XML 56 R37.htm IDEA: XBRL DOCUMENT v3.24.0.1
The Charles Schwab Corporation - Parent Company Only Financial Statements
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
The Charles Schwab Corporation - Parent Company Only Financial Statements
Condensed Statements of Income
Year Ended December 31,202320222021
Interest revenue$545 $183 $11 
Interest expense(717)(501)(355)
Net interest expense(172)(318)(344)
Other revenue— (2)(2)
Expenses Excluding Interest:
Professional services(21)(16)(17)
Regulatory fees and assessments(16)(21)(20)
Compensation and benefits(8)(73)(87)
Other expenses excluding interest(112)(108)(18)
Loss before income tax benefit and equity in net income of subsidiaries(329)(538)(488)
Income tax benefit (expense)60 32 32 
Loss before equity in net income of subsidiaries(269)(506)(456)
Equity in net income of subsidiaries:   
Equity in undistributed net income (distributions in excess of net income) of subsidiaries1,318 (2,432)3,361 
Dividends from bank subsidiaries— 6,670 — 
Dividends from non-bank subsidiaries4,018 3,451 2,950 
Net Income5,067 7,183 5,855 
Preferred stock dividends and other (1)
418 548 495 
Net Income Available to Common Stockholders$4,649 $6,635 $5,360 
(1) Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units.

Condensed Balance Sheets
December 31,20232022
Assets  
Cash and cash equivalents$11,326 $8,800 
Receivables from subsidiaries1,193 1,266 
Available for sale securities1,979 4,112 
Loans to non-bank subsidiaries613 — 
Investment in non-bank subsidiaries33,485 35,025 
Investment in bank subsidiaries18,324 8,245 
Other assets653 581 
Total assets$67,573 $58,029 
Liabilities and Stockholders’ Equity  
Accrued expenses and other liabilities$727 $584 
Payables to subsidiaries66 54 
Short-term borrowings— 248 
Long-term debt25,822 20,535 
Total liabilities26,615 21,421 
Stockholders’ equity40,958 36,608 
Total liabilities and stockholders’ equity$67,573 $58,029 
Condensed Statements of Cash Flows 
Year Ended December 31,202320222021
Cash Flows from Operating Activities   
Net income$5,067 $7,183 $5,855 
Adjustments to reconcile net income to net cash provided by (used for) operating activities:   
Dividends in excess of (equity in undistributed) earnings of subsidiaries(1,318)2,432 (3,361)
Other(35)53 21 
Net change in:  
Other assets(106)(230)76 
Accrued expenses and other liabilities77 (5)112 
Net cash provided by (used for) operating activities3,685 9,433 2,703 
Cash Flows from Investing Activities   
Due from (to) subsidiaries — net(174)333 211 
Increase in investments in subsidiaries(2,720)(2,139)(10,926)
Purchases of available for sale securities(1,486)(5,699)(8,002)
Proceeds from sales of available for sale securities— 2 2 
Principal payments on available for sale securities3,721 5,803 8,754 
Other investing activities(7)(25)— 
Net cash provided by (used for) investing activities(666)(1,725)(9,961)
Cash Flows from Financing Activities   
Proceeds from short-term borrowings344 1,895 8,253 
Repayments of short-term borrowings(598)(4,656)(5,250)
Issuances of long-term debt6,097 2,971 7,036 
Repayments of long-term debt(800)(256)(1,200)
Repurchases of common stock and nonvoting common stock(2,842)(3,395)— 
Issuance of preferred stock, net— 740 2,806 
Redemption and repurchase of preferred stock(467)(1,000)(600)
Dividends paid(2,276)(2,110)(1,822)
Proceeds from stock options exercised49 64 220 
Net cash provided by (used for) financing activities(493)(5,747)9,443 
Increase (Decrease) in Cash and Cash Equivalents2,526 1,961 2,185 
Cash and Cash Equivalents at Beginning of Year8,800 6,839 4,654 
Cash and Cash Equivalents at End of Year$11,326 $8,800 $6,839 
Supplemental Cash Flow Information
Non-cash investing and financing activity:
Exchange of TDA Holding-issued senior notes for CSC-issued senior notes$— $— $1,987 
Common stock repurchased during the period but settled after period end$— $40 $—