Fair Values of Assets and Liabilities (Tables)

9 Months Ended

Sep. 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:



September 30, 2018	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	552	$	—	$	—	$	552
Commercial paper	—		1,988		—		1,988
Total cash equivalents	552		1,988		—		2,540
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		1,950		—		1,950
Total investments segregated and on deposit for regulatory purposes	—		1,950		—		1,950
Other securities owned:
Equity and bond mutual funds	394		—		—		394
Schwab Funds^® money market funds	21		—		—		21
State and municipal debt obligations	—		44		—		44
Equity, U.S. Government and corporate debt, and other securities	3		38		—		41
Total other securities owned	418		82		—		500
Available for sale securities:
U.S. agency mortgage-backed securities	—		23,955		—		23,955
U.S. Treasury securities	—		12,243		—		12,243
Asset-backed securities	—		9,387		—		9,387
Corporate debt securities	—		6,922		—		6,922
Certificates of deposit	—		2,769		—		2,769
U.S. agency notes	—		1,682		—		1,682
Commercial paper	—		518		—		518
Foreign government agency securities	—		48		—		48
Non-agency commercial mortgage-backed securities	—		34		—		34
Total available for sale securities	—		57,558		—		57,558
Total	$	970	$	61,578	$	—	$	62,548



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:



September 30, 2018	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	19,290	$	—	$	19,290	$	—	$	19,290
Cash and investments segregated and on deposit for regulatory purposes	6,526		—		6,526		—		6,526
Receivables from brokers, dealers, and clearing organizations	798		—		798		—		798
Receivables from brokerage clients — net	22,402		—		22,402		—		22,402
Held to maturity securities:
U.S. agency mortgage-backed securities	113,453		—		109,996		—		109,996
Asset-backed securities	17,964		—		18,074		—		18,074
Corporate debt securities	4,578		—		4,531		—		4,531
U.S. state and municipal securities	1,330		—		1,329		—		1,329
Non-agency commercial mortgage-backed securities	1,149		—		1,125		—		1,125
U.S. Treasury securities	223		—		212		—		212
Certificates of deposit	200		—		201		—		201
Foreign government agency securities	50		—		48		—		48
Other	5		—		5		—		5
Total held to maturity securities	138,952		—		135,521		—		135,521
Bank loans — net:
First Mortgages	10,239		—		9,963		—		9,963
HELOCs	1,595		—		1,664		—		1,664
Pledged asset lines	4,556		—		4,556		—		4,556
Other	174		—		174		—		174
Total bank loans — net	16,564		—		16,357		—		16,357
Other assets	463		—		463		—		463
Total	$	204,995	$	—	$	201,357	$	—	$	201,357
Liabilities
Bank deposits	$	213,408	$	—	$	213,408	$	—	$	213,408
Payables to brokers, dealers, and clearing organizations	1,522		—		1,522		—		1,522
Payables to brokerage clients	27,851		—		27,851		—		27,851
Accrued expenses and other liabilities	1,177		—		1,177		—		1,177
Long-term debt	5,790		—		5,687		—		5,687
Total	$	249,748	$	—	$	249,645	$	—	$	249,645



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