Charles Schwab
(NYSE:SCHW)

The Charles Schwab Corporation, through 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...

Website: http://www.aboutschwab.com

Founded: 1971

Full Time Employees: 22,100

CEO: Walter W Bettinger II

Sector: Financial Services

Industry: Capital Markets

Brokers Financial Services

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At a glance:

Scale and Asset-Driven Earnings Model: Schwab’s earnings are primarily driven by client assets and net interest revenue, with brokerage and advisory fees providing additional diversification.
Interest-Rate Sensitivity Remains a Key Swing Factor: Changes in short-term rates and yield-curve dynamics can materially impact net interest margin and profitability, making the company’s results highly rate-sensitive.
Client Cash Sorting and Deposit Mix in Focus: How clients allocate cash between bank deposits, money market funds, and other products affects funding costs and interest revenue; management’s ability to stabilize deposit mix is a central metric.
Balance Sheet and Liquidity Management as a Priority: Maintaining strong liquidity and managing securities portfolio duration/mark-to-market dynamics are ongoing priorities, especially after industry-wide scrutiny of bank funding profiles.
Long-Term Tailwinds from Investing and Retirement Trends: Secular growth in retail investing, retirement rollovers, and advisory adoption can support asset gathering and fee growth over time, provided market conditions and client engagement remain healthy.

Bull Thesis:

Strong Net Interest Income (NII) Growth: Charles Schwab significantly benefits from higher interest rates, leading to robust growth in Net Interest Income from client cash balances, which forms a substantial portion of its revenue base.
Unrivaled Scale and Client Stickiness: With trillions in client assets and millions of accounts, Schwab enjoys massive economies of scale, strong brand loyalty, and a sticky client base, providing a significant competitive moat in the financial services industry.
Successful TD Ameritrade Integration Synergies: The integration of TD Ameritrade is largely complete, yielding substantial cost synergies, an expanded client base, and enhanced product offerings, positioning Schwab for long-term growth and market leadership.
Diversified Revenue Streams: Schwab's revenue model is diversified across asset management fees, advisory services, banking, and trading, reducing reliance on any single source and providing resilience across various market cycles and economic conditions.

Bear Thesis:

Interest Rate Reversal Risk: A significant decline in interest rates would negatively impact Schwab's Net Interest Income, which has been a major profit driver, potentially compressing margins and overall profitability.
Client Cash Sorting and Deposit Outflows: Clients are increasingly moving cash from low-yielding sweep accounts to higher-yielding money market funds or external investments, leading to deposit outflows and reduced Net Interest Income for Schwab.
Intense Competition and Fee Compression: The brokerage industry faces fierce competition from traditional rivals and fintechs, leading to ongoing pressure on fees, particularly in trading commissions and advisory services, impacting profitability.
Regulatory Scrutiny and Compliance Costs: As a large financial institution, Schwab is subject to extensive regulatory oversight, which can result in high compliance costs, potential fines, and operational restrictions that impact its business model.

Main Competitors:

Fidelity Investments (Full-service brokerage, wealth management, retirement services, banking, mutual funds, ETFs.), Fidelity is Schwab's most direct and comprehensive competitor, offering a wide array of services including self-directed brokerage, active trading platforms, extensive mutual fund and ETF offerings, wealth management, retirement planning, and banking solutions. They compete fiercely on fees, product breadth, and customer service, often targeting similar affluent and mass-affluent investor segments.
Vanguard (Low-cost mutual funds, ETFs, brokerage services, financial advisory.), Vanguard competes primarily through its reputation for low-cost index funds and ETFs, which directly appeal to cost-conscious investors. While historically focused on passive investing, Vanguard has expanded its brokerage and advisory services, including robo-advisors and hybrid models, challenging Schwab's wealth management offerings with a strong value proposition.
E*TRADE (Morgan Stanley) ($MS) (Online brokerage, active trading, banking, wealth management.), E*TRADE, now part of Morgan Stanley, is a significant online brokerage competitor, particularly strong with active traders and self-directed investors. It offers robust trading platforms, commission-free stock and ETF trading, banking services, and financial guidance, directly competing with Schwab's core brokerage and banking segments.
J.P. Morgan Wealth Management ($JPM) (Full-service wealth management, brokerage, banking, lending.), J.P. Morgan Wealth Management represents the competition from large universal banks. It leverages its extensive banking network and brand recognition to offer comprehensive wealth management, brokerage, and private banking services, often targeting high-net-worth individuals and families. They compete with Schwab's advisory and banking services by integrating financial planning with broader banking and lending solutions.
Robinhood Markets, Inc. ($HOOD) (Commission-free stock, ETF, options, and crypto trading.), Robinhood competes by attracting a younger demographic and new investors with its user-friendly mobile app, commission-free trading, and fractional share investing. While Schwab also offers commission-free trading, Robinhood's simplified interface and focus on digital-first engagement challenge Schwab's ability to capture and retain the next generation of investors.

Moat:

Charles Schwab's moat primarily stems from its massive scale, strong brand recognition, comprehensive product suite (brokerage, wealth management, banking, custody), and integrated technology platform. Its acquisition of TD Ameritrade further solidified its position as a market leader. Competition is intense across all segments: from traditional rivals like Fidelity and Vanguard on price and product breadth, from large banks like J.P. Morgan on integrated wealth solutions, and from fintech disruptors like Robinhood on user experience and attracting new demographics. Schwab's challenge is to continue innovating and maintaining its cost advantage while catering to diverse client needs, from self-directed traders to high-net-worth individuals seeking personalized advice.

Income Statements:

