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Consolidated Statements Of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]      
Net income $ 503,472 $ 449,986 $ 393,968
Other comprehensive income/(loss), net of tax:      
Changes in unrealized gains/(losses) on available-for-sale securities, net of tax [1],[2],[3],[4] 33,133 60,288 (36,254)
Changes in unrealized losses on cash flow hedging instruments, net of tax [2],[4],[5] (651) (4,402) (792)
Foreign currency translation adjustment, net of tax [2],[4] 6,862 4,932 (5,691)
Total other comprehensive income/(loss), net of tax 39,344 60,818 (42,737)
Comprehensive income 542,816 510,804 351,231
Net income applicable to non-controlling interest   1,590  
Comprehensive income applicable to Stifel Financial Corp. $ 542,816 $ 509,214 $ 351,231
[1] As part of the adoption of ASU 2019-04, in the third quarter of 2019, the Company made a one-time election to transfer a portion of its held-to-maturity securities to available-for-sale. The transfer resulted in a net of tax increase to comprehensive income of $17.9 million. See Notes 2 and 7 for additional information on the transfer.
[2] Net of a tax expense of $11.5 million, tax expense of $20.2 million, and tax benefit of $11.2 million for the years ended December 31, 2020, 2019, and 2018, respectively.
[3] Reclassifications to earnings were immaterial for the years ended December 31, 2020 and 2019. Amounts are net of reclassifications to earnings of realized losses of $2.9 million for the year ended December 31, 2018.
[4] The adoption of ASU 2018-02 on January 1, 2018, resulted in a reclassification of $3.1 million to retained earnings related to cash flow hedges and investment portfolio risk. The reclassification is reflected in the activity for the year ended December 31, 2018. See Note 2 for further details.
[5] Reclassifications to earnings were immaterial for the year ended December 31, 2020. Amounts are net of reclassifications to earnings of gains of $3.3 million and $4.9 million for the years ended December 31, 2019 and 2018, respectively.