Company: COHN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001437749-25-014235
Chunk: 185

Company: Cohen & Co Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 185
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, which are included in the effective tax rate.
    
   4. The Company also has valuation allowances applied against its carryforward NOL and NCL deferred tax assets as well as its tax over book basis in the Operating LLC.  Valuation allowances are applied to deferred tax assets when management determines that the assets  may not be fully realized.  This determination requires significant judgement and is primarily based on management's expectations regarding the generation of future taxable income.  ASC 740 indicates that all available evidence should be considered when assessing the need for and the appropriate level of a valuation allowance.  All available evidence includes historical information supplemented by all currently available information about future periods.
    
   The following table presents the components on the Company's consolidated provision for income tax for the periods presented.

       For the Three Months Ended March 31,  
   2025    2024    Change  
 Current  $54  $557  $503 
 Deferred   85   (59)  (144)
 Total  $139  $498  $359   

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   18. NET CAPITAL REQUIREMENTS 
    
   JVB is subject to the net capital provision of Rule 15c3-1 under the Exchange Act, which requires the maintenance of minimum net capital, as defined therein.  As of  March 31, 2025, JVB's minimum required net capital was $250, and actual net capital was $45,775, which exceeded the minimum requirements by $45,525.  CCFESA, a subsidiary of the Company, is regulated by the ACPR in France. CCFESA is subject to certain regulatory capital requirements in accordance with Articles L.533-2 et seq. of the French Financial and Monetary Code, implementing the new framework set out in the Investment Firm Regulation ("IFR") and the Investment Firm Directive ("IFD").  As of  March 31, 2025, the total minimum required net liquid capital was $670 and actual net liquid capital in CCFESA was $1,863, which exceeded the minimum requirement by $1,193. 

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   ﻿19. EARNINGS / (LOSS) PER COMMON SHARE
    
   The following table presents a reconciliation of basic and diluted earnings / (loss) per common share for the periods indicated.
    
   EARNINGS / (