Noncontrolling Interest

9 Months Ended

Sep. 30, 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. In circumstances where the governing documents of the entity to which the noncontrolling interest relates require special allocations of profits or losses to the controlling and noncontrolling interest holders, then the net income or loss of these entities is allocated based on these special allocations.



	September 30,
	2019		2018
Subsidiary:
Evercore LP	12	%	11	%
Evercore Wealth Management ("EWM")⁽¹⁾	20	%	44	%
Private Capital Advisory ("PCA")⁽²⁾	—	%	10	%
Real Estate Capital Advisory ("RECA")⁽³⁾	38	%	38	%

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

(2) Noncontrolling Interests represent the Common Interests of Private Capital Advisory L.P.

(3) Noncontrolling Interests represent the Class R Interests of Private Capital Advisory L.P.

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

Changes in Noncontrolling Interest for the three and nine months ended September 30, 2019 and 2018 were as follows:



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2019			2018			2019			2018
Beginning balance	$	236,549		$	227,274		$	249,819		$	252,404

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	9,226			9,838			35,709			36,760
Other Comprehensive Income (Loss)	(502		)	427			(766		)	8
Total Comprehensive Income	8,724			10,265			34,943			36,768

Evercore LP Units Converted into Class A Shares	(1,010		)	(1,001		)	(12,187		)	(42,566		)

Amortization and Vesting of LP Units	6,993			4,928			19,109			14,925

Other Items:
Distributions to Noncontrolling Interests	(13,251		)	(9,790		)	(44,947		)	(30,374		)
Issuance of Noncontrolling Interest	600			335			3,301			1,165
Purchase of Noncontrolling Interest	—			(700		)	(11,433		)	(1,011		)
Total Other Items	(12,651		)	(10,155		)	(53,079		)	(30,220		)

Ending balance	$	238,605		$	231,311		$	238,605		$	231,311

Other Comprehensive Income – Other Comprehensive Income attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Securities and Investments, net, of ($7) and ($105) for the three and nine months ended September 30, 2019, respectively, and ($2) and ($66) for the three and nine months ended September 30, 2018, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($495) and ($661) for the three and nine months ended September 30, 2019, respectively, and $429 and $74 for the three and nine months ended September 30, 2018, respectively.

Interests Issued – During the second quarter of 2018, in conjunction with the establishment of the RECA business, certain employees of that business purchased Class R Interests, at fair value, in Private Capital Advisory L.P., resulting in an increase to Noncontrolling Interest of $770 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2018.

Interests Purchased – On May 31, 2019, the Company purchased, at fair value, the remaining 10% of the Private Capital Advisory L.P. Common Interests for $28,382. This purchase resulted in a decrease to Noncontrolling Interest of $6,674 and a decrease to Additional Paid-In-Capital of $21,708, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2019.

On May 31, 2019, the Company also purchased, at fair value, an additional 17% of the EWM Class A Units for $24,533 (in cash of $21,832 and the issuance of 31 Class A LP Units having a fair value of $2,701). This purchase resulted in a net decrease to Noncontrolling Interest of $4,759 and a decrease to Additional Paid-In-Capital of $19,774, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2019.

On March 29, 2018, the Company purchased, at fair value, an additional 15% of the Private Capital Advisory L.P. Common Interests for $25,525. 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 September 30, 2018.