Evercore Inc. Stockholders' Equity

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Evercore Inc. Stockholders' Equity

Evercore Inc. Stockholders' Equity

Dividends – The Company's Board of Directors declared on July 23, 2019, a quarterly cash dividend of $0.58 per share, to the holders of record of shares of Class A common stock ("Class A Shares") as of August 30, 2019, which will be paid on September 13, 2019. During the three and six months ended June 30, 2019, the Company declared and paid dividends of $0.58 and $1.08 per share, respectively, totaling $23,232 and $43,729, respectively, and accrued deferred cash dividends on unvested restricted stock units ("RSUs"), totaling $3,789 and $7,125, respectively. The Company also paid deferred cash dividends of $99 and $7,068 during the three and six months ended June 30, 2019, respectively. During the three and six months ended June 30, 2018, the Company declared and paid dividends of $0.50 and $0.90 per share, respectively, totaling $20,483 and $37,022, respectively, and accrued deferred cash dividends on unvested RSUs, totaling $3,238 and $5,869, respectively.

Treasury Stock – During the three months ended June 30, 2019, the Company purchased 19 Class A Shares primarily from employees at market values ranging from $77.84 to $96.22 per share (at an average cost per share of $90.79), primarily for the net settlement of stock-based compensation awards, and 1,252 Class A Shares at market values ranging from $77.86 to $92.33 per share (at an average cost per share of $84.20) pursuant to the Company's share repurchase program. The aggregate 1,271 Class A Shares were purchased at an average cost per share of $84.30, and the result of these purchases was an increase in Treasury Stock of $107,136 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2019.

During the six months ended June 30, 2019, the Company purchased 998 Class A Shares primarily from employees at market values ranging from $71.11 to $96.22 per share (at an average cost per share of $89.55), primarily for the net settlement of stock-based compensation awards, and 1,522 Class A Shares at market values ranging from $73.18 to $92.33 per share (at an average cost per share of $82.40) pursuant to the Company's share repurchase program. The aggregate 2,520 Class A Shares were purchased at an average cost per share of $85.23, and the result of these purchases was an increase in Treasury Stock of $214,829 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2019.

LP Units – During the three and six months ended June 30, 2019, 20 and 257 Evercore LP partnership units ("LP Units"), respectively, were exchanged for Class A Shares. This resulted in increases to Common Stock of $2 for the six months ended June 30, 2019 and Additional Paid-In-Capital of $754 and $11,177 for the three and six months ended June 30, 2019, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2019.

Accumulated Other Comprehensive Income (Loss) – As of June 30, 2019, Accumulated Other Comprehensive Income (Loss) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition includes an accumulated Unrealized Gain (Loss) on Marketable Securities and Investments, net, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($4,097) and ($27,891), respectively.

The application of ASU No. 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities" resulted in the reclassification of $2,229 of cumulative unrealized losses, net of tax, on Marketable Securities in Accumulated Other Comprehensive Income (Loss) to Retained Earnings on the Unaudited Condensed Consolidated Statement of Financial Condition as of January 1, 2018.