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The Charles Schwab Corporation - Parent Company Only Financial Statements
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
The Charles Schwab Corporation - Parent Company Only Financial Statements
The Charles Schwab Corporation – Parent Company Only Financial Statements

Condensed Statements of Income
Year Ended December 31,
2017

2016

2015
Interest revenue
$
33


$
22


$
12

Interest expense
(114
)

(100
)

(86
)
Net interest expense
(81
)

(78
)

(74
)
Other
3


1


4

Expenses excluding interest
(32
)

(21
)

(27
)
Loss before income tax benefit and equity in net income of subsidiaries
(110
)

(98
)

(97
)
Income tax benefit
27


34


41

Loss before equity in net income of subsidiaries
(83
)

(64
)

(56
)
Equity in net income of subsidiaries:
 
 
 
 
 
Equity in undistributed net income of subsidiaries
1,479


1,690


1,287

Dividends from bank subsidiary
625


—


—

Dividends from non-bank subsidiaries
333


263


216

Net Income
2,354


1,889


1,447

Preferred stock dividends and other (1)
174


143


83

Net Income Available to Common Stockholders
$
2,180


$
1,746


$
1,364

(1) Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units.
 
Condensed Balance Sheets
December 31,
2017
 
2016
Assets
 
 
 
Cash and cash equivalents
$
2,825

 
$
1,189

Receivables from subsidiaries
571

 
503

Available for sale securities
573

 
569

Held to maturity securities
223

 
223

Other securities owned — at fair value
76

 
75

Loans to non-bank subsidiaries
448

 
—

Investment in non-bank subsidiaries
5,393

 
5,044

Investment in bank subsidiary
13,224

 
11,726

Other assets
160

 
124

Total assets
$
23,493

 
$
19,453

Liabilities and Stockholders’ Equity
 
 
 
Accrued expenses and other liabilities
$
276

 
$
219

Payables to subsidiaries
—

 
6

Long-term debt
4,692

 
2,807

Total liabilities
4,968

 
3,032

Stockholders’ equity
18,525

 
16,421

Total liabilities and stockholders’ equity
$
23,493

 
$
19,453


Condensed Statements of Cash Flows 
Year Ended December 31,
2017
 
2016
 
2015
Cash Flows from Operating Activities
 
 
 
 
 
Net income
$
2,354

 
$
1,889

 
$
1,447

Adjustments to reconcile net income to net cash provided by
 
 
 
 
 
operating activities:
 
 
 
 
 
Equity in undistributed earnings of subsidiaries
(1,479
)
 
(1,690
)
 
(1,287
)
Other
5

 
(37
)
 
(31
)
Net change in:
 
 
 
 
 
Other securities owned
(1
)
 
(10
)
 
9

Other assets
(26
)
 
(27
)
 
(32
)
Accrued expenses and other liabilities
44

 
30

 
4

Net cash provided by (used for) operating activities
897

 
155

 
110

Cash Flows from Investing Activities
 
 
 
 
 
Due from (to) subsidiaries — net
(374
)
 
95

 
93

Increase in investments in subsidiaries
(342
)
 
(1,547
)
 
(611
)
Repayments (Advances) of subordinated loan to CS&Co
—

 
465

 
(150
)
Purchases of available for sale securities
(201
)
 
(2
)
 
(842
)
Proceeds from sales of available for sale securities
197

 
2

 
200

Principal payments on available for sale securities
—

 
—

 
75

Purchases of held to maturity securities
—

 
—

 
(223
)
Other investing activities
(6
)
 
(4
)
 
—

Net cash provided by (used for) investing activities
(726
)
 
(991
)
 
(1,458
)
Cash Flows from Financing Activities
 
 
 
 
 
Issuance of long-term debt
2,129

 
—

 
1,346

Repayment of long-term debt
(250
)
 
—

 
(350
)
Net proceeds from preferred stock offerings
492

 
1,316

 
581

Redemption of preferred stock
(485
)
 
—

 
—

Dividends paid
(592
)
 
(486
)
 
(387
)
Proceeds from stock options exercised and other
171

 
144

 
90

Other financing activities
—

 
44

 
32

Net cash provided by (used for) financing activities
1,465

 
1,018

 
1,312

Increase (Decrease) in Cash and Cash Equivalents
1,636

 
182

 
(36
)
Cash and Cash Equivalents at Beginning of Year
1,189

 
1,007

 
1,043

Cash and Cash Equivalents at End of Year
$
2,825

 
$
1,189

 
$
1,007