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Raymond James Financial Inc (RJF) SEC Filing 10-K Annual Report for the fiscal year ending Friday, September 30, 2022

SEC Filings

Raymond James Financial Inc

CIK: 720005 Ticker: RJF

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October 26, 2022
FOR IMMEDIATE RELEASE
Media Contact: Steve Hollister, 727.567.2824
Investor Contact: Kristina Waugh, 727.567.7654
raymondjames.com/news-and-media/press-releases




RAYMOND JAMES FINANCIAL REPORTS FISCAL FOURTH QUARTER AND
FISCAL 2022 RESULTS

Domestic Private Client Group net new asset(1) growth of 9.0% for the fiscal year and 8.3% annualized for the fiscal fourth quarter
Record quarterly net revenues of $2.83 billion, up 5% over the prior year’s fiscal fourth quarter and 4% over the preceding quarter
Quarterly net income available to common shareholders of $437 million, or $1.98 per diluted share, and quarterly adjusted net income available to common shareholders of $459 million(2), or $2.08 per diluted share(2)
Record annual net revenues of $11.0 billion, record annual net income available to common shareholders of $1.51 billion, or $6.98 per diluted share, and record annual adjusted net income available to common shareholders of $1.62 billion(2), or $7.49 per diluted share(2)
Client assets under administration of $1.09 trillion and financial assets under management of $173.8 billion
Record net loans in the Bank segment of $43.2 billion, up 73% over September 2021 and 3% over June 2022
Net interest income and Raymond James Bank Deposit Program (“RJBDP”) fees from third-party banks of $606 million during the quarter, up 206% over the prior year’s fiscal fourth quarter and 64% over the preceding quarter
Annualized return on common equity for the quarter of 18.7% and annualized adjusted return on tangible common equity for the quarter of 24.1%(2)

ST. PETERSBURG, Fla. – Raymond James Financial, Inc. (NYSE: RJF) today reported net revenues of $2.83 billion and net income available to common shareholders of $437 million, or $1.98 per diluted share, for the fiscal fourth quarter ended September 30, 2022. Excluding $30 million of expenses related to acquisitions, quarterly adjusted net income available to common shareholders was $459 million(2), or $2.08 per diluted share(2).

Quarterly net revenues grew 5% over the prior year’s fiscal fourth quarter and 4% over the preceding quarter, largely driven by the benefit of higher short-term interest rates on net interest income and RJBDP fees from third-party banks, which more than offset declines in asset management and related administrative fees and total brokerage revenues largely attributable to the decline in equity markets.

Quarterly net income available to common shareholders increased 2% compared to the prior year’s fiscal fourth quarter reflecting the aforementioned revenue growth which was partially offset by higher non-compensation expenses and a higher effective tax rate. The fiscal fourth quarter included a full quarter of results for TriState Capital(3) and SumRidge Partners(4) which added approximately $25 million of incremental non-compensation expenses sequentially, excluding bank loan provision for credit losses. The effective tax rate for the quarter increased to 28.7%, primarily attributable to nondeductible losses on the corporate owned life insurance portfolio.

Please refer to the footnotes at the end of this press release for additional information.
1

