Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2591

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 2591
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 regular time period, the Company will account for that purchase and sale on the settlement date rather than the trade date.  In those cases, the Company accounts for the transaction between trade date and settlement date as either a forward purchase commitment or a forward sale commitment, both considered derivatives.  The Company will record an unrealized gain or unrealized loss on the derivative for the difference between the fair value of the underlying financial instrument as of the reporting date and the agreed upon transaction price.  As of  December 31, 2024, the Company had open forward purchase commitments in the notional amount of $1,593 and open forward sales commitments in the notional amount of $0.  At  December 31, 2023, the Company had no open forward purchase or sale commitments. 
    
   Foreign Currency Forward Contracts 
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   The Company invests in foreign currency denominated investments that expose it to fluctuations in foreign currency rates, and, therefore, the Company  may, from time to time, hedge such exposure by using foreign currency forward contracts.  The Company carries the foreign currency forward contracts at fair value and includes them as a component of other investments, at fair value in the Company’s consolidated balance sheets.  As of  December 31, 2024 and 2023, the Company had no outstanding foreign currency forward contracts. 
    
   ﻿The following table presents the Company’s derivative financial instruments and the amount and location of the fair value (unrealized gain / (loss)) presented in the consolidated balance sheets as of  December 31, 2024 and 2023. 
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      DERIVATIVE FINANCIAL INSTRUMENTS-BALANCE SHEET INFORMATION 
 (Dollars in Thousands) 

     Derivative Financial Instruments Not Designated as Hedging Instruments Under ASC 815   Balance Sheet Classification   December 31, 2024    December 31, 2023  
 TBAs and other forward agency MBS   Investments-trading  $4,836  $7,470 
 TBAs and other forward agency MBS   Trading securities sold, not yet purchased   (4,050)  (6,719)
 Equity derivatives   Other investments, at fair value   73   1,447 
 Share forward liabilities   Other investments sold, not yet purchased, at fair value   (470)