Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 194

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 194
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 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.  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 9.

   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 9.
    
   Share forward liabilities
    
   Share forward liabilities are included as a component of other investments sold, not yet purchased in the Company's consolidated balance sheets.  The Company considers these derivatives as level 2 within the fair value hierarchy.  See note 9.

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   Investments in Certain Entities that Calculate NAV 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 FASB ASC 820 have been applied), which were measured at fair value on a recurring basis at  June 30, 2025 and  December 31, 2024.

       Fair Value June 30, 2025

        Unfunded Commitments 

        Redemption Frequency 

        Redemption Notice Period 

        Other investments, at fair value 

        CREO JV (a) 
        
       $
       6,623

       $
       9,893

       N/A

       N/A

        U.S. Insurance JV (b) 

       2,557

       N/A

       N/A

       N/A

       $
       9,180

   ﻿ 

        Fair Value December 31, 2024 

        Unfunded Commitments 

        Redemption