The Charles Schwab Corporation

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Operating Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Net Income	8,233	5,942	5,067	7,183	5,855	3,299	3,704	3,507	2,354	1,889	1,447
Net Income
Depreciation & Amortization	1,383	1,435	1,338	1,248	1,164	604	349	306	269	234	224
Depreciation and Amortization
Amortization of Acquired Intangible Assets
Share-Based Compensation Expense	329	337	320	366	254	204	183	197	153	141	135
Share-Based Compensation
Other Adjustments	1,788	1,167	1,054	1,847	2,771	1,797	647	536	451	285	140
Income from Discontinued Operations, Net of Tax
Provision for Loan Losses
Net Impairment Losses on Securities
Excess Tax Benefits from Stock-Based Compensation
Provision for Deferred Income Taxes
Premium Amortization, Net, on Available for Sale and Held to Maturity Securities
Other
Changes in Restricted Cash and Segregated Assets	-21,943	-14,090	23,759	-874	-3,398	-10,208	-977	6,922	4,933	-1,635	1,183
Cash and Investments Segregated and on Deposit for Regulatory Purposes
Investments Segregated and on Deposit for Regulatory Purposes
Changes in Trading Assets	—	—	—	—	—	—	—	—	—	84	-17
Other Securities Owned
Changes in Trade Receivables	-21,302	-15,892	-2,586	24,119	-26,168	-14,609	-125	-1,100	-3,428	3	-1,760
Receivables from Brokers, Dealers, and Clearing Organizations
Receivables from Brokerage Clients
Changes in Accounts Payable	41,992	23,461	-10,844	-31,082	21,470	22,909	6,494	1,483	-4,651	2,528	-312
Payables to Brokers, Dealers, and Clearing Organizations
Payables to Brokerage Clients
Changes in Accrued Expenses	-10,118	218	3,048	-677	1,322	2,852	-241	613	-727	167	304
Accrued Expenses and Other Liabilities
Changes in Other Operating Activities	-1,115	92	-1,569	-73	-1,152	4	-709	-8	-193	-93	-98
Originations of Loans Held for Sale
Proceeds from Sales of Loans Held for Sale
Other Assets
Net Cash Provided by Discontinued Operations
Cash from Operating Activities	-753	2,670	19,587	2,057	2,118	6,852	9,325	12,456	-839	3,603	1,246
Net Cash Provided by Operating Activities

Investing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Capital Expenditure	-919	-895	-1,869	-518	-916	-631	-708	-570	-400	-346	-266
Purchases of Equipment, Office Facilities, and Property
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—	—	—	—	—	—
Proceeds from Sales of Equipment, Office Facilities, and Property
Purchases of Investments	-3,482	-2,986	-1,487	-51,009	-171,732	-202,171	-51,256	-73,674	-47,958	-60,410	-40,654
Purchases of Available for Sale Securities
Purchases of Held to Maturity Securities
Proceeds from Sale of Investments	47,966	43,842	60,434	90,360	108,218	68,048	65,717	33,541	29,339	23,187	13,304
Proceeds from Sales of Available for Sale Securities
Principal Payments on Available for Sale Securities
Principal Payments on Held to Maturity Securities
Payments for Business Acquisitions	—	—	—	—	—	14,748	—	—	—	—	—
Cash Acquired in Acquisitions, Net of Cash Paid
Proceeds from Business Divestments	—	—	—	—	—	—	—	—	—	—	—
Proceeds from Sale of U.S. Trust, Net of Transaction Costs
Other Investing Activities	-9,410	-4,530	333	-6,785	-11,233	-5,845	-1,789	148	-1,454	-1,206	-1,007
Net Change in Bank Loans
Purchases of Federal Home Loan Bank Stock
Purchases of FHLB Stock
Proceeds from Sales of FHLB Stock
Purchases of Federal Reserve Stock
Proceeds from Sales of Federal Reserve Stock
Other Investing Activities
Net Cash Provided by Discontinued Operations
Cash from Investing Activities	33,423	35,431	57,411	32,048	-75,663	-125,851	11,964	-40,555	-20,473	-38,775	-28,623
Net Cash Provided by Investing Activities

