Fair Values of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2018

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:



June 30, 2018	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	1,103	$	—	$	—	$	1,103
Commercial paper	—		210		—		210
Total cash equivalents	1,103		210		—		1,313
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		1,999		—		1,999
U.S. Government securities	—		1,532		—		1,532
Total investments segregated and on deposit for regulatory purposes	—		3,531		—		3,531
Other securities owned:
Equity and bond mutual funds	399		—		—		399
Schwab Funds^®money market funds	42		—		—		42
State and municipal debt obligations	—		42		—		42
Equity, U.S. Government and corporate debt, and other securities	3		39		—		42
Total other securities owned	444		81		—		525
Available for sale securities:
U.S. agency mortgage-backed securities	—		22,947		—		22,947
U.S. Treasury securities	—		10,859		—		10,859
Asset-backed securities	—		10,720		—		10,720
Corporate debt securities	—		6,191		—		6,191
Certificates of deposit	—		2,692		—		2,692
U.S. agency notes	—		1,524		—		1,524
Commercial paper	—		505		—		505
Foreign government agency securities	—		48		—		48
Non-agency commercial mortgage-backed securities	—		36		—		36
Total available for sale securities	—		55,522		—		55,522
Total	$	1,547	$	59,344	$	—	$	60,891



December 31, 2017	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	2,727	$	—	$	—	$	2,727
Total cash equivalents	2,727		—		—		2,727
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		2,198		—		2,198
U.S. Government securities	—		3,658		—		3,658
Total investments segregated and on deposit for regulatory purposes	—		5,856		—		5,856
Other securities owned:
Equity and bond mutual funds	318		—		—		318
Schwab Funds^®money market funds	135		—		—		135
State and municipal debt obligations	—		52		—		52
Equity, U.S. Government and corporate debt, and other securities	2		32		—		34
Total other securities owned	455		84		—		539
Available for sale securities:
U.S. agency mortgage-backed securities	—		20,929		—		20,929
U.S. Treasury securities	—		9,500		—		9,500
Asset-backed securities	—		9,047		—		9,047
Corporate debt securities	—		6,169		—		6,169
Certificates of deposit	—		2,041		—		2,041
U.S. agency notes	—		1,906		—		1,906
Commercial paper	—		313		—		313
Foreign government agency securities	—		50		—		50
Non-agency commercial mortgage-backed securities	—		40		—		40
Total available for sale securities	—		49,995		—		49,995
Total	$	3,182	$	55,935	$	—	$	59,117

Fair Value of Other Financial Instruments

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



June 30, 2018	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Cash and cash equivalents	$	11,937	$	—	$	11,937	$	—	$	11,937
Cash and investments segregated and on deposit for regulatory purposes	7,469		—		7,469		—		7,469
Receivables from brokers, dealers, and clearing organizations	1,025		—		1,025		—		1,025
Receivables from brokerage clients — net	22,344		—		22,344		—		22,344
Held to maturity securities:
U.S. agency mortgage-backed securities	113,106		—		110,254		—		110,254
Asset-backed securities	16,356		—		16,471		—		16,471
Corporate debt securities	4,550		—		4,504		—		4,504
U.S. state and municipal securities	1,242		—		1,257		—		1,257
Non-agency commercial mortgage-backed securities	1,065		—		1,044		—		1,044
U.S. Treasury securities	223		—		214		—		214
Certificates of deposit	200		—		200		—		200
Foreign government agency securities	50		—		48		—		48
Total held to maturity securities	136,792		—		133,992		—		133,992
Bank loans — net:
First Mortgages	10,141		—		9,915		—		9,915
HELOCs	1,691		—		1,758		—		1,758
Pledged asset lines	4,570		—		4,570		—		4,570
Other	167		—		167		—		167
Total bank loans — net	16,569		—		16,410		—		16,410
Other assets	441		—		441		—		441
Total	$	196,577	$	—	$	193,618	$	—	$	193,618
Liabilities:
Bank deposits	$	199,922	$	—	$	199,922	$	—	$	199,922
Payables to brokers, dealers, and clearing organizations	3,319		—		3,319		—		3,319
Payables to brokerage clients	30,347		—		30,347		—		30,347
Accrued expenses and other liabilities	1,110		—		1,110		—		1,110
Long-term debt	5,789		—		5,718		—		5,718
Total	$	240,487	$	—	$	240,416	$	—	$	240,416



December 31, 2017	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Cash and cash equivalents	$	11,490	$	—	$	11,490	$	—	$	11,490
Cash and investments segregated and on deposit for regulatory purposes	9,277		—		9,277		—		9,277
Receivables from brokers, dealers, and clearing organizations	649		—		649		—		649
Receivables from brokerage clients — net	20,568		—		20,568		—		20,568
Held to maturity securities:
U.S. agency mortgage-backed securities	101,197		—		100,453		—		100,453
Asset-backed securities	12,937		—		13,062		—		13,062
Corporate debt securities	4,078		—		4,086		—		4,086
U.S. state and municipal securities	1,247		—		1,304		—		1,304
Non-agency commercial mortgage-backed securities	994		—		999		—		999
U.S. Treasury securities	223		—		220		—		220
Certificates of deposit	200		—		200		—		200
Foreign government agency securities	50		—		49		—		49
Total held to maturity securities	120,926		—		120,373		—		120,373
Bank loans — net:
First Mortgages	10,000		—		9,917		—		9,917
HELOCs	1,935		—		2,025		—		2,025
Pledged asset lines	4,369		—		4,369		—		4,369
Other	174		—		174		—		174
Total bank loans — net	16,478		—		16,485		—		16,485
Other assets	781		—		781		—		781
Total	$	180,169	$	—	$	179,623	$	—	$	179,623
Liabilities:
Bank deposits	$	169,656	$	—	$	169,656	$	—	$	169,656
Payables to brokers, dealers, and clearing organizations	1,287		—		1,287		—		1,287
Payables to brokerage clients	31,243		—		31,243		—		31,243
Accrued expenses and other liabilities	1,463		—		1,463		—		1,463
Short-term borrowings	15,000		—		15,000		—		15,000
Long-term debt	4,753		—		4,811		—		4,811
Total	$	223,402	$	—	$	223,460	$	—	$	223,460