Charles Schwab 2015 Annual Report Download - page 107

Download and view the complete annual report

Please find page 107 of the 2015 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 150

  • 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
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150

THE CHARLES SCHWAB CORPORATION
Notes to Consolidated Financial Statements
(Tabular Amounts in Millions, Except Per Share Data, Option Price Amounts, Ratios, or as Noted)
- 87 -
Fair Value of Other Financial Instruments
Descriptions of the valuation methodologies and assumptions used to estimate the fair value of other financial instruments are
also described in “Notes – 2. Summary of Significant Accounting Policies.” There were no significant changes in these
methodologies or assumptions during 2015. The following tables present the fair value hierarchy for other financial
instruments:
Quoted Prices
in Active Markets Significant Significant
for Identical Other Observable Unobservable
Carrying Assets Inputs Inputs Balance at
December 31, 2015 Amount (Level 1) (Level 2) (Level 3) Fair Value
Assets:
Cash and cash equivalents $ 9,650 $ - $ 9,650 $ - $ 9,650
Cash and investments segregated and      
on deposit for regulatory purposes 11,647 - 11,647 - 11,647
Receivables from brokers, dealers, and  
clearing organizations 582 - 582 - 582
Receivables from brokerage clients – net 17,310 - 17,310 - 17,310
Securities held to maturity:
U.S. agency mortgage-backed securities 48,785 - 48,883 - 48,883
Non-agency commercial mortgage-backed
securities 999 - 985 - 985
U.S. Treasury securities 223 - 220 - 220
Total securities held to maturity 50,007 - 50,088 - 50,088
Bank loans: (1)
Residential real estate mortgages 8,334 - 8,347 - 8,347
Home equity loans and lines of credit 2,735 - 2,857 - 2,857
Pledged asset lines 3,232 - 3,232 - 3,232
Other 64 - 64 - 64
Total bank loans 14,365 - 14,500 - 14,500
Other assets 184 - 184 - 184
Total $ 103,745 $- $ 103,961 $ - $ 103,961
Liabilities:
Bank deposits $ 129,502 $- $ 129,502 $ - $ 129,502
Payables to brokers, dealers, and clearing  
  
organizations 2,588 - 2,588 - 2,588
Payables to brokerage clients 33,185 - 33,185 - 33,185
Accrued expenses and other liabilities 1,115 - 1,115 - 1,115
Long-term debt 2,890 - 2,980 - 2,980
Total $ 169,280 $ - $ 169,370 $ - $ 169,370
(1) The carrying value of bank loans excludes the allowance for loan losses of $31 million at December 31, 2015.