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Schwab Charles Corp (SCHW) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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Schwab Charles Corp

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CIK: 316709 Ticker: SCHW

EXHIBIT 99.1

News Release

Contacts:
cslogoa03.jpg
MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525
INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 415-667-1524

SCHWAB REPORTS RECORD FULL-YEAR EARNINGS PER SHARE
Gathered $428 Billion in Annual Core Net New Assets; Added More Than 4 Million New Accounts
2022 Revenues Grew 12% to $20.8 Billion; Earnings per Share Increased to $3.50, $3.90 Adjusted (1)

    WESTLAKE, Texas, January 18, 2023
 – The Charles Schwab Corporation announced today that its net income for the fourth quarter of 2022 was $2.0 billion, up 25% from $1.6 billion for the fourth quarter 2021. Net income for the twelve months ended December 31, 2022 was a record $7.2 billion, an increase of 23% versus the prior year.

Three Months Ended December 31,%Twelve Months Ended December 31,%
Financial Highlights (1)
20222021Change20222021Change
Net revenues (in millions)$5,497 $4,708 17%$20,762 $18,520 12%
Net income (in millions)
GAAP$1,968 $1,580 25%$7,183 $5,855 23%
Adjusted (1)
$2,151 $1,775 21%$7,934 $6,670 19%
Diluted earnings per common share (2)
GAAP$.97 $.76 28%$3.50 $2.83 24%
Adjusted (1)
$1.07 $.86 24%$3.90 $3.25 20%
Pre-tax profit margin
GAAP47.3 %43.0 %45.2 %41.6 %
Adjusted (1)
51.6 %48.4 %50.0 %47.5 %
Return on average common
    stockholders’ equity (annualized)27 %12 %18 %11 %
Return on tangible
common equity (annualized) (1)
102 %24 %42 %22 %
(1) Further details on non-GAAP financial measures and a reconciliation of such measures to GAAP reported results are included on pages 11-12 of this release.
(2) All per-share results are rounded to the nearest cent, based on weighted-average diluted common shares outstanding.

Co-Chairman and CEO Walt Bettinger said, “Our consistent “Through Clients’ Eyes” strategy helped us continue to succeed with clients even as they faced a very difficult environment in 2022. Emerging concerns around inflation and global market stability became reality, with Russia’s invasion of Ukraine exacerbating the impact. Equity markets suffered their worst year since 2008, led by the S&P 500® and NASDAQ Composite® which contracted 19% and 33%, respectively. At the same time, the Federal Reserve tightened short-term rates at the fastest pace in 40 years – pushing the Fed Funds upper bound to 4.50% in December. Additionally, uncertainty around future economic growth increased during the back half of the year, weighing on longer-term rates and leading to an inverted yield curve. This shift reflected the persistent bearish sentiment amongst investors for most of the year – with certain indicators hitting levels below those observed during the 2008 Financial Crisis.”


