Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 342

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 342
---

     1,452

      All other income 

     1,085

     400

     685

      Other income 

     3,642

     1,505

     2,137

      Total principal transactions and other income 
      
     $
     (29,242
     )
      
     $
     16,454

     $
     (45,696
     )

﻿ 

      46

Principal Transactions 

In the table above, our principal transactions are broken out into two groups:

1.  Capital Markets Principal Transactions: In some cases, CCM acquires financial instruments or receives financial instruments in lieu of cash for its advisory transactions. We carry these instruments at fair value with changes in fair value included as a component of principal transactions and other income in our consolidated income statement.  Gains and losses on these instruments are included in our Capital Markets segment as these instruments were acquired as part of CCM's activities.  See note 29 to our consolidated financial statements included in this Annual Report on Form 10-K.

2.  Principal Investing Principal Transactions: In other cases, we will acquire a financial instrument for the purposes of earning an investment return.  We also carry these instruments at fair value with changes in fair value included as a component of principal transactions and other income in our consolidated income statement.  However, gains and losses on these instruments are included in our Principal Investing segment as these investments were acquired to earn a return.  Note that a particular instrument may be included in both categories if it was acquired as part of CCM's activities and separately acquired to earn an investment return.  

Interests in Public Companies

These investments represent our direct and indirect investments in certain public companies. These investments may be in the form of unrestricted common stock, restricted common stock, equity derivatives, convertible notes and non-convertible notes receivable, as well as equity interest in SPVs that have investments in these public companies. The name and stock symbol of each public company in which we have a direct or indirect investment is listed in the table above.  The amounts shown represent the change in the fair value of our investment during each time period noted in the table.  Many of the interests in the public companies listed above were acquired as non-cash compensation related to new issue and advisory engagements.  When we received these investments, we recorded new issue and advisory revenue for the fair value of those instruments at that time.  

Other Principal