Evercore Inc. Stockholders' Equity

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Evercore Inc. Stockholders' Equity

Evercore Inc. Stockholders' Equity

Dividends – The Company's Board of Directors declared on October 22, 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 November 29, 2019, which will be paid on December 13, 2019. During the three and nine months ended September 30, 2019, the Company declared and paid dividends of $0.58 and $1.66 per share, respectively, totaling $22,944 and $66,673, respectively, and accrued deferred cash dividends on unvested restricted stock units ("RSUs"), totaling $3,778 and $10,903, respectively. The Company also paid deferred cash dividends of $134 and $7,202 during the three and nine months ended September 30, 2019, respectively. During the three and nine months ended September 30, 2018, the Company declared and paid dividends of $0.50 and $1.40 per share, respectively, totaling $20,426 and $57,448, respectively, and accrued deferred cash dividends on unvested RSUs, totaling $3,223 and $9,092, respectively.

Treasury Stock – During the three months ended September 30, 2019, the Company purchased 17 Class A Shares primarily from employees at market values ranging from $76.49 to $89.82 per share (at an average cost per share of $83.36), primarily for the net settlement of stock-based compensation awards, and 477 Class A Shares at market values ranging from $75.91 to $79.99 per share (at an average cost per share of $78.87) pursuant to the Company's share repurchase program. The aggregate 494 Class A Shares were purchased at an average cost per share of $79.03, and the result of these purchases was an increase in Treasury Stock of $39,035 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2019.

During the nine months ended September 30, 2019, the Company purchased 1,015 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 $89.45), primarily for the net settlement of stock-based compensation awards, and 1,999 Class A Shares at market values ranging from $73.18 to $92.33 per share (at an average cost per share of $81.56) pursuant to the Company's share repurchase program. The aggregate 3,014 Class A Shares were purchased at an average cost per share of $84.22, and the result of these purchases was an increase in Treasury Stock of $253,864 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2019.

LP Units – During the three and nine months ended September 30, 2019, 25 and 282 Evercore LP partnership units ("LP Units"), respectively, were exchanged for Class A Shares. This resulted in increases to Common Stock of $1 and $3 for the three and nine months ended September 30, 2019, respectively, and Additional Paid-In-Capital of $1,010 and $12,187 for the three and nine months ended September 30, 2019, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2019.

Accumulated Other Comprehensive Income (Loss) – As of September 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 Securities and Investments, net, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($4,135) and ($30,654), 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 Investment Securities in Accumulated Other Comprehensive Income (Loss) to Retained Earnings on the Unaudited Condensed Consolidated Statement of Financial Condition as of January 1, 2018.