Segment Information

9 Months Ended

Sep. 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 September 30,	2023		2022		2023		2022		2023		2022
Net Revenues
Net interest revenue	$	1,710	$	2,143	$	527	$	783	$	2,237	$	2,926
Asset management and administration fees	877		755		347		292		1,224		1,047
Trading revenue	672		800		96		130		768		930
Bank deposit account fees	157		263		48		150		205		413
Other	144		151		28		33		172		184
Total net revenues	3,560		4,112		1,046		1,388		4,606		5,500
Expenses Excluding Interest	2,356		2,117		867		706		3,223		2,823
Income before taxes on income	$	1,204	$	1,995	$	179	$	682	$	1,383	$	2,677

	Investor Services				Advisor Services				Total
Nine Months Ended September 30,	2023		2022		2023		2022		2023		2022
Net Revenues
Net interest revenue	$	5,448	$	5,551	$	1,849	$	2,102	$	7,297	$	7,653
Asset management and administration fees	2,523		2,299		992		868		3,515		3,167
Trading revenue	2,148		2,407		315		371		2,463		2,778
Bank deposit account fees	396		690		135		369		531		1,059
Other	451		465		121		143		572		608
Total net revenues	10,966		11,412		3,412		3,853		14,378		15,265
Expenses Excluding Interest	6,780		6,359		2,414		2,116		9,194		8,475
Income before taxes on income	$	4,186	$	5,053	$	998	$	1,737	$	5,184	$	6,790