schw:PledgedAssetLinesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0000316709 schw:PledgedAssetLinesMember 2020-06-30 0000316709 schw:OtherLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0000316709 schw:OtherLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0000316709 schw:OtherLoansMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 schw:PledgedAssetLinesMember 2019-12-31 0000316709 schw:OtherLoansMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000316709 schw:OtherLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000316709 schw:OtherLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0000316709 schw:OtherLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0000316709 us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0000316709 schw:PledgedAssetLinesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000316709 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000316709 schw:OtherLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000316709 schw:PledgedAssetLinesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000316709 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000316709 us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000316709 schw:PledgedAssetLinesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000316709 schw:PledgedAssetLinesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000316709 us-gaap:HomeEquityMember 2020-01-01 2020-06-30 0000316709 us-gaap:HomeEquityMember 2020-04-01 2020-06-30 0000316709 us-gaap:HomeEquityMember 2019-04-01 2019-06-30 0000316709 us-gaap:HomeEquityMember 2019-01-01 2019-06-30 0000316709 us-gaap:NonperformingFinancingReceivableMember schw:NonaccrualLoansMember 2020-06-30 0000316709 us-gaap:NonperformingFinancingReceivableMember 2019-12-31 0000316709 us-gaap:NonperformingFinancingReceivableMember schw:OtherRealEstateOwnedMember 2020-06-30 0000316709 us-gaap:NonperformingFinancingReceivableMember schw:OtherRealEstateOwnedMember 2019-12-31 0000316709 us-gaap:NonperformingFinancingReceivableMember schw:NonaccrualLoansMember 2019-12-31 0000316709 us-gaap:NonperformingFinancingReceivableMember 2020-06-30 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember schw:OriginationLoanToValueRatioSeventyPercentAndBelowMember 2019-12-31 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreBelowSixHundredTwentyMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember schw:OriginationLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2019-12-31 0000316709 schw:WeightedAverageUpdatedFICOScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioSeventyPercentAndBelowMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSevenHundredFortyAndAboveMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember schw:OriginationLoanToValueRatioSeventyPercentAndBelowMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember schw:OriginationLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioSeventyPercentAndBelowMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember schw:OriginationLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2019-12-31 0000316709 schw:WeightedAverageUpdatedFICOScoreSevenHundredFortyAndAboveMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2019-12-31 0000316709 schw:WightedAverageUpdatedFICOScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioGreaterThanOneHundredPercentMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreBelowSixHundredTwentyMember us-gaap:HomeEquityMember 2019-12-31 0000316709 schw:WeightedAverageUpdatedFICOScoreBelowSixHundredTwentyMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 schw:WeightedAverageUpdatedFICOScoreSevenHundredFortyAndAboveMember us-gaap:HomeEquityMember 2019-12-31 0000316709 schw:WeightedAverageUpdatedFICOScoreBelowSixHundredTwentyMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember schw:OriginationLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2019-12-31 0000316709 schw:WightedAverageUpdatedFICOScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSevenHundredFortyAndAboveMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioGreaterThanOneHundredPercentMember 2019-12-31 0000316709 schw:WeightedAverageUpdatedFICOScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:HomeEquityMember 2019-12-31 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember schw:OtherLoansMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2020-01-01 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2019-01-01 2019-06-30 0000316709 schw:OtherLoansMember 2019-01-01 2019-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2018-12-31 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:ResidentialPortfolioSegmentMember 2019-12-31 0000316709 schw:OtherLoansMember 2020-01-01 2020-06-30 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:ResidentialPortfolioSegmentMember 2018-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2020-01-01 2020-06-30 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2019-01-01 2019-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2019-06-30 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2018-12-31 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2018-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2019-06-30 0000316709 schw:OtherLoansMember 2018-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2019-01-01 2019-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2020-01-01 2020-06-30 0000316709 schw:OtherLoansMember 2019-06-30 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember schw:OtherLoansMember 2018-12-31 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember 2019-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2018-12-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2019-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2018-12-31 0000316709 schw:CumulativeEffectPeriodofAdoptionAdjustmentMember 2018-12-31 0000316709 schw:PledgedAssetLinesMember schw:WeightedAverageLoanToValueRatioEqualToSeventyPercentMember 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2019-04-01 2019-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2019-03-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2020-04-01 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2019-04-01 2019-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2019-04-01 2019-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2019-03-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2020-04-01 2020-06-30 0000316709 schw:OtherLoansMember 2020-04-01 2020-06-30 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:HomeEquityMember 2020-03-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2019-03-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2020-04-01 2020-06-30 0000316709 schw:OtherLoansMember 2019-03-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember 2020-03-31 0000316709 schw:OtherLoansMember 2020-03-31 0000316709 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FirstMortgageMember 2020-03-31 0000316709 schw:OtherLoansMember 2019-04-01 2019-06-30 0000316709 schw:FirstMortgageAndHomeEquityMember 2020-06-30 0000316709 schw:AdjustableRateFirstMortgageMember 2020-06-30 0000316709 schw:AdjustableRateFirstMortgageMember 2020-01-01 2020-06-30 0000316709 us-gaap:HomeEquityMember 2020-06-30 0000316709 schw:FirstMortgageAndHomeEquityMember 2019-12-31 0000316709 schw:HomeEquitySecuredBySecondLiensMember 2020-06-30 0000316709 stpr:CA schw:LoansGeographicAreaMember schw:FirstMortgageAndHomeEquityMember 2020-01-01 2020-06-30 0000316709 schw:PledgedAssetLinesMember schw:WeightedAverageLoanToValueRatioEqualToSeventyPercentMember 2019-12-31 0000316709 schw:WeightedAverageUpdatedFICOScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 