Fair Values of Assets and Liabilities

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Values of Assets and Liabilities

Fair Values of Assets and Liabilities

For a description of the fair value hierarchy and Schwab’s fair value methodologies, including the use of independent third-party pricing services, see Note 2. The Company did not adjust prices received from the primary independent third-party pricing service at December 31, 2021 or 2020.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis:

December 31, 2021	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	11,719	$	—	$	—	$	11,719
Total cash equivalents	11,719		—		—		11,719
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		350		—		350
U.S. Government securities	—		36,349		—		36,349
Total investments segregated and on deposit for regulatory purposes	—		36,699		—		36,699
Available for sale securities:
U.S. agency mortgage-backed securities	—		334,355		—		334,355
U.S. Treasury securities	—		21,282		—		21,282
Asset-backed securities	—		17,546		—		17,546
Corporate debt securities	—		12,344		—		12,344
U.S. state and municipal securities	—		1,687		—		1,687
Non-agency commercial mortgage-backed securities	—		1,190		—		1,190
Certificates of deposit	—		999		—		999
Foreign government agency securities	—		425		—		425
Commercial paper	—		200		—		200
Other	—		26		—		26
Total available for sale securities	—		390,054		—		390,054
Other assets:
Equity, corporate debt, and other securities	854		59		—		913
Mutual funds and ETFs	636		—		—		636
State and municipal debt obligations	—		32		—		32
U.S. Government securities	—		3		—		3
Total other assets	1,490		94		—		1,584
Total assets	$	13,209	$	426,847	$	—	$	440,056
Accrued expenses and other liabilities	$	1,354	$	45	$	—	$	1,399
Total liabilities	$	1,354	$	45	$	—	$	1,399

December 31, 2020	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	11,159	$	—	$	—	$	11,159
Total cash equivalents	11,159		—		—		11,159
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		550		—		550
U.S. Government securities	—		30,698		—		30,698
Total investments segregated and on deposit for regulatory purposes	—		31,248		—		31,248
Available for sale securities:
U.S. agency mortgage-backed securities	—		290,353		—		290,353
Asset-backed securities	—		18,898		—		18,898
Corporate debt securities	—		12,796		—		12,796
U.S. Treasury securities	—		10,656		—		10,656
U.S. state and municipal securities	—		1,697		—		1,697
Foreign government agency securities	—		1,413		—		1,413
Non-agency commercial mortgage-backed securities	—		1,265		—		1,265
Certificates of deposit	—		300		—		300
Other	—		22		—		22
Total available for sale securities	—		337,400		—		337,400
Other assets:
Mutual funds and ETFs	361		—		—		361
U.S. Government securities	—		253		—		253
State and municipal debt obligations	—		37		—		37
Equity, corporate debt, and other securities	7		29		—		36
Total other assets	368		319		—		687
Total	$	11,527	$	368,967	$	—	$	380,494

Fair Value of Other Financial Instruments

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

December 31, 2021	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	51,256	$	51,256	$	—	$	—	$	51,256
Cash and investments segregated and on deposit for regulatory purposes	17,246		4,151		13,095		—		17,246
Receivables from brokerage clients — net	90,560		—		90,560		—		90,560
Bank loans — net:
First Mortgages	21,077		—		21,027		—		21,027
HELOCs	646		—		668		—		668
Pledged asset lines	12,709		—		12,709		—		12,709
Other	204		—		204		—		204
Total bank loans — net	34,636		—		34,608		—		34,608
Other assets	3,561		—		3,561		—		3,561
Liabilities
Bank deposits	$	443,778	$	—	$	443,778	$	—	$	443,778
Payables to brokerage clients	125,671		—		125,671		—		125,671
Accrued expenses and other liabilities	8,327		—		8,327		—		8,327
Short-term borrowings	4,855		—		4,855		—		4,855
Long-term debt	18,820		—		19,383		—		19,383

December 31, 2020	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	29,189	$	29,189	$	—	$	—	$	29,189
Cash and investments segregated and on deposit for regulatory purposes	19,143		4,212		14,931		—		19,143
Receivables from brokerage clients — net	64,436		—		64,436		—		64,436
Bank loans — net:
First Mortgages	14,882		—		15,305		—		15,305
HELOCs	837		—		838		—		838
Pledged asset lines	7,916		—		7,916		—		7,916
Other	178		—		178		—		178
Total bank loans — net	23,813		—		24,237		—		24,237
Other assets	2,883		—		2,883		—		2,883
Liabilities
Bank deposits	$	358,022	$	—	$	358,022	$	—	$	358,022
Payables to brokerage clients	104,201		—		104,201		—		104,201
Accrued expenses and other liabilities	8,263		—		8,263		—		8,263
Long-term debt	13,626		—		14,829		—		14,829