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Earnings / (Loss) Per Common Share | 9 Months Ended
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Sep. 30, 2018
Earnings / (Loss) Per Common Share [Abstract] |
Earnings / (Loss) Per Common Share | 18. EAR NINGS / (Loss) PER COMMON SHARE ﻿ The following table presents a reconciliation of basic and diluted earnings / (loss) per common share for the periods indicated. ﻿ ﻿ ﻿
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﻿EARNINGS / (LOSS) PER COMMON SHARE
﻿(Dollars in Thousands, except share or per share information)
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﻿ | Three Months Ended September 30, |  | Nine Months Ended September 30,
﻿ | 2018 |  | 2017 |  | 2018 |  | 2017
﻿Net income / (loss) attributable to Cohen & Company Inc. | $ | (651) |  | $ | (547) |  | $ | (2,045) |  | $ | 551
﻿Add/ (deduct): Income / (loss) attributable to non-controlling interest attributable to Operating LLC membership (1) |  | (583) |  |  | (211) |  |  | (1,530) |  |  | 274
﻿ Add / (deduct): Adjustment (2) |  | 283 |  |  | (30) |  |  | 596 |  |  | (29)
﻿Net income / (loss) on a fully converted basis | $ | (951) |  | $ | (788) |  | $ | (2,979) |  | $ | 796
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﻿Weighted average common shares outstanding - Basic |  | 1,145,323 |  |  | 1,212,826 |  |  | 1,163,572 |  |  | 1,209,585
﻿Unrestricted Operating LLC membership units exchangeable into Cohen & Company shares (1) |  | 532,409 |  |  | 532,409 |  |  | 532,409 |  |  | 532,409
﻿Restricted units or shares |  | - |  |  | - |  |  | - |  |  | 13,938
﻿Weighted average common shares outstanding - Diluted (3) |  | 1,677,732 |  |  | 1,745,235 |  |  | 1,695,981 |  |  | 1,755,932
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﻿Net income / (loss) per common share - Basic | $ | (0.57) |  | $ | (0.45) |  | $ | (1.76) |  | $ | 0.46
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﻿Net income / (loss) per common share - Diluted | $ | (0.57) |  | $ | (0.45) |  | $ | (1.76) |  | $ | 0.45
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| (1) |  | The Operating LLC membership units not held by Cohen & Company Inc. (that is, those held by the non-controlling interest for the nine months ended September 30, 2018 and 2017) may be redeemed and exchanged into shares of the Company on a ten-for-one basis. The Operating LLC membership units not held by Cohen & Company Inc. are redeemable, at the member’s option at any time, for (i) cash in an amount equal to the average of the per share closing prices of the Company’s Common Stock for the ten consecutive trading days immediately preceding the date the Company receives the member’s redemption notice, or (ii) at the Company’s option, one tenth of a share of the Company’s Common Stock, subject, in each case, to appropriate adjustment upon the occurrence of an issuance of additional shares of the Company’s Common Stock as a dividend or other distribution on the Company’s outstanding Common Stock, or a further subdivision or combination of the outstanding shares of the Company’s Common Stock. These units are not included in the computation of basic earnings per share. These units enter into the computation of diluted net income (loss) per common share when the effect is not anti-dilutive using the if-converted method.
| (2) |  | An adjustment is included for the following reason: if the Operating LLC membership units had been converted at the beginning of the period, the Company would have incurred a higher income tax expense or realized a higher income tax benefit, as applicable.
| (3) |  | For the three months ended September 30, 2018 weighted average common shares outstanding excludes (i) 26,168 shares representing restricted Common Stock (ii) 293,865 shares from the assumed conversion of the 2013 Convertible Notes, and (iii) 1,034,483 shares from the assumed conversion of the 2017 Convertible Note because the inclusion of such shares would be anti-dilutive. For the nine months ended September 30, 2018, weighted average common shares outstanding excludes (i) 22,400 shares representing restricted Common Stock (ii) 281,233 shares from the assumed conversion of the 2013 Convertible Notes, and (iii) 1,034,483 shares from the assumed conversion of the 2017 Convertible Note because the inclusion of such shares would be anti-dilutive.
For the three months ended September 30, 2017, weighted average common shares outstanding excludes (i) 14,059 shares representing restricted Operating LLC membership units, restricted Common Stock, and restricted units of Common Stock (ii) 274,917 shares from the assumed conversion of the 2013 Convertible Notes and (iii) 1,034,483 shares from the assumed conversion of the 2017 Note because the inclusion of these shares would be anti-dilutive. For the nine months ended September 30, 2017, weighted average common shares outstanding excluded (i) 274,917 from the assumed conversion of the 2013 Convertible Notes and (ii)773,947 shares from the assumed conversion of the 2017 Convertible Note because the inclusion of such shares would be anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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