v3.26.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Disaggregation of Schwab’s revenue by major source is as follows:
Three Months Ended
March 31,
20262025
Net interest revenue
Cash and cash equivalents$288 $328 
Cash and investments segregated397 412 
Receivables from brokerage clients (1)
1,499 1,379 
Available for sale securities 326 433 
Held to maturity securities567 622 
Bank loans627 493 
Securities lending revenue91 60 
Other interest revenue (1)
167 30 
Interest revenue3,962 3,757 
Bank deposits(118)(436)
Payables to brokers, dealers, and clearing organizations
(217)(137)
Payables to brokerage clients (1)
(56)(49)
Other short-term borrowings
(92)(82)
Federal Home Loan Bank borrowings
(12)(133)
Long-term debt(201)(212)
Other interest expense (1)
(122)(2)
Interest expense(818)(1,051)
Net interest revenue3,144 2,706 
Asset management and administration fees
Mutual funds, ETFs, CTFs, and alternatives (2)
991 878 
Managed investing solutions674 569 
Other (2)
94 83 
Asset management and administration fees1,759 1,530 
Trading revenue
Commissions489 431 
Order flow revenue560 443 
Principal transactions40 34 
Trading revenue1,089 908 
Bank deposit account fees295 245 
Other 195 210 
Total net revenues$6,482 $5,599 
(1) Beginning in the fourth quarter of 2025, interest revenue and interest expense from client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are presented in other interest revenue and other interest expense. Interest revenue and interest expense amounts related to these strategies were previously presented in receivables from brokerage clients and payables to brokerage clients, respectively, and 2025 amounts have been reclassified to reflect this change.
(2) Beginning in the first quarter of 2026, alternative investments revenue was moved from other asset management and administration fees to mutual funds, ETFs, CTFs, and alternatives. Prior period amounts have been reclassified to reflect this change.