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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Assets    
Cash and cash equivalents $ 1,139,652 $ 914,343
Cash collateral pledged 122,687 47,494
Segregated Cash 185,872 194,701
Securities owned, at fair value ($1,766,033 and $1,764,853 were pledged to various parties) 2,424,194 2,660,742
Securities Purchased under Agreements to Resell 121,718 0
Receivable on derivative contracts, at fair value 494,691 286,135
Securities borrowed 1,298,056 1,704,603
Other investments ($132,285 and $137,986 at fair value, respectively) 225,183 274,111
Deposits with clearing organizations, brokers and banks 87,932 111,857
Receivable from brokers, dealers and clearing organizations, net of allowance of $62 and $636, respectively 1,864,825 1,614,347
Receivable from customers, net of allowance of $605 and $687, respectively 41,671 159,418
Fees receivable, net of allowance of $2,086 and $886, respectively 113,217 145,809
Insurance and reinsurance assets 133,786 30,073
Due from related parties 22,293 31,449
Fixed assets, net of accumulated depreciation and amortization of $52,816 and $50,017, respectively 23,407 25,976
Operating lease right-of-use assets 78,565 93,655
Goodwill 234,005 234,005
Intangible assets, net of accumulated amortization of $38,926 and $33,219, respectively 31,337 44,167
Deferred tax asset, net 50,810 21,765
Other assets, net of allowance of $1,583 and $0 respectively 84,963 54,755
Consolidated Funds    
Cash and cash equivalents, Consolidated Funds 30 296
Other Investments, Consolidated Funds 49,832 99,067
Other assets, Consolidated Funds 48 46
Total Assets 8,828,774 8,748,814
Liabilities    
Securities sold, not yet purchased, at fair value 913,574 1,201,448
Securities Sold under Agreements to Repurchase 133,130 63,469
Payable for derivative contracts, at fair value 69,665 60,163
Securities Loaned 1,199,838 1,586,572
Payables to brokers, dealers and clearing organizations 783,909 586,553
Payable to customers 2,663,414 2,432,612
Commission management payable 115,853 102,990
Insurance and reinsurance liabilities 317,547 71,269
Compensation payable 398,477 443,580
Operating lease liabilities 85,222 98,883
Notes payable and other debt 620,161 623,371
Fees payable 26,062 16,483
Accounts payable, accrued expenses and other liabilities 153,915 164,819
Consolidated Funds    
Due to related parties 0 23
Accounts payable, accrued expenses and other liabilities 162 225
Total Liabilities 7,480,929 7,452,460
Commitments and Contingencies
Stockholders' equity    
Additional paid-in capital 1,162,714 1,100,667
Retained earnings 515,395 461,982
Accumulated other comprehensive income (loss) 1 (2)
Treasury Stock, Value (614,300) (547,100)
Cowen Inc. Stockholders' Equity 1,064,172 1,015,869
Nonredeemable non-controlling interests 162,923 159,735
Total Permanent Equity 1,227,095 1,175,604
Total Liabilities, Redeemable Preferred Stock and Permanent Equity 8,828,774 8,748,814
Convertible Preferred Stock    
Consolidated Funds    
Redeemable Series A Convertible Preferred stock, par value $0.01 per share: 10,000,000 shares authorized, 120,750 shares issued and outstanding as of December 31, 2022 (aggregate liquidation preference of $120,750) and 10,000,000 shares authorized, 120,750 shares issued and outstanding as of December 31, 2021 (aggregate liquidation preference of $120,750) 120,750 120,750
Common Stock Class A    
Stockholders' equity    
Common stock 334 334
Treasury Stock, Value (614,272) (547,112)
Common Stock Class B    
Stockholders' equity    
Common stock $ 0 $ 0