XML 72 R53.htm IDEA: XBRL DOCUMENT
v3.25.4

Parent Company Only (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Condition | Condensed Statements of Financial Condition
| December 31, |  | December 31,
(Amounts in thousands) | 2025 |  | 2024
Assets |  |  |
Cash and cash equivalents | $ | 2 |  |  | $ | 1 |
Investment in and advances to subsidiaries | 1,398,188 |  |  | 1,218,689 |
Other assets | 74,386 |  |  | 73,389 |
Total assets | $ | 1,472,576 |  |  | $ | 1,292,079 |
Liabilities and Shareholders' Equity |  |  |
Short-term financing | $ | 15,000 |  |  | $ | 10,000 |
Accrued compensation | 82,235 |  |  | 51,180 |
Other liabilities and accrued expenses | 4,334 |  |  | 3,069 |
Total liabilities | 101,569 |  |  | 64,249 |
Shareholders' equity | 1,371,007 |  |  | 1,227,830 |
Total liabilities and shareholders' equity | $ | 1,472,576 |  |  | $ | 1,292,079 |
Condensed Statements of Operations | Condensed Statements of Operations
| Year Ended December 31,
(Amounts in thousands) | 2025 |  | 2024 |  | 2023
Revenues |  |  |  |  |
Dividends from subsidiaries | $ | 207,000 |  |  | $ | 149,725 |  |  | $ | 118,934 |
Interest income | 6,227 |  |  | 2,988 |  |  | 917 |
Investment income | 4,978 |  |  | 3,263 |  |  | 1,823 |
Total revenues | 218,205 |  |  | 155,976 |  |  | 121,674 |
Interest expense | 1,383 |  |  | 958 |  |  | 6,083 |
Net revenues | 216,822 |  |  | 155,018 |  |  | 115,591 |
Total non-interest expenses | 7,411 |  |  | 6,401 |  |  | 6,319 |
Income before income tax expense and equity in income of subsidiaries | 209,411 |  |  | 148,617 |  |  | 109,272 |
Income tax expense | 55,494 |  |  | 38,641 |  |  | 28,957 |
Income of parent company | 153,917 |  |  | 109,976 |  |  | 80,315 |
Equity in undistributed income of subsidiaries | 127,414 |  |  | 71,138 |  |  | 5,176 |
Net income attributable to Piper Sandler Companies | $ | 281,331 |  |  | $ | 181,114 |  |  | $ | 85,491 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
| Year Ended December 31,
(Amounts in thousands) | 2025 |  | 2024 |  | 2023
Operating Activities |  |  |  |  |
Net income | $ | 281,331 |  |  | $ | 181,114 |  |  | $ | 85,491 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Stock-based compensation | 1,318 |  |  | 1,080 |  |  | 1,168 |
Equity in undistributed income of subsidiaries | (127,414) |  |  | (71,138) |  |  | (5,176) |
Net cash provided by operating activities | 155,235 |  |  | 111,056 |  |  | 81,483 |
Financing Activities |  |  |  |  |
Net change in short-term financing | 5,000 |  |  | (20,000) |  |  | 30,000 |
Repayment of long-term financing | — |  |  | — |  |  | (125,000) |
Advances from subsidiaries | 74,708 |  |  | 48,205 |  |  | 168,541 |
Payment of cash dividends | (114,146) |  |  | (73,726) |  |  | (84,444) |
Repurchase of common stock | (125,043) |  |  | (66,426) |  |  | (70,680) |
Proceeds from stock option exercises | 4,247 |  |  | 792 |  |  | — |
Net cash used in financing activities | (155,234) |  |  | (111,155) |  |  | (81,583) |
Net change in cash and cash equivalents | 1 |  |  | (99) |  |  | (100) |
Cash and cash equivalents at beginning of year | 1 |  |  | 100 |  |  | 200 |
Cash and cash equivalents at end of year | $ | 2 |  |  | $ | 1 |  |  | $ | 100 |

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

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration