Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Investment banking	$ 101,542	$ 304,834
Brokerage	168,738	173,737
Securities principal transactions, net	91,252	63,965
Portfolio fund principal transactions, net	(6,098)	15,403
Carried interest allocations	(17,067)	96,769
Gross Investment Income, Operating	68,087	176,137
Management fees	16,769	25,742
Incentive income	633	2,258
Interest and dividends	46,335	59,388
Insurance and reinsurance premiums	11,321	7,117
Other revenues	(949)	1,660
Consolidated Funds
Principal transactions, net, Consolidated Funds	(1,886)	(3,349)
Interest and dividends	2	2
Total revenues	410,592	747,526
Interest and dividends expense	46,524	57,641
Total net revenues	364,068	689,885
Expenses
Employee compensation and benefits	187,178	388,196
Brokerage and trade execution costs	40,591	45,656
Underwriting expenses	259	6,915
Professional, advisory and other fees	13,682	15,460
Service fees	7,150	5,731
Communications	9,471	9,267
Occupancy and equipment	10,316	9,540
Depreciation and amortization	7,185	4,354
Client services and business development	6,569	6,848
Insurance and reinsurance claims, commissions and amortization of deferred acquisition costs	7,343	6,455
Other expenses	12,763	(3,340)
Consolidated Funds
Professional, advisory and other fees	42	110
Other expenses	63	161
Total expenses	302,612	495,353
Other income (loss)
Net gain (losses) on other investments	5,580	12,645
Bargain Purchase Gain, net of tax	0	3,855
Gain/(loss) on debt extinguishment	0	(4,538)
Total other income (loss)	5,580	11,962
Income (loss) before income taxes	67,036	206,494
Income tax expense (benefit)	11,889	54,428
Net income (loss)	55,147	152,066
Net income (loss) attributable to non-controlling interests in consolidated subsidiaries and investment funds	20,131	4,562
Net income (loss) attributable to Cowen Inc.	35,016	147,504
Preferred stock dividends	1,698	1,698
Net income (loss) attributable to Cowen Inc. common stockholders	$ 33,318	$ 145,806
Weighted average common shares outstanding:
Basic (in shares)	28,386	27,359
Diluted (in shares)	31,772	33,565
Earnings (loss) per share:
Earnings Per Share, Basic (in dollars per share)	$ 1.17	$ 5.33
Earnings Per Share, Diluted (in dollars per share)	$ 1.05	$ 4.34