schw:WeightedAverageUpdatedFICOScoreSevenHundredFortyAndAboveMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioSeventyPercentAndBelowMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSevenHundredFortyAndAboveMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioGreaterThanOneHundredPercentMember 2020-06-30 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember schw:OriginationLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember schw:OriginationLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember schw:OriginationLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2020-06-30 0000316709 schw:WeightedAverageUpdatedFICOScoreBelowSixHundredTwentyMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:HomeEquityMember schw:OriginationLoanToValueRatioSeventyPercentAndBelowMember 2020-06-30 0000316709 schw:WeightedAverageUpdatedFICOScoreSevenHundredFortyAndAboveMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember schw:OriginationLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSevenHundredFortyAndAboveMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:HomeEquityMember 2020-06-30 0000316709 schw:WightedAverageUpdatedFICOScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioSeventyPercentAndBelowMember 2020-06-30 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioGreaterThanNinetyPercentThroughOneHundredPercentMember 2020-06-30 0000316709 schw:WeightedAverageUpdatedFICOScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreBelowSixHundredTwentyMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FirstMortgageMember schw:EstimatedCurrentLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreBelowSixHundredTwentyMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember us-gaap:FirstMortgageMember schw:OriginationLoanToValueRatioSeventyPercentAndBelowMember 2020-06-30 0000316709 schw:WightedAverageUpdatedFICOScoreSixHundredTwentyThroughSixHundredSeventyNineMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioGreaterThanSeventyPercentThroughNinetyPercentMember 2020-06-30 0000316709 schw:WeightedAverageUpdatedFICOScoreBelowSixHundredTwentyMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FinancialAssetOriginatedMember schw:OriginationFicoScoreSixHundredEightyThroughSevenHundredThirtyNineMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:HomeEquityMember schw:EstimatedCurrentLoanToValueRatioGreaterThanOneHundredPercentMember 2020-06-30 0000316709 stpr:CA schw:LoansGeographicAreaMember schw:FirstMortgageAndHomeEquityMember 2019-01-01 2019-12-31 0000316709 srt:MinimumMember schw:AdjustableRateFirstMortgageMember 2020-01-01 2020-06-30 0000316709 srt:MaximumMember schw:AdjustableRateFirstMortgageMember 2020-01-01 2020-06-30 0000316709 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember schw:LowIncomeHousingTaxCreditInvestmentsMember 2020-06-30 0000316709 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember schw:OtherCommunityReinvestmentActInvestmentsMember 2020-06-30 0000316709 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember schw:OtherCommunityReinvestmentActInvestmentsMember 2019-12-31 0000316709 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2020-06-30 0000316709 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2019-12-31 0000316709 us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember schw:LowIncomeHousingTaxCreditInvestmentsMember 2019-12-31 0000316709 us-gaap:SecuredDebtMember us-gaap:FederalHomeLoanBankAdvancesMember 2020-06-30 0000316709 us-gaap:FederalHomeLoanBankAdvancesMember 2019-12-31 0000316709 us-gaap:FederalHomeLoanBankAdvancesMember 2020-06-30 0000316709 us-gaap:SecuredDebtMember us-gaap:FederalHomeLoanBankAdvancesMember 2019-12-31 0000316709 schw:SeniorNotesDue2020Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2026Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2029Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2022Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDueMay2029Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2028Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDueMay2029Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:FloatingRateSeniorNotesDue2021Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2026Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2024Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2023Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2025Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDueMarch2025Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2021Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDueMay2025Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDueMarch2025Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2024Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2025Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2022Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2027Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2021Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2030Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDue2028Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2030Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2029Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2020Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:FloatingRateSeniorNotesDue2021Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:SeniorNotesDue2027Member us-gaap:SeniorNotesMember 2019-12-31 0000316709 schw:SeniorNotesDueMay2025Member us-gaap:SeniorNotesMember 2020-06-30 0000316709 schw:FloatingRateSeniorNotesDue2021Member us-gaap:SeniorNotesMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-06-30 0000316709 schw:TDAmeritradeMember 2019-11-25 0000316709 us-gaap:FirstMortgageMember 2020-04-01 2020-06-30 0000316709 us-gaap:FirstMortgageMember 2019-04-01 2019-06-30 0000316709 schw:TDAmeritradeMember 2019-11-20 2019-11-20 0000316709 us-gaap:PerformanceGuaranteeMember 2020-06-30 0000316709 schw:TDAmeritradeMember 2020-05-12 0000316709 us-gaap:FirstMortgageMember 2020-01-01 2020-06-30 0000316709 schw:MarginRequirementsMember 2020-06-30 0000316709 us-gaap:FirstMortgageMember 2019-01-01 2019-06-30 0000316709 schw:HomeEquityLoansAndLinesOfCreditPledgedAssetLinesAndOtherLinesOfCreditMember 2019-12-31 0000316709 us-gaap:FirstMortgageMember 2019-01-01 2019-12-31 0000316709 schw:HomeEquityLoansAndLinesOfCreditPledgedAssetLinesAndOtherLinesOfCreditMember 2020-06-30 0000316709 us-gaap:SecuritiesFinancingTransactionFairValueMember 2020-06-30 0000316709 schw:ResaleAndRepurchaseAgreementsMember 2020-06-30 0000316709 schw:ResaleAndRepurchaseAgreementsMember 2019-12-31 0000316709 us-gaap:SecuritiesFinancingTransactionFairValueMember 2019-12-31 0000316709 schw:FullyPaidClientSecuritiesMember 2020-06-30 0000316709 schw:FullyPaidClientSecuritiesMember 2019-12-31 0000316709 schw:FulfillmentofClientShortSalesMember 2020-06-30 0000316709 schw:SecuritiesLendingtoOtherBrokerDealersMember 2019-12-31 0000316709 schw:FulfillmentofClientShortSalesMember 2019-12-31 0000316709 schw:FulfillmentofRequirementswithOptionsClearingCorporationMember 2020-06-30 0000316709 schw:FulfillmentofRequirementswithOptionsClearingCorporationMember 2019-12-31 0000316709 schw:SecuritiesLendingtoOtherBrokerDealersMember 2020-06-30 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherSecuritiesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember schw:PledgedAssetLinesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember schw:OtherLoansMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherSecuritiesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember schw:OtherSecuritiesMember 2019-12-31 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherSecuritiesMember 2019-12-31 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2020-06-30 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2020-06-30 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember schw:PledgedAssetLinesMember 2020-06-30 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2020-06-30 