Quarterly

Annual

Unit: USD	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31

net revenues
interest revenue	4,146,000,000	3,962,000,000	4,004,000,000	3,956,000,000	3,787,000,000	3,757,000,000	3,851,000,000	3,928,000,000	3,817,000,000	3,941,000,000	3,963,000,000	4,028,000,000	4,104,000,000	4,016,000,000	3,841,000,000	3,357,000,000	2,710,000,000	2,319,000,000	2,270,000,000	2,153,000,000	2,068,000,000	2,015,000,000	1,905,000,000	1,432,000,000	1,486,000,000	1,708,000,000	1,763,000,000	1,892,000,000	1,927,000,000	472,000,000	436,000,000	487,000,000	496,000,000	481,000,000
interest expense	-789,000,000	-818,000,000	-832,000,000	-906,000,000	-965,000,000	-1,051,000,000	-1,320,000,000	-1,706,000,000	-1,659,000,000	-1,708,000,000	-1,833,000,000	-1,791,000,000	-1,814,000,000	-1,246,000,000	-812,000,000	-431,000,000	-166,000,000	-136,000,000	-128,000,000	-123,000,000	-121,000,000	-104,000,000	-96,000,000	-89,000,000	-97,000,000	-136,000,000	-168,000,000	-261,000,000	-318,000,000	-38,000,000	-41,000,000	-44,000,000	-45,000,000	-45,000,000
net interest revenue	3,357,000,000	3,144,000,000	3,172,000,000	3,050,000,000	2,822,000,000	2,706,000,000	2,531,000,000	2,222,000,000	2,158,000,000	2,233,000,000	2,130,000,000	2,237,000,000	2,290,000,000	2,770,000,000	3,029,000,000	2,926,000,000	2,544,000,000	2,183,000,000	2,142,000,000	2,030,000,000	1,947,000,000	1,911,000,000	1,809,000,000	1,343,000,000	1,389,000,000	1,572,000,000	1,595,000,000	1,631,000,000	1,609,000,000	434,000,000	395,000,000	443,000,000	451,000,000	436,000,000
asset management and administration fees	1,825,000,000	1,759,000,000	1,733,000,000	1,673,000,000	1,570,000,000	1,530,000,000	1,509,000,000	1,476,000,000	1,383,000,000	1,348,000,000	1,241,000,000	1,224,000,000	1,173,000,000	1,118,000,000	1,049,000,000	1,047,000,000	1,052,000,000	1,068,000,000	1,110,000,000	1,101,000,000	1,047,000,000	1,016,000,000	987,000,000	860,000,000	801,000,000	827,000,000	845,000,000	825,000,000	786,000,000	484,000,000	458,000,000	466,000,000	502,000,000	502,000,000
trading revenue	1,215,000,000	1,089,000,000	1,066,000,000	995,000,000	952,000,000	908,000,000	873,000,000	797,000,000	777,000,000	817,000,000	767,000,000	768,000,000	803,000,000	892,000,000	895,000,000	930,000,000	885,000,000	963,000,000	1,017,000,000	964,000,000	955,000,000	1,216,000,000	854,000,000	181,000,000	193,000,000	188,000,000	86,000,000	172,000,000	174,000,000	243,000,000	233,000,000	248,000,000	205,000,000	241,000,000
bank deposit account fees	333,000,000	295,000,000	238,000,000	247,000,000	247,000,000	245,000,000	241,000,000	152,000,000	153,000,000	183,000,000	174,000,000	205,000,000	175,000,000	151,000,000	350,000,000	413,000,000	352,000,000	294,000,000	304,000,000	323,000,000	337,000,000	351,000,000
other	342,000,000	195,000,000	127,000,000	170,000,000	260,000,000	210,000,000	175,000,000	200,000,000	219,000,000	159,000,000	147,000,000	172,000,000	215,000,000	185,000,000	174,000,000	184,000,000	260,000,000	164,000,000	135,000,000	152,000,000	241,000,000	221,000,000	171,000,000	64,000,000	67,000,000	30,000,000	80,000,000	83,000,000	112,000,000	46,000,000	41,000,000	45,000,000	35,000,000	39,000,000
total net revenues	7,072,000,000	6,482,000,000	6,336,000,000	6,135,000,000	5,851,000,000	5,599,000,000	5,329,000,000	4,847,000,000	4,690,000,000	4,740,000,000	4,459,000,000	4,606,000,000	4,656,000,000	5,116,000,000	5,497,000,000	5,500,000,000	5,093,000,000	4,672,000,000	4,708,000,000	4,570,000,000	4,527,000,000	4,715,000,000	4,176,000,000	2,448,000,000	2,450,000,000	2,617,000,000	2,606,000,000	2,711,000,000	2,681,000,000	1,189,000,000	1,113,000,000	1,181,000,000	1,190,000,000	1,207,000,000
expenses excluding interest
compensation and benefits	1,790,000,000	1,812,000,000	1,630,000,000	1,653,000,000	1,536,000,000	1,672,000,000	1,533,000,000	1,522,000,000	1,450,000,000	1,538,000,000	1,409,000,000	1,770,000,000	1,498,000,000	1,638,000,000	1,488,000,000	1,476,000,000	1,426,000,000	1,546,000,000	1,399,000,000	1,303,000,000	1,318,000,000	1,430,000,000	1,398,000,000	840,000,000	819,000,000	897,000,000	806,000,000	857,000,000	807,000,000	465,000,000	442,000,000	423,000,000	430,000,000	437,000,000
professional services	307,000,000	303,000,000	344,000,000	293,000,000	291,000,000	269,000,000	297,000,000	256,000,000	259,000,000	241,000,000	253,000,000	275,000,000	272,000,000	258,000,000	266,000,000	264,000,000	258,000,000	244,000,000	271,000,000	250,000,000	247,000,000	226,000,000	269,000,000	194,000,000	198,000,000	182,000,000	186,000,000	168,000,000	178,000,000	96,000,000	99,000,000	104,000,000	92,000,000	92,000,000
occupancy and equipment	301,000,000	285,000,000	293,000,000	280,000,000	270,000,000	274,000,000	276,000,000	271,000,000	248,000,000	265,000,000	331,000,000	305,000,000	319,000,000	299,000,000	320,000,000	292,000,000	294,000,000	269,000,000	254,000,000	246,000,000	239,000,000	237,000,000	254,000,000	155,000,000	152,000,000	142,000,000	151,000,000	144,000,000	133,000,000	76,000,000	79,000,000	78,000,000	73,000,000	71,000,000
advertising and market development	111,000,000	101,000,000	115,000,000	101,000,000	108,000,000	96,000,000	101,000,000	101,000,000	107,000,000	88,000,000	104,000,000	102,000,000	103,000,000	88,000,000	123,000,000	89,000,000	105,000,000	102,000,000	122,000,000	119,000,000	128,000,000	116,000,000	123,000,000	66,000,000	70,000,000	67,000,000	90,000,000	71,000,000	77,000,000	67,000,000	69,000,000	48,000,000	51,000,000	60,000,000
communications	198,000,000	163,000,000	142,000,000	149,000,000	176,000,000	153,000,000	131,000,000	147,000,000	172,000,000	141,000,000	144,000,000	151,000,000	188,000,000	146,000,000	144,000,000	131,000,000	169,000,000	144,000,000	130,000,000	144,000,000	166,000,000	147,000,000	127,000,000	73,000,000	78,000,000	75,000,000	66,000,000	63,000,000	62,000,000	58,000,000	54,000,000	56,000,000	54,000,000	56,000,000
depreciation and amortization	198,000,000	201,000,000	206,000,000	212,000,000	215,000,000	217,000,000	224,000,000	231,000,000	233,000,000	228,000,000	238,000,000	198,000,000	191,000,000	177,000,000	176,000,000	167,000,000	159,000,000	150,000,000	145,000,000	140,000,000	135,000,000	129,000,000	130,000,000	97,000,000	109,000,000	96,000,000	94,000,000	88,000,000	84,000,000	48,000,000	48,000,000	39,000,000	33,000,000	35,000,000
amortization of acquired intangible assets	142,000,000	132,000,000	127,000,000	127,000,000	128,000,000	130,000,000	130,000,000	130,000,000	129,000,000	130,000,000	130,000,000	135,000,000	134,000,000	135,000,000	136,000,000	152,000,000	154,000,000	154,000,000	154,000,000	153,000,000	154,000,000	154,000,000	147,000,000	25,000,000
regulatory fees and assessments	63,000,000	75,000,000	62,000,000	59,000,000	77,000,000	89,000,000	89,000,000	88,000,000	96,000,000	125,000,000	270,000,000	114,000,000	80,000,000	83,000,000	62,000,000	65,000,000	67,000,000	68,000,000	67,000,000	64,000,000	66,000,000	78,000,000	57,000,000	36,000,000	36,000,000	34,000,000	30,000,000	30,000,000	30,000,000
total expenses excluding interest	3,403,000,000	3,294,000,000	3,156,000,000	3,114,000,000	3,048,000,000	3,144,000,000	3,024,000,000	3,005,000,000	2,943,000,000	2,942,000,000	3,265,000,000	3,223,000,000	2,965,000,000	3,006,000,000	2,899,000,000	2,823,000,000	2,819,000,000	2,833,000,000	2,685,000,000	2,559,000,000	2,808,000,000	2,755,000,000	2,700,000,000	1,559,000,000	1,562,000,000	1,570,000,000	1,494,000,000	1,475,000,000	1,445,000,000	876,000,000	861,000,000	821,000,000	804,000,000	813,000,000
income before taxes on income	3,669,000,000	3,188,000,000	3,180,000,000	3,021,000,000	2,803,000,000	2,455,000,000	2,305,000,000	1,842,000,000	1,747,000,000	1,798,000,000	1,194,000,000	1,383,000,000	1,691,000,000	2,110,000,000	2,598,000,000	2,677,000,000	2,274,000,000	1,839,000,000	2,023,000,000	2,011,000,000	1,719,000,000	1,960,000,000	1,476,000,000	889,000,000	888,000,000	1,047,000,000	1,112,000,000	1,236,000,000	1,236,000,000	313,000,000	252,000,000	360,000,000	386,000,000	394,000,000
taxes on income	869,000,000	709,000,000	721,000,000	663,000,000	677,000,000	546,000,000	465,000,000	434,000,000	415,000,000	436,000,000	149,000,000	258,000,000	397,000,000	507,000,000	630,000,000	657,000,000	481,000,000	437,000,000	443,000,000	485,000,000	454,000,000	476,000,000	341,000,000	191,000,000	217,000,000	252,000,000	260,000,000	285,000,000	299,000,000	-118,000,000	-89,000,000	-140,000,000	-148,000,000	-151,000,000
net income	2,800,000,000	2,479,000,000	2,459,000,000	2,358,000,000	2,126,000,000	1,909,000,000	1,840,000,000	1,408,000,000	1,332,000,000	1,362,000,000	1,045,000,000	1,125,000,000	1,294,000,000	1,603,000,000	1,968,000,000	2,020,000,000	1,793,000,000	1,402,000,000	1,580,000,000	1,526,000,000	1,265,000,000	1,484,000,000	1,135,000,000	698,000,000	671,000,000	795,000,000	852,000,000	951,000,000	937,000,000	195,000,000	163,000,000	220,000,000	238,000,000	243,000,000
yoy	31.70%	29.86%	33.64%	67.47%	59.61%	40.16%	76.08%	25.16%	2.94%	-15.03%	-46.90%	-44.31%	-27.83%	14.34%	24.56%	32.37%	41.74%	-5.53%	39.21%	118.62%	88.52%	86.67%	33.22%	-26.60%	-28.39%	307.69%	422.70%	332.27%	293.70%	-19.75%
qoq	12.95%	0.81%	4.28%	10.91%	11.37%	3.75%	30.68%	5.71%	-2.20%	30.33%	-7.11%	-13.06%	-19.28%	-18.55%	-2.57%	12.66%	27.89%	-11.27%	3.54%	20.63%	-14.76%	30.75%	62.61%	4.02%	-15.60%	-6.69%	-10.41%	1.49%	380.51%	19.63%	-25.91%	-7.56%	-2.06%
preferred stock dividends and other	119,000,000	82,000,000	92,000,000	81,000,000	149,000,000	113,000,000	123,000,000	109,000,000	121,000,000	111,000,000	119,000,000	108,000,000	121,000,000	70,000,000	147,000,000	136,000,000	141,000,000	124,000,000	131,000,000	120,000,000	148,000,000	96,000,000	85,000,000	83,000,000	50,000,000	38,000,000	51,000,000	38,000,000	50,000,000
net income available to common stockholders	2,681,000,000	2,397,000,000	2,367,000,000	2,277,000,000	1,977,000,000	1,796,000,000	1,717,000,000	1,299,000,000	1,211,000,000	1,251,000,000	926,000,000	1,017,000,000	1,173,000,000	1,533,000,000	1,821,000,000	1,884,000,000	1,652,000,000	1,278,000,000	1,449,000,000	1,406,000,000	1,117,000,000	1,388,000,000	1,050,000,000	615,000,000	621,000,000	757,000,000	801,000,000	913,000,000	887,000,000
weighted-average common shares outstanding:
basic	1,735,000,000	1,746,000,000	1,804,000,000	1,806,000,000	1,817,000,000	1,817,000,000	1,828,000,000	1,829,000,000	1,828,000,000	1,825,000,000	1,824,000,000	1,821,000,000	1,820,000,000	1,834,000,000	1,885,000,000	1,887,000,000	1,896,000,000	1,894,000,000	1,887,000,000	1,888,000,000	1,886,000,000	1,882,000,000	1,429,000,000	1,289,000,000	1,288,000,000	1,287,000,000	1,311,000,000	1,300,000,000	1,328,000,000
diluted	1,739,000,000	1,752,000,000	1,809,000,000	1,811,000,000	1,822,000,000	1,822,000,000	1,834,000,000	1,834,000,000	1,834,000,000	1,831,000,000	1,831,000,000	1,827,000,000	1,825,000,000	1,842,000,000	1,894,000,000	1,895,000,000	1,904,000,000	1,905,000,000	1,897,000,000	1,898,000,000	1,896,000,000	1,892,000,000	1,435,000,000	1,294,000,000	1,294,000,000	1,294,000,000	1,320,000,000	1,308,000,000	1,337,000,000
earnings per common shares outstanding :
basic	1,550,000	1,370,000	1,340,000	1,260,000	1,090,000	990,000	940,000	710,000	660,000	690,000	510,000	560,000	640,000	840,000	980,000	1,000,000	870,000	670,000	770,000	740,000	590,000	740,000	580,000	480,000	480,000	590,000	630,000	700,000	670,000
diluted	1,540,000	1,370,000	1,320,000	1,260,000	1,080,000	990,000	940,000	710,000	660,000	680,000	510,000	560,000	640,000	830,000	970,000	990,000	870,000	670,000	770,000	740,000	590,000	730,000	580,000	480,000	480,000	580,000	620,000	700,000	660,000
earnings per common shares outstanding
basic	1,550,000	1,370,000	1,340,000	1,260,000	1,090,000	990,000	940,000	710,000	660,000	690,000	510,000	560,000	640,000	840,000	980,000	1,000,000	870,000	670,000	770,000	740,000	590,000	740,000	580,000	480,000	480,000	590,000	630,000	700,000	670,000
diluted	1,540,000	1,370,000	1,320,000	1,260,000	1,080,000	990,000	940,000	710,000	660,000	680,000	510,000	560,000	640,000	830,000	970,000	990,000	870,000	670,000	770,000	740,000	590,000	730,000	580,000	480,000	480,000	580,000	620,000	700,000	660,000
earnings per common shares outstanding:
basic	1,550,000	1,370,000	1,340,000	1,260,000	1,090,000	990,000	940,000	710,000	660,000	690,000	510,000	560,000	640,000	840,000	980,000	1,000,000	870,000	670,000	770,000	740,000	590,000	740,000	580,000	480,000	480,000	590,000	630,000	700,000	670,000
diluted	1,540,000	1,370,000	1,320,000	1,260,000	1,080,000	990,000	940,000	710,000	660,000	680,000	510,000	560,000	640,000	830,000	970,000	990,000	870,000	670,000	770,000	740,000	590,000	730,000	580,000	480,000	480,000	580,000	620,000	700,000	660,000
provision for loan losses																															-5,000,000	-8,000,000	-1,000,000	-4,000,000
net impairment losses on securities																														-18,000,000	-9,000,000	-13,000,000	-2,000,000	-7,000,000
weighted-average common shares outstanding — diluted																														1,273,000,000	1,229,000,000	1,229,000,000	1,210,000,000	1,207,000,000
earnings per share — basic																														0.15	0.12	0.18	0.2	0.2
earnings per share — diluted																														0.15	0.13	0.18	0.2	0.2
class action litigation and regulatory reserve																																	7,000,000
money market mutual fund charges
class action litigation reserve

