Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 170

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1C
Chunk 170
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 enters into a reverse repo, the Company obtains collateral in excess of the principal of the reverse repo.  The Company accepts collateral in the form of liquid securities or cash.  To the extent the Company receives cash collateral, the Company includes it as a component of other liabilities in the table above.  See note 11.

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   18. VARIABLE INTEREST ENTITIES 
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   As a general matter, a reporting entity must consolidate a VIE when it is deemed to be the primary beneficiary.  The primary beneficiary is the entity that has both (a) the power to direct the matters that most significantly impact the VIE’s financial performance and (b) a significant variable interest in the VIE. 
    
   Consolidated VIEs
    
   The Company determined it was the primary beneficiary of several VIEs and therefore has consolidated them.  The following table provides certain summary information regarding the consolidated VIEs.

       December 31, 2024    December 31, 2023  
 Cash and cash equivalents  $59  $27 
 Other receivables   19   - 
 Receivables from brokers, dealers, and clearing agencies   2,154   461 
 Other investments, at fair value   5,680   34,129 
 Investment in equity method affiliates   15,881   2,638 
 Accounts payable and other liabilities   (4)  - 
 Other investments sold, not yet purchased   (1,591)  (24,396)
 Non-controlling interest   (11,460)  (9,604)
 Investment in consolidated VIEs  $10,738  $3,255 

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   The maximum potential loss the Company could incur related to the consolidated VIEs is the investment in the consolidated VIEs shown in the table above. 
    
   The Company’s Principal Investing Portfolio 
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   Included in other investments, at fair value and investment in equity method affiliates in the consolidated balance sheets are unconsolidated investments in several VIEs.  In each case, the Company determined that it was not the primary beneficiary. The maximum potential financial statement loss the Company would incur if the VIEs were to default on all their obligations would be the loss of the carrying value of these investments as well as any future investments the