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2020-06-30 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2020-06-30 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:FirstMortgageMember 2020-06-30 0000316709 us-gaap:CarryingReportedAmountFairValueDisclosureMember schw:OtherLoansMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:OtherLoansMember 2020-06-30 0000316709 us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember us-gaap:HomeEquityMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember schw:PledgedAssetLinesMember 2020-06-30 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:EquityCorporateDebtAndOtherSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:StateAndMunicipalDebtObligationsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:EquityAndBondMutualFundsMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000316709 us-gaap:FairValueMeasurementsRecurringMember schw:CommercialMortageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-12-31 0000316709 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000316709 us-gaap:SeriesEPreferredStockMember 2019-01-01 2019-06-30 0000316709 us-gaap:SeriesDPreferredStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:SeriesCPreferredStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:SeriesAPreferredStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:SeriesCPreferredStockMember 2020-04-01 2020-06-30 0000316709 us-gaap:SeriesGPreferredStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:SeriesFPreferredStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesEPreferredStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:SeriesAPreferredStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesFPreferredStockMember 2019-01-01 2019-06-30 0000316709 us-gaap:SeriesFPreferredStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:SeriesGPreferredStockMember 2020-04-01 2020-06-30 0000316709 us-gaap:SeriesGPreferredStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesGPreferredStockMember 2019-01-01 2019-06-30 0000316709 us-gaap:SeriesDPreferredStockMember 2019-01-01 2019-06-30 0000316709 us-gaap:SeriesAPreferredStockMember 2020-04-01 2020-06-30 0000316709 us-gaap:SeriesFPreferredStockMember 2020-04-01 2020-06-30 0000316709 us-gaap:SeriesDPreferredStockMember 2020-04-01 2020-06-30 0000316709 us-gaap:SeriesEPreferredStockMember 2020-04-01 2020-06-30 0000316709 us-gaap:SeriesEPreferredStockMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesAPreferredStockMember 2019-01-01 2019-06-30 0000316709 us-gaap:SeriesCPreferredStockMember 2019-01-01 2019-06-30 0000316709 us-gaap:SeriesDPreferredStockMember 2020-06-30 0000316709 us-gaap:SeriesEPreferredStockMember 2019-12-31 0000316709 us-gaap:SeriesEPreferredStockMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesDPreferredStockMember 2019-12-31 0000316709 us-gaap:SeriesGPreferredStockMember 2019-12-31 0000316709 us-gaap:SeriesAPreferredStockMember 2020-06-30 0000316709 us-gaap:SeriesFPreferredStockMember 2020-06-30 0000316709 us-gaap:SeriesEPreferredStockMember 2020-06-30 0000316709 us-gaap:SeriesFPreferredStockMember 2019-12-31 0000316709 us-gaap:SeriesAPreferredStockMember 2019-12-31 0000316709 us-gaap:SeriesGPreferredStockMember us-gaap:UsTreasuryUstInterestRateMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesCPreferredStockMember 2020-06-30 0000316709 us-gaap:SeriesGPreferredStockMember 2020-06-30 0000316709 us-gaap:SeriesCPreferredStockMember 2019-12-31 0000316709 us-gaap:SeriesFPreferredStockMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-06-30 0000316709 us-gaap:SeriesAPreferredStockMember us-gaap:LondonInterbankOfferedRateLIBORMember 2020-01-01 2020-06-30 0000316709 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0000316709 us-gaap:SeriesGPreferredStockMember 2020-04-30 0000316709 us-gaap:SeriesGPreferredStockMember 2020-04-30 2020-04-30 0000316709 2020-04-30 0000316709 2020-04-30 2020-04-30 0000316709 us-gaap:CommonStockMember 2019-01-30 0000316709 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0000316709 schw:DepositarySharesMember 2020-04-30 2020-04-30 0000316709 schw:OtherReclassificationsIncludedInOtherRevenueMember 2019-01-01 2019-06-30 0000316709 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-01-01 2020-06-30 0000316709 schw:NetUnrealizedGainLossOnSecuritiesTransferredToAvailableForSaleFromHeldToMaturityMember 2019-01-01 2019-06-30 0000316709 schw:AccumulatedAmortizationofHeldtoMaturitySecuritiesTransferedfromAvailableforSaleAttributabletoParentMember 2019-01-01 2019-06-30 0000316709 schw:NetUnrealizedGainLossOnSecuritiesTransferredToAvailableForSaleFromHeldToMaturityMember 2020-01-01 2020-06-30 0000316709 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-06-30 0000316709 schw:OtherAccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-06-30 0000316709 schw:NetUnrealizedGainLossOnSecuritiesTransferredToAvailableForSaleFromHeldToMaturityMember 2019-01-01 2019-03-31 0000316709 schw:OtherAccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0000316709 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-04-01 2019-06-30 0000316709 schw:OtherReclassificationsIncludedInOtherRevenueMember 2019-04-01 2019-06-30 0000316709 schw:AccumulatedAmortizationofHeldtoMaturitySecuritiesTransferedfromAvailableforSaleAttributabletoParentMember 2019-04-01 2019-06-30 0000316709 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-04-01 2020-06-30 0000316709 schw:CharlesSchwabPremierBankMember 2020-06-30 0000316709 schw:TrustBankMember 2020-06-30 0000316709 schw:CharlesSchwabBankMember 2019-12-31 0000316709 schw:CharlesSchwabCorporationMember 2020-06-30 0000316709 schw:CharlesSchwabCorporationMember 2019-12-31 0000316709 schw:CharlesSchwabBankMember 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:InvestorServicesMember 2019-04-01 2019-06-30 0000316709 schw:AdvisorServicesMember 2019-04-01 2019-06-30 0000316709 schw:TradingRevenueServiceMember schw:AdvisorServicesMember 2020-04-01 2020-06-30 0000316709 schw:InvestorServicesMember 2019-04-01 2019-06-30 0000316709 schw:InvestorServicesMember 2020-04-01 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:InvestorServicesMember 2020-04-01 2020-06-30 0000316709 schw:TradingRevenueServiceMember schw:AdvisorServicesMember 2019-04-01 2019-06-30 0000316709 schw:TradingRevenueServiceMember schw:InvestorServicesMember 2020-04-01 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:AdvisorServicesMember 2019-04-01 2019-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:AdvisorServicesMember 2020-04-01 2020-06-30 0000316709 schw:AdvisorServicesMember 2020-04-01 2020-06-30 0000316709 schw:TradingRevenueServiceMember schw:InvestorServicesMember 2019-04-01 2019-06-30 0000316709 schw:InvestorServicesMember 2020-01-01 2020-06-30 0000316709 schw:TradingRevenueServiceMember schw:AdvisorServicesMember 2019-01-01 2019-06-30 0000316709 schw:AdvisorServicesMember 2019-01-01 2019-06-30 0000316709 schw:InvestorServicesMember 2019-01-01 2019-06-30 0000316709 schw:TradingRevenueServiceMember schw:InvestorServicesMember 2020-01-01 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:InvestorServicesMember 2019-01-01 2019-06-30 0000316709 schw:TradingRevenueServiceMember schw:AdvisorServicesMember 2020-01-01 2020-06-30 0000316709 schw:AdvisorServicesMember 2020-01-01 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:InvestorServicesMember 2020-01-01 2020-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:AdvisorServicesMember 2019-01-01 2019-06-30 0000316709 schw:TradingRevenueServiceMember schw:InvestorServicesMember 2019-01-01 2019-06-30 0000316709 schw:AssetManagementAndAdministrationServiceMember schw:AdvisorServicesMember 2020-01-01 2020-06-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares schw:account schw:credit_rating xbrli:pure schw:lawsuit schw:segment


