Fair Values of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

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:



March 31, 2019	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	650	$	—	$	—	$	650
Commercial paper	—		4,265		—		4,265
Total cash equivalents	650		4,265		—		4,915
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		1,147		—		1,147
U.S. Government securities	—		3,342		—		3,342
Total investments segregated and on deposit for regulatory purposes	—		4,489		—		4,489
Other securities owned:
Equity and bond mutual funds	422		—		—		422
State and municipal debt obligations	—		39		—		39
Equity, U.S. Government and corporate debt, and other securities	3		44		—		47
Schwab Funds^® money market funds	13		—		—		13
Total other securities owned	438		83		—		521
Available for sale securities:
U.S. agency mortgage-backed securities	—		31,092		—		31,092
U.S. Treasury securities	—		10,275		—		10,275
Asset-backed securities	—		8,439		—		8,439
Corporate debt securities	—		6,532		—		6,532
Certificates of deposit	—		3,146		—		3,146
U.S. agency notes	—		249		—		249
Commercial paper	—		209		—		209
Foreign government agency securities	—		50		—		50
Non-agency commercial mortgage-backed securities	—		13		—		13
Total available for sale securities	—		60,005		—		60,005
Total	$	1,088	$	68,842	$	—	$	69,930



December 31, 2018	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	3,429	$	—	$	—	$	3,429
Commercial paper	—		4,863		—		4,863
Total cash equivalents	3,429		4,863		—		8,292
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		1,396		—		1,396
U.S. Government securities	—		3,275		—		3,275
Total investments segregated and on deposit for regulatory purposes	—		4,671		—		4,671
Other securities owned:
Equity and bond mutual funds	441		—		—		441
State and municipal debt obligations	—		39		—		39
Equity, U.S. Government and corporate debt, and other securities	3		30		—		33
Schwab Funds^® money market funds	26		—		—		26
Total other securities owned	470		69		—		539
Available for sale securities:
U.S. agency mortgage-backed securities	—		25,556		—		25,556
U.S. Treasury securities	—		18,302		—		18,302
Asset-backed securities	—		10,085		—		10,085
Corporate debt securities	—		7,467		—		7,467
Certificates of deposit	—		3,685		—		3,685
U.S. agency notes	—		898		—		898
Commercial paper	—		522		—		522
Foreign government agency securities	—		49		—		49
Non-agency commercial mortgage-backed securities	—		14		—		14
Total available for sale securities	—		66,578		—		66,578
Total	$	3,899	$	76,181	$	—	$	80,080

Fair Value of Other Financial Instruments

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



March 31, 2019	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	27,643	$	—	$	27,643	$	—	$	27,643
Cash and investments segregated and on deposit for regulatory purposes	9,421		—		9,421		—		9,421
Receivables from brokers, dealers, and clearing organizations	616		—		616		—		616
Receivables from brokerage clients — net	20,519		—		20,519		—		20,519
Held to maturity securities:
U.S. agency mortgage-backed securities	106,532		—		105,922		—		105,922
Asset-backed securities	18,465		—		18,505		—		18,505
Corporate debt securities	4,479		—		4,477		—		4,477
U.S. state and municipal securities	1,313		—		1,382		—		1,382
Non-agency commercial mortgage-backed securities	1,145		—		1,150		—		1,150
U.S. Treasury securities	223		—		221		—		221
Certificates of deposit	200		—		201		—		201
Foreign government agency securities	50		—		49		—		49
Other	13		—		13		—		13
Total held to maturity securities	132,420		—		131,920		—		131,920
Bank loans — net:
First Mortgages	10,376		—		10,283		—		10,283
HELOCs	1,389		—		1,471		—		1,471
Pledged asset lines	4,576		—		4,576		—		4,576
Other	169		—		169		—		169
Total bank loans — net	16,510		—		16,499		—		16,499
Other assets	535		—		535		—		535
Total	$	207,664	$	—	$	207,153	$	—	$	207,153
Liabilities
Bank deposits	$	219,454	$	—	$	219,454	$	—	$	219,454
Payables to brokers, dealers, and clearing organizations	1,602		—		1,602		—		1,602
Payables to brokerage clients	29,701		—		29,701		—		29,701
Accrued expenses and other liabilities	1,330		—		1,330		—		1,330
Long-term debt	6,829		—		6,959		—		6,959
Total	$	258,916	$	—	$	259,046	$	—	$	259,046



December 31, 2018	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	19,646	$	—	$	19,646	$	—	$	19,646
Cash and investments segregated and on deposit for regulatory purposes	8,886		—		8,886		—		8,886
Receivables from brokers, dealers, and clearing organizations	553		—		553		—		553
Receivables from brokerage clients — net	21,641		—		21,641		—		21,641
Held to maturity securities:
U.S. agency mortgage-backed securities	118,064		—		116,093		—		116,093
Asset-backed securities	18,502		—		18,546		—		18,546
Corporate debt securities	4,477		—		4,432		—		4,432
U.S. state and municipal securities	1,327		—		1,348		—		1,348
Non-agency commercial mortgage-backed securities	1,156		—		1,142		—		1,142
U.S. Treasury securities	223		—		217		—		217
Certificates of deposit	200		—		201		—		201
Foreign government agency securities	50		—		49		—		49
Other	10		—		10		—		10
Total held to maturity securities	144,009		—		142,038		—		142,038
Bank loans — net:
First Mortgages	10,370		—		10,193		—		10,193
HELOCs	1,500		—		1,583		—		1,583
Pledged asset lines	4,561		—		4,561		—		4,561
Other	178		—		178		—		178
Total bank loans — net	16,609		—		16,515		—		16,515
Other assets	460		—		460		—		460
Total	$	211,804	$	—	$	209,739	$	—	$	209,739
Liabilities
Bank deposits	$	231,423	$	—	$	231,423	$	—	$	231,423
Payables to brokers, dealers, and clearing organizations	1,831		—		1,831		—		1,831
Payables to brokerage clients	32,726		—		32,726		—		32,726
Accrued expenses and other liabilities	1,370		—		1,370		—		1,370
Long-term debt	6,878		—		6,827		—		6,827
Total	$	274,228	$	—	$	274,177	$	—	$	274,177