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31

assets
cash and cash equivalents	40,580,000,000	44,975,000,000	46,030,000,000	30,572,000,000	32,195,000,000	35,009,000,000	42,083,000,000	34,850,000,000	25,350,000,000	31,752,000,000	43,337,000,000	33,251,000,000	47,651,000,000	49,162,000,000	40,195,000,000	46,486,000,000	64,550,000,000	91,126,000,000	62,975,000,000	34,323,000,000	30,337,000,000	48,182,000,000	40,348,000,000	27,465,000,000	33,574,000,000	68,458,000,000	29,345,000,000	20,252,000,000	24,199,000,000	32,558,000,000	27,938,000,000	21,830,000,000	13,250,000,000	14,145,000,000	14,217,000,000	12,253,000,000	9,575,000,000	9,475,000,000	10,828,000,000	10,431,000,000	12,976,000,000	10,457,000,000	11,978,000,000	10,366,000,000	9,017,000,000	9,011,000,000	6,832,000,000	7,173,000,000	7,362,000,000	6,234,000,000	6,931,000,000	12,663,000,000	8,523,000,000	8,089,000,000	6,794,000,000	8,679,000,000	6,376,000,000	6,466,000,000	5,548,000,000	4,931,000,000
cash and investments segregated and on deposit for regulatory purposes	33,011,000,000	39,778,000,000	42,931,000,000	47,754,000,000	45,568,000,000	38,408,000,000	38,221,000,000	33,671,000,000	21,737,000,000	25,905,000,000	31,836,000,000	18,576,000,000	25,083,000,000	31,037,000,000	42,983,000,000	44,118,000,000	53,466,000,000	54,445,000,000	53,949,000,000	42,300,000,000	39,919,000,000	40,423,000,000	50,399,000,000	29,579,000,000	33,188,000,000	34,309,000,000	20,483,000,000	16,164,000,000	14,146,000,000	13,924,000,000	13,563,000,000	8,487,000,000	11,012,000,000	12,823,000,000																	26,897,000,000	28,469,000,000	25,041,000,000	22,723,000,000	26,905,000,000	26,034,000,000	27,009,000,000	23,842,000,000	23,071,000,000	22,749,000,000
receivables from brokers, dealers, and clearing organizations	22,004,000,000	11,808,000,000	7,190,000,000	4,728,000,000	4,304,000,000	2,938,000,000	2,440,000,000																					1,317,000,000	463,000,000	616,000,000	553,000,000	798,000,000	1,025,000,000	894,000,000	649,000,000	665,000,000	910,000,000	721,000,000	728,000,000	947,000,000	1,008,000,000	1,105,000,000	582,000,000	583,000,000	917,000,000	457,000,000	522,000,000	482,000,000	511,000,000	395,000,000	467,000,000	333,000,000	607,000,000	317,000,000	588,000,000	230,000,000	562,000,000	456,000,000	495,000,000	415,000,000
receivables from brokerage clients — net	122,848,000,000	106,211,000,000	104,660,000,000	93,788,000,000	82,785,000,000	84,449,000,000	85,374,000,000	74,016,000,000	72,836,000,000	71,169,000,000	68,667,000,000	69,062,000,000	65,162,000,000	63,187,000,000	66,591,000,000	73,859,000,000	76,130,000,000	84,070,000,000	90,565,000,000	86,553,000,000	82,245,000,000	74,711,000,000	64,440,000,000	25,441,000,000	21,421,000,000	19,001,000,000	21,767,000,000	21,069,000,000	21,428,000,000	20,529,000,000	21,651,000,000	22,411,000,000	22,351,000,000	21,153,000,000	20,576,000,000	18,461,000,000	17,993,000,000	16,729,000,000	17,155,000,000	16,380,000,000	16,822,000,000	15,961,000,000	17,313,000,000	17,089,000,000	16,618,000,000	16,013,000,000	14,670,000,000	14,571,000,000	13,124,000,000	12,825,000,000	12,454,000,000	13,458,000,000	11,914,000,000	11,955,000,000	11,207,000,000	11,072,000,000	11,081,000,000	11,644,000,000	11,311,000,000	11,235,000,000
available for sale securities	62,467,000,000	61,090,000,000	62,357,000,000	62,308,000,000	67,612,000,000	74,828,000,000	82,994,000,000	90,018,000,000	93,562,000,000	101,086,000,000	107,646,000,000	110,272,000,000	125,769,000,000	141,334,000,000	147,871,000,000	236,517,000,000	265,277,000,000	272,049,000,000	390,054,000,000	376,968,000,000	359,622,000,000	342,006,000,000	337,400,000,000	303,758,000,000	281,216,000,000	221,232,000,000	61,422,000,000	56,483,000,000	54,648,000,000	60,005,000,000	66,578,000,000	57,558,000,000	55,522,000,000	51,827,000,000	49,995,000,000	48,062,000,000	45,634,000,000	50,588,000,000	77,365,000,000
held to maturity securities	130,568,000,000	131,671,000,000	133,969,000,000	136,693,000,000	139,684,000,000	143,815,000,000	146,453,000,000	149,862,000,000	153,179,000,000	156,371,000,000	159,452,000,000	162,452,000,000	166,328,000,000	169,911,000,000	173,074,000,000	96,323,000,000	100,117,000,000	105,286,000,000									134,706,000,000	140,194,000,000	138,326,000,000	132,420,000,000	144,009,000,000	138,952,000,000	136,792,000,000	125,683,000,000
bank loans — net	66,996,000,000	60,872,000,000	57,955,000,000	53,570,000,000	50,405,000,000	47,121,000,000	45,215,000,000	43,311,000,000	42,182,000,000	40,783,000,000	40,439,000,000	40,327,000,000	40,061,000,000	39,964,000,000	40,505,000,000	40,379,000,000	39,564,000,000	37,207,000,000	34,636,000,000	31,570,000,000	28,895,000,000	25,421,000,000	23,813,000,000	22,286,000,000	20,871,000,000	19,521,000,000	18,212,000,000	16,895,000,000	16,639,000,000	16,510,000,000	16,609,000,000	16,564,000,000	16,569,000,000	16,389,000,000	16,478,000,000	16,232,000,000	15,817,000,000	15,548,000,000	15,403,000,000	14,858,000,000	14,670,000,000	14,417,000,000	14,334,000,000	14,252,000,000	14,014,000,000	13,603,000,000
equipment, office facilities, and property — net	3,659,000,000	3,065,000,000	3,091,000,000	3,136,000,000	3,197,000,000	3,276,000,000	3,338,000,000	3,340,000,000	3,436,000,000	3,584,000,000	3,690,000,000	3,730,000,000	3,686,000,000	3,716,000,000	3,714,000,000	3,687,000,000	3,670,000,000	3,499,000,000	3,442,000,000	3,164,000,000	3,136,000,000	3,054,000,000	2,883,000,000	2,346,000,000	2,314,000,000	2,291,000,000	2,128,000,000	2,017,000,000	1,909,000,000	1,813,000,000	1,769,000,000	1,683,000,000	1,599,000,000	1,540,000,000	1,471,000,000	1,392,000,000	1,335,000,000	1,305,000,000	1,299,000,000	1,266,000,000	1,242,000,000	1,159,000,000	1,145,000,000	1,126,000,000	1,091,000,000	1,058,000,000	883,000,000	820,000,000	738,000,000	711,000,000	681,000,000	675,000,000	672,000,000	677,000,000	684,000,000	685,000,000	665,000,000	639,000,000	627,000,000	624,000,000
goodwill	12,290,000,000	12,298,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,951,000,000	11,952,000,000	11,952,000,000	11,952,000,000	11,952,000,000	11,952,000,000	11,952,000,000	1,737,000,000	1,733,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,227,000,000	1,231,000,000	1,231,000,000	1,228,000,000	1,159,000,000	1,165,000,000	1,164,000,000	1,161,000,000	1,138,000,000	631,000,000	631,000,000	631,000,000
acquired intangible assets — net	7,283,000,000	7,413,000,000	7,233,000,000	7,360,000,000	7,487,000,000	7,615,000,000	7,743,000,000	7,873,000,000	8,003,000,000	8,131,000,000	8,260,000,000	8,390,000,000	8,524,000,000	8,659,000,000	8,789,000,000	8,923,000,000	9,075,000,000	9,227,000,000	9,379,000,000	9,532,000,000	9,686,000,000	9,838,000,000	9,991,000,000	1,258,000,000	1,278,000,000
other assets	15,560,000,000	14,138,000,000	13,628,000,000	13,395,000,000	13,748,000,000	13,493,000,000	14,031,000,000	17,163,000,000	17,439,000,000	18,052,000,000	17,900,000,000	17,193,000,000	17,290,000,000	16,631,000,000	16,099,000,000	15,320,000,000	13,757,000,000	12,089,000,000	10,318,000,000	11,186,000,000	8,740,000,000	7,870,000,000	7,783,000,000	5,485,000,000	4,889,000,000	4,740,000,000	4,715,000,000	2,872,000,000	2,798,000,000	2,692,000,000	2,046,000,000	2,092,000,000	1,917,000,000	2,038,000,000	1,949,000,000	1,571,000,000	1,432,000,000	1,317,000,000	1,408,000,000	1,292,000,000	1,291,000,000	1,185,000,000	1,174,000,000	966,000,000	882,000,000	856,000,000	780,000,000	740,000,000	770,000,000	758,000,000	787,000,000	813,000,000	775,000,000	767,000,000	783,000,000	818,000,000	774,000,000	957,000,000	958,000,000	981,000,000
total assets	517,266,000,000	493,319,000,000	490,995,000,000	465,255,000,000	458,936,000,000	462,903,000,000	479,843,000,000	466,055,000,000	449,675,000,000	468,784,000,000	493,178,000,000	475,204,000,000	511,505,000,000	535,552,000,000	551,772,000,000	577,563,000,000	637,557,000,000	680,950,000,000	667,270,000,000	607,548,000,000	574,532,000,000	563,457,000,000	549,009,000,000	419,355,000,000	400,484,000,000	370,779,000,000	294,005,000,000	278,987,000,000	276,321,000,000	282,815,000,000	296,482,000,000	272,102,000,000	261,882,000,000	248,320,000,000	243,274,000,000	230,714,000,000	220,601,000,000	227,061,000,000	223,383,000,000	209,337,000,000	198,052,000,000	190,998,000,000	183,718,000,000	170,402,000,000	163,627,000,000	160,169,000,000	143,401,000,000	144,066,000,000	140,211,000,000	135,907,000,000	133,324,000,000	133,637,000,000	117,658,000,000	111,816,000,000	111,482,000,000	108,553,000,000	102,906,000,000	97,572,000,000	94,883,000,000	92,568,000,000
liabilities and stockholders’ equity
bank deposits	249,682,000,000	253,041,000,000	255,747,000,000	239,057,000,000	233,058,000,000	246,160,000,000	259,121,000,000	246,462,000,000	252,420,000,000	269,460,000,000	289,953,000,000	284,408,000,000	304,414,000,000	325,745,000,000	366,724,000,000	395,715,000,000	442,003,000,000	465,827,000,000	443,778,000,000	395,275,000,000	368,638,000,000	369,898,000,000	358,022,000,000	320,717,000,000	301,566,000,000	277,477,000,000	220,094,000,000	209,327,000,000	208,375,000,000	219,454,000,000	231,423,000,000	213,408,000,000	199,922,000,000	190,184,000,000	169,656,000,000	165,263,000,000	162,300,000,000	166,889,000,000	163,454,000,000	149,630,000,000	137,295,000,000	135,689,000,000	129,502,000,000	119,017,000,000	112,911,000,000	109,503,000,000
payables to brokers, dealers, and clearing organizations	43,826,000,000	28,107,000,000	25,689,000,000	22,407,000,000	18,584,000,000	15,744,000,000	13,336,000,000																					1,736,000,000	4,622,000,000	1,602,000,000	1,831,000,000	1,522,000,000	3,319,000,000	1,122,000,000	1,287,000,000	5,427,000,000	1,934,000,000	2,643,000,000	2,407,000,000	3,497,000,000	3,392,000,000	2,848,000,000	2,588,000,000	2,707,000,000	2,518,000,000	2,410,000,000	1,725,000,000	1,918,000,000	1,207,000,000	2,150,000,000	1,152,000,000	1,068,000,000	1,445,000,000	1,332,000,000	1,219,000,000	1,098,000,000	1,358,000,000	1,356,000,000	1,626,000,000	1,389,000,000