- 1 -
The following information was filed by Schwab Charles Corp (SCHW) on Wednesday, January 18, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Schwab Charles Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Income (Parenthetical)
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Accumulated Other Comprehensive Income Balances) (Details)
Accumulated Other Comprehensive Income (Narrative) (Details)
Accumulated Other Comprehensive Income (Tables)
Bank Deposits
Bank Deposits (Details)
Bank Deposits (Tables)
Bank Loans And Related Allowance For Credit Losses
Bank Loans And Related Allowance For Credit Losses (Changes In Allowance For Credit Losses) (Details)
Bank Loans And Related Allowance For Credit Losses (Composition Of Bank Loans And Delinquency Analysis By Loan Segment) (Details)
Bank Loans And Related Allowance For Credit Losses (Convert To Amortizing Loans) (Details)
Bank Loans And Related Allowance For Credit Losses (Credit Quality Indicators Of Bank Loan Portfolio) (Details)
Bank Loans And Related Allowance For Credit Losses (Narrative) (Details)
Bank Loans And Related Allowance For Credit Losses (Nonperforming Assets And Troubled Debt Restructuring) (Details)
Bank Loans And Related Allowance For Credit Losses (Tables)
Borrowings
Borrowings (Annual Maturities On Long-Term Debt Outstanding) (Details)
Borrowings (Long-Term Debt Including Unamortized Debt Discounts And Premiums) (Details)
Borrowings (Narrative) (Details)
Borrowings (Tables)
Business Acquisitions
Business Acquisitions (Equity Interest Issued) (Details)
Business Acquisitions (Pro Forma Information Narrative) (Details)
Business Acquisitions (Pro Forma Information) (Details)
Business Acquisitions (Purchase Price) (Details)
Business Acquisitions (Tables)
Business Acquisitions (Tangible And Intangible Assets Acquired) (Details)
Business Acquisitions (Td Ameritrade Narrative) (Details)
Business Acquisitions (Usaa-Imco Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies (Commitments To Extend/Purchase) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Tables)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Assumptions Used To Value Options Granted And Their Expected Lives) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Employee Incentive Narrative) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Financial Consultant Career Achievement Plan Narrative) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Information On Stock Options Granted And Exercised) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Restricted Stock Units Activity) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Restricted Stock Units Narrative) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Retirement And Deferred Compensation Plans Narrative) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Schedule Of Changes In Projected Benefit Obligations) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Stock Option Activity) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Stock-Based Compensation Expense And Related Income Tax Benefit) (Details)
Employee Incentive, Retirement, Deferred Compensation, And Career Achievement Plans (Tables)
Equipment, Office Facilities, And Property
Equipment, Office Facilities, And Property (Details)
Equipment, Office Facilities, And Property (Tables)
Exit And Other Related Liabilities
Exit And Other Related Liabilities (Narrative) (Details)
Exit And Other Related Liabilities (Summary Of The Activity In Exit Liabilities) (Details)
Exit And Other Related Liabilities (Summary Of The Cumulative Acquisition-Related Exit Costs) (Details)
Exit And Other Related Liabilities (Tables)
Fair Values Of Assets And Liabilities
Fair Values Of Assets And Liabilities (Fair Value Hierarchy For Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Values Of Assets And Liabilities (Fair Value Of Other Financial Instruments) (Details)
Fair Values Of Assets And Liabilities (Tables)
Financial Instruments Subject To Off-Balance Sheet Credit Risk
Financial Instruments Subject To Off-Balance Sheet Credit Risk (Narrative) (Details)
Financial Instruments Subject To Off-Balance Sheet Credit Risk (Offsetting Assets And Liabilities) (Details)
Financial Instruments Subject To Off-Balance Sheet Credit Risk (Summary Of The Fair Value Of Client Securities Available To Utilize As Collateral And Amounts Pledged) (Details)
Financial Instruments Subject To Off-Balance Sheet Credit Risk (Tables)
Goodwill And Acquired Intangible Assets
Goodwill And Acquired Intangible Assets (Acquired Intangible Assets) (Details)
Goodwill And Acquired Intangible Assets (Changes In Carrying Amount Of Goodwill As Allocated To Reportable Segments) (Details)
Goodwill And Acquired Intangible Assets (Future Amortization Expense) (Details)
Goodwill And Acquired Intangible Assets (Narrative) (Details)
Goodwill And Acquired Intangible Assets (Tables)
Introduction And Basis Of Presentation
Introduction And Basis Of Presentation (Details)
Investment Securities
Investment Securities (Amortized Cost, Gross Unrealized Gains And Losses, And Fair Value Of Securities Available For Sale And Held To Maturity) (Details)
Investment Securities (Available For Sale With Unrealized Losses, Aggregated By Category And Period Of Continuous Unrealized Loss) (Details)
Investment Securities (Maturities Of Securities Available For Sale And Held To Maturity) (Details)
Investment Securities (Narrative) (Details)
Investment Securities (Proceeds And Gross Realized Gains And Losses From Sales Of Securities Available For Sale) (Details)
Investment Securities (Tables)
Leases
Leases (Lease Assets And Liabilities) (Details)
Leases (Lease Cost, Term And Discount Rate) (Details)
Leases (Maturity Of Lease Liabilities) (Details)
Leases (Tables)
Other Assets
Other Assets (Components Of Other Assets) (Details)
Other Assets (Narrative) (Details)
Other Assets (Tables)
Receivables From And Payables To Brokerage Clients
Receivables From And Payables To Brokerage Clients (Details)
Receivables From And Payables To Brokerage Clients (Tables)
Regulatory Requirements
Regulatory Requirements (Narrative) (Details)
Regulatory Requirements (Net Capital And Net Capital Requirements For Cs&Amp;Co) (Details)
Regulatory Requirements (Regulatory Capital And Ratios) (Details)
Regulatory Requirements (Tables)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Segment Information
Segment Information (Financial Information For Reportable Segments) (Details)
Segment Information (Narrative) (Details)
Segment Information (Tables)
Stockholders' Equity
Stockholders' Equity (Dividends Declared) (Details)
Stockholders' Equity (Narrative) (Details)
Stockholders' Equity (Preferred Stock Issued And Outstanding) (Details)
Stockholders' Equity (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Equipment, Office Facilities, And Property) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Policy)
Summary Of Significant Accounting Policies (Tables)
Taxes On Income
Taxes On Income (Income Tax Expense) (Details)
Taxes On Income (Narrative) (Details)
Taxes On Income (Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits) (Details)
Taxes On Income (Reconciliation Of Federal Statutory Income Tax Rate To Effective Income Tax Rate) (Details)
Taxes On Income (Tables)
Taxes On Income (Temporary Differences That Created Deferred Tax Assets And Liabilities) (Details)
The Charles Schwab Corporation - Parent Company Only Financial Statements
The Charles Schwab Corporation - Parent Company Only Financial Statements (Tables)
The Charles Schwab Corporation ??? Parent Company Only Financial Statements (Condensed Balance Sheets) (Details)
The Charles Schwab Corporation ??? Parent Company Only Financial Statements (Condensed Statements Of Cash Flows) (Details)
The Charles Schwab Corporation ??? Parent Company Only Financial Statements (Condensed Statements Of Income) (Details)
Variable Interest Entities
Variable Interest Entities (Aggregate Assets, Liabilities And Maximum Exposure To Loss) (Details)
Variable Interest Entities (Narrative) (Details)
Variable Interest Entities (Tables)
Ticker: SCHW
CIK: 316709
Form Type: 10-K Annual Report
Accession Number: 0000316709-23-000009
Submitted to the SEC: Fri Feb 24 2023 4:18:16 PM EST
Accepted by the SEC: Fri Feb 24 2023
Period: Saturday, December 31, 2022
Industry: Security Brokers Dealers And Flotation Companies

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