The following information was filed by Raymond James Financial Inc (RJF) on Wednesday, October 26, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Raymond James Financial Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (Parenthetical)
Consolidated Statements Of Income And Comprehensive Income
Acquisitions
Acquisitions (Tables)
Acquisitions, All Other Acquisitions - Purchase Price, Fair Value Estimates Of Assets Acquired And Liabilities Assumed, And Resulting Goodwill (Details)
Acquisitions, All Other Acquisitions Narrative (Details)
Acquisitions, Identifiable Intangible Assets Acquired (Details)
Acquisitions, Other Borrowings (Details)
Acquisitions, Pcd Loans (Details)
Acquisitions, Pro Forma Financial Information (Details)
Acquisitions, Tristate - Purchase Price, Fair Value Estimates Of Assets Acquired And Liabilities Assumed, And Resulting Goodwill (Details)
Acquisitions, Tristate Capital Narrative (Details)
Available-For-Sale Securities
Available-For-Sale Securities (Tables)
Available-For-Sale Securities, Amortized Cost And Fair Values Of Afs Securities (Details)
Available-For-Sale Securities, Contractual Maturities (Details)
Available-For-Sale Securities, Gross Unrealized Losses And Fair Value And Significant Assumptions (Details)
Available-For-Sale Securities, Narrative (Details)
Bank Deposits
Bank Deposits (Tables)
Bank Deposits, Maturities By Fiscal Year Of Certificates Of Deposit (Details)
Bank Deposits, Schedule Maturities Of Certificates Of Deposit (Details)
Bank Deposits, Summary Of Bank Deposits (Details)
Bank Deposits, Summary Of Interest Expense On Deposits (Details)
Bank Loans, Net
Bank Loans, Net (Tables)
Bank Loans, Net, Allowance For Loan Losses (Details)
Bank Loans, Net, Analysis Of Payment Status Of Loans Held For Investment And Collateral Dependent Loans (Details)
Bank Loans, Net, Credit Quality Of Held For Investment Loan Portfolio (Details)
Bank Loans, Net, Held For Investment Residential Mortgage Loan Portfolio By Fico Score And By Ltv Ratio (Details)
Bank Loans, Net, Held For Sale And Held For Investment (Details)
Bank Loans, Net, Originations, Purchases, And Sales (Details)
Collateralized Agreements And Financings
Collateralized Agreements And Financings (Tables)
Collateralized Agreements And Financings, Collateral (Details)
Collateralized Agreements And Financings, Encumbered Assets (Details)
Collateralized Agreements And Financings, Repurchase Agreements, Securities Lending Transactions &Amp; Repurchase-To-Maturity Transactions Accounted For As Secured Borrowings (Details)
Collateralized Agreements And Financings, Schedule Of Offsetting Transactions (Details)
Commitments, Contingencies And Guarantees
Commitments, Contingencies And Guarantees (Tables)
Commitments, Contingencies And Guarantees, Commitments Narrative (Details)
Commitments, Contingencies And Guarantees, Guarantees (Details)
Commitments, Contingencies And Guarantees, Legal And Regulatory Matter Contingencies (Details)
Commitments, Contingencies And Guarantees, Summary Of Off-Balance Sheet Risks (Details)
Condensed Financial Information (Parent Company Only)
Condensed Financial Information (Parent Company Only) (Tables)
Condensed Financial Information (Parent Company Only), Condensed Statement Of Cash Flows (Details)
Condensed Financial Information (Parent Company Only), Condensed Statement Of Financial Condition (Details)
Condensed Financial Information (Parent Company Only), Condensed Statement Of Income (Details)
Condensed Financial Information (Parent Company Only), Narrative (Details)
Derivative Assets And Derivative Liabilities
Derivative Assets And Derivative Liabilities (Tables)
Derivative Assets And Derivative Liabilities, Derivative Asset And Liability Fair Value (Details)
Derivative Assets And Derivative Liabilities, Derivative Gain (Loss) Recognized In Aoci (Details)
Derivative Assets And Derivative Liabilities, Income Statement Location (Details)
Derivative Assets And Derivative Liabilities, Narrative (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value
Fair Value (Tables)
Fair Value, Carrying Amounts And Estimated Fair Value Of Financial Instruments Not Recorded On Balance Sheet (Details)
Fair Value, Investments In Private Equity Measured At Net Asset Value Per Share (Details)
Fair Value, Level 3 Financial Assets And Liabilities, Narrative (Details)
Fair Value, Level 3 Financial Assets And Liabilities, Roll Forward (Details)
Fair Value, Recurring And Nonrecurring Fair Value Measurements (Details)
