Company: CNS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001284812-25-000156
Chunk: 60

Company: COHEN & STEERS, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 60
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 items(2,891)(410)Total tax adjustments$(3,329)$(910)

26

Revenue, Expenses, Operating Income and Operating MarginThree Months Ended March 31,(in thousands, except percentages)20252024Revenue, U.S. GAAP$134,467 $122,710 Fund related amounts (1)(677)234 Revenue, as adjusted$133,790 $122,944 Expenses, U.S. GAAP$89,269 $82,445 Fund related amounts (1)(940)(175)Accelerated vesting of restricted stock units(369)(2,211)Lease transition and other costs - 280 Park Avenue (2)— (807)Other non-recurring expenses (3)(616)— Expenses, as adjusted$87,344 $79,252 Operating income, U.S. GAAP$45,198 $40,265 Fund related amounts (1)263 409 Accelerated vesting of restricted stock units369 2,211 Lease transition and other costs - 280 Park Avenue (2)— 807 Other non-recurring expenses (3)616 — Operating income, as adjusted$46,446 $43,692 Operating margin, U.S. GAAP33.6 %32.8 %Operating margin, as adjusted 34.7 %35.5 %

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(1)Represents the impact of consolidated funds and expenses incurred on behalf of certain Company-sponsored funds.

(2)Represents the impact of lease and other expenses related to the Company's prior headquarters, for which the lease expired in January 2024. 

(3)Represents reimbursement of filing fees paid by certain members of senior leadership.

Non-operating Income (Loss)Three Months Ended March 31,(in thousands)20252024Non-operating income (loss), U.S. GAAP$7,752 $5,037 Seed investments—net (1)(3,824)(1,822)Foreign currency exchange (gain) loss—net (2)969 (456)Non-operating income (loss), as adjusted$4,897 $2,759 

_________________________

(1)Represents the impact of consolidated funds and the net effect of corporate seed investment performance.

(2)Represents net foreign currency exchange (gain) loss associated with U.S. dollar-denominated assets held by certain foreign subsidiaries.