Cowen Inc. (COWN) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments914 301259803813
Cash and cash equivalents914 301259130112
Short-term investments    673701
Receivables(2) 241918 
Prepaid expense7 8713
Deferred rent asset     0
Total current assets:920 334286823816
Noncurrent Assets
Operating lease, right-of-use asset94 93
Property, plant and equipment26 34264042
Long-term investments and receivables47 414041 
Long-term investments47 414041 
Intangible assets, net (including goodwill)278 173869186
Goodwill234 138616161
Intangible assets, net (excluding goodwill)44 35253026
Deferred income tax assets22  
Total noncurrent assets:467 340152172129
Other undisclosed assets7,362 4,4882,9082,3011,073
TOTAL ASSETS:8,749 5,1623,3463,2962,019
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities23 6270
Accounts payable6 3   
Taxes payable17 3270
Debt63 23   
Securities loaned1,587 1,602415457 
Total current liabilities:1,673 1,6314174640
Noncurrent Liabilities
Other undisclosed liabilities5,780 2,2361,8511,643866
Total liabilities:7,452 3,8672,2672,108867
Temporary equity, carrying amount   285441379
Stockholders' equity
Stockholders' equity attributable to parent, including:1,016 810794748773
Treasury stock, value(547) (284)(234)(187)(154)
Additional paid in capital1,101 1,1111,0631,005929
Accumulated other comprehensive loss(0) (0)(0)(0)(0)
Retained earnings (accumulated deficit)462 (17)(35)(70)(2)
Other undisclosed stockholders' equity attributable to parent0 0000
Stockholders' equity attributable to noncontrolling interest160 94   
Total stockholders' equity:1,176 904794748773
Other undisclosed liabilities and equity121 391   
TOTAL LIABILITIES AND EQUITY:8,749 5,1623,3463,2962,019

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues2,113 1,049967659472
Investment banking revenue1,067 375357224133
Brokerage commissions revenue585 403414
Financial services revenue332248
Cost of revenue(1,143) (627)(596)(131)(83)
Gross profit:970 422371528388
Operating expenses(387) (322)(291)(627)(464)
Other operating expense, net
(Other Expenses)
(37) (23)(22)(18)(15)
Operating income (loss):546 7757(117)(90)
Nonoperating income35 13912410644
Investment income, nonoperating35 79779637
Interest and debt expense(0) (0)(1)(16) 
Income (loss) from continuing operations before equity method investments, income taxes:580 216180(27)(46)
Other undisclosed income (loss) from continuing operations before income taxes(174) (145)(82)3415
Income (loss) from continuing operations before income taxes:406 71997(31)
Income tax expense (benefit)(102) (15)(16)(44)19
Net income (loss):304 5683(37)(12)
Net income (loss) attributable to noncontrolling interest(8) (31)40(24)(7)
Other undisclosed net loss attributable to parent   (81)  
Net income (loss) attributable to parent:296 2543(61)(19)
Preferred stock dividends and other adjustments(7) (7)(7)(7)(7)
Net income (loss) available to common stockholders, diluted:289 1836(68)(26)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):304 5683(37)(12)
Other comprehensive income (loss)0  0(0)(0)
Comprehensive income (loss):304 5683(37)(12)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(8) (31)40(24)(7)
Comprehensive income (loss), net of tax, attributable to parent:296 25124(61)(19)

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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