Noncontrolling Interest

Noncontrolling Interest recorded in the unaudited condensed consolidated financial statements of the Company relates to the following approximate interests in certain consolidated subsidiaries, which are not owned by the Company:



	June 30,
	2018		2017
Subsidiary:
Evercore LP	11	%	13	%
Evercore Wealth Management ("EWM")⁽¹⁾	44	%	43	%
PCA⁽¹⁾	24	%	26	%

(1) Noncontrolling Interests represent a blended rate for multiple classes of interests.

The Noncontrolling Interests for Evercore LP, EWM and PCA have rights, in certain circumstances, to convert into Class A Shares.

Changes in Noncontrolling Interest for the six months ended June 30, 2018 and 2017 were as follows:



	For the Six Months Ended June 30,
	2018			2017
Beginning balance	$	252,404		$	256,033

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	26,922			21,569
Other Comprehensive Income (Loss)	(419		)	304
Total Comprehensive Income	26,503			21,873

Evercore LP Units Purchased or Converted into Class A Shares	(41,565		)	(26,360		)

Amortization and Vesting of LP Units/Interests	9,997			(3,119		)

Other Items:
Distributions to Noncontrolling Interests	(20,584		)	(15,944		)
Issuance of Noncontrolling Interest	830			8,279
Purchase of Noncontrolling Interest	(311		)	(261		)
Other, net	—			(148		)
Total Other Items	(20,065		)	(8,074		)

Ending balance	$	227,274		$	240,353

Other Comprehensive Income - Other Comprehensive Income attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Marketable Securities and Investments, net, of $17 and ($64) for the three and six months ended June 30, 2018, respectively, and $82 and $74 for the three and six months ended June 30, 2017, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($957) and ($355) for the three and six months ended June 30, 2018, respectively, and $178 and $230 for the three and six months ended June 30, 2017, respectively.

Interests Issued - During the second quarter of 2018, in conjunction with the establishment of the RECA business, certain employees of that business purchased interests, at fair value, in PCA, resulting in an increase to Noncontrolling Interest of $770 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2018. See Note 5 for further information.

During the six months ended June 30, 2017, the Company issued 111 Class A LP Units as settlement of contingent consideration, resulting in an increase to Noncontrolling Interest of $8,169 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2017.

Interests Purchased - On March 29, 2018, the Company purchased, at fair value, an additional 15% of PCA for $25,525 and on March 3, 2017, the Company purchased, at fair value, an additional 13% of PCA for $7,071. These purchases resulted in a decrease to Noncontrolling Interest of $298 and $261 and a decrease to Additional Paid-In-Capital of $25,227 and $6,810, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2018 and 2017, respectively.

During the six months ended June 30, 2017, the Company purchased 30 LP Units and certain other rights from noncontrolling interest holders, resulting in a decrease to Noncontrolling Interest of $2,391 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2017.