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Segment And Geographic Information | 9 Months Ended
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Sep. 30, 2018
Segment And Geographic Information [Abstract] |
Segment And Geographic Information | 20. SEGMENT AND GEOGRAPHIC INFORMATION Segment Information The Company operates within three business segments: Capital Markets, Asset Management, and Principal Investing. See note 1. The Company’s business segment information was prepared using the following methodologies and generally represents the information that is relied upon by management in its decision making processes: (a) Revenues and expenses directly associated with each business segment are included in determining net income / (loss) by segment, and (b) Indirect expenses (such as general and administrative expenses including executive and indirect overhead costs) not directly associated with specific business segments are not allocated to the business segments’ statements of operations. Accordingly, the Company presents segment information consistent with internal management reporting. See note (1) in the table below for more detail on unallocated items. The following tables present the financial information for the Company’s segments for the periods indicated. ﻿
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﻿SEGMENT INFORMATION
﻿Statement of Operations Information
﻿Nine Months Ended September 30, 2018
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﻿ |  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
﻿ |  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
﻿Net trading |  | $ | 20,193 |  | $ | - |  | $ | - |  | $ | 20,193 |  | $ | - |  | $ | 20,193
﻿Asset management |  |  | - |  |  | 7,827 |  |  | - |  |  | 7,827 |  |  | - |  |  | 7,827
﻿New issue and advisory |  |  | 873 |  |  | - |  |  | - |  |  | 873 |  |  | - |  |  | 873
﻿Principal transactions and other income |  |  | 33 |  |  | 538 |  |  | 4,301 |  |  | 4,872 |  |  | - |  |  | 4,872
﻿ Total revenues |  |  | 21,099 |  |  | 8,365 |  |  | 4,301 |  |  | 33,765 |  |  | - |  |  | 33,765
﻿ Total operating expenses |  |  | 21,171 |  |  | 5,437 |  |  | 612 |  |  | 27,220 |  |  | 5,174 |  |  | 32,394
﻿ Operating income (loss) |  |  | (72) |  |  | 2,928 |  |  | 3,689 |  |  | 6,545 |  |  | (5,174) |  |  | 1,371
﻿Interest expense |  |  | (170) |  |  | (33) |  |  | - |  |  | (203) |  |  | (6,002) |  |  | (6,205)
﻿ Income (loss) before income taxes |  |  | (242) |  |  | 2,895 |  |  | 3,689 |  |  | 6,342 |  |  | (11,176) |  |  | (4,834)
﻿Income tax expense (benefit) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,259) |  |  | (1,259)
﻿Net income (loss) |  |  | (242) |  |  | 2,895 |  |  | 3,689 |  |  | 6,342 |  |  | (9,917) |  |  | (3,575)
﻿Less: Net income (loss) attributable to the non-controlling interest |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,530) |  |  | (1,530)
﻿Net income (loss) attributable to Cohen & Company Inc. |  | $ | (242) |  | $ | 2,895 |  | $ | 3,689 |  | $ | 6,342 |  | $ | (8,387) |  | $ | (2,045)
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﻿Other statement of operations data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization (included in total operating expense) |  | $ | 39 |  | $ | 3 |  | $ | - |  | $ | 42 |  | $ | 134 |  | $ | 176
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﻿SEGMENT INFORMATION
﻿Statement of Operations Information
﻿Nine Months Ended September 30, 2017
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﻿ |  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
﻿ |  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
﻿Net trading |  | $ | 20,158 |  | $ | - |  | $ | - |  | $ | 20,158 |  | $ | - |  | $ | 20,158
﻿Asset management |  |  | - |  |  | 6,202 |  |  | - |  |  | 6,202 |  |  | - |  |  | 6,202
﻿New issue and advisory |  |  | 3,992 |  |  | - |  |  | - |  |  | 3,992 |  |  | - |  |  | 3,992
﻿Principal transactions and other income |  |  | 4 |  |  | 4,995 |  |  | 516 |  |  | 5,515 |  |  | - |  |  | 5,515
﻿ Total revenues |  |  | 24,154 |  |  | 11,197 |  |  | 516 |  |  | 35,867 |  |  | - |  |  | 35,867
﻿ Total operating expenses |  |  | 20,576 |  |  | 3,521 |  |  | 286 |  |  | 24,383 |  |  | 6,181 |  |  | 30,564
﻿ Operating income (loss) |  |  | 3,578 |  |  | 7,676 |  |  | 230 |  |  | 11,484 |  |  | (6,181) |  |  | 5,303
﻿Interest expense |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (4,330) |  |  | (4,330)
