PIPER SANDLER COMPANIES
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
PIPR$66.75-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Parent Company Only
NOTE 24| PARENT COMPANY ONLY
Condensed Statements of Financial Condition
| December 31, | December 31, | |
|---|---|---|
| (Amounts in thousands) | 2024 | 2023 |
| Assets | ||
| Cash and cash equivalents | $1 | $100 |
| Investment in and advances to subsidiaries | 1,218,689 | 1,147,090 |
| Other assets | 73,389 | 14,346 |
| Total assets | $1,292,079 | $1,161,536 |
| Liabilities and Shareholders' Equity | ||
| Short-term financing | $10,000 | $30,000 |
| Accrued compensation | 51,180 | 42,698 |
| Other liabilities and accrued expenses | 3,069 | 3,340 |
| Total liabilities | 64,249 | 76,038 |
| Shareholders' equity | 1,227,830 | 1,085,498 |
| Total liabilities and shareholders' equity | $1,292,079 | $1,161,536 |
Condensed Statements of Operations
| Year Ended December 31, | |||
|---|---|---|---|
| (Amounts in thousands) | 2024 | 2023 | 2022 |
| Revenues | |||
| Dividends from subsidiaries | $149,725 | $118,934 | $172,383 |
| Interest income | 2,988 | 917 | 1,235 |
| Investment income/(loss) | 3,263 | 1,823 | (3,461) |
| Total revenues | 155,976 | 121,674 | 170,157 |
| Interest expense | 958 | 6,083 | 6,759 |
| Net revenues | 155,018 | 115,591 | 163,398 |
| Total non-interest expenses | 6,401 | 6,319 | 4,497 |
| Income before income tax expense and equity in income of subsidiaries | 148,617 | 109,272 | 158,901 |
| Income tax expense | 38,641 | 28,957 | 41,050 |
| Income of parent company | 109,976 | 80,315 | 117,851 |
| Equity in undistributed/(distributed in excess of) income of subsidiaries | 71,138 | 5,176 | (7,177) |
| Net income attributable to Piper Sandler Companies | $181,114 | $85,491 | $110,674 |
Condensed Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (Amounts in thousands) | 2024 | 2023 | 2022 |
| Operating Activities | |||
| Net income | $181,114 | $85,491 | $110,674 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Stock-based compensation | 1,080 | 1,168 | 941 |
| Equity distributed in excess of/(in undistributed) income of subsidiaries | (71,138) | (5,176) | 7,177 |
| Net cash provided by operating activities | 111,056 | 81,483 | 118,792 |
| Financing Activities | |||
| Net change in short-term financing | (20,000) | 30,000 | — |
| Repayment of long-term financing | — | (125,000) | — |
| Advances from subsidiaries | 48,205 | 168,541 | 176,070 |
| Payment of cash dividends | (73,726) | (84,444) | (107,528) |
| Repurchase of common stock | (66,426) | (70,680) | (187,334) |
| Proceeds from stock option exercises | 792 | — | — |
| Net cash used in financing activities | (111,155) | (81,583) | (118,792) |
| Net change in cash and cash equivalents | (99) | (100) | — |
| Cash and cash equivalents at beginning of year | 100 | 200 | 200 |
| Cash and cash equivalents at end of year | $1 | $100 | $200 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.