Company: CNS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001284812-25-000087
Chunk: 50

Company: COHEN & STEERS, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 50
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 (gains) losses—net (5)(0.02)0.05 (0.10)Tax adjustments—net (6)(0.08)(0.09)(0.30)Diluted earnings per share, as adjusted $2.93 $2.84 $3.70 

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

(2)Represents the impact of incremental expenses associated with the separation of certain employees.

(3)Represents the impact of lease and other expenses related to the Company's prior headquarters, for which the lease expired in January 2024. From a GAAP perspective, the Company recognized lease expense on both its prior and current headquarters as a result of overlapping lease terms.

(4)Represents costs associated with the offering of the Cohen & Steers Real Estate Opportunities and Income Fund (RLTY). 

(5)Represents net foreign currency exchange (gains) losses associated with U.S. dollar-denominated assets held by certain foreign subsidiaries.

(6)Tax adjustments are summarized in the following table:Years Ended December 31,(in thousands)202420232022Impact of tax effects associated with items noted above$(2,020)$(3,085)$(3,522)Impact of discrete tax items(1,792)(1,115)(11,120)Total tax adjustments$(3,812)$(4,200)$(14,642)

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Revenue, Expenses, Operating Income and Operating MarginYears Ended December 31,(in thousands, except percentages)202420232022Revenue, U.S. GAAP$517,417 $489,637 $566,906 Consolidated funds853 (466)790 Revenue, as adjusted$518,270 $489,171 $567,696 Expenses, U.S. GAAP$344,540 325,160 350,968 Consolidated funds(698)(2,021)(838)Accelerated vesting of restricted stock units(7,134)(1,318)(10,260)Other non-recurring expenses (1)(1,196)— — Lease transition and other costs - 280 Park Avenue (2)(807)(9,721)(776)Closed-end fund offering costs (3)— — (15,239)Expenses, as adjusted$334,705 $312,100 $323,855