Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

Schwab’s two reportable segments are Investor Services and Advisor Services. Schwab structures the operating segments according to its clients and the services provided to those clients. The Investor Services segment provides retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees. The Advisor Services segment provides custodial, trading, banking, and support services, as well as retirement business services, to independent RIAs, independent retirement advisors, and recordkeepers. Revenues and expenses are attributed to the two segments based on which segment services the client.

Management evaluates the performance of the segments on a pre-tax basis. Segment assets and liabilities are not used for evaluating segment performance or in deciding how to allocate resources to segments. There are no revenues from transactions between the segments.

Financial information for the segments is presented in the following table:

	Investor Services				Advisor Services				Total
Three Months Ended September 30,	2021		2020		2021		2020		2021		2020
Net Revenues
Net interest revenue	$	1,530	$	948	$	500	$	395	$	2,030	$	1,343
Asset management and administration fees	805		643		296		217		1,101		860
Trading revenue	873		139		91		42		964		181
Bank deposit account fees	239		—		84		—		323		—
Other	114		51		38		13		152		64
Total net revenues	3,561		1,781		1,009		667		4,570		2,448
Expenses Excluding Interest	1,956		1,167		603		392		2,559		1,559
Income before taxes on income	$	1,605	$	614	$	406	$	275	$	2,011	$	889

	Investor Services				Advisor Services				Total
Nine Months Ended September 30,	2021		2020		2021		2020		2021		2020
Net Revenues
Net interest revenue	$	4,462	$	3,028	$	1,426	$	1,276	$	5,888	$	4,304
Asset management and administration fees	2,316		1,826		848		662		3,164		2,488
Trading revenue	2,831		396		304		166		3,135		562
Bank deposit account fees	742		—		269		—		1,011		—
Other	462		122		152		39		614		161
Total net revenues	10,813		5,372		2,999		2,143		13,812		7,515
Expenses Excluding Interest	6,253		3,489		1,869		1,202		8,122		4,691
Income before taxes on income	$	4,560	$	1,883	$	1,130	$	941	$	5,690	$	2,824