Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 814

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 14
Chunk 814
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 cases where the reporting entity is a broker-dealer and any control (either as the primary beneficiary of a VIE or through a controlling interest in a voting interest entity) was deemed to be temporary.  In the unlikely case that the Company obtained the power to direct activities and obtained a significant variable interest in an investee in its trading portfolio that was a VIE, any such control would be deemed to be temporary due to the rapid turnover of the Company’s trading portfolio. 
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   The following table presents the carrying amounts of the assets in the Company’s consolidated balance sheets related to the Company’s variable interests in identified VIEs with the exception of (i) the two trust VIEs that hold the Company’s junior subordinated notes (see note 20) and (ii) any security that represents an interest in a VIE that is included in investments-trading or securities sold, not yet purchased in the Company’s consolidated balance sheets. The table below shows the Company’s maximum exposure to loss associated with these identified nonconsolidated VIEs in which it holds variable interests at  December 31, 2024 and 2023.
    
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    CARRYING VALUE OF VARIABLE INTERESTS IN NON-CONSOLIDATED VARIABLE INTEREST ENTITIES 
 (Dollars in Thousands) 

       December 31, 2024    December 31, 2023  
 Other investments, at fair value  $10,822  $20,499 
 Investments in equity method affiliates   2,446   5,739 
 Maximum Exposure  $13,268  $26,238 

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   19.  REDEEMABLE FINANCIAL INSTRUMENTS 
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   Redeemable financial instruments consisted of the following.
    
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    REDEEMABLE FINANCIAL INSTRUMENTS 
 (Dollars in Thousands) 

       December 31, 2024    December 31, 2023  
 JKD Investor  $-  $7,868 
  $-  $7,868 

   JKD Investor
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   On  October 3, 2016, the Operating LLC entered into the JKD Investment Agreement by and between the Operating LLC and JKD Investor, pursuant to which JKD Investor