10-K.Info (Beta Test)
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10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

SCHWAB CHARLES CORP

Ticker: SCHW   Fiscal Year: 2021

Consolidated Statements of Income

Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022)

(In Millions)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2021Dec 31, 2020Dec 31, 2019
Net Revenues
Interest revenue
$
8,506
6,5317,580
Interest expense(476)(418)(1,064)
Net interest revenue8,0306,1136,516
 
Other749332242
Total net revenues18,52011,69110,721
 
Expenses Excluding Interest
Compensation and benefits5,4503,9543,320
Professional services994843702
Occupancy and equipment976703559
Advertising and market development485326307
Communications587353253
Depreciation and amortization549414322
Amortization of acquired intangible assets61519027
Regulatory fees and assessments275163122
Other876445261
Total expenses excluding interest10,8077,3915,873
 
Income before taxes on income7,7134,3004,848
 
Taxes on income1,8581,0011,144
Net Income5,8553,2993,704
 
Preferred stock dividends and other495256178
Net Income Available to Common Stockholders5,3603,0433,526
 
Weighted-Average Common Shares Outstanding:
Basic (in shares)1,8871,4291,311
Diluted (in shares)1,8971,4351,320
Earnings Per Common Shares Outstanding
Basic (USD per share)2.842.132.69
Diluted (USD per share)2.83 [1]2.122.67
Product and Service
Asset management and administration fees
Revenues from contracts with customers4,2743,4753,211
Trading revenue
Revenues from contracts with customers4,1521,416752
Bank deposit account fees
Revenues from contracts with customers1,3153550
[1] For the years ended December 31, 2021 and 2020, the Company had voting and nonvoting common stock outstanding. As the participation rights, including dividend and liquidation rights, are identical between the voting and nonvoting stock classes, basic and diluted earnings per share are the same for each class. See Notes 19 and 25 for additional information.
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SCHWAB CHARLES CORP

Ticker: SCHW   Fiscal Year: 2021

Consolidated Statements of Comprehensive Income

Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2021Dec 31, 2020Dec 31, 2019
Net income
$
5,855
3,2993,704
Other comprehensive income (loss), before tax:
Change in net unrealized gain (loss) on available for sale securities:
Net unrealized gain (loss)(8,521)6,961430
Other reclassifications included in other revenue(4)(4)(6)
Change in net unrealized gain (loss) on held to maturity securities:
Amortization of amounts previously recorded upon transfer to held to maturity from available for sale0036
Other(11)8(14)
Other comprehensive income (loss), before tax(8,536)6,965446
 
Income tax effect2,033(1,659)(106)
Other comprehensive income (loss), net of tax(6,503)5,306340
 
Comprehensive Income (Loss)(648)8,6054,044
 
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SCHWAB CHARLES CORP

Ticker: SCHW   Fiscal Year: 2021

Consolidated Statements of Cash Flows

Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2021Dec 31, 2020Dec 31, 2019
Cash Flows from Operating Activities
Net income
$
5,855
3,2993,704
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Share-based compensation254204183
Depreciation and amortization549414322
Amortization of acquired intangible assets61519027
Provision (benefit) for deferred income taxes53(138)2
Premium amortization, net, on available for sale securities2,3461,586446
Other372349199
Net change in:
Investments segregated and on deposit for regulatory purposes(3,398)(10,208)(977)
Receivables from brokerage clients(26,168)(14,609)(125)
Other assets(1,152)4(709)
Payables to brokerage clients21,47022,9096,494
Accrued expenses and other liabilities1,3222,852(241)
Net cash provided by (used for) operating activities2,1186,8529,325
 
Cash Flows from Investing Activities
Purchases of available for sale securities(171,732)(202,171)(31,815)
Proceeds from sales of available for sale securities13,3064,80124,495
Principal payments on available for sale securities94,91263,24721,616
Purchases of held to maturity securities00(19,441)
Principal payments on held to maturity securities0019,606
Net change in bank loans(10,845)(5,675)(1,730)
Cash acquired in acquisitions, net of cash paid014,7480
Purchases of equipment, office facilities, and property(916)(631)(708)
Purchases of Federal Home Loan Bank stock0(26)(27)
Proceeds from sales of Federal Home Loan Bank stock03224
Purchases of Federal Reserve stock(245)(191)0
Other investing activities(143)15(56)
Net cash provided by (used for) investing activities(75,663)(125,851)11,964
 
