Company: CNS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001284812-25-000156
Chunk: 62

Company: COHEN & STEERS, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 62
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 unsecured revolving credit facility maturing on January 20, 2026.

We have committed to invest up to a total of $175.0 million in certain of our investment vehicles, of which $66.3 million remained unfunded as of March 31, 2025. The timing for funding the remaining portion of our commitments is uncertain.

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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:Three Months Ended March 31,(in thousands)20252024Cash Flow Data:Net cash provided by (used in) operating activities$(108,948)$4,863 Net cash provided by (used in) investing activities2,001 (29,361)Net cash provided by (used in) financing activities(10,543)(64,261)Net increase (decrease) in cash and cash equivalents(117,490)(88,759)Effect of foreign exchange rate changes on cash and cash equivalents471 (708)Cash and cash equivalents, beginning of the period183,162 189,603 Cash and cash equivalents, end of the period66,143 100,136 

Cash and cash equivalents decreased by $117.5 million, excluding the effect of foreign exchange rate changes, for the three months ended March 31, 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 $108.9 million which included net purchases of investments within consolidated funds of $115.3 million, of which $54.3 million represented seed investments into the ETFs made by the Company. Net cash provided by investing activities was $2.0 million. Net cash used in financing activities was $10.5 million, including net contributions from noncontrolling interests of $46.8 million, partially offset by dividends paid to stockholders of $31.7 million and repurchases of common stock to satisfy employee withholding tax obligations on the vesting and delivery of restricted stock units of $26.0 million.

Contractual Obligations, Commitments and Contingencies

Contractual Obligations

The Company’s material contractual obligations, commitments and contingencies at March 31, 2025 include operating leases, investment commitments, and purchase obligations. As of March 31, 2025, there have been no material changes to our contractual obligations