XML 43 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
PAY VERSUS PERFORMANCE
In accordance with SEC rules, the following table sets forth information with respect to how “compe
nsation ac
tually paid” (CAP) for our NEOs aligns with company performance. CAP is an
SEC-defined
term that does not necessarily reflect the amounts realized by the NEOs or how the Compensation Committee evaluates the link between company performance and NEO compensation. In addition, a significant portion of CAP relates to changes in fair value of unvested equity awards over the course of each year. Unvested equity awards remain subject to vesting conditions and possible future declines in value based on changes in the price of our common stock. The ultimate value realized by our NEOs from unvested equity awards will not be determined until the awards vest.
 
    YEAR
1
   
    
SUMMARY   
COMPENSATION   
TABLE TOTAL   
FOR CEO
2
   
($)
    
COMPENSATION   
ACTUALLY PAID   
TO CEO
3
   
($)   
    
AVERAGE   
SUMMARY   
COMPENSATION   
TABLE TOTAL   
FOR OTHER   
NEOS
2
   
($)   
    
AVERAGE   
COMPENSATION   
ACTUALLY PAID TO   
OTHER NEOS
3
   
($)   
    
VALUE OF INITIAL FIXED $100   
INVESTMENT BASED ON:
4
   
    
NET   
INCOME
5
   
($) (IN   
MILLIONS)   
    
ADJUSTED   
DILUTED   
EARNINGS   
PER SHARE
6
   
($)   
  
 
Total   
Shareholder   
Return   
($)   
    
Peer Group   
Total   
Shareholder   
Return   
($)   
  
                 
      2022       24,386,329          57,877,151          8,355,171          18,470,980          182       149       7,183       3.90  
                 
  2021       21,938,404          41,631,785          9,121,613          14,041,967          182       166       5,855       3.25  
                 
  2020       15,959,193          20,212,072          4,645,494          5,780,703          114       118       3,299       2.45  
 
(1)   Walter W. Bettinger II was the CEO and Peter B. Crawford, Joseph R. Martinetto, and Charles R. Schwab were also NEOs for each year presented. Richard A. Wurster was an NEO for 2022 and 2021 and Jonathan M. Craig was an NEO for 2020.
 
(2)   As reported in or, with respect to the
non-CEO
NEOs, the average of the amounts reported in, the “Total” column of the SCT (the SCT Total) for the applicable year. See the footnotes to the SCTs for further detail regarding the amounts in this column.
 
(3)   The SCT Total or, with respect to the
non-CEO
NEOs, the average of the SCT Totals reported for the applicable year, adjusted as follows in accordance with Item 402(v) of Regulation
S-K:
 
                                                                                 
YEAR 
  
                    
  
SCT TOTAL
        COMPENSATION        
($)
  
MINUS
SCT
EQUITY
            AWARDS            
TOTAL
i
($)
  
PLUS
FAIR VALUE
OF CURRENT
    YEAR EQUITY    
AWARDS AT
YEAR-END
ii
($)
  
PLUS
CHANGE IN
FAIR VALUE
      OF UNVESTED      
PRIOR YEAR
EQUITY
AWARDS
ii, iii
($)
   
PLUS
CHANGE IN FAIR
      VALUE OF EQUITY      
AWARDS
VESTED IN
CURRENT YEAR
ii,
iii
($)
  
PLUS
          DIVIDENDS          
PAID ON
UNVESTED
RSUS
($)
  
EQUALS
        COMPENSATION        
ACTUALLY
PAID
($)
                 
2022
       CEO             24,386,329         17,000,054         28,364,147         22,970,143          (843,414)         N/A         57,877,151  
      Other    
    NEOs    		       8,355,171         5,250,051         8,759,579         6,811,517          (257,346)         52,110         18,470,980  
                 
2021
       CEO             21,938,404         13,350,000         16,459,427         13,949,981          2,633,973         N/A         41,631,785  
      Other    
    NEOs    		       9,121,613         6,275,000         7,457,857         3,117,944          600,340         19,213         14,041,967  
                 
2020
       CEO             15,959,193         10,500,000         13,285,558         1,914,194          (446,873)         N/A         20,212,072  
      Other    
    NEOs    		       4,645,494         2,762,500         3,495,393         494,257          (92,803)         862         5,780,703  
(i)   Amounts in this column reflect the totals or, with respect to the
non-CEO
NEOs, the average of the totals under the Stock Awards and Option Awards columns in the SCT for the applicable year. See the footnotes to the SCTs for further detail regarding
the
amounts in this column.
 
 
(ii)   Fair value of equity awards is calculated in accordance with Topic 718. Fair value of PBRSUs with unsatisfied performance conditions as of the applicable measurement date also reflects the probable outcome of the applicable performance conditions as of that date. Fair value of unvested options is based on the fair value of the options as of the applicable measurement date as determined using an options pricing model. If a vesting event is on a weekend or holiday, the next preceding day’s prices are used for valuation purposes. Dividend equivalents accumulating on unvested PBRSUs are included in the
year-end
fair value for the year in which the dividends are accrued.
 
