Noncontrolling Interest

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



	December 31,
	2018		2017		2016
Subsidiary:
Evercore LP	11	%	12	%	14	%
EWM⁽¹⁾	43	%	42	%	42	%
PCA⁽¹⁾	24	%	25	%	39	%

(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 years ended December 31, 2018, 2017 and 2016 were as follows:



	For the Years Ended December 31,
	2018			2017			2016
Beginning balance	$	252,404		$	256,033		$	202,664

Comprehensive Income (Loss):
Net Income Attributable to Noncontrolling Interest	65,611			53,753			40,984
Other Comprehensive Income (Loss)	(203		)	3,375			(3,737		)
Total Comprehensive Income	65,408			57,128			37,247

Evercore LP Units Purchased or Converted into Class A Shares	(46,594		)	(47,263		)	(16,480		)

Amortization and Vesting of LP Units/Interests	19,860			14,922			81,392

Other Items:
Distributions to Noncontrolling Interests	(41,413		)	(36,374		)	(38,154		)
Issuance of Noncontrolling Interest	1,165			8,460			885
Purchase of Noncontrolling Interest	(1,011		)	(281		)	(5,225		)
Deconsolidation of GCP III	—			—			(5,808		)
Other, net	—			(221		)	(488		)
Total Other Items	(41,259		)	(28,416		)	(48,790		)

Ending balance	$	249,819		$	252,404		$	256,033

Other Comprehensive Income - Other Comprehensive Income (Loss) attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Marketable Securities and Investments, net, of ($43), $75 and ($699) for the years ended December 31, 2018, 2017 and 2016, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($160), $3,300 and ($3,038) for the years ended December 31, 2018, 2017 and 2016, respectively.

Interests Issued - During 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 Consolidated Statement of Financial Condition as of December 31, 2018. See Note 5 for further information.

During the year ended December 31, 2017, the Company issued 112 Class A LP Units primarily as settlement of contingent consideration, resulting in an increase to Noncontrolling Interest of $8,460 on the Company's Consolidated Statement of Financial Condition as of December 31, 2017.

Interests Purchased - On March 29, 2018, the Company purchased, at fair value, an additional 15% of PCA for $25,525. On March 3, 2017, the Company purchased, at fair value, an additional 13% of PCA for $7,071, and on December 11, 2017, the Company purchased, at fair value, an additional 1% of PCA for $1,429. These purchases resulted in a decrease to Noncontrolling Interest of $298 and $281 and a decrease to Additional Paid-In-Capital of $25,227 and $8,219, on the Company's Consolidated Statements of Financial Condition as of December 31, 2018 and 2017, respectively.

During the year ended December 31, 2017, the Company purchased 32 LP Units and certain other rights from noncontrolling interest holders, resulting in a decrease to Noncontrolling Interest of $2,523 on the Company's Consolidated Statement of Financial Condition as of December 31, 2017.

During the year ended December 31, 2016, the Company purchased 5 LP Units and certain other rights from a noncontrolling interest holder, resulting in a decrease to Noncontrolling Interest of $235 on the Company's Consolidated Statement of Financial Condition as of December 31, 2016.

In addition, LP Units were exchanged for Class A Shares during the years ended December 31, 2018, 2017 and 2016. See Note 15 for further information.

On January 29, 2016, the Company purchased, at fair value, all of the noncontrolling interest in ECB for $6,482, resulting in a decrease to Noncontrolling Interest of $5,225 and a decrease to Additional Paid-In-Capital of $1,257 on the Company's Consolidated Statement of Financial Condition as of December 31, 2016.

GCP III - On July 19, 2016, the Company and the principals of its Mexican Private Equity business entered into an agreement to transfer ownership of its Mexican Private Equity business and related entities to Glisco. Upon the closing of this transaction, which occurred on September 30, 2016, the Company deconsolidated the noncontrolling interest in GCP III of $5,808.