Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Finite-lived Intangible Assets Amortization Expense [Table Text Block]

The estimated amortization expense related to these intangible assets in future periods is as follows:

	(dollars in thousands)
2020	$	8,908
2021	2,608
2022	1,775
2023	—
2024	—
Thereafter	—
	$	13,291

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The table below summarizes the purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as of January 2, 2019:

	(dollars in thousands)
Cash and cash equivalents	$	12,236
Fees receivable	7,269
Fixed assets	1,085
Operating lease right-of-use assets	3,200
Intangible assets	22,200
Other assets	667
Compensation payable	(637)
Operating lease liabilities	(3,200)
Due to related parties	(4,750)
Accounts payable, accrued expenses and other liabilities	(16,257)
Total identifiable net assets acquired and liabilities assumed	21,813
Goodwill	81,150
Total estimated purchase price	$	102,963

The allocation of the intangible assets is shown within the following table:

	Estimated intangible assets acquired		Estimated average remaining useful lives
	(dollars in thousands)		(in years)
Intangible asset class
Trade name	$	900	3
Customer relationships	7,100		4
Backlog	12,600		2
Proprietary software	1,600		3
Total intangible assets	$	22,200

Business Acquisition, Pro Forma Information

	Year Ended December 31, 2018
	(dollars in thousands, except per share data)
Net revenues	$	922,001
Net income (loss) attributable to Cowen Inc. common stockholders	35,616
Net income (loss) per common share:
Basic	$	1.20
Diluted	1.15