Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 359

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 359
---
707

        Internally developed software

        103,351

        85,993

        Leasehold improvements

        89,382

        141,585

        Building

        81,207

        80,771

        Aircraft engine operating leases

        4,886

        2,370

        491,909

        667,426

        Accumulated depreciation and amortization

        (298,753
        )

        (475,898
        )

        $
        193,156

        $
        191,528

      For the years ended December 31, 2024, 2023, and 2022, depreciation and amortization totaled $62.4 million, $60.5 million, and $50.6 million, respectively.Aircraft Engine Operating LeasesAs of December 31, 2024, the Company had a total lease portfolio of 18 aircraft engines with a net book value of $121.3 million. The aircraft engines were purchased by the Company, through its subsidiaries, during 2024. See Note 29 for additional information.During the third quarter of 2024, the Company transferred 22 aircraft engines with a net book value of $152.1 million from aircraft engine operating leases included in fixed assets, net to aircraft engines held for sale, included in other assets in the accompanying consolidated statements of financial condition. The Company ceases recognition of depreciation expense once an aircraft engine is classified as held for sale.During the year ended December 31, 2024, the Company sold 11 aircraft engines with a net book value of $59.4 million and recognized a gain from the sale of $46.5 million, which is included in principal transactions in the consolidated statements of operations.Lease income, included in other income in the consolidated statements of operations, was $25.3 million for the year ended December 31, 2024.

NOTE 10 – Goodwill and Intangible AssetsThe carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands): 

        December 31,2023

        Adjustments

        Write-off

        December 31,2024

        Goodwill

        Global Wealth Management
         
        $
        335,009

        $
        —

        $
        —

        $
        335,009

        Institutional Group

        1,053,234

        6