(iii)   Changes in fair value are measured by comparing fair value as of the end of the applicable year or at vesting, as applicable, to the fair value as of the end of the prior year.
 
(4)   Cumulative total shareholder return (TSR) of the company and the Dow Jones U.S. Investment Services Index, which is the same industry index included in Part II, Item 5, “Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities,” furnished on page 23 of the company’s Annual Report on Form
10-K
for the fiscal year ended December 31, 2022, assuming an initial investment of $100 in the company’s common stock on December 31, 2019 and reinvestment of dividends.
 
(5)   Net Income as reported in Part II, Item 8, “Financial Statements and Supplementary Data – Consolidated Statements of Income” on page 64 of the company’s Annual Report on Form
10-K
for the fiscal year ended December 31, 2022.
 
(6)   Adjusted diluted EPS as reported in Part I, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” on page 30 of the company’s Annual Report on Form
10-K
for the fiscal year ended December 31, 2022. For a reconciliation of GAAP diluted EPS to
non-GAAP
adjusted diluted EPS, which in the company’s assessment represents the most important financial performance measure used by the company to link CAP to the NEOs for 2022 to company performance, please see Appendix A on page A-1.
   
Company Selected Measure Name Adjusted diluted EPS    
Named Executive Officers, Footnote [Text Block] Walter W. Bettinger II was the CEO and Peter B. Crawford, Joseph R. Martinetto, and Charles R. Schwab were also NEOs for each year presented. Richard A. Wurster was an NEO for 2022 and 2021 and Jonathan M. Craig was an NEO for 2020.    
Peer Group Issuers, Footnote [Text Block] the Dow Jones U.S. Investment Services Index, which is the same industry index included in Part II, Item 5, “Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities,” furnished on page 23 of the company’s Annual Report on Form
10-K
for the fiscal year ended December 31, 2022, assuming an initial investment of $100 in the company’s common stock on December 31, 2019 and reinvestment of dividends. 		   
PEO Total Compensation Amount $ 24,386,329 $ 21,938,404 $ 15,959,193
PEO Actually Paid Compensation Amount $ 57,877,151 41,631,785 20,212,072
Adjustment To PEO Compensation, Footnote [Text Block] The SCT Total or, with respect to the
non-CEO
NEOs, the average of the SCT Totals reported for the applicable year, adjusted as follows in accordance with Item 402(v) of Regulation
S-K:
 
                                                                                 
YEAR 
  
                    
  
SCT TOTAL
        COMPENSATION        
($)
  
MINUS
SCT
EQUITY
            AWARDS            
TOTAL
i
($)
  
PLUS
FAIR VALUE
OF CURRENT
    YEAR EQUITY    
AWARDS AT
YEAR-END
ii
($)
  
PLUS
CHANGE IN
FAIR VALUE
      OF UNVESTED      
PRIOR YEAR
EQUITY
AWARDS
ii, iii
($)
   
PLUS
CHANGE IN FAIR
      VALUE OF EQUITY      
AWARDS
VESTED IN
CURRENT YEAR
ii,
iii
($)
  
PLUS
          DIVIDENDS          
PAID ON
UNVESTED
RSUS
($)
  
EQUALS
        COMPENSATION        
ACTUALLY
PAID
($)
                 
2022
       CEO             24,386,329         17,000,054         28,364,147         22,970,143          (843,414)         N/A         57,877,151  
      Other    
    NEOs    		       8,355,171         5,250,051         8,759,579         6,811,517          (257,346)         52,110         18,470,980  
                 
2021
       CEO             21,938,404         13,350,000         16,459,427         13,949,981          2,633,973         N/A         41,631,785  
      Other    
    NEOs    		       9,121,613         6,275,000         7,457,857         3,117,944          600,340         19,213         14,041,967  
                 
2020
       CEO             15,959,193         10,500,000         13,285,558         1,914,194          (446,873)         N/A         20,212,072  
      Other    
    NEOs    		       4,645,494         2,762,500         3,495,393         494,257          (92,803)         862         5,780,703  
(i)   Amounts in this column reflect the totals or, with respect to the
non-CEO
NEOs, the average of the totals under the Stock Awards and Option Awards columns in the SCT for the applicable year. See the footnotes to the SCTs for further detail regarding
the
amounts in this column.
 
 
(ii)   Fair value of equity awards is calculated in accordance with Topic 718. Fair value of PBRSUs with unsatisfied performance conditions as of the applicable measurement date also reflects the probable outcome of the applicable performance conditions as of that date. Fair value of unvested options is based on the fair value of the options as of the applicable measurement date as determined using an options pricing model. If a vesting event is on a weekend or holiday, the next preceding day’s prices are used for valuation purposes. Dividend equivalents accumulating on unvested PBRSUs are included in the
year-end
fair value for the year in which the dividends are accrued.
 
(iii)   Changes in fair value are measured by comparing fair value as of the end of the applicable year or at vesting, as applicable, to the fair value as of the end of the prior year.
 