UNITED STATES
SECURITIES  AND  EXCHANGE  COMMISSION
Washington, D.C.  20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________

Commission File Number: 1-9700

THE  CHARLES  SCHWAB  CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
 
94-3025021
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)

211 Main Street, San Francisco, CA  94105
(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code:  (415) 667-7000

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock – $.01 par value per share
SCHW
New York Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 6.00% Non-Cumulative Preferred Stock, Series C
SCHW PrC
New York Stock Exchange
Depositary Shares, each representing a 1/40th ownership interest in a share of 5.95% Non-Cumulative Preferred Stock, Series D
SCHW PrD
New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒  No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ☒   No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☒                        Accelerated filer ☐
Non-accelerated filer☐                        Smaller reporting company         
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
1,288,641,882 shares of $.01 par value Common Stock outstanding on July 31, 2020



THE CHARLES SCHWAB CORPORATION

Quarterly Report on Form 10-Q
For the Quarter Ended June 30, 2020



 Index

 
 
 
 
 
 
 
 
 
 
 
Item 1.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
28-29
 
 
 
30-62
 
 
 
 
 
 
Item 2.
 
1-22
 
 
 
 
 
 
Item 3.
 
 
 
 
 
 
 
Item 4.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Item 1.
 
 
 
 
 
 
 
Item 1A.
 
 
 
 
 
 
 
Item 2.
 
 
 
 
 
 
 
Item 3.
 
