SEC staff questioned STIFEL FINANCIAL CORP's accounting for income taxes
Letter dated
2025-08-29; published on EDGAR 2026-02-26 — the
SEC releases comment letters only after the review closes.
Please revise your future filings to disclose the information required by Item 1406(e) and (f) of Regulation S-K, to the extent material. Note 25 - Income Taxes, page 120 We note your disclosure of $57 million in NOL’s and your recognition of a deferred tax asset valuation allowance of $57 million at December 31, 2024. We also note your disclosure about your “ability to carry back certain tax attributes against…
Evidence
Cited sections
Note 25 - Income Taxes, page 120
Direction
staff to company
Letter dated
2025-08-29
Published on edgar
2026-02-26
Reviewing
Stifel Financial Corp. Form 10-K for Fiscal Year Ended December 31, 2024 Form 8-K, filed July 30, 2025 File No. 001-09305 Dear James Marischen: We have limited
Source
SEC staff comment letter (UPLOAD)
Topics
Income taxes, MD&A, Non-GAAP measures
Why
SEC staff reviewed the company's periodic report and raised written comments on its accounting, or the company replied to them. Letters are published on EDGAR only after the review closes.
An accounting standard (ASU) appears in this filing that did not appear in the previous comparable one, in a sentence describing it as adopted. That is a change in what the company discloses, which is not always a change of policy in the current period: the filing may state an adoption date years earlier.
STIFEL FINANCIAL CORP changed its revenue recognition disclosure
Principal Transactions Financial instruments owned, at fair value and financial instruments sold, but not yet purchased, at fair value are recorded on a trade‑date basis with realized and unrealized gains and losses reflected in principal transactions, net in the accompanying statement of operations.
Evidence
New language
Principal Transactions Financial instruments owned, at fair value and financial instruments sold, but not yet purchased, at fair value are recorded on a trade‑date basis with realized and unrealized gains and losses reflected in principal transactions, net in the accompanying statement of operations., Dividend income, a component of principal transactions, net, is recognized on the ex‑dividend date.
Prior filed
2025-02-26
Prior form
10-K
Similarity
0.296
Source
revenue recognition note comparison
Threshold
0.6
Why
The revenue recognition policy disclosure changed materially from the previous comparable filing.
Language present now, absent from the prior filing:
Principal Transactions Financial instruments owned, at fair value and financial instruments sold, but not yet purchased, at fair value are recorded on a trade‑date basis with realized and unrealized gains and losses reflected in principal transactions, net in the accompanying statement of operations.
Dividend income, a component of principal transactions, net, is recognized on the ex‑dividend date.