The Charles Schwab Corporation

NYSE-SCHW

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Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	2,358	2,126	1,909	1,840	1,408	1,332
Net Income
Depreciation & Amortization	339	343	347	354	361	362
Depreciation and Amortization
Amortization of Acquired Intangible Assets
Share-Based Compensation Expense	61	72	126	70	65	71
Share-Based Compensation
Other Adjustments	816	343	287	342	280	273
Provision for Loan Losses
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	-1,268	-10,757	3,354	-13,272	-1,546	12
Cash and Investments Segregated and on Deposit for Regulatory Purposes
Investments Segregated and on Deposit for Regulatory Purposes
Changes in Trading Assets	—	—	—	—	—	—
Other Securities Owned
Changes in Trade Receivables	-11,493	274	422	-10,505	-1,396	-808
Receivables from Brokers, Dealers, and Clearing Organizations
Receivables from Brokerage Clients
Changes in Accounts Payable	9,866	11,615	1,428	19,083	19,772	-4,892
Payables to Brokers, Dealers, and Clearing Organizations
Payables to Brokerage Clients
Changes in Accrued Expenses	232	-257	-1,431	-8,662	479	-523
Accrued Expenses and Other Liabilities
Changes in Other Operating Activities	-373	-582	-83	-77	-325	-79
Other Assets
Cash from Operating Activities	538	3,177	6,359	-10,827	19,098	-4,252
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-145	-128	-117	-529	-128	-89
Purchases of Equipment, Office Facilities, and Property
Purchases of Investments	-1,106	-868	-1,448	-736	-992	-735
Purchases of Available for Sale Securities
Purchases of Held to Maturity Securities
Proceeds from Sale of Investments	10,378	13,320	13,825	10,443	10,877	12,015
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	—	—	—	—	—	—
Cash Acquired in Acquisitions, Net of Cash Paid
Other Investing Activities	-2,984	-3,246	-1,790	-1,444	-1,241	-1,485
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
Cash from Investing Activities	6,143	9,076	10,470	7,734	8,516	9,706
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	15,929	14,861	13,498	11,792	15,159	14,017
Proceeds from Commercial Paper and Secured Lines of Credit
Proceeds from FHLB Borrowings
Net Change in Short-Term Borrowings
Proceeds from Other Short-Term Borrowings
Repayments of Short-Term Debt	-26,027	-15,832	-17,774	-22,286	-16,362	-12,026
Repayment of Commercial Paper and Secured Lines of Credit
Repayments 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	-10,098	-971	-4,276	-10,494	-1,203	1,991
Issuance of Long-Term Debt	—	—	—	—	—	—
Issuances of Long-Term Debt
Repayments of Long-Term Debt	-6	-1,256	-981	-6	-6	-410
Repayments of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	-6	-1,256	-981	-6	-6	-410
Issuance of Common Shares	32	70	39	31	10	21
Proceeds from Stock Options Exercised
Repurchases of Common Shares	-2,748	-333	-1,500	—	—	—
Repurchases of Common Stock and Nonvoting Common Stock
Net Issuance / (Repurchases) of Common Shares	-2,716	-263	-1,461	31	10	21
Issuance of Preferred Shares	—	—	—	—	—	—
Issuance of Preferred Stock, Net
Repurchases of Preferred Shares	—	-2,458	—	—	—	—
Redemption of Preferred Stock
Net Issuance / (Repurchases) of Preferred Shares	—	-2,458	—	—	—	—
Common Share Dividends Paid	-562	-608	-595	-575	-563	-575
Dividends Paid
Other Financing Activities	5,997	-13,109	-13,049	12,648	-5,964	-17,039
Net Change in Bank Deposits
Other Financing Activities
Cash from Financing Activities	-7,385	-18,665	-20,362	1,604	-7,726	-16,012
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	393	3,049	6,242	-11,356	18,970	-4,341
NOPAT	1,260.6	1,148.3	799.4	808.6	360.8	343.1
Levered Free Cash Flow	824	-16	37	-12,005	18,703	-2,417
Unlevered Free Cash Flow	9,911.6	1,382.3	4,297.4	-2,413.4	18,973.8	-4,865.9
Net Change in Cash	-704	-6,412	-3,533	-1,489	19,888	-10,558