﻿ Income (loss) before income taxes |  |  | 3,578 |  |  | 7,676 |  |  | 230 |  |  | 11,484 |  |  | (10,511) |  |  | 973
﻿Income tax expense (benefit) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 148 |  |  | 148
﻿Net income (loss) |  |  | 3,578 |  |  | 7,676 |  |  | 230 |  |  | 11,484 |  |  | (10,659) |  |  | 825
﻿Less: Net income (loss) attributable to the non-controlling interest |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 274 |  |  | 274
﻿Net income (loss) attributable to Cohen & Company Inc. |  | $ | 3,578 |  | $ | 7,676 |  | $ | 230 |  | $ | 11,484 |  | $ | (10,933) |  | $ | 551
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﻿Other statement of operations data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization (included in total operating expense) |  | $ | 51 |  | $ | 3 |  | $ | - |  | $ | 54 |  | $ | 133 |  | $ | 187
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﻿SEGMENT INFORMATION
﻿Statement of Operations Information
﻿Three Months Ended September 30, 2018
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﻿ |  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
﻿ |  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
﻿Net trading |  | $ | 6,816 |  | $ | - |  | $ | - |  | $ | 6,816 |  | $ | - |  | $ | 6,816
﻿Asset management |  |  | - |  |  | 2,818 |  |  | - |  |  | 2,818 |  |  | - |  |  | 2,818
﻿New issue and advisory |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
﻿Principal transactions and other income |  |  | 17 |  |  | 152 |  |  | 2,434 |  |  | 2,603 |  |  | - |  |  | 2,603
﻿ Total revenues |  |  | 6,833 |  |  | 2,970 |  |  | 2,434 |  |  | 12,237 |  |  | - |  |  | 12,237
﻿ Total operating expenses |  |  | 7,543 |  |  | 2,017 |  |  | 420 |  |  | 9,980 |  |  | 1,901 |  |  | 11,881
﻿ Operating income (loss) |  |  | (710) |  |  | 953 |  |  | 2,014 |  |  | 2,257 |  |  | (1,901) |  |  | 356
﻿Interest expense |  |  | (99) |  |  | (33) |  |  | - |  |  | (132) |  |  | (2,053) |  |  | (2,185)
﻿ Income (loss) before income taxes |  |  | (809) |  |  | 920 |  |  | 2,014 |  |  | 2,125 |  |  | (3,954) |  |  | (1,829)
﻿Income tax expense (benefit) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (595) |  |  | (595)
﻿Net income (loss) |  |  | (809) |  |  | 920 |  |  | 2,014 |  |  | 2,125 |  |  | (3,359) |  |  | (1,234)
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﻿Less: Net income (loss) attributable to the non-controlling interest |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (583) |  |  | (583)
﻿Net income (loss) attributable to Cohen & Company Inc. |  | $ | (809) |  | $ | 920 |  | $ | 2,014 |  | $ | 2,125 |  | $ | (2,776) |  | $ | (651)
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﻿Other statement of operations data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ Depreciation and amortization (included in total operating expense) |  | $ | 9 |  | $ | 1 |  | $ | - |  | $ | 10 |  | $ | 53 |  | $ | 63
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﻿SEGMENT INFORMATION
﻿Statement of Operations Information
﻿Three Months Ended September 30, 2017
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﻿ |  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
﻿ |  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
﻿Net trading |  | $ | 5,988 |  | $ | - |  | $ | - |  | $ | 5,988 |  | $ | - |  | $ | 5,988
﻿Asset management |  |  | - |  |  | 1,779 |  |  | - |  |  | 1,779 |  |  | - |  |  | 1,779
﻿New issue and advisory |  |  | 2,012 |  |  | - |  |  | - |  |  | 2,012 |  |  | - |  |  | 2,012
﻿Principal transactions and other income |  |  | (2) |  |  | 230 |  |  | (6) |  |  | 222 |  |  | - |  |  | 222
﻿ Total revenues |  |  | 7,998 |  |  | 2,009 |  |  | (6) |  |  | 10,001 |  |  | - |  |  | 10,001
﻿ Total operating expenses |  |  | 6,053 |  |  | 1,042 |  |  | 95 |  |  | 7,190 |  |  | 1,822 |  |  | 9,012
﻿ Operating income (loss) |  |  | 1,945 |  |  | 967 |  |  | (101) |  |  | 2,811 |  |  | (1,822) |  |  | 989
﻿Interest expense |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,606) |  |  | (1,606)
﻿ Income (loss) before income taxes |  |  | 1,945 |  |  | 967 |  |  | (101) |  |  | 2,811 |  |  | (3,428) |  |  | (617)
﻿Income tax expense (benefit) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 141 |  |  | 141
﻿Net income (loss) |  |  | 1,945 |  |  | 967 |  |  | (101) |  |  | 2,811 |  |  | (3,569) |  |  | (758)
