XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.26.1

SHAREHOLDERS' EQUITY | 9 Months Ended
--- | ---
Jun. 30, 2026
Equity [Abstract] |
SHAREHOLDERS' EQUITY | SHAREHOLDERS’ EQUITY Preferred stock On January 2, 2026, we redeemed all 80,500 outstanding shares of our 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (“Series B Preferred Stock”), which triggered the redemption of the related depositary shares, each representing a 1/40th interest of a share of Series B Preferred Stock, for an aggregate redemption value of $81 million. For further details regarding our preferred stock see Note 19 of our 2025 Form 10‑K. The following table details the shares outstanding, carrying value, and aggregate liquidation preference of our preferred stock.
$ in millions |  | June 30, 2026 |  | September 30, 2025
Series B Preferred Stock: |  |  |  |
Shares outstanding |  | — |  | 80,500
Carrying value |  | $ | — |  |  | $ | 79 |
Aggregate liquidation preference |  | $ | — |  |  | $ | 81 |
The following table details dividends declared and dividends paid on our Series B Preferred Stock for the three and nine months ended June 30, 2026 and 2025.
|  | Three months ended June 30, |  | Nine months ended June 30,
$ in millions, except per share amounts |  | 2026 |  | 2025 |  | 2026 |  | 2025
Dividends declared: |  |  |  |  |  |  |  |
Total dividends declared (1) |  | $ | — |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 4 |
Dividends declared per preferred share |  | $ | — |  |  | $ | 15.94 |  |  | $ | 15.94 |  |  | $ | 47.82 |
Dividends paid: |  |  |  |  |  |  |  |
Total dividends paid (1) |  | $ | — |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 4 |
Dividends paid per preferred share |  | $ | — |  |  | $ | 15.94 |  |  | $ | 31.88 |  |  | $ | 47.82 |
(1)Preferred stock dividends on our Condensed Consolidated Statements of Income and Comprehensive Income for the nine months ended June 30, 2026 included the $2 million excess of the redemption value of our Series B Preferred Stock over the carrying value, which was reported as an increase to preferred dividends and reduced net income available to common shareholders. Common equity The following table presents the changes in our common shares outstanding for the three and nine months ended June 30, 2026 and 2025.
|  | Three months ended June 30, |  | Nine months ended June 30,
Shares in millions |  | 2026 |  | 2025 |  | 2026 |  | 2025
Balance beginning of period |  | 194.6 |  |  | 203.1 |  |  | 198.1 |  |  | 203.3 |
Repurchases of common stock under the Board of Directors’ common stock repurchase authorization |  | (2.6) |  |  | (3.3) |  |  | (7.7) |  |  | (5.3) |
Issuances due to vesting of RSUs, employee stock purchases, and exercise of stock options, net of forfeitures |  | 0.1 |  |  | 0.2 |  |  | 1.7 |  |  | 2.0 |
Balance end of period |  | 192.1 |  |  | 200.0 |  |  | 192.1 |  |  | 200.0 |
We issue shares from time to time during the year to satisfy obligations under certain of our share-based compensation programs, some of which may be reissued out of treasury shares. See Note 21 of this Form 10-Q and Note 22 of our 2025 Form 10-K for additional information on these programs. Share repurchases We repurchase shares of our common stock from time to time for a number of reasons, including to offset dilution, which could arise from share issuances resulting from share-based compensation programs or acquisitions. In December 2025, our Board of Directors authorized common stock repurchases of up to $2 billion, which replaced the previous authorization. Our share repurchases are effected primarily through regular open-market purchases, typically under a SEC Rule 10b-18 plan, the amounts and timing of which are determined primarily by our current and projected capital position, applicable legal and regulatory constraints, general market conditions and the price and trading volumes of our common stock. During the three months ended June 30, 2026, we repurchased 2.6 million shares of our common stock for $400 million at an average price of $152 per share. During the nine months ended June 30, 2026, we repurchased 7.7 million shares of our common stock for $1.2 billion. As of June 30, 2026, $1.1 billion remained available under the Board of Directors’ common stock repurchase authorization. Common stock dividends Dividends per common share declared and paid are detailed in the following table for each respective period.
