Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 71

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 71
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 had been converted at the beginning of the period.
(3) All potentially dilutive securities were included in the diluted per share calculations. 

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   20. COMMITMENTS AND CONTINGENCIES
    
   Legal and Regulatory Proceedings
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   From time to time, the Company is a party to various routine legal proceedings, claims, and regulatory inquiries arising out of the ordinary course of the Company’s business. Management believes that the results of these routine legal proceedings, claims, and regulatory matters will not have a material adverse effect on the Company’s financial condition, or on the Company’s operations and cash flows. However, the Company cannot estimate the legal fees and expenses to be incurred in connection with these routine matters and, therefore, is unable to determine whether these future legal fees and expenses will have a material impact on the Company’s operations and cash flows. It is the Company’s policy to expense legal and other fees as incurred.
    
   The SEC’s enforcement division has concluded the previously disclosed investigation into one of the Company's investment advisers, Cohen & Company Financial Management LLC ("CCFM").  The staff has informed us that they do not intend to recommend an enforcement action by the Commission against CCFM in connection with this investigation.

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   21. SEGMENT AND GEOGRAPHIC INFORMATION 
    
   The Company operates within three business segments: Capital Markets, Asset Management, and Principal Investing. See note 1.  The Company's chief executive officer is the chief operating decision-maker (“CODM”) and is responsible for allocating resources and assessing the performance of the business segments.  The CODM relies on enterprise net income / (loss) to allocate resources because it provides insight into profitability for the entire enterprise including the convertible non-controlling interest but excluding non-convertible non-controlling interest.  The CODM uses enterprise net income / (loss) in the annual budgeting and forecasting process.  The CODM considers budget to actual variances on a monthly basis when making allocation decisions.  
    
   The Company’s business segment information was prepared in a manner consistent with the internal reporting provided to the CODM and represents the information that is relied upon by management in its decision-making processes. Revenues and expenses directly associated with each business segment are included in determining net income / (loss) by segment.
    
   The Company presents principal transactions gains and losses that relate to financial instruments that the Company received through CCM's activities as part of