v3.26.1
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 5,085 $ 4,963
Cash segregated for regulatory purposes 53,414 50,332
Securities - segregated for regulatory purposes 41,889 26,521
Securities borrowed 10,798 11,589
Securities purchased under agreements to resell 9,948 7,117
Financial instruments owned, at fair value 3,452 4,982
Receivables    
Customers, less allowance for credit losses of $25 and $24 as of March 31, 2026 and December 31, 2025 86,544 90,475
Brokers, dealers and clearing organizations 5,405 5,161
Interest 537 530
Total receivables 92,486 96,166
Other assets 1,677 1,570
Total assets 218,749 203,240
Liabilities and equity    
Short-term borrowings 12 19
Securities loaned 32,016 24,751
Financial instruments sold, but not yet purchased, at fair value 514 740
Payables    
Customers 162,959 154,336
Brokers, dealers, and clearing organizations 664 1,566
Affiliate 218 217
Accounts payable, accrued expenses and other liabilities 791 818
Interest 315 321
Total payables 164,947 157,258
Total liabilities 197,489 182,768
Commitments, contingencies and guarantees (see Note 13)
Stockholders' equity    
Additional paid-in capital 1,965 1,957
Retained earnings 3,596 3,365
Accumulated other comprehensive income, net of income taxes of $0 as of both March 31, 2026 and December 31, 2025 35 56
Treasury stock, at cost, 659,407 and 716,889 shares as of March 31, 2026 and December 31, 2025 (12) (16)
Total stockholders' equity 5,585 5,363
Noncontrolling interests 15,675 15,109
Total equity 21,260 20,472
Total liabilities and stockholders' equity 218,749 203,240
Asset Not Pledged as Collateral [Member]    
Assets    
Financial instruments owned, at fair value 3,295 4,873
Asset Pledged as Collateral [Member]    
Assets    
Financial instruments owned, at fair value 157 109
Common Class A [Member]    
Stockholders' equity    
Common stock, $0.01 par value per share 1 1
Common Class B [Member]    
Stockholders' equity    
Common stock, $0.01 par value per share $ 0 $ 0