    
Non-PEO NEO Average Total Compensation Amount $ 8,355,171 9,121,613 4,645,494
Non-PEO NEO Average Compensation Actually Paid Amount $ 18,470,980 14,041,967 5,780,703
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] The SCT Total or, with respect to the
non-CEO
NEOs, the average of the SCT Totals reported for the applicable year, adjusted as follows in accordance with Item 402(v) of Regulation
S-K:
 
                                                                                 
YEAR 
  
                    
  
SCT TOTAL
        COMPENSATION        
($)
  
MINUS
SCT
EQUITY
            AWARDS            
TOTAL
i
($)
  
PLUS
FAIR VALUE
OF CURRENT
    YEAR EQUITY    
AWARDS AT
YEAR-END
ii
($)
  
PLUS
CHANGE IN
FAIR VALUE
      OF UNVESTED      
PRIOR YEAR
EQUITY
AWARDS
ii, iii
($)
   
PLUS
CHANGE IN FAIR
      VALUE OF EQUITY      
AWARDS
VESTED IN
CURRENT YEAR
ii,
iii
($)
  
PLUS
          DIVIDENDS          
PAID ON
UNVESTED
RSUS
($)
  
EQUALS
        COMPENSATION        
ACTUALLY
PAID
($)
                 
2022
       CEO             24,386,329         17,000,054         28,364,147         22,970,143          (843,414)         N/A         57,877,151  
      Other    
    NEOs    		       8,355,171         5,250,051         8,759,579         6,811,517          (257,346)         52,110         18,470,980  
                 
2021
       CEO             21,938,404         13,350,000         16,459,427         13,949,981          2,633,973         N/A         41,631,785  
      Other    
    NEOs    		       9,121,613         6,275,000         7,457,857         3,117,944          600,340         19,213         14,041,967  
                 
2020
       CEO             15,959,193         10,500,000         13,285,558         1,914,194          (446,873)         N/A         20,212,072  
      Other    
    NEOs    		       4,645,494         2,762,500         3,495,393         494,257          (92,803)         862         5,780,703  
(i)   Amounts in this column reflect the totals or, with respect to the
non-CEO
NEOs, the average of the totals under the Stock Awards and Option Awards columns in the SCT for the applicable year. See the footnotes to the SCTs for further detail regarding
the
amounts in this column.
 
 
(ii)   Fair value of equity awards is calculated in accordance with Topic 718. Fair value of PBRSUs with unsatisfied performance conditions as of the applicable measurement date also reflects the probable outcome of the applicable performance conditions as of that date. Fair value of unvested options is based on the fair value of the options as of the applicable measurement date as determined using an options pricing model. If a vesting event is on a weekend or holiday, the next preceding day’s prices are used for valuation purposes. Dividend equivalents accumulating on unvested PBRSUs are included in the
year-end
fair value for the year in which the dividends are accrued.
 
(iii)   Changes in fair value are measured by comparing fair value as of the end of the applicable year or at vesting, as applicable, to the fair value as of the end of the prior year.
 
    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]    
Compensation Actually Paid vs. Net Income [Text Block]    
Compensation Actually Paid vs. Company Selected Measure [Text Block]    
Tabular List [Table Text Block]
 
 
Measures Schwab Considers Important in Linking
CAP to Company Performance
 
Adjusted Diluted EPS
 
Return on Tangible Common Equity / Cost of Equity
 
Stock Price
 
 
    
Total Shareholder Return Amount $ 182 182 114
Peer Group Total Shareholder Return Amount 149 166 118
Net Income (Loss) $ 7,183,000,000 $ 5,855,000,000 $ 3,299,000,000
Company Selected Measure Amount 3.9 3.25 2.45
PEO Name Walter W. Bettinger II    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted Diluted EPS    
Non-GAAP Measure Description [Text Block] Adjusted diluted EPS as reported in Part I, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” on page 30 of the company’s Annual Report on Form
10-K
for the fiscal year ended December 31, 2022. For a reconciliation of GAAP diluted EPS to
non-GAAP
adjusted diluted EPS, which in the company’s assessment represents the most important financial performance measure used by the company to link CAP to the NEOs for 2022 to company performance, please see Appendix A on page A-1. 		   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Return on Tangible Common Equity / Cost of Equity    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Stock Price    
PEO [Member] | Deduct: Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (17,000,054) $ (13,350,000) $ (10,500,000)
PEO [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 28,364,147 16,459,427 13,285,558
PEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 22,970,143 13,949,981 1,914,194
PEO [Member] | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (843,414) 2,633,973 (446,873)
Non-PEO NEO [Member] | Deduct: Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (5,250,051) (6,275,000) (2,762,500)
Non-PEO NEO [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 8,759,579 7,457,857 3,495,393
Non-PEO NEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 6,811,517 3,117,944 494,257
Non-PEO NEO [Member] | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (257,346) 600,340 (92,803)
Non-PEO NEO [Member] | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 52,110 $ 19,213 $ 862