 
 
 
 
 
 
Item 4.
 
 
 
 
 
 
 
Item 5.
 
 
 
 
 
 
 
Item 6.
 
66-67
 
 
 
 
 
 
 
 
 






Part I – FINANCIAL INFORMATION

THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)



Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

INTRODUCTION

The Charles Schwab Corporation (CSC) is a savings and loan holding company and engages, through its subsidiaries, in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services.

Principal business subsidiaries of CSC include the following:

Charles Schwab & Co., Inc. (CS&Co), a securities broker-dealer;
Charles Schwab Bank, SSB (CSB), our principal banking entity; and
Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab’s proprietary mutual funds (Schwab Funds®) and for Schwab’s exchange-traded funds (Schwab ETFs™).

Unless otherwise indicated, the terms “Schwab,” “the Company,” “we,” “us,” or “our” mean CSC together with its consolidated subsidiaries.

Schwab provides financial services to individuals and institutional clients through two segments – Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees. The Advisor Services segment provides custodial, trading, banking, and support services, as well as retirement business services, to independent registered investment advisors (RIAs), independent retirement advisors, and recordkeepers.
Schwab was founded on the belief that all Americans deserve access to a better investing experience. Although much has changed in the intervening years, our purpose remains clear – to champion every client’s goals with passion and integrity. Guided by this purpose and our vision of creating the most trusted leader in investment services, management has adopted a strategy described as “Through Clients’ Eyes.”

This strategy emphasizes placing clients’ perspectives, needs, and desires at the forefront. Because investing plays a fundamental role in building financial security, we strive to deliver a better investing experience for our clients – individual investors and the people and institutions who serve them – by disrupting longstanding industry practices on their behalf and providing superior service. We also aim to offer a broad range of products and solutions to meet client needs with a focus on transparency, value, and trust. In addition, management works to couple Schwab’s scale and resources with ongoing expense discipline to keep costs low and ensure that products and solutions are affordable as well as responsive to client needs. In combination, these are the key elements of our “no trade-offs” approach to serving investors. We believe that following this strategy is the best way to maximize our market valuation and stockholder returns over time.

Management estimates that investable wealth in the United States (U.S.) (consisting of assets in defined contribution, retail wealth management and brokerage, and registered investment advisor channels, along with bank deposits) currently exceeds $45 trillion, which means the Company’s $4.11 trillion in client assets leaves substantial opportunity for growth. Our strategy is based on the principle that developing trusted relationships will translate into more assets from both new and existing clients, ultimately driving more revenue, and along with expense discipline and thoughtful capital management, will generate earnings growth and build long-term stockholder value.

This Management’s Discussion and Analysis should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (2019 Form 10-K).

On our website, https://www.aboutschwab.com, we post the following filings after they are electronically filed with or furnished to the Securities and Exchange Commission (SEC): annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934. In addition, the website also includes the Dodd-Frank stress test results, our regulatory capital disclosures based on Basel III, and our quarterly average liquidity coverage ratio (LCR). The SEC maintains a website at https://www.sec.gov that contains reports, proxy statements, and other information that we file electronically with them.

- 1 -


THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)


FORWARD-LOOKING STATEMENTS
In addition to historical information, this Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are identified by words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “will,” “may,” “estimate,” “appear,” “could,” “would,” “expand,” “aim,” “maintain,” and other similar expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.
These forward-looking statements, which reflect management’s beliefs, objectives, and expectations as of the date hereof, are estimates based on the best judgment of Schwab’s senior management. These statements relate to, among other things:
Maximizing our market valuation and stockholder returns over time; our belief that developing trusted relationships will translate into more client assets which drives revenue and, along with expense discipline and thoughtful capital management, generates earnings growth and builds stockholder value (see Introduction in Part I, Item 2);
Impacts related to the coronavirus (COVID-19) pandemic (see Overview);
Pending TD Ameritrade acquisition, including status and anticipated closing; expected benefits from recently completed transactions (see Overview, Capital Management, and Commitments and Contingencies in Part I, Item 1, Financial Information – Notes to Condensed Consolidated Financial Statements (Item 1) – Note 10);
Objective for amount of deposits held in excess reserves at the Federal Reserve (see Results of Operations);
Net interest margin compression and net interest revenue; money market fund fee waivers (see Results of Operations);
2020 capital expenditures (see Results of Operations);
The phase-out of the use of LIBOR (see Risk Management);
Sources of capital; Tier 1 Leverage Ratio operating objective (see Risk Management – Capital Management);
The expected impact of new accounting standards not yet adopted (see Summary of Significant Accounting Policies in Item 1 – Note 2);
Credit quality metrics and performance of the bank loans portfolios (see Bank Loans and Related Allowance for Credit Losses in Item 1 – Note 6);
The likelihood of indemnification and guarantee payment obligations (see Commitments and Contingencies in Item 1 – Note 10); and
The impact of legal proceedings and regulatory matters (see Commitments and Contingencies in Item 1 – Note 10 and Legal Proceedings in Part II, Item 1).

Achievement of the expressed beliefs, objectives, and expectations described in these statements is subject to certain risks and uncertainties that could cause actual results to differ materially from the expressed beliefs, objectives, and expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Quarterly Report on Form 10-Q or, in the case of documents incorporated by reference, as of the date of those documents.