Financing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Issuance of Short-Term Debt	28,552	50,018	66,200	33,395	11,107	1,234	1,400	-15,000	15,000	—	—
Issuance of Commercial Paper
Proceeds from Commercial Paper and Secured Lines of Credit
Proceeds from FHLB Borrowings
Net Change in Short-Term Borrowings
Repayments of Short-Term Debt	-81,919	-60,272	-50,304	-21,204	-6,255	-1,234	-1,400	—	—	—	—
Repayment of Commercial Paper and Secured Lines of Credit
Net Change in Other Short-Term Borrowings
Repayments of FHLB Borrowings
Repayments of Other Short-Term Borrowings
Net Issuance / (Repayments) of Short-Term Debt	-53,367	-10,254	15,896	12,191	4,852	—	—	-15,000	15,000	—	—
Issuance of Long-Term Debt	—	—	6,097	2,971	7,036	3,070	593	3,024	2,129	—	1,346
Issuances of Long-Term Debt
Repayments of Long-Term Debt	-2,249	-3,682	-831	-1,036	-1,822	-700	-2,220	-909	-257	-7	-357
Repayments of Long-Term Debt
Premium Paid on Debt Exchange
Net Issuance / (Repayments) of Long-Term Debt	-2,249	-3,682	5,266	1,935	5,214	2,370	-1,627	2,115	1,872	-7	989
Issuance of Common Shares	172	84	49	64	221	79	118	125	171	144	90
Proceeds from Stock Options Exercised
Repurchases of Common Shares	—	—	-2,842	-3,395	—	—	—	-1,000	—	—	—
Repurchases of Common Stock and Nonvoting Common Stock
Net Issuance / (Repurchases) of Common Shares	172	84	-2,793	-3,331	221	79	118	-875	171	144	90
Issuance of Preferred Shares	—	—	—	740	2,806	4,940	—	—	492	1,316	581
Issuance of Preferred Stock, Net
Repurchases of Preferred Shares	—	—	-467	-1,000	-600	—	—	—	-485	—	—
Redemption of Preferred Stock
Net Issuance / (Repurchases) of Preferred Shares	—	—	-467	-260	2,206	4,940	—	—	7	1,316	581
Common Share Dividends Paid	-2,340	-2,275	-2,276	-2,110	-1,822	-1,280	-1,060	-787	-592	-486	-387
Dividends Paid
Other Financing Activities	-7,513	-30,933	-76,871	-77,148	85,652	137,873	-11,370	61,713	6,141	33,996	26,719
Net Change in Bank Deposits
Excess Tax Benefits from Stock-Based Compensation
Other Financing Activities
Net Cash Provided by Discontinued Operations
Cash from Financing Activities	-44,808	-47,060	-61,245	-68,723	96,323	143,982	-13,939	47,166	22,599	34,963	27,992
Net Cash Provided by Financing Activities

Free Cash Flow	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Free Cash Flow	-1,672	1,775	17,718	1,539	1,202	6,221	8,617	11,886	-1,239	3,257	980
NOPAT	4,021.6	1,837	610.1	3,719.3	2,716.1	537.8	1,167.4	1,157	588.8	332.6	10.2
Levered Free Cash Flow	-20,463	1,763	39,674	-11,215	33,916	20,943	6,107	-810	18,283	2,678	3,371
Unlevered Free Cash Flow	13,182.6	12,058	14,473.1	-28,256.7	21,206.1	16,067.8	5,375.4	9,903	-180.2	1,271.6	1,028.2
Net Change in Cash	-12,138	-8,959	15,753	-34,618	22,778	24,983	7,350	19,067	1,287	-209	615