Cowen Inc. (COWN) financial statements (2020 and earlier)

Company profile

Business Address 599 LEXINGTON AVENUE, 20TH FLOOR
NEW YORK, NY 10022
State of Incorp. DE
Fiscal Year End December 31
SIC 6211 - Security Brokers, Dealers, and Flotation Companies (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments30125980381376992255
Cash and cash equivalents30125913011215813055
Short-term investments  673701610792 
Receivables241918 38  
Prepaid expense87133  
Deferred rent asset   0011
Total current assets:33428682381681092256
Noncurrent Assets
Operating lease, right-of-use asset93
Property, plant and equipment34264042272627
Long-term investments and receivables414041    
Long-term investments414041    
Intangible assets, net (including goodwill)173869186844349
Goodwill138616161583537
Intangible assets, net (excluding goodwill)3525302626812
Total noncurrent assets:3401521721291117076
Other undisclosed assets4,4882,9082,3011,0738711,4141,710
TOTAL ASSETS:5,1623,3463,2962,0191,7922,4061,842
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6270143
Accounts payable3      
Taxes payable3270143
Debt23      
Securities loaned1,602415457  682919
Total current liabilities:1,63141746401686921
Noncurrent Liabilities
Other undisclosed liabilities2,2361,8511,643866814956327
Total liabilities:3,8672,2672,1088678161,6421,248
Temporary equity, carrying amount 285441379187  
Stockholders' equity
Stockholders' equity attributable to parent, including:810794748773790678508
Treasury stock, value(284)(234)(187)(154)(137)(80)(48)
Additional paid in capital1,1111,0631,005929903772737
Accumulated other comprehensive income (loss)(0)(0)(0)(0) 01
Retained earnings (accumulated deficit)(17)(35)(70)(2)24(16)(183)
Other undisclosed stockholders' equity attributable to parent0000111
Stockholders' equity attributable to noncontrolling interest94      
Total stockholders' equity:904794748773790678508
Other undisclosed liabilities and equity391    8686
TOTAL LIABILITIES AND EQUITY:5,1623,3463,2962,0191,7922,4061,842

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1,049967659472465428327
Investment banking revenue375357224133223171105
Brokerage commissions revenue403414
Financial services revenue332248201140115
Cost of revenue(627)(596)(131)(83)(44)(40)(143)
Gross profit:422371528388420387184
Operating expenses(322)(291)(627)(464)(460)(450)(218)
Other operating income (expense), net(23)(22)(18)(15)(16)(6)18
Noninterest income, other operating income     95
Other expenses(23)(22)(18)(15)(16)(15)13
Operating income (loss):7757(117)(90)(55)(68)(16)
Nonoperating income139124106445112052
Investment income, nonoperating79779637391070
Interest and debt expense(0)(1)(16) (0)(0)(0)
Income (loss) from continuing operations before equity method investments, income taxes:216180(27)(46)(4)5236
Other undisclosed income (loss) from continuing operations before income taxes(145)(82)3415166(18)
Income (loss) from continuing operations before income taxes:71997(31)115818
Income tax expense (benefit)(15)(16)(44)1947125(0)
Net income (loss):5683(37)(12)5918318
Net income (loss) attributable to noncontrolling interest(31)40(24)(7)(15)(16)(13)
Other undisclosed net loss attributable to parent (81)     
Net income (loss) attributable to parent:2543(61)(19)441675
Preferred stock dividends and other adjustments(7)(7)(7)(7)(4)  
Net income (loss) available to common stockholders, diluted:1836(68)(26)401675

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):5683(37)(12)5918318
Other comprehensive income (loss) 0(0)(0)(0)(1)0
Comprehensive income (loss):5683(37)(12)5918218
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(31)40(24)(7)(15)(16) 
Comprehensive income (loss), net of tax, attributable to parent:25124(61)(19)4416718

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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