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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2025
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY Dividends The payment, timing, and amount of any dividends are subject to approval by LPLFH’s Board of Directors (the “Board”) as well as certain limits under the Credit Agreement. Cash dividends per share of common stock and total cash dividends paid on a quarterly basis were as follows (in millions, except per share data):
| 2025 | 2024 | 2023
| Dividend per Share | Total Cash Dividend | Dividend per Share | Total Cash Dividend | Dividend per Share | Total Cash Dividend
First quarter | $ | 0.30 |  | $ | 22.4 |  | $ | 0.30 |  | $ | 22.4 |  | $ | 0.30 |  | $ | 23.6 |
Second quarter | $ | 0.30 |  | $ | 24.0 |  | $ | 0.30 |  | $ | 22.4 |  | $ | 0.30 |  | $ | 23.1 |
Third quarter | $ | 0.30 |  | $ | 24.0 |  | $ | 0.30 |  | $ | 22.4 |  | $ | 0.30 |  | $ | 22.8 |
Fourth quarter | $ | 0.30 |  | $ | 24.0 |  | $ | 0.30 |  | $ | 22.5 |  | $ | 0.30 |  | $ | 22.7 |
Share Repurchases The Company engages in a share repurchase program that was approved by the Board, pursuant to which LPLFH may repurchase its issued and outstanding shares of common stock from time to time. Repurchased shares are included in treasury stock on the consolidated statements of financial condition. On September 21, 2022, the Board authorized a $2.1 billion increase to the amount available for repurchases of the Company’s issued and outstanding common shares. During the year ended December 31, 2025, LPLFH repurchased 289,371 shares of common stock at a weighted-average price of $345.59 for a total of $100.0 million. As of December 31, 2025, the Company had $630.0 million remaining under the existing share repurchase program. The Company paused share repurchases in early 2025 in anticipation of the Commonwealth acquisition. Future share repurchases may be effected in open market or privately negotiated transactions, including transactions with affiliates, with the timing of purchases and the amount of stock purchased generally determined at the discretion of the Company within the constraints of the Credit Agreement and the Company’s general working capital needs. Equity Offering On April 2, 2025, the Company completed a public offering of approximately5.4 million shares of the Company’s common stock at an offering price of $320.00 per share. The Company received proceeds of approximately $1.7 billion, which were used to fund the acquisition of Commonwealth. In connection with the issuance, the Company incurred incremental costs of $48.1 million, which were recorded as a reduction to the offering proceeds. See Note 4 - Acquisitions for additional information.

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