Fair Values of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for assets measured at fair value on a recurring basis. Liabilities recorded at fair value were not material, and therefore are not included in the following tables:



September 30, 2017	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at Fair Value
Cash equivalents:
Money market funds	$	1,720	$	—	$	—	$	1,720
Commercial paper	—		115		—		115
Total cash equivalents	1,720		115		—		1,835
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		1,200		—		1,200
U.S. Government securities	—		3,814		—		3,814
Total investments segregated and on deposit for regulatory purposes	—		5,014		—		5,014
Other securities owned:
Equity and bond mutual funds	294		—		—		294
Schwab Funds^®money market funds	68		—		—		68
State and municipal debt obligations	—		35		—		35
Equity, U.S. Government and corporate debt, and other securities	4		26		—		30
Total other securities owned	366		61		—		427
Available for sale securities:
U.S. agency mortgage-backed securities	—		19,746		—		19,746
Asset-backed securities	—		9,996		—		9,996
Corporate debt securities	—		6,468		—		6,468
U.S. Treasury securities	—		7,699		—		7,699
Certificates of deposit	—		1,843		—		1,843
U.S. agency notes	—		1,907		—		1,907
Commercial paper	—		312		—		312
Non-agency commercial mortgage-backed securities	—		41		—		41
Foreign government agency securities	—		50		—		50
Total available for sale securities	—		48,062		—		48,062
Total	$	2,086	$	53,252	$	—	$	55,338



December 31, 2016	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at Fair Value
Cash equivalents:
Money market funds	$	1,514	$	—	$	—	$	1,514
Total cash equivalents	1,514		—		—		1,514
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		2,525		—		2,525
U.S. Government securities	—		6,111		—		6,111
Total investments segregated and on deposit for regulatory purposes	—		8,636		—		8,636
Other securities owned:
Equity and bond mutual funds	272		—		—		272
Schwab Funds^®money market funds	108		—		—		108
State and municipal debt obligations	—		41		—		41
Equity, U.S. Government and corporate debt, and other securities	2		26		—		28
Total other securities owned	382		67		—		449
Available for sale securities:
U.S. agency mortgage-backed securities	—		33,195		—		33,195
Asset-backed securities	—		20,335		—		20,335
Corporate debt securities	—		9,852		—		9,852
U.S. Treasury securities	—		8,623		—		8,623
Certificates of deposit	—		2,071		—		2,071
U.S. agency notes	—		1,907		—		1,907
U.S. state and municipal securities	—		1,123		—		1,123
Commercial paper	—		214		—		214
Non-agency commercial mortgage-backed securities	—		45		—		45
Total available for sale securities	—		77,365		—		77,365
Total	$	1,896	$	86,068	$	—	$	87,964

Fair Value of Other Financial Instruments

The following tables present the fair value hierarchy for other financial instruments:



September 30, 2017	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at Fair Value
Assets:
Cash and cash equivalents	$	10,418	$	—	$	10,418	$	—	$	10,418
Cash and investments segregated and on deposit for regulatory purposes	10,916		—		10,916		—		10,916
Receivables from brokers, dealers, and clearing organizations	665		—		665		—		665
Receivables from brokerage clients – net	18,456		—		18,456		—		18,456
Held to maturity securities:
U.S. agency mortgage-backed securities	96,045		—		95,816		—		95,816
Non-agency commercial mortgage-backed securities	995		—		1,006		—		1,006
Asset-backed securities	12,237		—		12,336		—		12,336
Corporate debt securities	3,377		—		3,403		—		3,403
U.S. Treasury securities	223		—		222		—		222
U.S. state and municipal securities	1,249		—		1,299		—		1,299
Certificates of deposit	200		—		200		—		200
Foreign government agency securities	50		—		50		—		50
Total held to maturity securities	114,376		—		114,332		—		114,332
Bank loans – net:
Residential real estate mortgages	9,786		—		9,771		—		9,771
Home equity loans and lines of credit	2,034		—		2,127		—		2,127
Pledged asset lines	4,279		—		4,279		—		4,279
Other	133		—		133		—		133
Total bank loans – net	16,232		—		16,310		—		16,310
Other assets	465		—		465		—		465
Total	$	171,528	$	—	$	171,562	$	—	$	171,562
Liabilities:
Bank deposits	$	165,263	$	—	$	165,263	$	—	$	165,263
Payables to brokers, dealers, and clearing organizations	5,427		—		5,427		—		5,427
Payables to brokerage clients	31,480		—		31,480		—		31,480
Accrued expenses and other liabilities	1,067		—		1,067		—		1,067
Short-term borrowings	5,000		—		5,000		—		5,000
Long-term debt	3,268		—		3,347		—		3,347
Total	$	211,505	$	—	$	211,584	$	—	$	211,584



December 31, 2016	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at Fair Value
Assets:
Cash and cash equivalents	$	9,314	$	—	$	9,314	$	—	$	9,314
Cash and investments segregated and on deposit for regulatory purposes	13,533		—		13,533		—		13,533
Receivables from brokers, dealers, and clearing organizations	728		—		728		—		728
Receivables from brokerage clients – net	17,151		—		17,151		—		17,151
Held to maturity securities:
U.S. agency mortgage-backed securities	72,439		—		71,677		—		71,677
Non-agency commercial mortgage-backed securities	997		—		1,004		—		1,004
Asset-backed securities	941		—		941		—		941
Corporate debt securities	436		—		436		—		436
U.S. Treasury securities	223		—		219		—		219
Commercial paper	99		—		99		—		99
U.S. state and municipal securities	68		—		68		—		68
Total held to maturity securities	75,203		—		74,444		—		74,444
Bank loans – net:
Residential real estate mortgages	9,117		—		9,064		—		9,064
Home equity loans and lines of credit	2,342		—		2,458		—		2,458
Pledged asset lines	3,851		—		3,851		—		3,851
Other	93		—		94		—		94
Total bank loans – net	15,403		—		15,467		—		15,467
Other assets	328		—		328		—		328
Total	$	131,660	$	—	$	130,965	$	—	$	130,965
Liabilities:
Bank deposits	$	163,454	$	—	$	163,454	$	—	$	163,454
Payables to brokers, dealers, and clearing organizations	2,407		—		2,407		—		2,407
Payables to brokerage clients	35,894		—		35,894		—		35,894
Accrued expenses and other liabilities	1,169		—		1,169		—		1,169
Long-term debt	2,876		—		2,941		—		2,941
Total	$	205,800	$	—	$	205,865	$	—	$	205,865