Company: CNS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001284812-25-000156
Chunk: 58

Company: COHEN & STEERS, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 58
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$4,231 $5,371 Gain (loss) from investments—net4,208 (655)3,553 Foreign currency gain (loss)—net(8)(1,164)(1,172)Total non-operating income (loss)5,340 2,412 7,752 Net (income) loss attributable to noncontrolling interests(3,511)— (3,511)Non-operating income (loss) attributable to the Company$1,829 $2,412 $4,241 

(in thousands)Three Months Ended March 31, 2024Consolidated Funds (1)Corporate -Seed and OtherTotalInterest and dividend income$985 $2,934 $3,919 Gain (loss) from investments—net561 423 984 Foreign currency gain (loss)—net(208)342 134 Total non-operating income (loss)1,338 3,699 5,037 Net (income) loss attributable to noncontrolling interests(410)— (410)Non-operating income (loss) attributable to the Company$928 $3,699 $4,627 _________________________

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

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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:

Three Months Ended March 31,20252024U.S. statutory tax rate21.0 %21.0 %State and local income taxes, net of federal benefit2.9 2.9 Non-deductible executive compensation2.9 0.9 Excess tax benefits related to the vesting and delivery of restricted stock units(6.6)(0.6)Unrecognized tax benefit adjustments(0.4)— Valuation allowance(0.3)(0.2)Other— 0.3 Effective income tax rate19.5 %24.3 %

25

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

Management believes that use of the following as adjusted (non-GAAP) financial results provides greater transparency into the Company’s operating performance. In addition, these as adjusted financial results are used to prepare the Company's internal management reports which are used in evaluating its business. While management believes that these as adjusted financial results are useful in