Charles Schwab 2014 Annual Report Download - page 82

Download and view the complete annual report

Please find page 82 of the 2014 Charles Schwab annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

THE CHARLES SCHWAB CORPORATION
Notes to Consolidated Financial Statements
(Tabular Amounts in Millions, Except Per Share Data, Option Price Amounts, Ratios, or as Noted)
- 64 -
Gross Gross
Amortized Unrealized Unrealized Fair
December 31, 2013 Cost Gains Losses Value
Securities available for sale:
U.S. agency mortgage-backed securities $ 18,554 $ 140 $ 49 $ 18,645
Asset-backed securities 15,201 42 37 15,206
Corporate debt securities 8,973 49 15 9,007
U.S. agency notes 4,239 1 104 4,136
Certificates of deposit 3,650 4 2 3,652
N
on-agency residential mortgage-backed securities 616 11 34 593
N
on-agency commercial mortgage-backed securities 271 8 - 279
Other securities 100 - - 100
Total securities available for sale $ 51,604 $ 255 $ 241 $ 51,618
Securities held to maturity:
U.S. agency mortgage-backed securities $ 29,260 $ 161 $ 921 $ 28,500
N
on-agency commercial mortgage-backed securities 958
-
68 890
Other securities 100 - - 100
Total securities held to maturity $ 30,318 $ 161 $ 989 $ 29,490
Schwab Bank pledges securities issued by federal agencies to secure certain trust deposits. The fair value of these pledged
securities was $132 million at December 31, 2014.
A summary of securities with unrealized losses, aggregated by category and period of continuous unrealized loss, is as
follows:
Less than 12 months
12 months or longer Total
Fair Unrealized Fair Unrealized Fair Unrealized
December 31, 2014 Value Losses Value Losses Value Losses
Securities available for sale:
Asset-backed securities $ 5,754 $ 15 $ 792 $ 3
$ 6,546 $ 18
U.S agency mortgage-backed securities 2,247
5 1,767 7 4,014 12
Corporate debt securities 1,781 4 552 4 2,333 8
U.S. agency notes - - 3,696 44 3,696 44
Treasury securities 1,246 1 - - 1,246 1
Total $ 11,028 $ 25 $ 6,807
$ 58 $ 17,835 $ 83
Securities held to maturity:
U.S. agency mortgage-backed securities $ 264 $ 1 $ 10,415 $ 173 $ 10,679 $ 174
N
on-agency commercial mortgage-backed
securities - - 660 14 660 14
Total $ 264 $ 1 $ 11,075 $ 187 $ 11,339 $ 188
Total securities with unrealized losses (1) $ 11,292 $ 26 $ 17,882 $ 245 $ 29,174 $ 271
(1) The number of investment positions with unrealized losses totaled 173 for securities available for sale and 111 for
securities held to maturity.