Important factors that may cause actual results to differ include, but are not limited to:
General market conditions, including equity valuations, trading activity, the level of interest rates – which can impact money market fund fee waivers, and credit spreads;
Our ability to attract and retain clients, develop trusted relationships, and grow client assets;
Client use of our advisory solutions and other products and services;
The level of client assets, including cash balances;
Competitive pressure on pricing, including deposit rates;
Client sensitivity to interest rates;
Regulatory guidance;
Capital and liquidity needs and management;
Our ability to manage expenses;
Our ability to develop and launch new and enhanced products, services, and capabilities, as well as enhance our infrastructure, in a timely and successful manner;
Our ability to monetize client assets;
The scope and duration of the COVID-19 pandemic and actions taken by governmental authorities to contain the spread of the virus and the economic impact;
The company’s ability to support client activity levels;
Failure of the parties to satisfy the closing conditions in the agreement for the pending acquisition of TD Ameritrade in a timely manner or at all, including regulatory approvals, and the implementation of integration plans;

- 2 -


THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)


Disruptions to the parties’ businesses as a result of the announcement and pendency of the TD Ameritrade acquisition;
The risk that expected revenue, expense and other synergies and benefits from acquisitions may not be fully realized or may take longer to realize than expected;
Timing and ability to invest amounts held in excess reserves at the Federal Reserve into higher yielding investments in the company’s bank securities portfolio;
Client cash allocations;
LIBOR trends;
The availability and terms of external financing;
The timing of campus expansion work and technology projects;
Adverse developments in litigation or regulatory matters and any related charges; and
Potential breaches of contractual terms for which we have indemnification and guarantee obligations.

Certain of these factors, as well as general risk factors affecting the Company, are discussed in greater detail in Part I – Item 1A – Risk Factors in the 2019 Form 10-K.

- 3 -


THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)


OVERVIEW
Management focuses on several client activity and financial metrics in evaluating Schwab’s financial position and operating performance. Results for the second quarter and first six months of 2020 and 2019 are:
 
Three Months Ended
June 30,
 
Percent
Change
 
Six Months Ended
June 30,
Percent
Change
 
2020
 
2019
 
 
2020
 
2019
Client Metrics
 
 
 
 
 
 
 
 
 
 
Net new client assets (in billions) (1)
$
137.4

 
$
37.2

 
N/M

 
$
210.6

 
$
88.9

137
%
Core net new client assets (in billions)
$
46.6

 
$
37.2

 
25
%
 
$
119.8

 
$
88.9

35
%
Client assets (in billions, at quarter end)
$
4,110.1

 
$
3,702.4

 
11
%
 
 
 
 
 
Average client assets (in billions)
$
3,849.7

 
$
3,631.1

 
6
%
 
$
3,884.2

 
$
3,548.4

9
%
New brokerage accounts (in thousands) (2)
1,652

 
386

 
N/M

 
2,261

 
772

193
%
Active brokerage accounts (in thousands, at quarter end)
14,107

 
11,967

 
18
%
 
 
 
 
 
Assets receiving ongoing advisory services (in billions,
at quarter end)
$
2,092.7

 
$
1,938.2

 
8
%
 
 
 
 
 
Client cash as a percentage of client assets (at quarter end)
13.6
%
 
10.9
%
 
 

 
 
 
 
 
Company Financial Information and Metrics
 

 
 

 
 

 
 
 
 
 
Total net revenues
$
2,450

 
$
2,681

 
(9
)%
 
$
5,067

 
$
5,404

(6
)%
Total expenses excluding interest
1,562

 
1,445

 
8
%
 
3,132

 
2,904

8
%
Income before taxes on income
888

 
1,236

 
(28
)%
 
1,935

 
2,500

(23
)%
Taxes on income
217

 
299

 
(27
)%
 
469

 
599

(22
)%
Net income
671

 
937

 
(28
)%
 
1,466

 
1,901

(23
)%
Preferred stock dividends and other
50

 
50

 

 
88

 
89

(1
)%
Net income available to common stockholders
$
621

 
$
887

 
(30
)%
 
$
1,378

 
$
1,812

(24
)%
Earnings per common share — diluted
$
.48

 
$
.66

 
(27
)%
 
$
1.07

 
$
1.35

(21
)%
Net revenue growth from prior year
(9
)%
 
8
%
 
 

 
(6
)%
 
11
%
 
Pre-tax profit margin
36.2
%
 
46.1
%
 
 

 
38.2
%
 
46.3
%
 
Return on average common stockholders’ equity (annualized)
10
%
 
19
%
 
 

 
12
%
 
20
%
 
Expenses excluding interest as a percentage of average client
assets (annualized)
0.16
%
 
0.16
%
 
 
 
0.16
%
 
0.17
%
 
Consolidated Tier 1 Leverage Ratio (at quarter end)
5.9
%
 
7.3
%
 
 
 
 
 
 
 
Non-GAAP Financial Measures (3)
 
 
 
 
 
 
 
 
 
 
Adjusted total expenses (4)
$
1,469

 
$
1,435

 
 
 
$
2,996

 
$
2,886

 
Adjusted diluted EPS
$
.54

 
$
.67

 
 
 
$
1.14

 
$
1.36

 
Return on tangible common equity
12
%
 
21
%
 
 
 
15
%
 
22
%
 
(1) The second quarter and first six months of 2020 include inflows of $79.9 billion related to the acquisition of the assets of USAA’s Investment Management Company (USAA-IMCO) and $10.9 billion from a mutual fund clearing services client.
(2) The second quarter and first six months of 2020 include 1.1 million new brokerage accounts related to the acquisition of assets from USAA-IMCO.
(3) See Non-GAAP Financial Measures for further details and a reconciliation of such measures to GAAP reported results.
(4) Adjusted total expenses is a non-GAAP financial measure adjusting total expenses excluding interest. See Non-GAAP Financial Measures.
N/M Not meaningful.

