XML 26 R52.htm IDEA: XBRL DOCUMENT v3.3.0.814
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders - Calculation (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Earnings Per Share, Basic and Diluted [Line Items]        
Net income attributable to Evercore Partners Inc. common shareholders $ 7,197 $ 24,309 $ 22,261 $ 59,142
Weighted average shares of Class A common stock outstanding, including vested restricted stock units (RSUs) (in shares) 36,773 36,527 36,649 35,655
Basic net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) $ 0.20 $ 0.67 $ 0.61 $ 1.66
Diluted weighted average shares of Class A common stock outstanding (in shares) 44,334 41,873 43,100 41,819
Diluted net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) $ 0.16 $ 0.58 $ 0.52 $ 1.41
Class A [Member]        
Earnings Per Share, Basic and Diluted [Line Items]        
Net income attributable to Evercore Partners Inc. common shareholders $ 7,197 $ 24,309 $ 22,261 $ 59,142
Weighted average shares of Class A common stock outstanding, including vested restricted stock units (RSUs) (in shares) 36,773 36,527 36,649 35,655
Basic net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) $ 0.20 $ 0.67 $ 0.61 $ 1.66
Noncontrolling Interest Related To Assumed Exchange Of Lp Units For Common Shares [1]
Associated Corporate Taxes Related To Assumed Elimination Of Noncontrolling Interest Described [1]
Diluted net income attributable to Evercore Partners Inc. common shareholders $ 7,197 $ 24,309 $ 22,261 $ 59,142
Assumed exchange of LP Units for Class A Shares (in shares) [1]
Additional shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs and deferred consideration, as calculated using the Treasury Stock Method (in shares) 2,026 2,208 2,029 2,800
Shares that are contingently issuable (in shares) 2,271 [2] 0 1,269 [2] 110
Assumed conversion of Warrants issued (in shares) [3] 3,264 3,138 3,153 3,254
Diluted weighted average shares of Class A common stock outstanding (in shares) 44,334 41,873 43,100 41,819
Diluted net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) $ 0.16 $ 0.58 $ 0.52 $ 1.41
[1] The Company has outstanding LP Units in its subsidiary, Evercore LP, which give the holders the right to receive Class A Shares upon exchange on a one for one basis. During the three and nine months ended September 30, 2015 and 2014, the LP Units were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Partners Inc. common shareholders. The units that would have been included in the denominator of the computation of diluted net income per share attributable to Evercore Partners Inc. common shareholders if the effect would have been dilutive were 6,545 and 6,682 for the three and nine months ended September 30, 2015, respectively, and 4,670 and 4,823 for the three and nine months ended September 30, 2014, respectively. The adjustment to the numerator, Diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $1,576 and $4,391 for the three and nine months ended September 30, 2015, respectively, and $3,200 and $7,987 for the three and nine months ended September 30, 2014, respectively. In computing this adjustment, the Company assumes that all vested Class A LP Units and all Class E limited partnership units of Evercore LP ("Class E LP Units") are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Partners Inc. and, that it has adopted a conventional corporate tax structure and is taxed as a C Corporation in the U.S. at prevailing corporate tax rates. The Company does not anticipate that the LP Units will result in a dilutive computation in future periods.
[2] At September 30, 2015, the Company has outstanding Class G and H limited partnership interests of Evercore LP ("Class G and H LP Interests") which are contingently exchangeable into Class E LP Units, and ultimately Class A Shares, as they are subject to certain performance thresholds being achieved. See Note 14 for a further discussion. For the purposes of calculating diluted net income per share attributable to Evercore Partners Inc. common shareholders, the Company’s Class G and H LP Interests will be included in diluted weighted average Class A Shares outstanding as of the beginning of the period in which all necessary performance conditions have been satisfied. If all necessary performance conditions have not been satisfied by the end of the period, the number of shares that will be included in diluted weighted average Class A Shares outstanding will be based on the number of shares that would be issuable if the end of the reporting period were the end of the performance period. For the three and nine months ended September 30, 2015, 2,271 and 1,269 of these interests, respectively, were assumed to be converted to an equal number of Class A Shares for purposes of computing diluted EPS.
[3] (c)In November 2015, Mizuho has advised the Company it intends to exercise in full its outstanding Warrants to purchase 5,455 shares of the Company’s Class A common stock, of which the Company intends to repurchase 2,355 shares. See Note 10 for further information.