payables to brokerage clients	123,968,000,000	117,986,000,000	116,341,000,000	115,397,000,000	109,355,000,000	100,579,000,000	101,559,000,000	89,164,000,000	79,966,000,000	84,005,000,000	84,786,000,000	72,818,000,000	84,795,000,000	87,553,000,000	97,438,000,000	110,012,000,000	114,880,000,000	125,307,000,000	125,671,000,000	113,052,000,000	105,012,000,000	101,339,000,000	104,201,000,000	52,006,000,000	50,135,000,000	49,251,000,000	39,220,000,000	35,622,000,000	31,013,000,000	29,701,000,000	32,726,000,000	27,851,000,000	30,347,000,000	31,088,000,000	31,243,000,000	31,480,000,000	33,039,000,000	34,267,000,000	35,894,000,000	32,961,000,000	32,679,000,000	32,282,000,000	33,185,000,000	31,040,000,000	31,480,000,000	31,617,000,000	31,484,000,000	32,308,000,000	34,532,000,000	36,852,000,000	36,888,000,000	40,330,000,000	34,761,000,000	31,833,000,000	36,357,000,000	35,489,000,000	36,595,000,000	33,917,000,000	32,106,000,000	30,861,000,000
accrued expenses and other liabilities	12,529,000,000	11,979,000,000	12,831,000,000	11,420,000,000	10,808,000,000	11,011,000,000	12,325,000,000	27,579,000,000	16,491,000,000	17,637,000,000	18,400,000,000	16,041,000,000	13,836,000,000	13,220,000,000	13,124,000,000	13,451,000,000	13,699,000,000	15,611,000,000	17,791,000,000	19,249,000,000	21,224,000,000	16,428,000,000	17,094,000,000	7,465,000,000	9,442,000,000	9,259,000,000	5,516,000,000	3,521,000,000	3,567,000,000	3,604,000,000	2,954,000,000	2,697,000,000	2,408,000,000	2,468,000,000	2,810,000,000	2,249,000,000	2,021,000,000	2,162,000,000	2,331,000,000	1,902,000,000	1,820,000,000	1,989,000,000	2,151,000,000	1,549,000,000	1,401,000,000	1,586,000,000	1,433,000,000	1,532,000,000	1,328,000,000	1,210,000,000	1,453,000,000	1,641,000,000	1,455,000,000	1,285,000,000	1,310,000,000	1,397,000,000	1,218,000,000	1,222,000,000	1,400,000,000	1,496,000,000
other short-term borrowings	13,945,000,000	12,486,000,000	6,913,000,000	6,541,000,000	8,472,000,000	6,927,000,000	5,999,000,000	10,593,000,000	9,996,000,000	8,405,000,000	6,553,000,000	7,550,000,000	7,831,000,000	7,071,000,000
federal home loan bank borrowings	500,000,000		1,850,000,000	850,000,000	9,000,000,000	11,500,000,000	16,700,000,000	22,600,000,000	24,400,000,000	24,000,000,000	26,400,000,000	31,800,000,000	41,000,000,000	45,600,000,000
long-term debt	22,669,000,000	20,486,000,000	22,199,000,000	20,199,000,000	20,208,000,000	21,471,000,000	22,428,000,000	22,442,000,000	22,449,000,000	22,865,000,000	26,128,000,000	24,803,000,000	22,482,000,000	20,016,000,000	20,828,000,000	20,844,000,000	21,112,000,000	21,873,000,000	18,914,000,000	19,530,000,000	18,708,000,000	17,698,000,000	13,632,000,000	7,836,000,000	8,526,000,000	8,522,000,000	7,430,000,000	7,427,000,000	7,424,000,000	6,829,000,000	6,878,000,000	5,790,000,000	5,789,000,000	4,128,000,000	4,753,000,000	3,268,000,000	3,518,000,000	3,518,000,000	2,876,000,000	2,876,000,000	2,876,000,000	2,877,000,000	2,890,000,000	2,893,000,000	2,894,000,000	2,895,000,000	1,901,000,000	1,902,000,000	1,904,000,000	1,630,000,000	1,631,000,000	1,632,000,000	1,776,000,000	1,999,000,000	2,000,000,000	2,001,000,000	2,002,000,000	2,004,000,000	2,005,000,000	2,006,000,000
total liabilities	467,119,000,000	444,085,000,000	441,570,000,000	415,871,000,000	409,485,000,000	413,392,000,000	431,468,000,000	418,840,000,000	405,722,000,000	426,372,000,000	452,220,000,000	437,420,000,000	474,358,000,000	499,205,000,000	515,164,000,000	540,522,000,000	593,044,000,000	632,852,000,000	611,009,000,000	550,106,000,000	517,082,000,000	507,863,000,000	492,949,000,000	388,024,000,000	369,669,000,000	344,509,000,000	272,260,000,000	257,633,000,000	255,001,000,000	261,190,000,000	275,812,000,000	251,268,000,000	241,785,000,000	228,990,000,000	224,749,000,000	212,687,000,000	203,112,000,000	210,079,000,000	206,962,000,000	193,867,000,000	183,062,000,000	176,485,000,000	170,316,000,000	157,206,000,000	151,204,000,000	148,011,000,000	132,231,000,000	133,251,000,000	130,158,000,000	126,187,000,000	123,548,000,000	124,048,000,000	108,193,000,000	102,706,000,000	103,145,000,000	100,839,000,000	95,251,000,000	90,838,000,000	88,396,000,000	86,342,000,000
stockholders’ equity:
preferred stock — .01 par value per share...	6,213,000,000	6,763,000,000	6,763,000,000	6,763,000,000	6,763,000,000	9,191,000,000	9,191,000,000	9,191,000,000	9,191,000,000	9,191,000,000	9,191,000,000	9,191,000,000	9,191,000,000	9,191,000,000	9,706,000,000	10,297,000,000	10,694,000,000	10,694,000,000	9,954,000,000	9,954,000,000	9,954,000,000	10,539,000,000	7,733,000,000	5,263,000,000	5,263,000,000	2,793,000,000	2,793,000,000	2,793,000,000	2,793,000,000	2,793,000,000	2,793,000,000	2,793,000,000	2,793,000,000	2,793,000,000																	866,000,000	865,000,000	864,000,000	863,000,000	394,000,000
common stock — 3 billion shares authorized; .01 par value per share...	21,000,000	21,000,000	21,000,000	21,000,000	21,000,000	21,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	20,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000																	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	14,000,000	14,000,000	14,000,000
nonvoting common stock — 300 million shares authorized; .01 par value per share...							1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000
additional paid-in capital	28,179,000,000	28,047,000,000	27,996,000,000	27,910,000,000	27,813,000,000	27,664,000,000	27,639,000,000	27,548,000,000	27,470,000,000	27,358,000,000	27,330,000,000	27,293,000,000	27,220,000,000	27,136,000,000	27,075,000,000	26,975,000,000	26,918,000,000	26,826,000,000	26,741,000,000	26,755,000,000	26,708,000,000	26,629,000,000	26,515,000,000	4,797,000,000	4,760,000,000	4,714,000,000	4,656,000,000	4,640,000,000	4,599,000,000	4,548,000,000	4,499,000,000	4,484,000,000	4,447,000,000	4,397,000,000	4,353,000,000	4,365,000,000	4,336,000,000	4,300,000,000	4,267,000,000	4,254,000,000	4,223,000,000	4,189,000,000	4,152,000,000	4,160,000,000	4,124,000,000	4,085,000,000	4,012,000,000	3,982,000,000	3,964,000,000	3,932,000,000	3,911,000,000	3,881,000,000	3,890,000,000	3,870,000,000	3,842,000,000	3,826,000,000	3,822,000,000	3,087,000,000	3,061,000,000	3,034,000,000
retained earnings	48,044,000,000	45,912,000,000	44,065,000,000	42,170,000,000	40,374,000,000	38,882,000,000	37,568,000,000	36,303,000,000	35,458,000,000	34,701,000,000	33,901,000,000	33,429,000,000	32,865,000,000	32,144,000,000	31,066,000,000	29,651,000,000	28,174,000,000	26,895,000,000	25,992,000,000	24,880,000,000	23,809,000,000	23,029,000,000	21,975,000,000	21,261,000,000	20,876,000,000	20,487,000,000	19,960,000,000	19,374,000,000	18,680,000,000	18,017,000,000	17,329,000,000	16,615,000,000	15,903,000,000	15,222,000,000	14,408,000,000	13,963,000,000	13,495,000,000	13,069,000,000	12,649,000,000	12,261,000,000	11,882,000,000	11,567,000,000	11,253,000,000	10,952,000,000	10,664,000,000	10,412,000,000	9,715,000,000	9,492,000,000	9,034,000,000	8,830,000,000	8,674,000,000	8,554,000,000	8,442,000,000	8,280,000,000	8,097,000,000	7,978,000,000	7,892,000,000	7,745,000,000	7,580,000,000	7,409,000,000
treasury stock	-21,735,000,000	-20,752,000,000	-18,437,000,000	-15,682,000,000	-12,929,000,000	-12,626,000,000	-11,196,000,000	-11,230,000,000	-11,251,000,000	-11,283,000,000	-11,354,000,000	-11,398,000,000	-11,420,000,000	-11,455,000,000	-8,639,000,000	-6,751,000,000	-5,272,000,000	-5,293,000,000	-5,338,000,000	-5,421,000,000	-5,450,000,000	-5,502,000,000	-5,578,000,000	-5,691,000,000	-5,710,000,000	-5,734,000,000	-5,767,000,000	-5,612,000,000	-4,866,000,000	-3,677,000,000	-3,714,000,000	-2,769,000,000	-2,783,000,000	-2,837,000,000																	-3,990,000,000	-4,024,000,000	-4,058,000,000	-4,072,000,000	-4,087,000,000	-4,113,000,000	-4,130,000,000	-4,157,000,000	-4,202,000,000	-4,247,000,000
accumulated other comprehensive loss	-10,575,000,000	-10,757,000,000
total stockholders’ equity	50,147,000,000	49,234,000,000	49,425,000,000	49,384,000,000	49,451,000,000	49,511,000,000	48,375,000,000	47,215,000,000	43,953,000,000	42,412,000,000	40,958,000,000	37,784,000,000	37,147,000,000	36,347,000,000	36,608,000,000	37,041,000,000	44,513,000,000	48,098,000,000	56,261,000,000	57,442,000,000	57,450,000,000	55,594,000,000	56,060,000,000	31,331,000,000	30,815,000,000	26,270,000,000	21,745,000,000	21,354,000,000	21,320,000,000	21,625,000,000	20,670,000,000	20,834,000,000	20,097,000,000	19,330,000,000	18,525,000,000	18,027,000,000	17,489,000,000	16,982,000,000	16,421,000,000	15,470,000,000	14,990,000,000	14,513,000,000	13,402,000,000	13,196,000,000	12,423,000,000	12,158,000,000	11,170,000,000	10,815,000,000	10,053,000,000	9,720,000,000	9,776,000,000	9,589,000,000	9,465,000,000	9,110,000,000	8,337,000,000	7,714,000,000	7,655,000,000	6,734,000,000	6,487,000,000	6,226,000,000
total liabilities and stockholders’ equity	517,266,000,000	493,319,000,000	490,995,000,000	465,255,000,000	458,936,000,000	462,903,000,000	479,843,000,000	466,055,000,000	449,675,000,000	468,784,000,000	493,178,000,000	475,204,000,000	511,505,000,000	535,552,000,000	551,772,000,000	577,563,000,000	637,557,000,000	680,950,000,000	667,270,000,000	607,548,000,000	574,532,000,000	563,457,000,000	549,009,000,000	419,355,000,000	400,484,000,000	370,779,000,000	294,005,000,000	278,987,000,000	276,321,000,000	282,815,000,000	296,482,000,000	272,102,000,000	261,882,000,000	248,320,000,000	243,274,000,000	230,714,000,000	220,601,000,000	227,061,000,000	223,383,000,000	209,337,000,000	198,052,000,000	190,998,000,000	183,718,000,000	170,402,000,000	163,627,000,000	160,169,000,000	143,401,000,000	144,066,000,000	140,211,000,000	135,907,000,000	133,324,000,000	133,637,000,000	117,658,000,000	111,816,000,000	111,482,000,000	108,553,000,000	102,906,000,000	97,572,000,000	94,883,000,000	92,568,000,000
