Company: CNS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001284812-25-000156
Chunk: 20

Company: COHEN & STEERS, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 20
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The following table reconciles income and share data used in the basic and diluted earnings per share computations: Three Months Ended March 31,(in thousands, except per share data)20252024Net income$43,289 $34,414 Net (income) loss attributable to noncontrolling interests(3,511)(410)Net income attributable to common stockholders$39,778 $34,004 Basic weighted average shares outstanding51,058 49,569 Dilutive potential shares from restricted stock units360 266 Diluted weighted average shares outstanding51,418 49,835 Basic earnings per share attributable to common stockholders$0.78 $0.69 Diluted earnings per share attributable to common stockholders$0.77 $0.68 Anti-dilutive common stock equivalents excluded from the calculation 18 11 

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COHEN & STEERS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)(UNAUDITED)

8. Income Taxes

 The provision for income taxes included U.S. federal, state, local and foreign 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 %_________________________*Amounts round to less than 0.1%.

9. Related Party Transactions

The Company is an investment adviser to, and has administration agreements with, Company-sponsored funds and investment products for which certain employees are officers and/or directors. The following table summarizes revenue earned from these affiliated funds:  Three Months Ended March 31,(in thousands)20252024Investment advisory and administration fees$91,892 $82,960 Distribution and service fees7,184 6,817 Total$99,076 $89,777