|  | Three months ended June 30, |  | Nine months ended June 30,
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Dividends per common share - declared |  | $ | 0.54 |  |  | $ | 0.50 |  |  | $ | 1.62 |  |  | $ | 1.50 |
Dividends per common share - paid |  | $ | 0.54 |  |  | $ | 0.50 |  |  | $ | 1.58 |  |  | $ | 1.45 |
Our dividend payout ratio is detailed in the following table for each respective period and is computed by dividing dividends declared per common share by earnings per diluted common share.
|  | Three months ended June 30, |  | Nine months ended June 30,
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Dividend payout ratio |  | 17.9 | % |  | 23.6 | % |  | 19.0 | % |  | 20.4 | %
We expect to continue paying cash dividends; however, the payment and rate of dividends on our common stock are subject to several factors including our operating results, financial and regulatory requirements or restrictions, and the availability of funds from our subsidiaries, including our broker-dealer and bank subsidiaries, which may also be subject to restrictions under regulatory capital rules. The availability of funds from subsidiaries may also be subject to restrictions contained in loan covenants of certain broker-dealer loan agreements and restrictions by our regulators on dividends to the parent from our subsidiaries. See Note 22 of this Form 10-Q for additional information on our regulatory capital requirements. Accumulated other comprehensive income/(loss) All of the components of other comprehensive income/(loss) (“OCI”), net of tax, were attributable to RJF. The following table presents the net change in AOCI as well as the changes, and the related tax effects, of each component of AOCI.
$ in millions |  | Net investment hedges |  | Currency translations |  | Subtotal: net investment hedges and currency translations |  | Available- for-sale securities |  | Cash flow hedges |  | Total
Three months ended June 30, 2026 |  |  |  |  |  |  |  |  |  |  |  |
AOCI as of beginning of period |  | $ | 190 |  |  | $ | (205) |  |  | $ | (15) |  |  | $ | (358) |  |  | $ | 5 |  |  | $ | (368) |
OCI: |  |  |  |  |  |  |  |  |  |  |  |
OCI before reclassifications and taxes |  | 29 |  |  | (25) |  |  | 4 |  |  | (13) |  |  | 1 |  |  | (8) |
Amounts reclassified from AOCI, before tax |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (2) |
Pre-tax net OCI |  | 29 |  |  | (25) |  |  | 4 |  |  | (13) |  |  | (1) |  |  | (10) |
Income tax effect |  | (6) |  |  | — |  |  | (6) |  |  | 3 |  |  | — |  |  | (3) |
OCI for the period, net of tax |  | 23 |  |  | (25) |  |  | (2) |  |  | (10) |  |  | (1) |  |  | (13) |
AOCI as of end of period |  | $ | 213 |  |  | $ | (230) |  |  | $ | (17) |  |  | $ | (368) |  |  | $ | 4 |  |  | $ | (381) |
Nine months ended June 30, 2026 |  |  |  |  |  |  |  |  |  |  |  |
AOCI as of beginning of period |  | $ | 184 |  |  | $ | (196) |  |  | $ | (12) |  |  | $ | (391) |  |  | $ | 7 |  |  | $ | (396) |
OCI: |  |  |  |  |  |  |  |  |  |  |  |
OCI before reclassifications and taxes |  | 38 |  |  | (34) |  |  | 4 |  |  | 31 |  |  | 3 |  |  | 38 |
Amounts reclassified from AOCI, before tax |  | — |  |  | — |  |  | — |  |  | — |  |  | (7) |  |  | (7) |
Pre-tax net OCI |  | 38 |  |  | (34) |  |  | 4 |  |  | 31 |  |  | (4) |  |  | 31 |
Income tax effect |  | (9) |  |  | — |  |  | (9) |  |  | (8) |  |  | 1 |  |  | (16) |
OCI for the period, net of tax |  | 29 |  |  | (34) |  |  | (5) |  |  | 23 |  |  | (3) |  |  | 15 |
AOCI as of end of period |  | $ | 213 |  |  | $ | (230) |  |  | $ | (17) |  |  | $ | (368) |  |  | $ | 4 |  |  | $ | (381) |
Three months ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
