Company: CNS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001284812-25-000087
Chunk: 53

Company: COHEN & STEERS, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 53
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 proceeds, after deducting commissions and offering expenses, were approximately $68.5 million. We intend to use the net proceeds for general corporate purposes, including seeding track record strategies and investment vehicles. The offering was completed on April 22, 2024 after the issuance of the shares. 

We have committed to invest up to a total of $175.0 million in certain of our investment vehicles, of which $80.0 million remained unfunded as of December 31, 2024. The timing for funding the remaining portion of our commitments is uncertain.

Cash flows

Our cash flows generally result from the operating activities of our business, with investment advisory and administration fees being the most significant contributor.

The table below summarizes our cash flows:Years Ended December 31,(in thousands)202420232022Cash Flow Data:Net cash provided by (used in) operating activities$96,689 $171,961 $61,680 Net cash provided by (used in) investing activities(119,712)(114,776)(2,857)Net cash provided by (used in) financing activities18,167 (119,052)8,975 Net increase (decrease) in cash and cash equivalents(4,856)(61,867)67,798 Effect of foreign exchange rate changes on cash and cash equivalents(1,585)2,756 (4,440)Cash and cash equivalents, beginning of the period189,603 248,714 185,356 Cash and cash equivalents, end of the period$183,162 $189,603 $248,714 

In 2024, cash and cash equivalents, excluding the effect of foreign exchange rate changes, decreased by $4.9 million when compared with 2023. Cash flows from operating activities primarily consisted of net income adjusted for certain non-cash items and changes in assets and liabilities. Net cash provided by operating activities was $96.7 million. Net cash used in investing activities was $119.7 million, which included the funding of $67.0 million of our $125.0 million commitment to CNSREIT and net purchases of U.S. Treasury securities held for corporate purposes of $48.1 million. Net cash provided by financing activities was $18.2 million, including net contributions from noncontrolling interests of $88.9 million and proceeds of $68.5 million from the issuance of common stock in a registered public offering, partially offset by dividends paid to stock