ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

3 Months Ended

Dec. 31, 2021

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

All of the components of other comprehensive income/(loss) (“OCI”), net of tax, were attributable to RJF. The following table presents the net change in AOCI as well as the changes, and the related tax effects, of each component of AOCI.


$ in millions	Net investment hedges		Currency translations		Subtotal: net investment hedges and currency translations		Available- for-sale securities		Cash flow hedges		Total
Three months ended December 31, 2021
AOCI as of beginning of period	$	81	$	(90)	$	(9)	$	(5)	$	(27)	$	(41)
OCI:
OCI before reclassifications and taxes	(2)		1		(1)		(72)		8		(65)
Amounts reclassified from AOCI, before tax	—		—		—		—		4		4
Pre-tax net OCI	(2)		1		(1)		(72)		12		(61)
Income tax effect	1		—		1		17		(3)		15
OCI for the period, net of tax	(1)		1		—		(55)		9		(46)
AOCI as of end of period	$	80	$	(89)	$	(9)	$	(60)	$	(18)	$	(87)





















Three months ended December 31, 2020
AOCI as of beginning of period	$	115	$	(140)	$	(25)	$	89	$	(53)	$	11
OCI:
OCI before reclassifications and taxes	(38)		45		7		(18)		3		(8)
Amounts reclassified from AOCI, before tax	—		2		2		(5)		4		1
Pre-tax net OCI	(38)		47		9		(23)		7		(7)
Income tax effect	9		—		9		6		(2)		13
OCI for the period, net of tax	(29)		47		18		(17)		5		6
AOCI as of end of period	$	86	$	(93)	$	(7)	$	72	$	(48)	$	17

Reclassifications from AOCI to net income, excluding taxes, for the three months ended December 31, 2021 were recorded in “Interest expense” on the Condensed Consolidated Statements of Income and Comprehensive Income. Reclassifications from AOCI to net income, excluding taxes, for the three months ended December 31, 2020 were primarily recorded in “Other” revenue and “Interest expense” on the Condensed Consolidated Statements of Income and Comprehensive Income.

Our net investment hedges and cash flow hedges relate to our derivatives associated with Raymond James Bank’s business operations. For further information about our significant accounting policies related to derivatives, see Note 2 of our 2021 Form 10-K. In addition, see Note 6 of this Form 10-Q for additional information on these derivatives.