CNS AR24 Digital - Book - Page 75
COHEN & STEERS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS4(Continued)
The gains or losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are included in the
Company's consolidated statements of comprehensive income. The cumulative translation adjustment was $(10.0) million,
$(7.7) million and $(10.8) million as of December 31, 2024, 2023 and 2022, respectively, and was reported within
accumulated other comprehensive income (loss) on the consolidated statements of financial condition. Gains or losses
resulting from transactions denominated in currencies other than the functional currency of each respective entity and gains
and losses arising on remeasurement of U.S. dollar-denominated assets and liabilities held by certain foreign subsidiaries are
included in foreign currency gain (loss)4net in the Company9s consolidated statements of operations.
Concentration of Credit Risk4The Company's cash and cash equivalents are principally on deposit with major
financial institutions and are subject to credit risk should these financial institutions be unable to fulfill their obligations. The
Company limits its exposure to such credit risks by investing in money market funds and U.S. Treasury securities.
3. Revenue
The following tables summarize revenue recognized from contracts with customers by client domicile and by
investment vehicle:
(in thousands)
2024
Years ended December 31,
2023
2022
Client domicile:
North America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Japan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Europe, Middle East and Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Asia Pacific excluding Japan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
449,411
31,696
20,740
15,570
517,417
(in thousands)
2024
Investment vehicle:
Open-end funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Institutional accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Closed-end funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
$
$
423,129
31,869
21,418
13,221
489,637
$
$
496,368
36,056
21,439
13,043
566,906
Years ended December 31,
2023
2022
288,368
129,072
99,977
517,417
$
$
269,727
123,565
96,345
489,637
$
$
326,172
134,012
106,722
566,906
4. Investments
The following table summarizes the Company9s investments:
December 31,
2024
(in thousands)
Equity investments at fair value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Equity method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
F-15
208,411
126,953
13
335,377
December 31,
2023
$
$
180,958
77,996
16
258,970
