The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions. The Advisor Services segment offers custodial, trading, banking, and support services; and retirement business and corporate brokerage retirement services. This segment provides brokerage accounts with equity and fixed income, margin lending, options, and futures and forex trading; cash management capabilities comprising third-party certificates of deposit; third-party and proprietary mutual funds; plus mutual fund trading and clearing services; and exchange-traded funds (ETFs), including proprietary and third-party ETFs. It also offers advice solutions, such as managed portfolios of proprietary and third-party mutual funds and ETFs, separately managed accounts, customized personal advice for tailored portfolios, and specialized planning and portfolio management. In addition, this segment provides banking products and services, including checking and savings accounts, first lien residential real estate mortgage loans, home equity lines of credit, and pledged asset lines; and trust services comprising trust custody services, personal trust reporting services, and administrative trustee services. As of December 31, 2021, the Company had approximately 400 domestic branch offices in 48 states and the District of Columbia, as well as locations in Puerto Rico, the United Kingdom, Hong Kong, and Singapore. The Charles Schwab Corporation was incorporated in 1971 and is headquartered in Westlake, Texas.

The Charles Schwab Corporation

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Professional Services

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Occupancy and Equipment

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Communications

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Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Transaction-Based Revenues	10,990	9,709	8,691	9,298	9,741	5,246	3,963	4,131	4,046	3,880	3,516
Asset Management and Administration Fees
Trading Revenue
Bank Deposit Account Fees
Net Interest Income	11,109	9,144	9,427	10,682	8,030	6,113	6,516	5,823	4,282	3,322	2,525
Net Interest Revenue
Other Revenues	1,795	1,482	1,424	2,191	2,064	687	242	178	290	276	317
Bank Deposit Account Fees
Other
Provision for Loan Losses
Net Impairment Gains on Securities
Total Revenues	23,894	20,335	19,542	22,171	19,835	12,046	10,721	10,132	8,618	7,478	6,358
Total Revenues %Chg	23.2%	4.1%	-11.9%	11.8%	64.7%	12.4%	5.8%	17.6%	15.2%	17.6%	5.1%
Cost of Sales	6,394	6,043	6,315	5,936	5,450	3,954	3,320	3,057	2,737	2,466	2,241
Compensation and Benefits
Gross Profit	17,500	14,292	13,227	16,235	14,385	8,092	7,401	7,075	5,881	5,012	4,117
Gross Profit Margin	73.2%	70.3%	67.7%	73.2%	72.5%	67.2%	69%	69.8%	68.2%	67%	64.8%
Selling, General & Administrative Expenses	9,659	9,144	9,653	9,150	8,492	6,179	5,141	4,762	4,252	3,872	3,535
Occupancy and Equipment
Advertising and Market Development
Professional Services
Communications
Compensation and Benefits
Depreciation & Amortization Expenses	1,383	1,435	1,338	1,248	1,164	604	349	306	269	234	224
Depreciation and Amortization
Amortization of Acquired Intangible Assets
Other Operating Expenses	1,288	1,335	1,468	976	1,151	608	383	502	447	379	342
Class Action Litigation and Regulatory Reserve
Money Market Mutual Fund Charges
Other
Regulatory Fees and Assessments
Operating Profit	5,170	2,378	768	4,861	3,578	701	1,528	1,505	913	527	16
Operating Margin	21.6%	11.7%	3.9%	21.9%	18%	5.8%	14.3%	14.9%	10.6%	7%	0.3%
Income Before Provision for Income Taxes	10,584	7,692	6,378	9,388	7,713	4,300	4,848	4,562	3,650	2,993	2,279
Income Before Taxes on Income
Provision for Income Taxes	2,351	1,750	1,311	2,205	1,858	1,001	1,144	1,055	1,296	1,104	832
Taxes on Income
Consolidated 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 Attributable to Preferred Dividends	466	464	418	548	495	256	178	178	174	143	83
Preferred Stock Dividends and Other
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—	—	—	—	—	—
Loss from Discontinued Operations, Net of Tax
Net Income Attributable to Common Shareholders	7,767	5,478	4,649	6,635	5,360	3,043	3,526	3,329	2,180	1,746	1,364
Net Income Available to Common Stockholders
Basic EPS	4.3	3	2.6	3.5	2.8	2.1	2.7	2.5	1.6	1.3	1
Diluted EPS	4.3	3	2.5	3.5	2.8	2.1	2.7	2.5	1.6	1.3	1
Basic Weighted Average Shares Outstanding	1,817.8	1,828	1,824	1,885	1,887	1,429	1,311	1,348	1,339	1,324	1,315
Total Shares Outstanding	1,776.9	1,831.2	1,823.5	1,853.2	1,893.2	1,880.6	1,285.7	1,332.4	1,345.3	1,332.7	1,321.5
Diluted Weighted Average Shares Outstanding	1,822.8	1,834	1,831	1,894	1,897	1,435	1,320	1,361	1,353	1,334	1,327
EBITDA	6,553	3,813	2,106	6,109	4,742	1,305	1,877	1,811	1,182	761	240
Effective Tax Rate	22.2%	22.8%	20.6%	23.5%	24.1%	23.3%	23.6%	23.1%	35.5%	36.9%	36.5%