Segment Information

6 Months Ended

Jun. 30, 2023

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, investment advisory, and banking and trust 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 trust, 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 June 30,	2023		2022		2023		2022		2023		2022
Net Revenues
Net interest revenue	$	1,705	$	1,834	$	585	$	710	$	2,290	$	2,544
Asset management and administration fees	841		763		332		289		1,173		1,052
Trading revenue	701		763		102		122		803		885
Bank deposit account fees	140		227		35		125		175		352
Other	156		187		59		73		215		260
Total net revenues	3,543		3,774		1,113		1,319		4,656		5,093
Expenses Excluding Interest	2,191		2,111		774		708		2,965		2,819
Income before taxes on income	$	1,352	$	1,663	$	339	$	611	$	1,691	$	2,274

	Investor Services				Advisor Services				Total
Six Months Ended June 30,	2023		2022		2023		2022		2023		2022
Net Revenues
Net interest revenue	$	3,738	$	3,408	$	1,322	$	1,319	$	5,060	$	4,727
Asset management and administration fees	1,646		1,544		645		576		2,291		2,120
Trading revenue	1,476		1,607		219		241		1,695		1,848
Bank deposit account fees	239		427		87		219		326		646
Other	307		314		93		110		400		424
Total net revenues	7,406		7,300		2,366		2,465		9,772		9,765
Expenses Excluding Interest	4,424		4,242		1,547		1,410		5,971		5,652
Income before taxes on income	$	2,982	$	3,058	$	819	$	1,055	$	3,801	$	4,113