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﻿Less: Net income (loss) attributable to the non-controlling interest |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (211) |  |  | (211)
﻿Net income (loss) attributable to Cohen & Company Inc. |  | $ | 1,945 |  | $ | 967 |  | $ | (101) |  | $ | 2,811 |  | $ | (3,358) |  | $ | (547)
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﻿Other statement of operations data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ Depreciation and amortization (included in total operating expense) |  | $ | 16 |  | $ | 1 |  | $ | - |  | $ | 17 |  | $ | 43 |  | $ | 60
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| (1) |  | Unallocated includes certain expenses incurred by indirect overhead and support departments (such as the executive, finance, legal, information technology, human resources, risk, compliance, and other similar overhead and support departments). Some of the items not allocated include: (1) operating expenses (such as cash compensation and benefits, equity-based compensation expense, professional fees, travel and entertainment, consulting fees, and rent) related to support departments excluding certain departments that directly support the Capital Markets business segment; (2) interest expense on debt; and (3) income taxes. Management does not consider these items necessary for an understanding of the operating results of these business segments and such amounts are excluded in business segment reporting to the chief operating decision maker.
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﻿BALANCE SHEET DATA
﻿As of September 30, 2018
﻿(Dollars in Thousands)
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﻿ |  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
﻿ |  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
﻿Total Assets |  | $ | 4,782,543 |  | $ | 3,153 |  | $ | 30,063 |  | $ | 4,815,759 |  | $ | 4,533 |  | $ | 4,820,292
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﻿Included within total assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ Goodwill (2) |  | $ | 7,937 |  | $ | 55 |  | $ | - |  | $ | 7,992 |  | $ | - |  | $ | 7,992
﻿ Intangible assets (2) |  | $ | 166 |  | $ | - |  | $ | - |  | $ | 166 |  | $ | - |  | $ | 166
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﻿BALANCE SHEET DATA
﻿December 31, 2017
﻿(Dollars in Thousands)
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﻿ |  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
﻿ |  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
﻿Total Assets |  | $ | 2,014,061 |  | $ | 3,155 |  | $ | 12,867 |  | $ | 2,030,083 |  | $ | 6,175 |  | $ | 2,036,258
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﻿Included within total assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ Goodwill (2) |  | $ | 7,937 |  | $ | 55 |  | $ | - |  | $ | 7,992 |  | $ | - |  | $ | 7,992
﻿ Intangible assets (2) |  | $ | 166 |  | $ | - |  | $ | - |  | $ | 166 |  | $ | - |  | $ | 166
﻿ (1)Unallocated assets primarily include: (1) amounts due from related parties; (2) furniture and equipment, net; and (3) other assets that are not considered necessary for an understanding of business segment assets. Such amounts are excluded in business segment reporting to the chief operating decision maker. (2)Goodwill and intangible assets are allocated to the Capital Markets and Asset Management business segments as indicated in the table above. ﻿ ﻿ Geographic Information The Company conducts its business activities through offices in the following locations: (1) United States and (2) United Kingdom and Other. Total revenues by geographic area are summarized as follows. ﻿
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﻿GEOGRAPHIC DATA
﻿(Dollars in Thousands)
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﻿ | Three Months Ended September 30, |  | Nine Months Ended September 30,
﻿ | 2018 |  | 2017 |  | 2018 |  | 2017
﻿Total Revenues: |  |  |  |  |  |  |  |  |  |  |
﻿United States | $ | 10,406 |  | $ | 7,604 |  | $ | 28,461 |  | $ | 29,499
﻿United Kingdom & Other |  | 1,831 |  |  | 2,397 |  |  | 5,304 |  |  | 6,368
﻿ Total | $ | 12,237 |  | $ | 10,001 |  | $ | 33,765 |  | $ | 35,867
﻿ Long-lived assets attributable to an individual country, other than the United States, are not material.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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