Fair Values of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

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:



December 31, 2019	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	5,179	$	—	$	—	$	5,179
Commercial paper	—		2,498		—		2,498
Total cash equivalents	5,179		2,498		—		7,677
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		1,351		—		1,351
U.S. Government securities	—		7,276		—		7,276
Total investments segregated and on deposit for regulatory purposes	—		8,627		—		8,627
Available for sale securities:
U.S. agency mortgage-backed securities	—		46,155		—		46,155
Corporate debt securities	—		5,484		—		5,484
Asset-backed securities	—		4,987		—		4,987
U.S. Treasury securities	—		3,384		—		3,384
Certificates of deposit	—		1,004		—		1,004
Commercial paper	—		395		—		395
Non-agency commercial mortgage-backed securities	—		13		—		13
Total available for sale securities	—		61,422		—		61,422
Other assets:
Equity and bond mutual funds	442		—		—		442
U.S. Government securities	—		202		—		202
State and municipal debt obligations	—		47		—		47
Equity, corporate debt, and other securities	5		22		—		27
Total other assets	447		271		—		718
Total	$	5,626	$	72,818	$	—	$	78,444



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
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
Other assets:
Equity and bond mutual funds	441		—		—		441
U.S. Government securities	—		1		—		1
State and municipal debt obligations	—		39		—		39
Equity, corporate debt, and other securities	3		29		—		32
Schwab Funds^® money market funds	26		—		—		26
Total other assets	470		69		—		539
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:



December 31, 2019	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	21,668	$	21,668	$	—	$	—	$	21,668
Cash and investments segregated and on deposit for regulatory purposes	11,807		2,792		9,015		—		11,807
Receivables from brokerage clients — net	21,763		—		21,763		—		21,763
Held to maturity securities:
U.S. agency mortgage-backed securities	109,325		—		110,566		—		110,566
Asset-backed securities	17,806		—		17,771		—		17,771
Corporate debt securities	4,661		—		4,718		—		4,718
U.S. state and municipal securities	1,301		—		1,404		—		1,404
Non-agency commercial mortgage-backed securities	1,119		—		1,141		—		1,141
U.S. Treasury securities	223		—		228		—		228
Certificates of deposit	200		—		200		—		200
Foreign government agency securities	50		—		50		—		50
Other	21		—		21		—		21
Total held to maturity securities	134,706		—		136,099		—		136,099
Bank loans — net:
First Mortgages	11,693		—		11,639		—		11,639
HELOCs	1,113		—		1,153		—		1,153
Pledged asset lines	5,206		—		5,206		—		5,206
Other	200		—		200		—		200
Total bank loans — net	18,212		—		18,198		—		18,198
Other assets	1,014		—		1,014		—		1,014
Liabilities
Bank deposits	$	220,094	$	—	$	220,094	$	—	$	220,094
Payables to brokerage clients	39,220		—		39,220		—		39,220
Accrued expenses and other liabilities	1,882		—		1,882		—		1,882
Long-term debt	7,430		—		7,775		—		7,775



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 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	1,013		—		1,013		—		1,013
Liabilities
Bank deposits	$	231,423	$	—	$	231,423	$	—	$	231,423
Payables to brokerage clients	32,726		—		32,726		—		32,726
Accrued expenses and other liabilities	3,201		—		3,201		—		3,201
Long-term debt	6,878		—		6,827		—		6,827