PIPER SANDLER COMPANIES
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
PIPR$66.75-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Notes to the Consolidated Financial Statements
Index
| Note 1 | Organization and Basis of Presentation | 65 |
|---|---|---|
| Note 2 | Summary of Significant Accounting Policies | 65 |
| Note 3 | Recent Accounting Pronouncements | 71 |
| Note 4 | Acquisitions | 71 |
| Note 5 | Receivables from and Payables to Brokers, Dealers and Clearing Organizations | 74 |
| Note 6 | Fair Value of Financial Instruments | 74 |
| Note 7 | Financial Instruments and Other Inventory Positions | 81 |
| Note 8 | Investments | 83 |
| Note 9 | Variable Interest Entities | 83 |
| Note 10 | Fixed Assets | 84 |
| Note 11 | Goodwill and Intangible Assets | 85 |
| Note 12 | Other Assets | 86 |
| Note 13 | Short-Term Financing | 86 |
| Note 14 | Leases | 87 |
| Note 15 | Contingencies, Commitments and Guarantees | 87 |
| Note 16 | Shareholders' Equity | 89 |
| Note 17 | Business Segment and Revenues Information | 91 |
| Note 18 | Compensation Plans | 92 |
| Note 19 | Employee Benefit Plans | 100 |
| Note 20 | Restructuring and Integration Costs | 100 |
| Note 21 | Income Taxes | 101 |
| Note 22 | Earnings Per Share | 105 |
| Note 23 | Net Capital Requirements and Other Regulatory Matters | 106 |
| Note 24 | Parent Company Only | 106 |
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