CNS AR24 Digital - Book - Page 88
COHEN & STEERS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS4(Continued)
The Company records potential interest and penalties related to uncertain tax positions in the provision for income
taxes. At December 31, 2024 and 2023, the Company had $0.4 million and $0.2 million, respectively, in potential interest and
penalties associated with uncertain tax positions.
The tax years 2018 through 2023 remain open to examination by various taxing jurisdictions.
In connection with the enactment of the Tax Cuts and Jobs Act in 2017, the Company recorded a provisional transition
tax liability of $8.3 million that was payable over eight years on an interest-free basis. The remaining liability of $2.1 million
at December 31, 2024 was included as part of income tax payable on the Company's consolidated statements of financial
condition.
16. Goodwill and Intangible Assets
The following table summarizes the changes in the Company9s goodwill and indefinite-lived intangible assets:
Indefinite-Lived
Intangible Assets
Goodwill
(in thousands)
Balance at January 1, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Currency revaluation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Balance at December 31, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Currency revaluation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Balance at December 31, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
17,799 $
346
18,145 $
(639)
17,506 $
1,250
4
1,250
4
1,250
Goodwill and indefinite-lived intangible assets are not amortized but are tested at least annually for impairment by
comparing the fair value to their carrying amounts. The Company's evaluation indicated that no impairment existed at
December 31, 2024.
17. Leases
The Company has operating leases for corporate offices and certain information technology equipment.
The following table summarizes the Company's lease cost included in general and administrative expense in the
consolidated statements of operations:
Years Ended December 31,
2024
(in thousands)
Operating lease cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
2023
14,312
$
22,556
2022
$
12,148
Supplemental information related to operating leases is summarized below:
Years Ended December 31,
2024
(in thousands)
Supplemental cash flow information: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cash paid for amounts included in the measurement of lease liabilities . . . . . $
Supplemental non-cash information: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Right-of-use assets obtained in exchange for new lease liabilities . . . . . . . . .
F-28
12,049
1,819
2023
$
12,041
8,251
2022
$
12,271
126,230
