Is RETURN going out the method at any moment, even if it is in a complex IF statement?

I have a code like this:

private final Something (SomethingElse nimportant)

    List list = (List) mListOfSomething.get(SOME_ENUMS);

    if (list == null) 
// dont ask me why not list.isEmpty(), I'm not the author of this code)
        list = new ArrayList();

        if (transaction.getPartner() instanceof IAnotherSomething) {

            IAnotherSomething ias = (IAnotherSomething) transaction.getPartner();
            return ias.getContract().next();
        }

// NIMPORTANT code ommited, produces boolean "something"

        if (something) {
            // something happens
            list.add(contract)
        }

        if (!something) {
            // something else happens
            list.add(contract)
        }
    }

    return (IContract) list.get(0);
}

I have a brainpain - IF the list IS empty, (or == null) AND this if statement (transaction.getPartner() instanceof IAnotherSomething) is true, the method shoud exit on this if statement and should return ias.getContract().next() - or am I wrong about this?