XML 52 R37.htm IDEA: XBRL DOCUMENT v3.22.4
The Charles Schwab Corporation - Parent Company Only Financial Statements
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
The Charles Schwab Corporation - Parent Company Only Financial Statements The Charles Schwab Corporation – Parent Company Only Financial Statements
Condensed Statements of Income
Year Ended December 31,202220212020
Interest revenue$183 $11 $38 
Interest expense(501)(355)(273)
Net interest expense(318)(344)(235)
Trading revenue— — 1 
Other revenue(2)(2)(1)
Expenses Excluding Interest:
Compensation and benefits(73)(87)(62)
Regulatory fees and assessments(21)(20)(14)
Professional services(16)(17)(68)
Other expenses excluding interest(108)(18)(9)
Loss before income tax benefit and equity in net income of subsidiaries(538)(488)(388)
Income tax benefit (expense)32 32 45 
Loss before equity in net income of subsidiaries(506)(456)(343)
Equity in net income of subsidiaries:   
Equity in undistributed net income (distributions in excess of net income) of subsidiaries(2,432)3,361 2,476 
Dividends from bank subsidiaries6,670 — — 
Dividends from non-bank subsidiaries3,451 2,950 1,166 
Net Income7,183 5,855 3,299 
Preferred stock dividends and other (1)
548 495 256 
Net Income Available to Common Stockholders$6,635 $5,360 $3,043 
(1) Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units.

Condensed Balance Sheets
December 31,20222021
Assets  
Cash and cash equivalents$8,800 $6,839 
Receivables from subsidiaries1,266 1,288 
Available for sale securities4,112 4,218 
Investment in non-bank subsidiaries35,025 34,377 
Investment in bank subsidiaries8,245 30,720 
Other assets581 357 
Total assets$58,029 $77,799 
Liabilities and Stockholders’ Equity  
Accrued expenses and other liabilities$584 $618 
Payables to subsidiaries54 80 
Short-term borrowings248 3,005 
Long-term debt20,535 17,835 
Total liabilities21,421 21,538 
Stockholders’ equity36,608 56,261 
Total liabilities and stockholders’ equity$58,029 $77,799 
Condensed Statements of Cash Flows 
Year Ended December 31,202220212020
Cash Flows from Operating Activities   
Net income$7,183 $5,855 $3,299 
Adjustments to reconcile net income to net cash provided by (used for) operating activities:   
Dividends in excess of (equity in undistributed) earnings of subsidiaries2,432 (3,361)(2,476)
Other53 21 41 
Net change in:  
Other assets(230)76 (65)
Accrued expenses and other liabilities(5)112 34 
Net cash provided by (used for) operating activities9,433 2,703 833 
Cash Flows from Investing Activities   
Due from (to) subsidiaries — net333 211 46 
Increase in investments in subsidiaries(2,139)(10,926)(2,172)
Purchases of available for sale securities(5,699)(8,002)(5,397)
Proceeds from sales of available for sale securities2 2 2 
Principal payments on available for sale securities5,803 8,754 2,395 
Other investing activities(25)— — 
Net cash provided by (used for) investing activities(1,725)(9,961)(5,126)
Cash Flows from Financing Activities   
Issuance of long-term debt2,971 7,036 3,070 
Repayment of long-term debt(256)(1,200)(700)
Issuance of commercial paper1,895 8,253 1,234 
Repayments of commercial paper(4,656)(5,250)(1,234)
Repurchases of common stock and nonvoting common stock(3,395)— — 
Net proceeds from preferred stock offerings740 2,806 4,940 
Redemption of preferred stock(1,000)(600)— 
Dividends paid(2,110)(1,822)(1,280)
Proceeds from stock options exercised and other64 220 79 
Other financing activities— — (1)
Net cash provided by (used for) financing activities(5,747)9,443 6,108 
Increase (Decrease) in Cash and Cash Equivalents1,961 2,185 1,815 
Cash and Cash Equivalents at Beginning of Year6,839 4,654 2,839 
Cash and Cash Equivalents at End of Year$8,800 $6,839 $4,654 
Supplemental Cash Flow Information
Non-Cash Investing and Financing Activity
Exchange of TDA Holding-issued senior notes for CSC-issued senior notes$— $1,987 $— 
Common stock repurchased during the period but settled after period end$40 $— $—