PIPER SANDLER COMPANIES
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Other Assets
NOTE 12| OTHER ASSETS
| December 31, | December 31, | |
|---|---|---|
| (Amounts in thousands) | 2024 | 2023 |
| Installment fee receivables | $43,993 | $— |
| Fee receivables | 53,189 | 27,765 |
| Forgivable employee loans | 45,526 | 15,771 |
| Prepaid expenses | 26,478 | 22,396 |
| Income tax receivables | — | 5,939 |
| Other | 14,606 | 14,084 |
| Total other assets | $183,792 | $85,955 |
The Company's installment fee receivables and forgivable employee loans are carried at amortized cost, which approximates fair value, and would be categorized as Level II assets in the fair value hierarchy if they were carried at fair value.
The Company estimates the allowance for credit losses using relevant available information from internal and external sources relating to historical credit loss experience, current economic conditions and reasonable and supportable forecasts that could potentially affect the collectibility of the reported amounts. The allowance for credit losses was immaterial at December 31, 2024 and 2023.
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