accumulated other comprehensive income			-10,983,000,000	-11,798,000,000	-12,591,000,000	-13,621,000,000	-14,848,000,000	-14,618,000,000	-16,936,000,000	-17,576,000,000	-18,131,000,000	-20,752,000,000	-20,730,000,000	-20,690,000,000	-22,621,000,000	-23,152,000,000	-16,022,000,000	-11,045,000,000	-1,109,000,000	1,253,000,000	2,408,000,000	878,000,000	5,394,000,000	5,686,000,000	5,611,000,000	3,995,000,000	88,000,000	144,000,000	99,000,000	-71,000,000	-252,000,000	-304,000,000	-278,000,000	-260,000,000	-152,000,000	-106,000,000	-112,000,000	-132,000,000	-163,000,000	31,000,000	-17,000,000	-120,000,000	-134,000,000	19,000,000	174,000,000	231,000,000	186,000,000	108,000,000	46,000,000	3,000,000	300,000,000	298,000,000	312,000,000	154,000,000	76,000,000	8,000,000	56,000,000	45,000,000	34,000,000	16,000,000
short-term borrowings															17,050,000,000	500,000,000	1,350,000,000	4,234,000,000	4,855,000,000	3,000,000,000	3,500,000,000	2,500,000,000													15,000,000,000	5,000,000,000	300,000,000	600,000,000		3,001,000,000	5,000,000,000	800,000,000
other securities owned — at fair value																												497,000,000	538,000,000	521,000,000	539,000,000	500,000,000	525,000,000	500,000,000	539,000,000	427,000,000	460,000,000	564,000,000	449,000,000	858,000,000	525,000,000	485,000,000	533,000,000	470,000,000	611,000,000	657,000,000	583,000,000	456,000,000	482,000,000	488,000,000	545,000,000	636,000,000	513,000,000	425,000,000	456,000,000	593,000,000	448,000,000	410,000,000	386,000,000	337,000,000
intangible assets — net																																	93,000,000	101,000,000	108,000,000	115,000,000	125,000,000	135,000,000	144,000,000	154,000,000	163,000,000	172,000,000	181,000,000	192,000,000	204,000,000	216,000,000	244,000,000	255,000,000	278,000,000	290,000,000	302,000,000	319,000,000	292,000,000	304,000,000	316,000,000	326,000,000	332,000,000
(including resale agreements of 6,596 and 9,547 at december 31, 2017
and 2016, respectively)																																			15,139,000,000
held to maturity securities (fair value — 120,373 and 74,444 at december 31,
2017 and 2016, respectively)																																			120,926,000,000
of 2,850 and 2,835 at december 31, 2017 and 2016, respectively																																			2,793,000,000
1,487,543,446 shares issued																																			15,000,000				15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000
at december 31, 2017 and 2016, respectively																																			-2,892,000,000
(including resale agreements of 7,247 at september 30, 2017 and 9,547
at december 31, 2016)																																				15,933,000,000	18,483,000,000	21,481,000,000
held to maturity securities (fair value — 114,332 at september 30, 2017 and
74,444 at december 31, 2016)																																				114,376,000,000	107,610,000,000	107,971,000,000
of 2,835 at september 30, 2017 and december 31, 2016																																				2,783,000,000
shares issued																																				15,000,000	15,000,000	15,000,000
154,793,560 shares at december 31, 2016																																				-2,993,000,000	-3,028,000,000	-3,053,000,000
(including resale agreements of 7,588 at june 30, 2017 and 9,547
held to maturity securities (fair value — 107,446 at june 30, 2017 and
of 2,835 at june 30, 2017 and december 31, 2016																																					2,783,000,000
(including resale agreements of 8,465 at march 31, 2017 and 9,547
held to maturity securities (fair value — 107,382 at march 31, 2017 and
of 2,835 at march 31, 2017 and december 31, 2016																																						2,783,000,000
(including resale agreements of 9,547 and 8,088 at december 31, 2016
and 2015, respectively)																																							22,174,000,000
held to maturity securities (fair value — 74,444 and 50,088 at december 31,
2016 and 2015, respectively)																																							75,203,000,000
of 2,835 and 1,485 at december 31, 2016 and 2015, respectively																																							2,783,000,000
at december 31, 2016 and 2015, respectively																																							-3,130,000,000
(including resale agreements of 9,425 at september 30, 2016 and 8,088
at december 31, 2015)																																								20,077,000,000	18,593,000,000	20,260,000,000
securities available for sale																																								75,791,000,000	74,228,000,000	71,516,000,000	65,646,000,000	66,354,000,000	63,415,000,000	61,366,000,000	53,203,000,000	53,080,000,000	51,865,000,000	48,414,000,000	48,809,000,000	46,123,000,000	42,448,000,000	40,049,000,000	37,818,000,000	33,965,000,000	28,962,000,000	27,208,000,000	26,046,000,000	23,993,000,000
securities held to maturity (fair value — 67,843 at september 30, 2016 and
50,088 at december 31, 2015)																																								66,056,000,000	55,307,000,000	53,054,000,000
of 2,235 at september 30, 2016 and 1,485 at december 31, 2015																																								2,192,000,000
167,205,881 shares at december 31, 2015																																								-3,283,000,000	-3,302,000,000	-3,324,000,000
(including resale agreements of 7,270 at june 30, 2016 and 8,088
securities held to maturity (fair value — 57,195 at june 30, 2016 and
of 2,235 at june 30, 2016 and 1,485 at december 31, 2015																																									2,189,000,000
(including resale agreements of 8,263 at march 31, 2016 and 8,088
securities held to maturity (fair value — 54,358 at march 31, 2016 and
of 2,235 at march 31, 2016 and 1,485 at december 31, 2015																																										2,186,000,000
(including resale agreements of 8,088 and 10,186 at december 31, 2015
and 2014, respectively)																																											19,598,000,000
securities held to maturity (fair value — 50,088 and 34,743 at december 31,
2015 and 2014, respectively)																																											50,007,000,000
of 1,485 and 885 at december 31, 2015 and 2014, respectively																																											1,459,000,000
at december 31, 2015 and 2014, respectively																																											-3,343,000,000
(including resale agreements of 7,852 at september 30, 2015 and 10,186
at december 31, 2014)																																												17,243,000,000	17,884,000,000	19,384,000,000
securities held to maturity (fair value — 41,297 at september 30, 2015 and
34,743 at december 31, 2014)																																												40,534,000,000	37,747,000,000	36,321,000,000
of 1,485 at september 30, 2015 and 885 at december 31, 2014																																												1,457,000,000
176,821,202 shares at december 31, 2014																																												-3,407,000,000	-3,428,000,000	-3,458,000,000
(including resale agreements of 8,422 at june 30, 2015 and 10,186
securities held to maturity (fair value — 37,979 at june 30, 2015 and
preference of 885																																													874,000,000	873,000,000	871,000,000	870,000,000
(including resale agreements of 9,806 at march 31, 2015 and 10,186
securities held to maturity (fair value — 37,110 at march 31, 2015 and
(including resale agreements of 10,440 at june 30, 2014 and 14,016
at december 31, 2013)																																															19,093,000,000	20,548,000,000
securities held to maturity (fair value — 32,647 at june 30, 2014 and
29,490 at december 31, 2013)																																															32,495,000,000	32,123,000,000
loans to banking clients — net																																															12,869,000,000	12,591,000,000	12,115,000,000	11,732,000,000	11,300,000,000	10,726,000,000	10,102,000,000	9,837,000,000	9,760,000,000	9,812,000,000	9,700,000,000	9,471,000,000	9,130,000,000	8,725,000,000
deposits from banking clients																																															95,688,000,000	95,591,000,000	91,187,000,000	84,345,000,000	82,424,000,000	79,377,000,000	68,756,000,000	66,257,000,000	62,259,000,000	60,854,000,000	54,078,000,000	52,339,000,000	51,259,000,000	50,590,000,000
190,657,263 shares at december 31, 2013																																															-3,629,000,000	-3,652,000,000
(including resale agreements of 11,776 at march 31, 2014 and 14,016
securities held to maturity (fair value — 31,669 at march 31, 2014 and
(including resale agreements of 13,461 at september 30, 2013 and 19,325
at december 31, 2012)																																																	23,520,000,000	27,011,000,000
securities held to maturity (fair value — 27,717 at september 30, 2013 and
18,732 at december 31, 2012)																																																	28,219,000,000	25,818,000,000
preference of 885 at both september 30, 2013 and december 31, 2012																																																	868,000,000
210,014,305 shares at december 31, 2012																																																	-3,874,000,000	-3,927,000,000
(including resale agreements of 18,214 at june 30, 2013 and 19,325
securities held to maturity (fair value — 25,288 at june 30, 2013 and
preference of 885 at both june 30, 2013 and december 31, 2012																																																		867,000,000
securities held to maturity																																																			22,920,000,000	18,194,000,000	15,612,000,000	15,506,000,000	14,955,000,000	15,108,000,000	15,775,000,000	15,799,000,000	16,646,000,000	17,762,000,000
loans held for sale																																																						2,000,000	52,000,000	70,000,000	84,000,000	49,000,000	34,000,000	185,000,000
preferred stock — 9,940,000 shares authorized; .01 par value per share...

