Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 65

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 1
Chunk 65
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 June 30, 

        2025 

        2024 

        Change 

        Current 
        
       $
       427

       $
       343

       $
       (84
       )

        Deferred 

       483

       (50
       )

       (533
       )

        Total 
        
       $
       910

       $
       293

       $
       (617
        ) 

   The Big Beautiful Bill Act ("OBBBA") was enacted on  July 4, 2025.  The only provisions of the OBBBA that directly impact the Company are: (i) changes in bonus depreciation and (ii) changes in the calculation of the amount of net interest expense that is deductible.  In both cases, the impact to the Company will be immaterial.  The OBBBA made significant changes to individual income taxes including the taxation of overtime and tips that  may impact certain company's workforces thereby having an indirect effect on these companies.  However, none of the Company's employees receive tips and the Company has an immaterial number of hourly employees. 

       42

   18. NET CAPITAL REQUIREMENTS 
    
   Cohen Securities 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  June 30, 2025, Cohen Securities' minimum required net capital was $250, and actual net capital was $49,736, which exceeded the minimum requirements by $49,486.  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  June 30, 2025, the total minimum required net liquid capital was $729 and actual net liquid capital in CCFESA was $2,025, which exceeded the minimum requirement by $1,296. 

       43

   ﻿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 / (LOSS) PER COMMON