Fair Value, Significant Assumptions Used In Valuation Of Financial Instruments (Details)
Goodwill And Identifiable Intangible Assets, Net
Goodwill And Identifiable Intangible Assets, Net (Tables)
Goodwill And Identifiable Intangible Assets, Net, Intangible Assets, By Type (Details)
Goodwill And Identifiable Intangible Assets, Net, Narrative (Details)
Goodwill And Identifiable Intangible Assets, Net, Net Intangible Assets (Details)
Goodwill And Identifiable Intangible Assets, Net, Projected Amortization Expense (Details)
Goodwill And Identifiable Intangible Assets, Net, Schedule Of Goodwill (Details)
Goodwill And Identifiable Intangible Assets, Net, Schedule Of Goodwill And Net Identifiable Intangible Asset Balances (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes, Components Of Income Excluding Noncontrolling Interests Before Provision For Income Taxes (Details)
Income Taxes, Deferred Tax Asset (Liability) (Details)
Income Taxes, Effective Income Tax Reconciliation (Details)
Income Taxes, Income Tax Allocation (Details)
Income Taxes, Provision (Benefit) For Income Taxes (Details)
Income Taxes, Unrecognized Tax Benefits (Details)
Interest Income And Interest Expense
Interest Income And Interest Expense (Details)
Interest Income And Interest Expense (Tables)
Leases
Leases (Tables)
Leases - Weighted Average Remaining Lease Term And Discount Rate (Details)
Leases, Lease Cost (Details)
Leases, Narrative (Details)
Leases, Operating Lease Assets And Liabilities (Details)
Leases, Operating Lease Maturities (Details)
Loans To Financial Advisors, Net
Loans To Financial Advisors, Net (Tables)
Loans To Financial Advisors, Net, Balance Of Loans To Financial Advisors (Details)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Borrowings
Other Borrowings (Tables)
Other Borrowings, Fhlb Advances (Details)
Other Borrowings, Other (Details)
Other Borrowings, Schedule Of Other Borrowings (Details)
Other Borrowings, Subordinated Notes (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Regulatory Capital Requirements
Regulatory Capital Requirements (Tables)
Regulatory Capital Requirements, Rj&Amp;A (Details)
Regulatory Capital Requirements, Rjf And Rjb (Details)
Revenues
Revenues (Tables)
Revenues, Additional Information (Details)
Revenues, Disaggregation Of Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information, Classified By Major Geographic Areas (Details)
Segment Information, Information Concerning Operations (Details)
Senior Notes Payable
Senior Notes Payable (Tables)
Senior Notes Payable, Schedule Of Senior Notes Payable (Details)
Share-Based And Other Compensation
Share-Based And Other Compensation (Tables)
Share-Based And Other Compensation, Employee Other Compensation (Details)
Share-Based And Other Compensation, Employee Stock Purchase Plan (Details)
Share-Based And Other Compensation, Restricted Stock Award (Details)
Share-Based And Other Compensation, Restricted Stock Award, Expense And Income Tax Benefits (Details)
Share-Based And Other Compensation, Restricted Stock Awards Narrative (Details)
Share-Based And Other Compensation, Restricted Stock Units And Restricted Stock Award, Narrative (Details)
Share-Based And Other Compensation, Rsu Activity (Details)
Share-Based And Other Compensation, Stock Based Compensation Plan, Narrative (Details)
Share-Based And Other Compensation, Stock Options Narrative (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity, Common Stock Dividends Declared And Paid (Details)
Shareholders' Equity, Narrative (Details)
Shareholders' Equity, Preferred Stock Dividends (Details)
Shareholders' Equity, Schedule Of Accumulated Other Comprehensive (Loss) Income (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies, Other Narrative (Details)
Summary Of Significant Accounting Policies, Property Plant And Equipment (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities, Not The Primary Beneficiary - Aggregate Assets, Liabilities Exposure To Loss (Details)
Variable Interest Entities, Primary Beneficiary - Aggregate Assets And Liabilities (Details)
Variable Interest Entities, Primary Beneficiary - Carrying Value Of Assets, Liabilities And Equity (Details)
Ticker: RJF
CIK: 720005
Form Type: 10-K Annual Report
Accession Number: 0000720005-22-000066
Submitted to the SEC: Tue Nov 22 2022 4:40:10 PM EST
Accepted by the SEC: Tue Nov 22 2022
Period: Friday, September 30, 2022
Industry: Security Brokers Dealers And Flotation Companies

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