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31

cash flows from operating activities
net income	2,800,000,000	2,479,000,000	2,459,000,000	2,358,000,000	2,126,000,000	1,909,000,000	1,840,000,000	1,408,000,000	1,332,000,000	1,362,000,000	1,045,000,000	1,125,000,000	1,294,000,000	1,603,000,000	1,968,000,000	2,020,000,000	1,793,000,000	1,402,000,000	1,580,000,000	1,526,000,000	1,265,000,000	1,484,000,000	1,135,000,000	698,000,000	671,000,000	795,000,000	852,000,000	951,000,000	937,000,000	964,000,000	935,000,000	923,000,000	866,000,000	783,000,000	597,000,000	618,000,000	575,000,000	564,000,000	522,000,000	503,000,000	452,000,000	412,000,000	416,000,000	376,000,000	353,000,000	302,000,000	324,000,000	326,000,000	290,000,000	256,000,000	206,000,000	211,000,000	247,000,000	275,000,000	195,000,000	163,000,000	220,000,000	238,000,000	243,000,000
adjustments to reconcile net income to net cash from operating activities:
share-based compensation	92,000,000	138,000,000	58,000,000	61,000,000	72,000,000	126,000,000	70,000,000	65,000,000	71,000,000	131,000,000	60,000,000	66,000,000	60,000,000	134,000,000	85,000,000	75,000,000	62,000,000	144,000,000	47,000,000	48,000,000	59,000,000	100,000,000	80,000,000	33,000,000	35,000,000	56,000,000	52,000,000	36,000,000	39,000,000	56,000,000	84,000,000	30,000,000	33,000,000	50,000,000	42,000,000	27,000,000	32,000,000	52,000,000
depreciation and amortization	198,000,000	201,000,000	206,000,000	212,000,000	215,000,000	217,000,000	224,000,000	231,000,000	233,000,000	228,000,000	238,000,000	198,000,000	191,000,000	177,000,000	176,000,000	167,000,000	159,000,000	150,000,000	145,000,000	140,000,000	135,000,000	129,000,000	130,000,000	79,000,000	109,000,000	96,000,000	94,000,000	88,000,000	84,000,000	83,000,000	80,000,000	78,000,000	75,000,000	73,000,000	69,000,000	69,000,000	66,000,000	65,000,000	61,000,000	60,000,000	57,000,000	56,000,000	58,000,000	57,000,000	55,000,000	54,000,000	48,000,000	48,000,000	51,000,000	51,000,000	51,000,000	50,000,000	50,000,000	48,000,000	48,000,000	48,000,000	39,000,000	33,000,000	35,000,000
amortization of acquired intangible assets	142,000,000	132,000,000	127,000,000	127,000,000	128,000,000	130,000,000	130,000,000	130,000,000	129,000,000	130,000,000	130,000,000	135,000,000	134,000,000	135,000,000	136,000,000	152,000,000	154,000,000	154,000,000	154,000,000	153,000,000	154,000,000	154,000,000	147,000,000
provision for deferred income taxes	-10,000,000	-10,000,000	-36,000,000	437,000,000	-5,000,000	-35,000,000	-28,000,000	-54,000,000	-60,000,000	-49,000,000	-483,000,000	1,000,000	1,000,000	3,000,000	39,000,000	-20,000,000	-18,000,000	-19,000,000	114,000,000	-25,000,000	-20,000,000	-16,000,000
premium amortization, net, on available for sale and held to maturity securities	147,000,000	174,000,000	171,000,000	173,000,000	173,000,000	178,000,000	188,000,000	202,000,000	211,000,000	205,000,000	216,000,000	222,000,000	207,000,000	185,000,000	212,000,000	295,000,000	382,000,000	486,000,000					574,000,000	501,000,000	321,000,000	190,000,000	164,000,000	123,000,000	91,000,000	68,000,000	74,000,000
other	219,000,000	183,000,000	204,000,000	206,000,000	175,000,000	144,000,000	182,000,000	132,000,000	122,000,000	116,000,000	311,000,000	113,000,000	146,000,000	132,000,000	151,000,000	152,000,000	89,000,000	98,000,000	126,000,000	98,000,000	56,000,000	92,000,000	99,000,000	84,000,000	83,000,000	83,000,000	72,000,000	62,000,000	32,000,000	33,000,000	29,000,000	31,000,000	41,000,000	36,000,000	16,000,000	16,000,000	7,000,000	12,000,000	-16,000,000	8,000,000	7,000,000	10,000,000		4,000,000			5,000,000	2,000,000	3,000,000	13,000,000	7,000,000	22,000,000	3,000,000			-50,000,000	21,000,000	19,000,000	19,000,000
net change in:
investments segregated and on deposit for regulatory purposes	7,084,000,000	7,827,000,000	4,161,000,000	-1,268,000,000	-10,757,000,000	3,354,000,000	-13,272,000,000	-1,546,000,000	12,000,000	716,000,000	6,220,000,000	6,707,000,000	-2,858,000,000	13,690,000,000	900,000,000	8,831,000,000	-5,977,000,000	-4,628,000,000	-7,063,000,000	-996,000,000	-361,000,000	5,022,000,000	4,223,000,000	1,767,000,000	-12,388,000,000	-3,810,000,000	-119,000,000	31,000,000	631,000,000	-1,520,000,000	-51,000,000	2,121,000,000	3,999,000,000	853,000,000
receivables from brokers, dealers, and clearing organizations	-10,196,000,000	-4,618,000,000	-2,462,000,000	-433,000,000	-1,367,000,000	-488,000,000																						-852,000,000	157,000,000	-61,000,000	243,000,000	228,000,000	-130,000,000	-245,000,000	13,000,000	241,000,000	-191,000,000	11,000,000	223,000,000	61,000,000	93,000,000	-524,000,000	2,000,000	335,000,000	-457,000,000	12,000,000		29,000,000	-115,000,000	72,000,000	-134,000,000	272,000,000	-290,000,000	274,000,000	-360,000,000	331,000,000	-64,000,000	36,000,000	-83,000,000
receivables from brokerage clients	-16,651,000,000	-1,571,000,000	-10,881,000,000	-11,060,000,000	1,641,000,000	910,000,000	-11,392,000,000	-1,199,000,000	-1,673,000,000	-2,515,000,000	367,000,000	-3,911,000,000	-1,986,000,000	3,395,000,000	7,264,000,000	2,263,000,000	7,933,000,000	6,487,000,000	-4,025,000,000	-4,313,000,000	-7,540,000,000	-10,290,000,000	-11,000,000,000	-4,027,000,000	-2,345,000,000	2,763,000,000	-701,000,000	357,000,000	-902,000,000	1,121,000,000	758,000,000	-62,000,000	-1,201,000,000	-595,000,000	-2,118,000,000	-469,000,000	-1,265,000,000	424,000,000	-778,000,000	442,000,000	-864,000,000	1,350,000,000	-226,000,000	-472,000,000	-609,000,000	-345,000,000	-100,000,000	-622,000,000	-299,000,000	-372,000,000	1,003,000,000	-1,547,000,000	41,000,000	-749,000,000	-136,000,000	8,000,000	746,000,000	-337,000,000	-76,000,000
other assets	-1,515,000,000	-584,000,000	-260,000,000	-373,000,000	-582,000,000	-83,000,000	-77,000,000	-522,000,000	786,000,000	-95,000,000	-2,222,000,000	229,000,000	-239,000,000	212,000,000	-556,000,000	729,000,000	-15,000,000	-59,000,000	1,828,000,000	-2,349,000,000	-740,000,000	109,000,000	560,000,000	-447,000,000	-296,000,000	187,000,000	-681,000,000	54,000,000	-67,000,000	-15,000,000	39,000,000	-19,000,000	-108,000,000	-16,000,000	-101,000,000	-26,000,000	-54,000,000	4,000,000	-32,000,000	-24,000,000	-58,000,000	21,000,000	-39,000,000	-26,000,000	-12,000,000	-21,000,000	-23,000,000	-24,000,000	-64,000,000	45,000,000	-29,000,000	-9,000,000	-30,000,000	27,000,000	22,000,000	-47,000,000	33,000,000	-12,000,000	11,000,000
payables to brokers, dealers, and clearing organizations	15,719,000,000	2,418,000,000	3,282,000,000	3,824,000,000	2,839,000,000	2,408,000,000																						25,000,000	109,000,000	-229,000,000	530,000,000	88,000,000	280,000,000	-325,000,000	-191,000,000	-484,000,000	-127,000,000	-346,000,000	-70,000,000	-264,000,000	273,000,000	-120,000,000	335,000,000	204,000,000	-76,000,000	345,000,000	-198,000,000	293,000,000	-561,000,000	578,000,000	84,000,000	-56,000,000	-128,000,000	42,000,000	170,000,000	-115,000,000	-209,000,000	-270,000,000	237,000,000
payables to brokerage clients	5,982,000,000	1,645,000,000	944,000,000	6,042,000,000	8,776,000,000	-980,000,000	12,395,000,000	9,198,000,000	-4,038,000,000	-782,000,000	11,968,000,000	-11,977,000,000	-2,758,000,000	-9,885,000,000	-12,574,000,000	-4,868,000,000	-10,427,000,000	-364,000,000	12,619,000,000	8,040,000,000	3,673,000,000	-2,862,000,000	14,595,000,000	1,871,000,000	-3,588,000,000	10,031,000,000	3,598,000,000	4,609,000,000	1,312,000,000	-3,025,000,000	4,875,000,000	-2,496,000,000	-741,000,000	-155,000,000	-237,000,000	-1,559,000,000	-1,228,000,000	-1,627,000,000	2,933,000,000	282,000,000	397,000,000	-903,000,000	2,145,000,000	-440,000,000	-137,000,000	-2,688,000,000	-824,000,000	-3,025,000,000	-2,320,000,000	-36,000,000	-3,442,000,000	5,569,000,000	3,037,000,000	-4,524,000,000	868,000,000	-1,106,000,000	1,457,000,000	1,811,000,000	1,245,000,000
accrued expenses and other liabilities	289,000,000	-1,072,000,000	1,264,000,000	232,000,000	-257,000,000	-1,431,000,000	-8,662,000,000	11,053,000,000	-1,377,000,000	-796,000,000	2,187,000,000	2,081,000,000	592,000,000	-4,000,000	92,000,000	-742,000,000	-2,078,000,000	-798,000,000	-448,000,000	-1,067,000,000	2,125,000,000	712,000,000			955,000,000	-273,000,000	162,000,000	-123,000,000	-192,000,000	-88,000,000	195,000,000	239,000,000	-48,000,000	-346,000,000	503,000,000	211,000,000	-150,000,000	-143,000,000	393,000,000	105,000,000	-179,000,000	-152,000,000	557,000,000	205,000,000	-167,000,000	-291,000,000	-139,000,000	-81,000,000	121,000,000	-90,000,000	132,000,000	-163,000,000	89,000,000	-74,000,000	-89,000,000	144,000,000	-73,000,000	-110,000,000	-144,000,000
net cash from operating activities	4,300,000,000	7,342,000,000	-763,000,000	538,000,000	3,177,000,000	6,359,000,000	-10,827,000,000	19,098,000,000	-4,252,000,000	-1,349,000,000	20,037,000,000	-5,011,000,000	-5,216,000,000	9,777,000,000	-2,107,000,000	9,054,000,000	-7,943,000,000	3,053,000,000	5,639,000,000	1,815,000,000	-594,000,000	-4,742,000,000	13,257,000,000	-80,000,000	-16,443,000,000	10,118,000,000	4,304,000,000	5,402,000,000	2,214,000,000	-2,595,000,000	7,801,000,000	1,275,000,000	3,132,000,000	248,000,000	-565,000,000	1,319,000,000	843,000,000	-334,000,000	1,688,000,000	-549,000,000	1,892,000,000	-369,000,000	892,000,000	1,091,000,000	568,000,000	-1,305,000,000	432,000,000	69,000,000	661,000,000	532,000,000	-368,000,000	893,000,000	605,000,000	-330,000,000	98,000,000	452,000,000	94,000,000	615,000,000	1,303,000,000
capital expenditures	-185,000,000	-140,000,000	-158,000,000	-145,000,000	-128,000,000	-117,000,000	-254,000,000	-128,000,000	-89,000,000	-149,000,000	-63,000,000	-239,000,000	-239,000,000	-159,000,000	-202,000,000	-232,000,000	-241,000,000	-296,000,000	-313,000,000	-178,000,000	-239,000,000	-186,000,000	-166,000,000	-130,000,000	-179,000,000	-156,000,000	-193,000,000	-205,000,000	-171,000,000	-139,000,000	-170,000,000	-147,000,000	-131,000,000	-122,000,000	0	-103,000,000	-84,000,000	-80,000,000	0	-77,000,000	-139,000,000	-56,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	4,115,000,000	7,202,000,000	-921,000,000	393,000,000	3,049,000,000	6,242,000,000	-11,081,000,000	18,970,000,000	-4,341,000,000	-1,498,000,000	19,974,000,000	-5,250,000,000	-5,455,000,000	9,618,000,000	-2,309,000,000	8,822,000,000	-8,184,000,000	2,757,000,000	5,326,000,000	1,637,000,000	-833,000,000	-4,928,000,000	13,091,000,000	-210,000,000	-16,622,000,000	9,962,000,000	4,111,000,000	5,197,000,000	2,043,000,000	-2,734,000,000	7,631,000,000	1,128,000,000	3,001,000,000	126,000,000	-565,000,000	1,216,000,000	759,000,000	-414,000,000	1,688,000,000	-626,000,000	1,753,000,000	-425,000,000	892,000,000	1,091,000,000	568,000,000	-1,305,000,000	432,000,000	69,000,000	661,000,000	532,000,000	-368,000,000	893,000,000	605,000,000	-330,000,000	98,000,000	452,000,000	94,000,000	615,000,000	1,303,000,000
cash flows from investing activities
purchases of available for sale securities	-8,760,000,000	-2,199,000,000	-5,750,000,000	-859,000,000	-820,000,000	-1,067,000,000	-736,000,000	-992,000,000	-735,000,000	-523,000,000	-712,000,000				-1,112,000,000	-3,443,000,000	-15,744,000,000	-30,710,000,000	-41,619,000,000	-47,974,000,000	-40,481,000,000	-41,658,000,000	-55,306,000,000	-45,198,000,000	-73,898,000,000	-27,769,000,000	-11,071,000,000	-14,977,000,000	-4,635,000,000	-1,132,000,000	-13,020,000,000	-7,820,000,000	-7,330,000,000	-4,631,000,000	-8,658,000,000	-3,298,000,000	-1,085,000,000	-1,992,000,000