During the second quarter and first half of 2020, the ongoing health crisis of the COVID-19 pandemic and its effects continued to dominate the macroeconomic environment, resulting in a contracting U.S. economy, and sustained pressures on interest rates. Throughout this challenging time, the Company continued to operate without significant client disruption, and we continued to move forward on important operating initiatives, including multiple acquisitions. Schwab’s focus on clients remains, even as almost 95% of our employees continued to work remotely throughout the second quarter.

During the second quarter of 2020, we gathered $137.4 billion in net new assets, with core net new assets totaling $46.6 billion before including the effects of the USAA-IMCO acquisition and a large mutual fund clearing inflow. Aided by ongoing client engagement and an extended tax-filing season, our year-to-date core net new assets reached $119.8 billion, representing a 6%

- 4 -


THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)


annualized organic growth rate. Strong client trading activity continued during the second quarter, as daily average trades were 1.6 million in both the second quarter and first half of 2020, up 126% and 112%, respectively, from the same periods in 2019. Active brokerage accounts grew 18% from June 30, 2019 and totaled 14.1 million at June 30, 2020, inclusive of 1.1 million USAA accounts added to our platform upon closing in May of 2020. Growth in equity market valuations during the second quarter, along with our ongoing asset-gathering and approximately $80 billion in client assets transferred from USAA, helped push total client assets to $4.11 trillion at June 30, 2020, up 11% from June 30, 2019.

Schwab’s net income totaled $671 million and $1.5 billion in the second quarter and first half of 2020, respectively, representing decreases of 28% and 23% from the comparable periods in the prior year. Diluted earnings per common share (EPS) in the second quarter and first half of 2020 were $.48 and $1.07, respectively, declining 27% and 21% from the same periods in 2019. Adjusted diluted EPS(1), which excludes acquisition and integration-related costs, amortization of acquired intangible assets, and related income tax effects, were $.54 and $1.14 for the second quarter and first six months of 2020, respectively, down from $.67 and $1.36 from the same periods in the prior year.

Total net revenues were $2.5 billion and $5.1 billion in the second quarter and first half of 2020, declining 9% and 6%, respectively, from the comparable periods in 2019, due primarily to lower net interest revenue. Lower net investment yields driven by the Federal Reserve’s dramatic monetary easing in 2020 outweighed growth in client cash balances held at our bank and broker-dealer subsidiaries, which led to declines in net interest revenue of 14% and 10% in the second quarter and first half of 2020, respectively, compared with the same periods in 2019. Asset management and administration fees grew to $801 million and $1.6 billion for the second quarter and first half of 2020, respectively, representing growth of 2% and 6% relative to the same periods in 2019. These increases were due primarily to clients’ higher balances of money market funds and advice solutions, partially offset by the effect of money market fund fee waivers due to declining portfolio yields, lower Mutual Fund OneSource® balances, and lower equity market valuations in the first quarter and beginning of the second quarter of 2020. Trading revenue declined 7% and 10% during the second quarter and first half of 2020, respectively, compared with the same periods in the prior year, as our October 2019 pricing actions more than offset a significant increase in trading volume in 2020.

Total expenses excluding interest were $1.6 billion and $3.1 billion during the second quarter and first half of 2020, representing increases of 8% for both periods relative to the comparable periods in 2019. Our expenses included acquisition and integration-related costs related to our completed and pending acquisitions discussed below of $81 million and $118 million during the second quarter and first six months of 2020, respectively. Adjusted total expenses(1), which exclude acquisition and integration-related costs as well as amortization of acquired intangible assets, were $1.5 billion and $3.0 billion during the second quarter and first six months of 2020, respectively, representing increases of 2% and 4%, respectively, from the comparable periods in 2019.

During the first six months of 2020, we remained intent on maintaining a balance sheet with healthy liquidity and capital levels. The sharp pandemic-driven increase in client cash during the first quarter of 2020 was followed by more modest balance sheet expansion during the second quarter, and after adding approximately $10 billion of client cash held at our bank and broker-dealer subsidiaries from our acquisition of USAA-IMCO, we ended the second quarter with total assets of $400 billion, up 8% from March 31 and up 36% from December 31, 2019. During the second quarter, we issued $2.5 billion of preferred stock, Series G, at an initial fixed rate of 5.375%, bringing total preferred stock to $5.3 billion, or approximately 24% of Tier 1 Capital at June 30, 2020, and the Company ended the second quarter with a Tier 1 Leverage Ratio of 5.9%.

