Company: CNS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001284812-25-000087
Chunk: 48

Company: COHEN & STEERS, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 48
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 December 31, 2023.

Non-operating Income (Loss)(in thousands)Year Ended December 31, 2024Consolidated Funds (1)Corporate - Seed and OtherTotalInterest and dividend income$3,117 $16,227 $19,344 Gain (loss) from investments—net 15,573 1,009 16,582 Foreign currency gain (loss)—net(578)1,316 738 Total non-operating income (loss)18,112 18,552 36,664 Net (income) loss attributable to noncontrolling interests(11,527)— (11,527)Non-operating income (loss) attributable to the Company$6,585 $18,552 $25,137 

(in thousands)Year Ended December 31, 2023Consolidated Funds (1)Corporate -Seed and OtherTotalInterest and dividend income$3,622 $10,996 $14,618 Gain (loss) from investments—net 4,915 (624)4,291 Foreign currency gain (loss)—net(556)(2,579)(3,135)Total non-operating income (loss)7,981 7,793 15,774 Net (income) loss attributable to noncontrolling interests(7,560)— (7,560)Non-operating income (loss) attributable to the Company$421 $7,793 $8,214 _________________________

(1)Represents seed investments in funds that we are required to consolidate under U.S. GAAP.

Income Taxes

A reconciliation of the Company’s statutory federal income tax rate to the effective income tax rate is summarized in the following table:

Years Ended December 31,20242023U.S. statutory tax rate21.0 %21.0 %State and local income taxes, net of federal benefit2.7 3.2 Non-deductible executive compensation1.2 1.9 Valuation allowance(0.7)0.4 Excess tax benefits related to the vesting and delivery of restricted stock units(0.3)(1.2)Other(0.3)— Effective income tax rate23.6 %25.3 %

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Reconciliations of U.S. GAAP to As Adjusted Financial Results

Management believes that use of the following as adjusted (non-GAAP)