proceeds from sales of available for sale securities	4,550,000,000	1,541,000,000	3,576,000,000	1,206,000,000	2,584,000,000	1,621,000,000	603,000,000	886,000,000	854,000,000	1,189,000,000	2,080,000,000	3,485,000,000	1,849,000,000	1,051,000,000	685,000,000	10,549,000,000	3,949,000,000	9,521,000,000	1,967,000,000	1,697,000,000	3,037,000,000	6,605,000,000	1,906,000,000	2,825,000,000	1,000,000	69,000,000	2,785,000,000	5,436,000,000	5,622,000,000	10,652,000,000	0	0			2,844,000,000	288,000,000	4,421,000,000	1,064,000,000
principal payments on available for sale securities	2,711,000,000	1,838,000,000	2,553,000,000	5,512,000,000	6,121,000,000	8,772,000,000	6,007,000,000	6,238,000,000	7,535,000,000	5,809,000,000	4,915,000,000	11,412,000,000	12,869,000,000	7,312,000,000	9,441,000,000	11,970,000,000	11,641,000,000	16,892,000,000	21,376,000,000	26,280,000,000	23,347,000,000	23,909,000,000	20,566,000,000	18,004,000,000	14,486,000,000	10,191,000,000	3,242,000,000	6,068,000,000	6,267,000,000	6,039,000,000	3,925,000,000	5,134,000,000	4,262,000,000	2,695,000,000	2,563,000,000	1,834,000,000	1,631,000,000	3,067,000,000
purchases of held to maturity securities	-1,701,000,000	-635,000,000	-407,000,000	-247,000,000	-48,000,000	-381,000,000																					-580,000,000	-8,392,000,000	-9,234,000,000	-1,235,000,000	-10,234,000,000	-8,427,000,000	-13,977,000,000	-8,235,000,000	-13,039,000,000	-7,577,000,000	-3,008,000,000	-9,301,000,000
principal payments on held to maturity securities	3,208,000,000	3,319,000,000	3,555,000,000	3,660,000,000	4,615,000,000	3,432,000,000	3,833,000,000	3,753,000,000	3,626,000,000	3,509,000,000	3,431,000,000	4,358,000,000	4,059,000,000	3,613,000,000	3,279,000,000	3,775,000,000	5,153,000,000	3,505,000,000									5,953,000,000	5,187,000,000	4,470,000,000	3,996,000,000	5,028,000,000	4,908,000,000	3,926,000,000	3,548,000,000	3,700,000,000	3,458,000,000	2,738,000,000	1,731,000,000
net change in bank loans	-6,044,000,000	-3,021,000,000	-4,381,000,000	-3,196,000,000	-3,302,000,000	-1,928,000,000	-1,852,000,000	-1,180,000,000	-1,406,000,000	-349,000,000	-95,000,000	-219,000,000	-108,000,000	521,000,000	-135,000,000	-823,000,000	-2,337,000,000	-2,493,000,000	-3,026,000,000	-2,633,000,000	-3,406,000,000	-1,780,000,000	-1,572,000,000	-1,440,000,000	-1,336,000,000	-1,327,000,000	-1,392,000,000	-279,000,000					-184,000,000	74,000,000
cash paid for acquisition, net of cash acquired	0	-577,000,000
purchases of equipment, office facilities, and property	-185,000,000	-140,000,000	-158,000,000	-145,000,000	-128,000,000	-117,000,000	-254,000,000	-128,000,000	-89,000,000	-149,000,000	-63,000,000	-239,000,000	-239,000,000	-159,000,000	-202,000,000	-232,000,000	-241,000,000	-296,000,000	-313,000,000	-178,000,000	-239,000,000	-186,000,000	-166,000,000	-130,000,000	-179,000,000	-156,000,000	-193,000,000	-205,000,000	-171,000,000	-139,000,000	-170,000,000	-147,000,000	-131,000,000	-122,000,000		-103,000,000	-84,000,000	-80,000,000		-77,000,000	-139,000,000	-56,000,000
purchases of fhlb stock			-434,000,000	-272,000,000	-123,000,000	-194,000,000	-109,000,000	-312,000,000	-294,000,000	-180,000,000	-217,000,000	-90,000,000	-123,000,000	-1,439,000,000
proceeds from sales of fhlb stock	3,000,000	80,000,000	394,000,000	618,000,000	225,000,000	419,000,000	383,000,000	385,000,000	296,000,000	324,000,000	468,000,000	794,000,000	0	82,000,000
purchases of federal reserve stock			0	0	-5,000,000	-4,000,000	-55,000,000	-27,000,000	-25,000,000	-82,000,000	-9,000,000	-130,000,000			-21,000,000	0	-58,000,000	-27,000,000	-21,000,000	-105,000,000	-109,000,000	-10,000,000	-1,000,000	-8,000,000	0	-182,000,000
proceeds from sales of federal reserve stock	12,000,000	13,000,000	3,000,000	4,000,000	0	4,000,000					0	0	0	98,000,000	181,000,000	12,000,000
other investing activities	-185,000,000	-229,000,000	-102,000,000	-138,000,000	-43,000,000	-87,000,000	-86,000,000	-107,000,000	-56,000,000	-73,000,000	-116,000,000	-63,000,000	-58,000,000	-50,000,000	-77,000,000	-48,000,000	23,000,000	-34,000,000	-57,000,000	-38,000,000	-10,000,000	-38,000,000	157,000,000	-41,000,000	-79,000,000	-22,000,000	-38,000,000	-27,000,000	-16,000,000	25,000,000	-22,000,000	-23,000,000	-11,000,000	-40,000,000	-7,000,000	-38,000,000	-8,000,000	-6,000,000	-14,000,000	107,000,000			-17,000,000						0	0	2,000,000	-7,000,000				-4,000,000	5,000,000	5,000,000	1,000,000
net cash from investing activities	-6,414,000,000	-10,000,000	-1,151,000,000	6,143,000,000	9,076,000,000	10,470,000,000	7,734,000,000	8,516,000,000	9,706,000,000	9,475,000,000	9,682,000,000	18,533,000,000	18,167,000,000	11,029,000,000	11,540,000,000	21,760,000,000	2,390,000,000	-3,642,000,000	-21,693,000,000	-22,951,000,000	-17,861,000,000	-13,158,000,000	-22,406,000,000	-26,000,000,000	-58,249,000,000	-19,196,000,000	-1,295,000,000	-7,189,000,000	2,163,000,000	18,285,000,000	-14,535,000,000	-6,366,000,000	-13,115,000,000	-6,539,000,000	-13,242,000,000	-5,914,000,000	4,270,000,000	-5,587,000,000	-12,731,000,000	-12,210,000,000	-5,072,000,000	-8,762,000,000	-9,705,000,000	-6,350,000,000	-3,906,000,000	-8,662,000,000	-800,000,000	-3,210,000,000	-6,605,000,000	-3,117,000,000	-8,035,000,000	-7,418,000,000	-2,354,000,000	-2,768,000,000	-3,720,000,000	-4,846,000,000	-1,754,000,000	-681,000,000	-1,386,000,000
cash flows from financing activities
net change in bank deposits	-3,359,000,000	-2,706,000,000	16,690,000,000	5,999,000,000	-13,102,000,000	-12,961,000,000	12,659,000,000	-5,958,000,000	-17,040,000,000	-20,493,000,000	5,545,000,000	-20,006,000,000	-21,331,000,000	-40,979,000,000	-28,991,000,000	-46,288,000,000	-23,824,000,000	22,049,000,000	48,503,000,000	26,637,000,000	-1,260,000,000	11,876,000,000	37,305,000,000	19,151,000,000	24,089,000,000	57,383,000,000	10,767,000,000	952,000,000	-11,079,000,000	-11,969,000,000	18,015,000,000	13,486,000,000	9,738,000,000	20,528,000,000	4,377,000,000	2,963,000,000	-4,589,000,000	3,435,000,000	13,824,000,000	12,335,000,000	1,606,000,000	6,187,000,000	10,485,000,000	6,106,000,000	3,408,000,000	6,688,000,000
proceeds from fhlb borrowings			11,600,000,000	8,760,000,000	3,000,000,000	5,000,000,000	3,000,000,000	7,800,000,000	7,201,000,000	5,000,000,000	7,400,000,000	2,600,000,000	3,000,000,000	36,200,000,000
repayments of fhlb borrowings	0	-1,850,000,000	-10,600,000,000	-16,910,000,000	-5,500,000,000	-10,200,000,000	-8,900,000,000	-9,600,000,000	-6,801,000,000	-7,400,000,000	-12,800,000,000	-11,800,000,000	-7,600,000,000	-3,000,000,000
proceeds from other short-term borrowings	22,475,000,000	17,137,000,000	9,518,000,000	7,169,000,000	11,861,000,000	8,498,000,000	8,792,000,000	7,359,000,000	6,816,000,000	4,050,000,000	2,810,000,000	6,076,000,000	4,457,000,000	3,657,000,000
repayments of other short-term borrowings	-21,070,000,000	-11,594,000,000	-9,161,000,000	-9,117,000,000	-10,332,000,000	-7,574,000,000	-13,386,000,000	-6,762,000,000	-5,225,000,000	-2,198,000,000	-3,808,000,000	-6,357,000,000	-3,698,000,000	-1,241,000,000
issuances of long-term debt											1,288,000,000	2,331,000,000
repayments of long-term debt	-1,506,000,000	-1,608,000,000	-5,000,000	-6,000,000	-1,256,000,000	-981,000,000	-6,000,000	-6,000,000	-410,000,000	-3,260,000,000	-8,000,000	-8,000,000	-7,000,000	-808,000,000
repurchases of common stock and nonvoting common stock	-999,000,000	-2,378,000,000	-2,765,000,000	-2,748,000,000							0	0	0	-2,842,000,000	-1,940,000,000
net proceeds from preferred stock offerings															0	0	0	740,000,000	0	0	0	2,806,000,000	2,470,000,000	0																												0	-1,000,000
redemption of preferred stock				0															0	0
dividends paid	-643,000,000	-632,000,000	-564,000,000	-562,000,000	-608,000,000	-595,000,000	-575,000,000	-563,000,000	-575,000,000	-562,000,000	-573,000,000	-561,000,000	-574,000,000	-568,000,000	-551,000,000	-539,000,000	-511,000,000	-509,000,000	-453,000,000	-469,000,000	-455,000,000	-445,000,000	-406,000,000	-327,000,000	-266,000,000	-281,000,000	-252,000,000	-271,000,000	-261,000,000	-276,000,000	-208,000,000	-225,000,000	-170,000,000	-184,000,000	-136,000,000	-163,000,000	-135,000,000	-158,000,000	-121,000,000	-135,000,000	-120,000,000	-110,000,000	-99,000,000	-100,000,000	-88,000,000	-100,000,000	-86,000,000	-100,000,000	-99,000,000	-86,000,000	-98,000,000	-85,000,000	-98,000,000	-77,000,000	-77,000,000	-77,000,000	-73,000,000	-73,000,000	-72,000,000
proceeds from stock options exercised	11,000,000	47,000,000	15,000,000	32,000,000	70,000,000	39,000,000	31,000,000	10,000,000	21,000,000	22,000,000	16,000,000	9,000,000	5,000,000	19,000,000	22,000,000	9,000,000	3,000,000	30,000,000	59,000,000	18,000,000	47,000,000	97,000,000	44,000,000	6,000,000	6,000,000	23,000,000	53,000,000	17,000,000	22,000,000	26,000,000
other financing activities	-29,000,000	-129,000,000	-4,000,000	-2,000,000	-7,000,000	-88,000,000	-11,000,000	-6,000,000	1,000,000	-85,000,000	-23,000,000	-6,000,000	-4,000,000	-67,000,000	-41,000,000	-7,000,000	3,000,000	-49,000,000	-63,000,000	-11,000,000	-5,000,000	-25,000,000	-47,000,000	-1,000,000	-1,000,000	-6,000,000	-28,000,000	0	-3,000,000	-10,000,000	-42,000,000	-1,000,000	-1,000,000	-10,000,000	-35,000,000	-2,000,000	0	-8,000,000	36,000,000	3,000,000	3,000,000	2,000,000	19,000,000	6,000,000	4,000,000	3,000,000	2,000,000	4,000,000			-1,000,000				1,000,000	-8,000,000			3,000,000
net cash from financing activities	-1,964,000,000	-3,713,000,000	16,710,000,000	-7,385,000,000	-18,665,000,000	-20,362,000,000	1,604,000,000	-7,726,000,000	-16,012,000,000	-24,926,000,000	-153,000,000	-27,722,000,000	-23,274,000,000	-10,096,000,000	-15,959,000,000	-49,394,000,000	-27,979,000,000	24,609,000,000	49,291,000,000	26,507,000,000	-254,000,000	20,779,000,000	41,347,000,000	18,129,000,000	26,298,000,000	58,208,000,000	10,284,000,000	-111,000,000	-11,883,000,000	-12,229,000,000	17,867,000,000	13,267,000,000	11,276,000,000	4,756,000,000	15,771,000,000	7,273,000,000	-5,013,000,000	4,568,000,000	11,440,000,000	10,214,000,000	5,699,000,000	7,610,000,000	10,425,000,000	6,608,000,000	3,344,000,000	7,615,000,000	27,000,000	2,586,000,000	7,072,000,000	1,888,000,000	2,671,000,000	10,665,000,000	2,183,000,000	4,393,000,000	1,737,000,000	6,697,000,000	1,570,000,000	984,000,000	700,000,000
increase in cash and cash equivalents, including amounts restricted	-4,078,000,000	3,619,000,000	14,796,000,000	-704,000,000	-6,412,000,000	-3,533,000,000	-1,489,000,000	19,888,000,000	-10,558,000,000	-16,800,000,000	29,566,000,000	-14,200,000,000	-10,323,000,000	10,710,000,000	-6,526,000,000	-18,580,000,000	-33,532,000,000	24,020,000,000	33,237,000,000	5,371,000,000	-18,709,000,000	2,879,000,000	32,198,000,000	-7,951,000,000	-48,394,000,000	49,130,000,000	13,293,000,000	-1,898,000,000	-7,506,000,000	3,461,000,000	11,133,000,000	8,176,000,000	1,293,000,000	-1,535,000,000
cash and cash equivalents, including amounts restricted at beginning of year	0	69,661,000,000	0	0	0	65,514,000,000	0	0	0	74,473,000,000	0	0	0	58,720,000,000													0	0	0	38,227,000,000
cash and cash equivalents, including amounts restricted at end of period	-4,078,000,000	73,280,000,000		-704,000,000	-6,412,000,000	61,981,000,000		19,888,000,000	-10,558,000,000	57,673,000,000		-14,200,000,000	-10,323,000,000	69,430,000,000		-18,580,000,000	-33,532,000,000	117,358,000,000		5,371,000,000	-18,709,000,000	73,439,000,000		-7,951,000,000	-48,394,000,000	94,707,000,000		-1,898,000,000	-7,506,000,000	41,688,000,000		8,176,000,000	1,293,000,000	17,625,000,000
redemption and repurchase of preferred stock											0	0	0	-467,000,000
cash and cash equivalents, including amounts restricted at end of year
repurchase of nonvoting common stock						-1,500,000,000
issuance of preferred stock
cash acquired in acquisitions, net of cash paid