Return on average common stockholders’ equity was 10% and 12% for the second quarter and first six months of 2020, down from 19% and 20% for the comparable periods in 2019. Return on tangible common equity(1) was 12% and 15% for the second quarter and first six months of 2020, down from 21% and 22% for the comparable periods in 2019. The decreases in both return on average common stockholders’ equity and return on tangible common equity were due primarily to lower net income and an increase in average accumulated other comprehensive income (AOCI) due to unrealized gains in our available for sale (AFS) investment securities portfolio. Return on tangible common equity represents annualized adjusted net income available to common stockholders(1) as a percentage of average tangible common equity(1). Adjusted net income available to common stockholders excludes acquisition and integration-related costs, amortization of acquired intangible assets, and related income tax effects. Tangible common equity excludes goodwill, acquired intangible assets, and related deferred tax liabilities.

(1) Adjusted diluted EPS, adjusted total expenses, adjusted net income available to common stockholders, and return on tangible common equity are non-GAAP financial measures. Please see Non-GAAP Financial Measures for further details and a reconciliation of such measures to GAAP reported results.

- 5 -


THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)



Business and Asset Acquisitions

During the second quarter of 2020 we made significant progress towards closing our pending acquisition of TD Ameritrade, with the completion of the Department of Justice antitrust review and affirmative votes by both Schwab and TD Ameritrade stockholders. Integration planning efforts are continuing and we remain on track for closing our acquisition of TD Ameritrade during the second half of 2020.

On May 26, 2020, the Company completed its acquisition of the assets of USAA-IMCO for $1.6 billion in cash, subject to post-closing adjustments. Along with the asset purchase agreement, the companies entered into a long-term referral agreement that makes Schwab the exclusive provider of wealth management and investment brokerage services for USAA members. The USAA-IMCO acquisition adds scale to the Company’s operations through the addition of 1.1 million brokerage and managed portfolio accounts with approximately $80 billion in client assets at the acquisition date. The transaction also provides Schwab the opportunity to further expand our client base by serving USAA’s members through the long-term referral agreement. See Item 1 – Note 3 for more information on the USAA-IMCO acquisition.

Additionally, during the second quarter of 2020 the Company completed its acquisition of technology and intellectual property of Motif, a financial technology company. The Motif assets will help us build on our existing capabilities and help accelerate our development of thematic and direct index investing for Schwab’s retail investors and RIA clients. On July 1, 2020, the Company completed its acquisition of Wasmer, Schroeder & Company, LLC, which will add established strategies and new separately managed account offerings to our existing fixed income lineup.

Current Regulatory Environment and Other Developments

Effective March 20, 2020, CSB and Charles Schwab Premier Bank, SSB (CSPB) converted to Texas-chartered state savings banks. CSB and CSPB became members of the Federal Reserve and are subject to regulation, supervision and examination by the Federal Reserve and the Texas Department of Savings and Mortgage Lending.



- 6 -


THE CHARLES SCHWAB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Millions, Except Ratios, or as Noted)


RESULTS OF OPERATIONS

Total Net Revenues

The following tables present a comparison of revenue by category:
 
 
 
2020
 
2019
Three Months Ended June 30,
Percent
Change
 
Amount
 
% of
Total Net
Revenues
 
Amount
 
% of
Total Net
Revenues
Net interest revenue
 
 
 
 
 
 
 
 
 
Interest revenue
(23
)%
 
$
1,486

 
61
%
 
$
1,927

 
72
%
Interest expense
(69
)%
 
(97
)
 
(4
)%
 
(318
)
 
(12
)%
Net interest revenue
(14
)%
 
1,389

 
57
%
 
1,609

 
60
%
Asset management and administration fees
 
 
 
 
 
 
 
 
 
Mutual funds, ETFs, and collective trust funds (CTFs)
(1
)%
 
425

 
17
%
 
428

 
16
%
Advice solutions
6
%
 
314

 
13
%
 
295

 
11
%
Other
(2
)%
 
62

 
3
%
 
63

 
2
%
Asset management and administration fees
2
%
 
801

 
33
%
 
786

 
29
%
Trading revenue
 
 
 
 
 
 
 
 
 
Commissions
(28
)%
 
111

 
5
%
 
155

 
5
%
Principal transactions
(47
)%
 
10

 

 
19

 
1
%
Order flow revenue (1)
118
%
 
72

 
3
%
 
33

 
2
%
Trading revenue (1)
(7
)%
 
193

 
8
%
 
207

 
8
%
Other (1)
(15
)%
 
67

 
2
%
 
79

 
3
%
Total net revenues
(9
)%
 
$
2,450

 
100
%
 
$
2,681

 
100
%

 
 
 
2020
 
2019
Six Months Ended June 30,
Percent
Change
 
Amount
 
% of
Total Net
Revenues
 
Amount
 
% of
Total Net
Revenues
Net interest revenue
 
 
 
 
 
 
 
 
 
Interest revenue
(19
)%
 
$
3,194

 
63
%
 
$
3,925

 
73
%
Interest expense
(63
)%
 
(233
)
 
(5
)%
 
(635
)
 
(12
)%
Net interest revenue
(10
)%
 
2,961

 
58
%
 
3,290

 
61
%
Asset management and administration fees
 
 
 
 
 
 
 
 
 
Mutual funds, ETFs, and collective trust funds (CTFs)
4
%
 
877

 
17
%
 
842

 
16
%
Advice solutions
9
%
 
626

 
12
%
 
573

 
11
%
Other
(1
)%
 
125

 
3
%
 
126

 
2
%
Asset management and administration fees
6
%
 
1,628

 
32
%
 
1,541

 
29
%
Trading revenue