CNS AR24 Digital - Book - Page 81
COHEN & STEERS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS4(Continued)
7. Property and Equipment
The following table summarizes the Company9s property and equipment:
December 31,
(in thousands)
2024
2023
Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Furniture and fixtures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Software . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Leasehold improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Less: Accumulated depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Property and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
12,208 $
12,709
17,713
51,718
94,348
(25,744)
68,604 $
15,525
13,588
27,554
59,260
115,927
(49,591)
66,336
Depreciation and amortization expense related to property and equipment was $9.3 million, $4.2 million and $4.4
million for the years ended December 31, 2024, 2023 and 2022, respectively.
Depreciation and amortization expense related to property and equipment is recorded using the straight-line method
over the estimated useful lives of the related assets which range from 3-7 years. Leasehold improvements are amortized using
the straight-line method over shorter of the lease term or the estimated useful life.
8. Earnings Per Share
The following table reconciles income and share data used in the basic and diluted earnings per share computations:
Years Ended December 31,
2023
(in thousands, except per share data)
2024
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Net (income) loss attributable to noncontrolling interests . . . . . . . . . . . . . . . . .
Net income attributable to common stockholders . . . . . . . . . . . . . . . . . . . . . . . $
Basic weighted average shares outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dilutive potential shares from restricted stock units . . . . . . . . . . . . . . . . . . . . .
Diluted weighted average shares outstanding . . . . . . . . . . . . . . . . . . . . . . . . . .
162,792 $
(11,527)
151,265 $
50,409
529
50,938
136,609 $
(7,560)
129,049 $
49,308
245
49,553
Basic earnings per share attributable to common stockholders . . . . . . . . . . . . . $
Diluted earnings per share attributable to common stockholders . . . . . . . . . . . $
3.00
2.97
2.62
2.60
Anti-dilutive common stock equivalents excluded from the calculation . . . . . .
3
F-21
$
$
77
$
$
2022
149,486
21,556
171,042
48,781
516
49,297
3.51
3.47
3
