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Variable Interest Entities | 6 Months Ended
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Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Variable Interest Entities | Variable Interest Entities As of June 30, 2025 and December 31, 2024, substantially all of Schwab’s involvement with variable interest entities (VIEs) is through CSB’s Community Reinvestment Act (CRA) related investments and most of these are related to Low-Income Housing Tax Credit (LIHTC) investments. As part of CSB’s community reinvestment initiatives, CSB invests in funds that make equity investments in multifamily affordable housing properties and receives tax credits and other tax benefits for these investments. During the three months ended June 30, 2025 and 2024, CSB recorded amortization of $47 million and $38 million, respectively, and recognized tax credits and other tax benefits of $65 million and $49 million, respectively, associated with these investments. During the six months ended June 30, 2025 and 2024, CSB recorded amortization of $94 million and $80 million, respectively, and recognized tax credits and other tax benefits of $126 million and $102 million, respectively, associated with these investments. The amortization, as well as the tax credits and other tax benefits, are included in taxes on income on the condensed consolidated statements of income. Tax credits and other tax benefits are reflected as cash flows from operating activities on the condensed consolidated statements of cash flows. Aggregate assets, liabilities, and maximum exposure to loss The aggregate assets, liabilities, and maximum exposure to loss from those VIEs in which Schwab holds a variable interest, but is not the primary beneficiary, are summarized in the table below:
|  | June 30, 2025 |  | December 31, 2024
|  | Aggregate assets |  | Aggregate liabilities |  | Maximum exposure to loss |  | Aggregate assets |  | Aggregate liabilities |  | Maximum exposure to loss
LIHTC investments (1) |  | $ | 1,845 |  |  | $ | 991 |  |  | $ | 1,845 |  |  | $ | 1,729 |  |  | $ | 947 |  |  | $ | 1,729 |
Other investments (2) |  | 249 |  |  | — |  |  | 343 |  |  | 224 |  |  | — |  |  | 340 |
Total |  | $ | 2,094 |  |  | $ | 991 |  |  | $ | 2,188 |  |  | $ | 1,953 |  |  | $ | 947 |  |  | $ | 2,069 |
(1) Aggregate assets and aggregate liabilities are included in other assets and accrued expenses and other liabilities, respectively, on the condensed consolidated balance sheets. (2) Other investments include non-LIHTC CRA investments that are accounted for as loans at amortized cost, equity method investments, AFS securities, or using the adjusted cost method. Aggregate assets are included in AFS securities, bank loans – net, or other assets on the condensed consolidated balance sheets. Schwab’s maximum exposure to loss would result from the loss of the investments, including any committed amounts. Schwab’s funding of these remaining commitments is dependent upon the occurrence of certain conditions, and Schwab expects to pay substantially all of these commitments between 2025 and 2028. During the six months ended June 30, 2025 and year ended December 31, 2024, Schwab did not provide or intend to provide financial or other support to the VIEs that it was not contractually required to provide.

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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