| Earnings Per Share [Text Block] |
19. EARNINGS / (LOSS) PER COMMON SHARE
The following table presents a reconciliation of basic and diluted earnings / (loss) per common share for the periods indicated.
EARNINGS / (LOSS) PER COMMON SHARE
(Dollars in Thousands, except share or per share information)
| | | Three Months Ended March 31, | |
| | | 2025 | | | 2024 | |
| Net income / (loss) attributable to Cohen & Company Inc. | | $ | 329 | | | $ | 2,023 | |
| Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. (1) | | | 782 | | | | 5,213 | |
| Add / (deduct): Adjustment (2) | | | 2 | | | | (31 | ) |
| Net income / (loss) on a fully converted basis | | $ | 1,113 | | | $ | 7,205 | |
| | | | | | | | | |
| Weighted average common shares outstanding - Basic | | | 1,704,510 | | | | 1,581,390 | |
| Unrestricted LLC Units exchangeable into Cohen & Company Inc. shares (1) | | | 4,061,322 | | | | 4,051,423 | |
| Restricted units or shares | | | 42,462 | | | | 12,273 | |
| Weighted average common shares outstanding - Diluted (3) | | | 5,808,294 | | | | 5,645,086 | |
| | | | | | | | | |
| Net income / (loss) per common share - Basic | | $ | 0.19 | | | $ | 1.28 | |
| | | | | | | | | |
| Net income / (loss) per common share - Diluted | | $ | 0.19 | | | $ | 1.28 | |
| (1) | The units of membership interests in the Operating LLC (“LLC Units”) not held by Cohen & Company Inc. (that is, those held by the non-controlling interest) may be redeemed and exchanged into shares of the Company on a ten-for-one basis. The LLC 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 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 Common Stock, subject, in each case, to appropriate adjustment upon the occurrence of an issuance of additional shares of the Common Stock as a dividend or other distribution on the outstanding Common Stock, or a further subdivision or combination of the outstanding shares of the Common Stock. These LLC Units are not included in the computation of basic earnings per share. These LLC 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 because the Company would have incurred a higher income tax expense or realized a higher income tax benefit, as applicable, if the LLC Units had been converted at the beginning of the period. |
| (3) | All potentially dilutive securities were included in the diluted per share calculations. |
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