purchases of federal home loan bank stock																							-14,000,000	0			-25,000,000	0	0	-2,000,000	0	-15,000,000			-270,000,000	-73,000,000			0
proceeds from sales of federal home loan bank stock																															1,000,000	0	356,000,000	172,000,000	0	6,000,000	36,000,000	64,000,000	0
proceeds from commercial paper and secured lines of credit															247,000,000	500,000,000	5,000,000	1,148,000,000
repayments of commercial paper and secured lines of credit															-500,000,000	-1,350,000,000
net change in other short-term borrowings
issuance of long-term debt																0	0	2,971,000,000	0	839,000,000	2,227,000,000	3,970,000,000	1,981,000,000	0	0	1,089,000,000	0	0			1,088,000,000	0			1,486,000,000	0	0	643,000,000					348,000,000	0	0	998,000,000
repayment of long-term debt																-264,000,000			-607,000,000	-7,000,000			0								-3,000,000	-2,000,000	-277,000,000	-627,000,000	-1,000,000	-252,000,000	-2,000,000	-2,000,000													-2,000,000	-525,000,000	-204,000,000	-2,000,000	-1,000,000	-1,000,000	-112,000,000	-2,000,000	-1,000,000
cash and cash equivalents, including amounts restricted at beginning of period																0	0	93,338,000,000		0	0	70,560,000,000		0	0	45,577,000,000							0	19,160,000,000
repayment of commercial paper and secured lines of credit																		-1,771,000,000
premium amortization, net, on available for sale securities																			562,000,000	560,000,000	600,000,000	624,000,000
repurchases of common stock																											-256,000,000	-809,000,000
proceeds from secured lines of credit
repayment of secured lines of credit
net change in short-term borrowings																					1,000,000,000	2,500,000,000									0	0	0	-15,000,000,000
cash acquired in acquisition, net of cash paid																								-12,000,000
other securities owned																												41,000,000	-17,000,000	18,000,000		25,000,000	-25,000,000	39,000,000	-112,000,000	33,000,000	104,000,000	-115,000,000	409,000,000	-333,000,000	-40,000,000	48,000,000	-63,000,000	141,000,000	46,000,000	-141,000,000	-127,000,000	61,000,000	6,000,000	57,000,000	91,000,000	-123,000,000	-88,000,000	31,000,000	137,000,000	-145,000,000	-6,000,000	-31,000,000	-49,000,000
net increase in bank loans																														81,000,000	-43,000,000				-242,000,000	-411,000,000	-284,000,000	-134,000,000	-503,000,000	-238,000,000	-223,000,000	-139,000,000	-117,000,000	-231,000,000	-411,000,000	-221,000,000
benefit for deferred income taxes
cash and cash equivalents including amounts restricted at beginning of year																															0
proceeds from stock options exercised and other																																9,000,000	50,000,000	49,000,000	73,000,000	27,000,000	13,000,000	58,000,000	113,000,000	12,000,000	12,000,000	7,000,000	23,000,000	17,000,000	22,000,000	28,000,000	16,000,000	65,000,000	59,000,000	56,000,000	25,000,000	9,000,000	6,000,000	5,000,000	15,000,000	7,000,000	16,000,000	35,000,000	38,000,000
premium amortization, net, on available for sale securities and held to maturity securities																																	91,000,000	96,000,000		92,000,000	76,000,000	72,000,000
provision for loan losses																																										2,000,000									6,000,000	2,000,000	10,000,000			5,000,000	8,000,000	1,000,000	4,000,000
cash and investments segregated and on deposit for regulatory purposes																																			794,000,000	2,550,000,000	2,998,000,000	693,000,000	-2,097,000,000	-1,484,000,000	1,667,000,000	-662,000,000	-2,355,000,000	641,000,000	1,500,000,000	1,397,000,000	1,455,000,000	3,005,000,000	3,491,000,000	-114,000,000	1,572,000,000	-3,429,000,000	-2,431,000,000	4,182,000,000	-871,000,000	976,000,000	-2,094,000,000	-771,000,000	-322,000,000
purchase of equipment, office facilities, and property																																											-62,000,000	-79,000,000	-70,000,000	-55,000,000	-112,000,000	-53,000,000	-65,000,000	-62,000,000	-49,000,000	-41,000,000	-31,000,000	-34,000,000	-42,000,000	-43,000,000	-60,000,000	-39,000,000	-38,000,000
net proceeds from short-term borrowings																																			10,000,000,000	4,700,000,000	-300,000,000	600,000,000
increase in cash and cash equivalents																																			1,964,000,000	2,678,000,000							1,612,000,000									4,140,000,000	434,000,000	1,295,000,000	-1,885,000,000	2,303,000,000	-90,000,000	918,000,000	617,000,000
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
supplemental cash flow information
cash paid during the year for:
interest																																			94,000,000	116,000,000	42,000,000	75,000,000	19,000,000	67,000,000	18,000,000	56,000,000	14,000,000	54,000,000	7,000,000	46,000,000	11,000,000	40,000,000	38,000,000	11,000,000	40,000,000	25,000,000	44,000,000	38,000,000	36,000,000	41,000,000	41,000,000	44,000,000	42,000,000
income taxes																																			322,000,000	293,000,000	589,000,000	8,000,000	234,000,000	252,000,000	486,000,000	19,000,000	212,000,000	212,000,000	332,000,000	54,000,000	352,000,000	51,000,000	171,000,000	242,000,000	35,000,000	129,000,000	158,000,000	209,000,000	12,000,000	101,000,000	91,000,000	307,000,000	18,000,000
non-cash investing activity:
securities purchased during the year but settled after year end
net proceeds from preferred stock offering																																								0	0	725,000,000	0												394,000,000
cash and cash equivalents at beginning of period																																				0	0	10,828,000,000		0	0	11,978,000,000		0	0	11,363,000,000	0	7,728,000,000	0	0	12,663,000,000		0	0	8,679,000,000		0	0	4,931,000,000
cash and cash equivalents at end of period																																				2,678,000,000	100,000,000	9,475,000,000		-2,545,000,000	2,519,000,000	10,457,000,000		1,349,000,000	6,000,000	9,011,000,000	-341,000,000	7,173,000,000	1,128,000,000	-697,000,000	6,931,000,000		434,000,000	1,295,000,000	6,794,000,000		-90,000,000	918,000,000	5,548,000,000
cash paid during the period for:
securities purchased during the period but settled after period end																																						581,000,000		370,000,000	271,000,000	380,000,000		-15,000,000	185,000,000	60,000,000	5,000,000	158,000,000	-382,000,000
decrease in cash and cash equivalents																																						-1,353,000,000				-1,521,000,000			6,000,000	-2,352,000,000	-341,000,000	-555,000,000	1,128,000,000	-697,000,000	-5,732,000,000
benefit from loan losses																																																1,000,000	-4,000,000
net impairment losses on securities																																																	1,000,000	3,000,000	4,000,000	4,000,000	3,000,000	7,000,000	18,000,000	9,000,000	13,000,000	2,000,000	7,000,000
proceeds from short-term federal home loan bank borrowings
repayment of short-term federal home loan bank borrowings
stock-based compensation																																								26,000,000	28,000,000	47,000,000	37,000,000	29,000,000	30,000,000	39,000,000	25,000,000	29,000,000	24,000,000	22,000,000	37,000,000	26,000,000	25,000,000	29,000,000	25,000,000	26,000,000	26,000,000	24,000,000	23,000,000
premium amortization, net, on securities available for sale and securities held to maturity																																								74,000,000	61,000,000	46,000,000	43,000,000	42,000,000	39,000,000	38,000,000	31,000,000	27,000,000	37,000,000	48,000,000	44,000,000	59,000,000	65,000,000	46,000,000	52,000,000
purchases of securities available for sale																																								-6,184,000,000	-8,631,000,000	-7,967,000,000	-3,854,000,000	-5,074,000,000	-4,366,000,000	-8,057,000,000	-2,243,000,000	-4,250,000,000	-7,323,000,000	-5,884,000,000	-6,703,000,000	-9,146,000,000	-5,775,000,000	-7,278,000,000	-6,836,000,000	-7,634,000,000	-3,633,000,000	-3,451,000,000	-3,716,000,000
proceeds from sales of securities available for sale																																								571,000,000	3,774,000,000	300,000,000	1,825,000,000	5,000,000	444,000,000	150,000,000	760,000,000	1,285,000,000	1,661,000,000			1,812,000,000	201,000,000	1,073,000,000	250,000,000	50,000,000	0	250,000,000	200,000,000
principal payments on securities available for sale																																								3,889,000,000	2,677,000,000	2,086,000,000	2,168,000,000	1,768,000,000	1,992,000,000	1,412,000,000	1,456,000,000	1,738,000,000	2,070,000,000	3,020,000,000	3,997,000,000	3,321,000,000	3,642,000,000	4,145,000,000	2,759,000,000	2,339,000,000	2,091,000,000	2,059,000,000	1,489,000,000
purchases of securities held to maturity																																								-11,857,000,000	-3,704,000,000	-3,878,000,000	-10,479,000,000	-3,754,000,000	-2,412,000,000	-2,658,000,000	-984,000,000	-2,271,000,000	-3,528,000,000	-3,883,000,000	-6,031,000,000	-4,058,000,000	-1,591,000,000	-1,836,000,000	-1,193,000,000	-1,387,000,000
principal payments on securities held to maturity																																								1,643,000,000	1,301,000,000	897,000,000	831,000,000	1,021,000,000	921,000,000	767,000,000	612,000,000	520,000,000	919,000,000	1,134,000,000	1,279,000,000	1,441,000,000	1,446,000,000	1,258,000,000	1,308,000,000	1,991,000,000	869,000,000	834,000,000	1,092,000,000
proceeds from short-term borrowings																																								3,505,000,000	4,200,000,000	800,000,000																	58,000,000
repayment of short-term borrowings
repayment of commercial paper																																																	0	0	-300,000,000
net increase in loans to banking clients																																															-289,000,000	-171,000,000	-339,000,000			-660,000,000	-256,000,000			-128,000,000	-244,000,000	-339,000,000	-414,000,000
net change in deposits from banking clients																																															97,000,000	2,619,000,000	6,842,000,000	1,921,000,000	3,047,000,000	10,621,000,000	2,499,000,000	3,998,000,000	1,405,000,000	6,776,000,000	1,739,000,000	1,080,000,000	669,000,000
originations of loans held for sale																																																				0	-6,000,000	-100,000,000	-335,000,000	-435,000,000	-330,000,000	-179,000,000	-630,000,000
proceeds from sales of loans held for sale																																																				0	8,000,000	151,000,000	354,000,000	452,000,000	297,000,000	166,000,000	788,000,000
premium paid on debt exchange																																																				0
non-cash financing activity:
exchange of senior notes																																																				0
non-cash investing activities:
net decrease in loans to banking clients																																																			-530,000,000				34,000,000
cash (paid) acquired in business acquisitions — net
issuance of commercial paper
net proceeds from common stock offering
common stock issued and equity awards assumed for business acquisitions
transfer of trust related balances to deposits from banking clients
cash acquired in business acquisition, net of cash paid																																																								-30,000,000
common stock issued and equity awards assumed for business acquisition
premium (discount) amortization, net, on securities available for sale and securities held to maturity
excess tax benefits from stock-based compensation																																																										-5,000,000	-5,000,000
loss from discontinued operations, net of tax
cash payments for business acquisitions, net of cash acquired
purchase of treasury stock
issuance of common stock for business acquisition

Charles Schwab(NYSE:SCHW)

Charles Schwab
(NYSE:SCHW)