Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share, Basic and Diluted

The computation of earnings per share is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(dollars and share data in thousands, except per share data)
Net income (loss)	$	29,516	$	6,583	$	104,353	26,596
Net income (loss) attributable to non-controlling interests in consolidated subsidiaries and investment funds	9,232		2,770		(19,843)		7,188
Net income (loss) attributable to Cowen Inc.	20,284		3,813		124,196		19,408
Preferred stock dividends	1,698		1,698		5,094		5,094
Net income (loss) attributable to Cowen Inc. common stockholders	$	18,586	$	2,115	$	119,102	$	14,314
Shares for basic and diluted calculations:
Weighted average shares used in basic computation	27,663		29,529		28,078		29,687
Contingently issuable common stock in connection with an acquisition (see Note 3)	22		—		22		—
Restricted stock	2,285		1,735		1,546		1,694
Weighted average shares used in diluted computation	29,970		31,264		29,646		31,381
Earnings (loss) per share:
Basic	$	0.67	$	0.07	$	4.24	$	0.48
Diluted	$	0.62	$	0.07	$	4.02	$	0.46