Company: CNS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001284812-25-000255
Chunk: 37

Company: COHEN & STEERS, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 37
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2,375 2,268 $107 4.7%Total expenses$92,799 $83,319 $9,480 11.4%

Employee compensation and benefits increased from the three months ended June 30, 2024, primarily due to higher

incentive compensation of $5.9 million, partially offset by lower amortization of restricted stock units of $1.3 million and lower severance of $1.6 million.

Distribution and service fees increased from the three months ended June 30, 2024, primarily due to higher average assets under management in U.S. open-end funds.

General and administrative expenses increased from the three months ended June 30, 2024, primarily due to higher expenses paid on behalf of certain Company-sponsored funds totaling $951,000, increased talent acquisition costs of $642,000 and higher sponsorship and business development-related expenses of $638,000.

Operating Margin

Operating margin for the three months ended June 30, 2025 increased to 31.8% from 31.5% for the three months ended June 30, 2024. Operating margin represents the ratio of operating income to revenue.

Non-operating Income (Loss)(in thousands)Three Months Ended June 30, 2025Consolidated Funds (1)Corporate -Seed and OtherTotalInterest and dividend income$2,103 $4,212 $6,315 Gain (loss) from investments—net 4,909 1,806 6,715 Foreign currency gain (loss)—net(245)(2,278)(2,523)Total non-operating income (loss)6,767 3,740 10,507 Net (income) loss attributable to noncontrolling interests(4,923)— (4,923)Non-operating income (loss) attributable to the Company$1,844 $3,740 $5,584 

(in thousands)Three Months Ended June 30, 2024Consolidated Funds (1)Corporate -Seed and OtherTotalInterest and dividend income$1,205 $3,852 $5,057 Gain (loss) from investments—net (3,264)1,246 (2,018)Foreign currency gain (loss)—net(307)(176)(483)Total non-operating income (loss)(2,366)4,922 2,556 Net (income) loss attributable