AOCI as of beginning of period |  | $ | 205 |  |  | $ | (263) |  |  | $ | (58) |  |  | $ | (496) |  |  | $ | 8 |  |  | $ | (546) |
OCI: |  |  |  |  |  |  |  |  |  |  |  |
OCI before reclassifications and taxes |  | (60) |  |  | 104 |  |  | 44 |  |  | 71 |  |  | — |  |  | 115 |
Amounts reclassified from AOCI, before tax |  | — |  |  | — |  |  | — |  |  | — |  |  | (4) |  |  | (4) |
Pre-tax net OCI |  | (60) |  |  | 104 |  |  | 44 |  |  | 71 |  |  | (4) |  |  | 111 |
Income tax effect |  | 14 |  |  | — |  |  | 14 |  |  | (18) |  |  | 1 |  |  | (3) |
OCI for the period, net of tax |  | (46) |  |  | 104 |  |  | 58 |  |  | 53 |  |  | (3) |  |  | 108 |
AOCI as of end of period |  | $ | 159 |  |  | $ | (159) |  |  | $ | — |  |  | $ | (443) |  |  | $ | 5 |  |  | $ | (438) |
Nine months ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
AOCI as of beginning of period |  | $ | 145 |  |  | $ | (169) |  |  | $ | (24) |  |  | $ | (485) |  |  | $ | 7 |  |  | $ | (502) |
OCI: |  |  |  |  |  |  |  |  |  |  |  |
OCI before reclassifications and taxes |  | 19 |  |  | 10 |  |  | 29 |  |  | 52 |  |  | 13 |  |  | 94 |
Amounts reclassified from AOCI, before tax |  | — |  |  | — |  |  | — |  |  | 2 |  |  | (16) |  |  | (14) |
Pre-tax net OCI |  | 19 |  |  | 10 |  |  | 29 |  |  | 54 |  |  | (3) |  |  | 80 |
Income tax effect |  | (5) |  |  | — |  |  | (5) |  |  | (12) |  |  | 1 |  |  | (16) |
OCI for the period, net of tax |  | 14 |  |  | 10 |  |  | 24 |  |  | 42 |  |  | (2) |  |  | 64 |
AOCI as of end of period |  | $ | 159 |  |  | $ | (159) |  |  | $ | — |  |  | $ | (443) |  |  | $ | 5 |  |  | $ | (438) |
Reclassifications from AOCI to net income, excluding taxes, for the three and nine months ended June 30, 2026 and three months ended June 30, 2025 were recorded in “Interest expense” on the Condensed Consolidated Statements of Income and Comprehensive Income. Reclassifications from AOCI to net income, excluding taxes, for the nine months ended June 30, 2025 were recorded in “Other revenue” and “Interest expense” on the Condensed Consolidated Statements of Income and Comprehensive Income. Our net investment hedges and cash flow hedges relate to derivatives associated with our Bank segment. For further information about our significant accounting policies related to derivatives, see Note 2 of our 2025 Form 10-K. In addition, see Note 6 of this Form 10-Q for additional information on these derivatives.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479951/505-20-S50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S25 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479982/505-20-S25-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479951/505-20-S50-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S25 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479982/505-20-S25-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-4 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481520/505-30-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 1.D.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479921/505-20-S99-1 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479951/505-20-S50-3 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 1.B.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480148/855-10-S99-1 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 20 -Name Accounting Standards Codification -Section S25 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479982/505-20-S25-3 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 32: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 35: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration