Company: CNS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001284812-25-000255
Chunk: 45

Company: COHEN & STEERS, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 45
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:Six Months Ended June 30,(in thousands)20252024Cash Flow Data:Net cash provided by (used in) operating activities$(176,585)$36,237 Net cash provided by (used in) investing activities4,532 (103,743)Net cash provided by (used in) financing activities83,264 1,500 Net increase (decrease) in cash and cash equivalents(88,789)(66,006)Effect of foreign exchange rate changes on cash and cash equivalents1,357 (810)Cash and cash equivalents, beginning of the period183,162 189,603 Cash and cash equivalents, end of the period$95,730 $122,787 

Cash and cash equivalents decreased by $88.8 million, excluding the effect of foreign exchange rate changes, for the six months ended June 30, 2025. Cash flows from operating activities primarily consisted of net income adjusted for certain non-cash items and changes in assets and liabilities. Net cash used in operating activities was $176.6 million, which

included net purchases of investments within consolidated funds of $242.2 million, including $54.3 million of our seed investments into the ETFs. Net cash provided by investing activities was $4.5 million. Net cash provided by financing activities was $83.3 million, including net contributions from noncontrolling interests of $172.7 million, partially offset by dividends paid to stockholders of $63.4 million and repurchases of common stock to satisfy employee withholding tax obligations on the vesting and delivery of restricted stock units of $26.6 million.

Contractual Obligations, Commitments and Contingencies

Contractual Obligations

The Company’s material contractual obligations, commitments and contingencies at June 30, 2025 include operating leases, investment commitments, and purchase obligations. As of June 30, 2025, there have been no material changes to our contractual obligations from our Annual Report on Form 10-K for the year ended December 31, 2024 other than the items described below.

Investment Commitments

We have committed to invest up to a total of $175.0 million in certain of our investment vehicles. Refer to Note 11, Commitments and Contingencies, in the notes to the condensed consolidated financial statements included in Part I of this filing for further discussion. 

Dividends

    Subject to the approval of our board of directors, we anticipate paying