Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 636

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 13
Chunk 636
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 the agreed upon transaction price.  The Company will determine the fair value of the financial instrument using the methodologies described above.
    
   Equity Derivatives
    
   The Company  may enter into equity derivatives, which include listed options as well as other derivative transactions with an underlying equity instrument.  Listed options are traded on a recognized liquid exchange and the Company classifies the fair value of these securities within level 1 of the valuation hierarchy.  Other equity derivatives (where the underlying equity instrument is publicly traded but the derivative itself is not) are classified within level 2 of the valuation hierarchy.  See note 10.
    
   Foreign Currency Forward Contracts 
    
   Foreign currency forward contracts are exchange-traded derivatives, which transact on an exchange that is deemed to be active.  The fair value of the foreign currency forward contracts is based on current quoted market prices.  Valuation adjustments are not applied.  These are classified within level 1 of the valuation hierarchy. See note 10.
    
   Share Forward Liabilities
    
   Share forward liabilities are included as a component of other investments sold, not yet purchased in the Company's balance sheets.  The Company utilizes a model to value these instruments with observable inputs and considers these derivatives as level 2 within the fair value hierarchy.  See note 10.

        F-
       31

   Investments in Certain Entities that Calculate Net Asset Value Per Share (or its Equivalent) 
   ﻿ 
   The following table presents additional information about investments in certain entities that calculate NAV per share (regardless of whether the “practical expedient” provisions of ASC 820 have been applied), which are measured at fair value on a recurring basis as of  December 31, 2024 and 2023.
     
    FAIR VALUE MEASUREMENTS OF INVESTMENTS IN CERTAIN ENTITIES 
 THAT CALCULATE NET ASSET VALUE PER SHARE (OR ITS EQUIVALENT) 
 (Dollars in Thousands) 

       December 31, 2024    Unfunded Commitments    Redemption Frequency    Redemption Notice Period  
 Other investments, at fair value                 
 CREO JV (a)  $6,432  $10,118    N/A     N/A  
 U.S. Insurance JV (b)   2,825   N/A    N/A     N/A  
  $9,257