VARIABLE INTEREST ENTITIES (Tables)

6 Months Ended

Mar. 31, 2015

Variable Interest Entities [Abstract]

VIEs where we are the primary beneficiary - aggregate assets and liabilities

The aggregate assets and liabilities of the VIEs we consolidate are provided in the table below.



	Aggregate assets ⁽¹⁾		Aggregate liabilities ⁽¹⁾
	(in thousands)
March 31, 2015
LIHTC Funds	$	156,603	$	49,467
Guaranteed LIHTC Fund ⁽²⁾	73,151		2,101
Restricted Stock Trust Fund	9,727		9,727
EIF Funds	5,559		—
Total	$	245,040	$	61,295

September 30, 2014
LIHTC Funds	$	179,050	$	60,180
Guaranteed LIHTC Fund ⁽²⁾	74,798		—
Restricted Stock Trust Fund	6,608		6,608
EIF Funds	6,041		—
Total	$	266,497	$	66,788


(1)	Aggregate assets and aggregate liabilities differ from the consolidated carrying value of assets and liabilities due to the elimination of intercompany assets and liabilities held by the consolidated VIE.


(2)	In connection with one of the multi-investor tax credit funds in which RJTCF is the managing member, RJTCF has provided one investor member with a guaranteed return on their investment in the fund (the “Guaranteed LIHTC Fund”). See Note 15 for additional information regarding this commitment.

VIEs where we are the primary beneficiary - carrying value of assets, liabilities and equity

The following table presents information about the carrying value of the assets, liabilities and equity of the VIEs which we consolidate and which are included within our Condensed Consolidated Statements of Financial Condition. The noncontrolling interests presented in this table represent the portion of these net assets which are not ours.



	March 31, 2015		September 30, 2014
	(in thousands)
Assets:
Assets segregated pursuant to regulations and other segregated assets	$	10,221	$	10,887
Receivables, other	5,817		5,812
Investments in real estate partnerships held by consolidated variable interest entities	225,557		235,858
Trust fund investment in RJF common stock ⁽¹⁾	9,726		6,607
Prepaid expenses and other assets	5,197		5,728
Total assets	$	256,518	$	264,892

Liabilities and equity:
Trade and other payables	$	18,913	$	10,157
Intercompany payables	9,721		6,608
Loans payable of consolidated variable interest entities ⁽²⁾	34,977		43,877
Total liabilities	63,611		60,642
RJF equity	6,152		6,165
Noncontrolling interests	186,755		198,085
Total equity	192,907		204,250
Total liabilities and equity	$	256,518	$	264,892


(1)	Included in treasury stock in our Condensed Consolidated Statements of Financial Condition.


(2)	Comprised of several non-recourse loans. We are not contingently liable under any of these loans.

VIEs where we are the primary beneficiary - information about net income (loss) of VIEs

The following table presents information about the net income (loss) of the VIEs which we consolidate, and is included within our Condensed Consolidated Statements of Income and Comprehensive Income. The noncontrolling interests presented in this table represent the portion of the net loss from these VIEs which is not ours.



	Three months ended March 31,						Six months ended March 31,
	2015			2014			2015			2014
	(in thousands)
Revenues:
Interest	$	2		$	—		$	2		$	1
Other	(382		)	(1,580		)	292			(1,416		)
Total revenues	(380		)	(1,580		)	294			(1,415		)
Interest expense	(537		)	(797		)	(1,066		)	(1,584		)
Net revenues (expense)	(917		)	(2,377		)	(772		)	(2,999		)

Non-interest expenses ⁽¹⁾	11,085			12,052			19,099			21,017
Net loss including noncontrolling interests	(12,002		)	(14,429		)	(19,871		)	(24,016		)
Net loss attributable to noncontrolling interests	(11,975		)	(14,420		)	(19,858		)	(23,996		)
Net loss attributable to RJF	$	(27	)	$	(9	)	$	(13	)	$	(20	)


(1)	Primarily comprised of items reported in other expense on our Condensed Consolidated Statements of Income and Comprehensive Income.

VIEs where we hold a variable interest but we are not the primary beneficiary - aggregate assets, liabilities and exposure to loss

The aggregate assets, liabilities, and our exposure to loss from those VIEs in which we hold a variable interest, but as to which we have concluded we are not the primary beneficiary, are provided in the table below.



	March 31, 2015						September 30, 2014
	Aggregate assets		Aggregate liabilities		Our risk of loss		Aggregate assets		Aggregate liabilities		Our risk of loss
	(in thousands)
LIHTC Funds	$	3,266,464	$	946,849	$	20,033	$	2,988,224	$	899,586	$	48,915
NMTC Funds	65,503		30		12		83,474		2		13
Other Real Estate Limited Partnerships and LLCs	29,671		36,369		172		30,202		36,262		183
Total	$	3,361,638	$	983,248	$	20,217	$	3,101,900	$	935,850	$	49,111

VIEs where we hold a variable interest but we are not required to consolidated - aggregate assets, liabilities and exposure to loss

The aggregate assets, liabilities, and our exposure to loss from Managed Funds in which we hold a variable interest as of the dates indicated are provided in the table below:



	March 31, 2015						September 30, 2014
	Aggregate assets		Aggregate liabilities		Our risk of loss		Aggregate assets		Aggregate liabilities		Our risk of loss
	(in thousands)
Managed Funds	$	102,524	$	47	$	94	$	103,618	$	11	$	94