v3.25.4
Fair Values of Assets and Liabilities
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Values of Assets and Liabilities Fair Values of Assets and Liabilities
For a description of the fair value hierarchy and Schwab’s fair value methodologies, including the use of independent third-party pricing services, see Note 2. The Company did not adjust prices received from the primary independent third-party pricing services at December 31, 2025 or 2024.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis:
December 31, 2025Level 1Level 2Level 3Balance at
Fair Value
Cash equivalents:
Money market funds$13,947 $— $— $13,947 
U.S. Treasury securities— 1,989 — 1,989 
Total cash equivalents13,947 1,989 — 15,936 
Investments segregated and on deposit for regulatory purposes:
U.S. government securities— 23,555 — 23,555 
Total investments segregated and on deposit for regulatory purposes— 23,555 — 23,555 
Available for sale securities:
U.S. agency mortgage-backed securities— 41,434 — 41,434 
U.S. Treasury securities— 11,364 — 11,364 
Corporate debt securities— 4,667 — 4,667 
Asset-backed securities— 4,199 — 4,199 
U.S. state and municipal securities— 561 — 561 
Non-agency commercial mortgage-backed securities— 113 — 113 
Other— 19 — 19 
Total available for sale securities— 62,357 — 62,357 
Other assets:
Other securities owned:
Equity, corporate debt, and other securities1,704 84 — 1,788 
Mutual funds and ETFs1,314 — — 1,314 
State and municipal debt obligations— 45 — 45 
U.S. government securities— 15 — 15 
Total other securities owned3,018 144 — 3,162 
Interest rate swaps— 1 — 1 
Total other assets3,018 145 — 3,163 
Total assets$16,965 $88,046 $— $105,011 
Accrued expenses and other liabilities:
Interest rate swaps$— $1 $— $1 
Other2,804 40 — 2,844 
Total accrued expenses and other liabilities2,804 41 — 2,845 
Total liabilities$2,804 $41 $— $2,845 
December 31, 2024Level 1Level 2Level 3Balance at
Fair Value
Cash equivalents:
Money market funds$11,005 $— $— $11,005 
Total cash equivalents11,005 — — 11,005 
Investments segregated and on deposit for regulatory purposes:
U.S. government securities— 25,740 — 25,740 
Total investments segregated and on deposit for regulatory purposes— 25,740 — 25,740 
Available for sale securities:
U.S. agency mortgage-backed securities— 51,833 — 51,833 
U.S. Treasury securities— 14,469 — 14,469 
Corporate debt securities— 9,579 — 9,579 
Asset-backed securities— 5,910 — 5,910 
U.S. state and municipal securities— 549 — 549 
Foreign government agency securities— 527 — 527 
Non-agency commercial mortgage-backed securities— 109 — 109 
Other— 18 — 18 
Total available for sale securities— 82,994 — 82,994 
Other assets:
Other securities owned:
Equity, corporate debt, and other securities1,395 73 — 1,468 
Mutual funds and ETFs1,019 — — 1,019 
State and municipal debt obligations— 38 — 38 
U.S. government securities— 18 — 18 
Total other securities owned2,414 129 — 2,543 
Total other assets2,414 129 — 2,543 
Total assets$13,419 $108,863 $— $122,282 
Accrued expenses and other liabilities:
Other$2,161 $37 $— $2,198 
Total accrued expenses and other liabilities2,161 37 — 2,198 
Total liabilities$2,161 $37 $— $2,198 
 
Fair Value of Other Financial Instruments

The following tables present the fair value hierarchy for other financial instruments:
December 31, 2025Carrying
Amount		Level 1Level 2Level 3Balance at
Fair Value
Assets
Cash and cash equivalents$30,094 $30,094 $— $— $30,094 
Cash and investments segregated and on deposit for regulatory purposes19,290 2,470 16,820 — 19,290 
Receivables from brokers, dealers, and clearing organizations7,190 — 7,190 — 7,190 
Receivables from brokerage clients — net104,625 — 104,625 — 104,625 
Held to maturity securities:
U.S. agency mortgage-backed securities133,563 — 125,649 — 125,649 
U.S. Treasury securities406 — 406 — 406 
Total held to maturity securities133,969 — 126,055 — 126,055 
Bank loans — net:
First Mortgages30,456 — 28,612 — 28,612 
HELOCs426 — 431 — 431 
Pledged asset lines26,603 — 26,603 — 26,603 
Other470 — 470 — 470 
Total bank loans — net57,955 — 56,116 — 56,116 
Other assets766 — 766 — 766 
Liabilities
Bank deposits$255,747 $— $255,747 $— $255,747 
Payables to brokers, dealers, and clearing organizations25,689 — 25,689 — 25,689 
Payables to brokerage clients116,341 — 116,341 — 116,341 
Accrued expenses and other liabilities1,359 — 1,359 — 1,359 
Other short-term borrowings6,913 — 6,913 — 6,913 
Federal Home Loan Bank borrowings1,850 — 1,850 — 1,850 
Long-term debt22,162 — 22,059 — 22,059 

December 31, 2024Carrying
Amount		Level 1Level 2Level 3Balance at
Fair Value
Assets
Cash and cash equivalents$31,078 $31,078 $— $— $31,078 
Cash and investments segregated and on deposit for regulatory purposes12,416 2,401 10,015 — 12,416 
Receivables from brokers, dealers, and clearing organizations2,440 — 2,440 — 2,440 
Receivables from brokerage clients — net85,343 — 85,343 — 85,343 
Held to maturity securities:
U.S. agency mortgage-backed securities146,453 — 132,605 — 132,605 
Total held to maturity securities146,453 — 132,605 — 132,605 
Bank loans — net:
First Mortgages27,375 — 24,336 — 24,336 
HELOCs423 — 441 — 441 
Pledged asset lines17,024 — 17,024 — 17,024 
Other393 — 393 — 393 
Total bank loans — net45,215 — 42,194 — 42,194 
Other assets1,405 — 1,405 — 1,405 
Liabilities
Bank deposits$259,121 $— $259,121 $— $259,121 
Payables to brokers, dealers, and clearing organizations13,336 — 13,336 — 13,336 
Payables to brokerage clients101,559 — 101,559 — 101,559 
Accrued expenses and other liabilities1,076 — 1,076 — 1,076 
Other short-term borrowings5,999 — 5,999 — 5,999 
Federal Home Loan Bank borrowings16,700 — 16,700 16,700 
Long-term debt22,379 — 21,621 — 21,621