v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of Schwab’s revenue by major source is as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net interest revenue
Cash and cash equivalents$278 $305 $566 $633 
Cash and investments segregated374 506 771 918 
Receivables from brokerage clients (1)
1,609 1,321 3,108 2,700 
Available for sale securities 358 405 684 838 
Held to maturity securities570 602 1,137 1,224 
Bank loans693 518 1,320 1,011 
Securities lending revenue178 96 269 156 
Other interest revenue (1,2)
86 34 253 64 
Interest revenue4,146 3,787 8,108 7,544 
Bank deposits(114)(326)(232)(762)
Payables to brokers, dealers, and clearing organizations
(276)(167)(493)(304)
Payables to brokerage clients (1)
(59)(60)(115)(109)
Other short-term borrowings
(111)(87)(203)(169)
Federal Home Loan Bank borrowings
(1)(110)(13)(243)
Long-term debt(228)(206)(429)(418)
Other interest expense (1,2)
— (9)(122)(11)
Interest expense(789)(965)(1,607)(2,016)
Net interest revenue3,357 2,822 6,501 5,528 
Asset management and administration fees
Mutual funds, ETFs, CTFs, and alternatives (3)
1,020 898 2,011 1,776 
Managed investing solutions707 589 1,381 1,158 
Other (3)
98 83 192 166 
Asset management and administration fees1,825 1,570 3,584 3,100 
Trading revenue
Commissions528 431 1,017 862 
Order flow revenue624 466 1,184 909 
Principal transactions63 55 103 89 
Trading revenue1,215 952 2,304 1,860 
Bank deposit account fees333 247 628 492 
Other 342 260 537 470 
Total net revenues$7,072 $5,851 $13,554 $11,450 
(1) Beginning in the fourth quarter of 2025, interest revenue and expense from client margin loans and short credits related to client long/short strategies from which the Company earns a fixed net yield were moved from receivables from brokerage clients and payables to brokerage clients, respectively, to other interest revenue and other interest expense, respectively. Amounts for 2025 periods have been reclassified to reflect this change.
(2) Beginning in the second quarter of 2026, the net fixed yield earned on client long/short strategies is presented in other interest revenue; amounts for periods prior to the three months ended June 30, 2026 have not been recast as the impact of this change was not material.
(3) 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.

For a summary of revenue provided by our reportable segments, see Note 19. The recognition of revenue is not impacted by the operating segment in which revenue is generated.

Contract balances: Receivables from contracts with customers within the scope of ASC 606 Revenue From Contracts With Customers (ASC 606), are included in other assets on the condensed consolidated balance sheets, and totaled $928 million and $819 million at June 30, 2026 and December 31, 2025, respectively.

The Company had net contract assets of $182 million and $193 million at June 30, 2026 and December 31, 2025, respectively, related to the buy down of fixed-rate obligation amounts pursuant to the 2023 IDA agreement. These amounts are included in other assets on the condensed consolidated balance sheets and are amortized on a straight-line basis over the remaining
contractual term as a reduction to bank deposit account fee revenue. For additional discussion of the 2023 IDA agreement, see Note 11.
Unsatisfied performance obligations: We do not have any unsatisfied performance obligations other than those that are subject to an elective practical expedient under ASC 606. The practical expedient applies to and is elected for contracts where we recognize revenue at the amount to which we have the right to invoice for services performed.