Cash Flows from Financing Activities
Net change in bank deposits85,756137,928(11,329)
Proceeds from commercial paper and secured lines of credit11,1071,2341,400
Repayment of commercial paper and secured lines of credit(6,255)(1,234)(1,400)
Issuance of long-term debt7,0363,070593
Repayment of long-term debt(1,822)(700)0
Repurchases of common stock00(2,220)
Net proceeds from preferred stock offerings2,8064,9400
Redemption of preferred stock(600)00
Dividends paid(1,822)(1,280)(1,060)
Proceeds from stock options exercised22179118
Other financing activities(104)(55)(41)
Net cash provided by (used for) financing activities96,323143,982(13,939)
 
Increase (Decrease) in Cash and Cash Equivalents, including Amounts Restricted22,77824,9837,350
 
Cash and Cash Equivalents, including Amounts Restricted at Beginning of Year70,56045,577
Cash and Cash Equivalents, including Amounts Restricted at End of Year93,33870,56045,577
 
Supplemental Cash Flow Information
Non-cash investing activity:
Securities transferred from held to maturity to available for sale, at fair value0136,0998,771
Additions of equipment, office facilities, and property12511045
Acquisition of TD Ameritrade021,7580
Non-cash financing activity:
Extinguishment of finance lease obligation through an assignment agreement0052
Cash paid during the period for:
Interest5014341,075
Income taxes2,0538031,199
Amounts included in the measurement of lease liabilities212163133
Leased assets obtained in exchange for new operating lease liabilities8916097
Leased assets obtained in exchange for new finance lease liabilities10900
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SCHWAB CHARLES CORP

Ticker: SCHW   Fiscal Year: 2021

Consolidated Balance Sheets

Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2021Dec 31, 2020
Assets
Cash and cash equivalents
$
62,975
40,348
Cash and investments segregated and on deposit for regulatory purposes (including resale agreements of $13,096 and $14,904 at December 31, 2021 and 2020, respectively)53,94950,399
Receivables from brokerage clients net90,56564,440
Available for sale securities (amortized cost of $391,482 and $330,248 at December 31, 2021 and 2020, respectively)390,054337,400
Bank loans net34,63623,813
Equipment, office facilities, and property net3,4422,883
Goodwill11,95211,952
Acquired intangible assets net9,3799,991
Other assets10,3187,783
Total assets667,270549,009
 
Liabilities and Stockholders Equity
Bank deposits443,778358,022
Payables to brokerage clients125,671104,201
Accrued expenses and other liabilities17,79117,094
Short-term borrowings4,8550
Long-term debt18,91413,632
Total liabilities611,009492,949
 
Stockholders equity:
Preferred stock $.01 par value per share; aggregate liquidation preference of $10,100 and $7,850 at December 31, 2021 and 2020, respectively9,9547,733
Additional paid-in capital26,74126,515
Retained earnings25,99221,975
Treasury stock, at cost 180,959,274 and 193,577,648 shares at December 31, 2021 and 2020, respectively(5,338)(5,578)
Accumulated other comprehensive income (loss)(1,109)5,394
Total stockholders equity56,26156,060
 
Total liabilities and stockholders equity667,270549,009
 
Class of Stock
Common Stock
Common stock2020
Nonvoting Common Stock
Common stock11
External Links 
SCHWAB CHARLES CORP (SCHW) Fiscal Year 2021
Statements of 10-K in Excel https://www.sec.gov/.../Financial.xlxs
Complete 10-K in HTML https://www.sec.gov/.../10-K.html
Complete 10-K in XBRL https://www.sec.gov/.../10-K-xbrl.zip