Noncontrolling Interest

3 Months Ended

Mar. 31, 2019

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:



	March 31,
	2019		2018
Subsidiary:
Evercore LP	11	%	11	%
Evercore Wealth Management ("EWM")⁽¹⁾	40	%	41	%
Private Capital Advisory L.P. ("PCA")⁽¹⁾	10	%	10	%

(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 three months ended March 31, 2019 and 2018 were as follows:



	For the Three Months Ended March 31,
	2019			2018
Beginning balance	$	249,819		$	252,404

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	10,968			14,193
Other Comprehensive Income	325			521
Total Comprehensive Income	11,293			14,714

Evercore LP Units Converted into Class A Shares	(10,423		)	(34,336		)

Amortization and Vesting of LP Units	5,506			5,122

Other Items:
Distributions to Noncontrolling Interests	(17,984		)	(13,193		)
Issuance of Noncontrolling Interest	—			60
Purchase of Noncontrolling Interest	—			(298		)
Total Other Items	(17,984		)	(13,431		)

Ending balance	$	238,211		$	224,473

Other Comprehensive Income - Other Comprehensive Income attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Marketable Securities and Investments, net, of ($89) and ($81) for the three months ended March 31, 2019 and 2018, respectively, and Foreign Currency Translation Adjustment Gain, net, of $414 and $602 for the three months ended March 31, 2019 and 2018, respectively.

Interests Purchased - On March 29, 2018, the Company purchased, at fair value, an additional 15% of PCA for $25,525 (in cash and a note payable of $9,164, included in Other Current Liabilities on the Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2018). This purchase resulted in a decrease to Noncontrolling Interest of $298 and a decrease to Additional Paid-In-Capital of $25,227, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2018.