Company: CNS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001284812-25-000299
Chunk: 18

Company: COHEN & STEERS, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 18
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 management with the relevant authority authorizes and commits to funding the software project and it is probable that the project will be completed, and the software will be used to perform its intended function. This new guidance will be effective on January 1, 2028. The Company is currently evaluating the impact that the adoption of this new standard will have on the Company's condensed consolidated financial statements and related disclosures.  Recently Enacted Tax LegislationOn July 4, 2025, President Trump signed into law the legislation formally titled “An Act to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14”, which became effective during the third quarter of fiscal year 2025. The Company has determined the legislation did not have a material impact on the Company's condensed consolidated financial statements and related disclosures.

3. Revenue

The following tables summarize revenue recognized from contracts with customers by client domicile and by investment vehicle:Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Client domicile:North America$124,180 $115,989 $360,104 $328,936 Japan7,594 8,151 22,996 23,472 Europe, Middle East and Africa5,508 5,092 16,299 14,019 Asia Pacific excluding Japan4,438 3,971 12,914 11,207 Total$141,720 $133,203 $412,313 $377,634 Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Investment vehicle:Open-end funds$82,332 $74,567 $237,880 $210,164 Institutional accounts33,210 32,956 98,231 93,487 Closed-end funds26,178 25,680 76,202 73,983 Total$141,720 $133,203 $412,313 $377,634 

4. Investments

The following table summarizes the Company's investments:(in thousands)September 30, 2025December 31, 2024Equity investments at fair value$218,160 $208,411 Trading197,624 126,953 Equity method9 13 Total investments$415,793 $335,377  

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COHEN & STEERS, INC. AND