Company: CNS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001284812-25-000299
Chunk: 78

Company: COHEN & STEERS, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 78
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 (1)(967)(184)(3,009)(540)Accelerated vesting of restricted stock units(1,142)(2,336)(3,346)(7,043)Lease transition and other costs - 280 Park Avenue (2)———(807)Fund launch and rights offering costs (3)(650)—(650)—Other non-recurring expenses (4)——(616)(1,196)Expenses, as adjusted$90,060$85,810$267,266$244,508Operating income, U.S. GAAP$48,901$44,873$137,426$123,540Fund related amounts (1)1844147431,271Accelerated vesting of restricted stock units1,1422,3363,3467,043Lease transition and other costs - 280 Park Avenue (2)———807Fund launch and rights offering costs (3)650—650—Other non-recurring expenses (4)——6161,196Operating income, as adjusted$50,877$47,623$142,781$133,857Operating margin, U.S. GAAP34.5 %33.7 %33.3 %32.7 %Operating margin, as adjusted 36.1 %35.7 %34.8 %35.4 %

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(1)Represents the impact of consolidated funds and expenses incurred on behalf of certain Company-sponsored funds.

(2)Represents the impact of lease and other expenses related to the Company's prior headquarters, for which the lease expired in January 2024.

(3)Represents costs incurred in connection with a closed-end fund rights offering.

(4)Represents reimbursement of filing fees paid by certain members of senior leadership for the nine months ended September 30, 2025, and the impact of incremental expenses associated with the separation of certain employees for the nine months ended September 30, 2024.

Non-operating Income (Loss)Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Non-operating income (loss), U.S. GAAP$6,657 $22,703 $24,916 $30,296 Seed investments—net (1)(1,427)(19,487)(13,993)(20,147)Foreign currency exchange (gain) loss—net (2)(677)2,191