Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1156

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 1156
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   Each reporting period, management determines the expected amount of taxable income it will generate in each jurisdiction where the Company has NOLs.  Management then schedules this income against each carryforward asset and determines what portion of the asset it believes is more likely than not to be realized.  This determination is subjective and subject to many assumptions and factors including:  profitability of the Company's business in the future, the timing of that future income as compared to carryforward asset expiration, the character of future income (ordinary or capital), and the jurisdiction the income will be generated in.  To the extent management's determination changes, an adjustment will be made to the valuation allowance resulting in deferred tax expense or benefit.  The Company recorded deferred tax expense in 2023 and 2024 because expectations of future income decreased and the Company increased the valuation allowance it had applied against carryforward assets.  Because of the magnitude of the Company's carryforward assets as well as the volatility of the Company's operating results, significant adjustments to the valuation allowance are likely going forward.  These future adjustments will likewise result in material amounts of deferred tax benefit or expense going forward.  
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   The Company files tax returns in the U.S. federal jurisdiction, various states or local jurisdictions, and France. With few exceptions, the Company is no longer subject to examination for years prior to 2018.  
    
   The Company applies ASC 740-10 in determining uncertain tax positions. The Company has evaluated its tax positions under this criteria and has determined that as of  December 31, 2024 and 2023 it has not taken any material uncertain tax positions that would require adjustment to the financial statements.
   ﻿ 

        F-
       65

   24. ACCUMULATED OTHER COMPREHENSIVE INCOME / (LOSS) ("AOCI")
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   The following table shows the components of other comprehensive income / (loss) and the tax effects allocated to other comprehensive income / (loss).  AOCI consists solely of foreign currency items. 
    
    ACCUMULATED OTHER COMPREHENSIVE INCOME / (LOSS) AND INCOME TAX EFFECT OF ITEMS ALLOCATED TO OTHER COMPREHENSIVE INCOME / (LOSS) 
 (Dollars in Thousands) 

       OCI Items    Tax Effect    Total  
 December 31, 2021  $(905) $-  $(905