Evercore Inc. (Parent Company Only) Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

EVERCORE INC.

(parent company only)

CONDENSED STATEMENTS OF FINANCIAL CONDITION

(dollars in thousands, except share data)


	December 31,
	2020		2019
ASSETS
Equity Investment in Subsidiary	$	1,419,718	$	1,066,398

Deferred Tax Assets	237,595		244,965
Goodwill	15,236		15,236
Other Assets	25,603		18,704
TOTAL ASSETS	$	1,698,152	$	1,345,303
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Current Liabilities
Payable to Related Party	$	9,891	$	9,570

Other Current Liabilities	3,963		6,003
Current Portion of Notes Payable	37,974		—
Total Current Liabilities	51,828		15,573
Amounts Due Pursuant to Tax Receivable Agreements	76,860		84,952
Long-term Debt - Notes Payable	338,518		375,062
TOTAL LIABILITIES	467,206		475,587
Stockholders' Equity
Common Stock
Class A, par value $0.01 per share (1,000,000,000 shares authorized, 72,195,283 and 68,698,675 issued at December 31, 2020 and 2019, respectively, and 40,750,225 and 39,176,010 outstanding at December 31, 2020 and 2019, respectively)	722		687
Class B, par value $0.01 per share (1,000,000 shares authorized, 48 and 84 issued and outstanding at December 31, 2020 and 2019, respectively)	—		—
Additional Paid-In-Capital	2,266,136		2,016,524
Accumulated Other Comprehensive Income (Loss)	(9,758)		(27,596)
Retained Earnings	798,573		558,269
Treasury Stock at Cost (31,445,058 and 29,522,665 shares at December 31, 2020 and 2019, respectively)	(1,824,727)		(1,678,168)
TOTAL STOCKHOLDERS' EQUITY	1,230,946		869,716
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	1,698,152	$	1,345,303

See notes to parent company only financial statements.

EVERCORE INC.

(parent company only)

CONDENSED STATEMENTS OF OPERATIONS


	For the Years Ended December 31,
	2020		2019		2018
REVENUES
Other Revenue, Including Interest and Investments	$	18,197	$	12,915	$	9,202
TOTAL REVENUES	18,197		12,915		9,202
Interest Expense	18,197		12,915		9,202
NET REVENUES	—		—		—
EXPENSES
TOTAL EXPENSES	—		—		—
OPERATING INCOME	—		—		—
Equity in Income of Subsidiary	451,129		383,717		473,978
Provision for Income Taxes	100,555		86,281		96,738
NET INCOME	$	350,574	$	297,436	$	377,240

See notes to parent company only financial statements.

EVERCORE INC.

(parent company only)

CONDENSED STATEMENTS OF CASH FLOWS


	For the Years Ended December 31,
	2020		2019		2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$	350,574	$	297,436	$	377,240
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:
Undistributed Income of Subsidiary	(451,129)		(383,717)		(473,978)

Deferred Taxes	11,395		(3,966)		(5,311)
Accretion on Long-term Debt	435		336		265
(Increase) Decrease in Operating Assets:
Other Assets	(6,899)		(18,704)		9,689
Increase (Decrease) in Operating Liabilities:

Taxes Payable	—		(30,749)		30,749

Net Cash Provided by (Used in) Operating Activities	(95,624)		(139,364)		(61,346)
CASH FLOWS FROM INVESTING ACTIVITIES

Investment in Subsidiary	202,206		30,449		138,648
Net Cash Provided by Investing Activities	202,206		30,449		138,648
CASH FLOWS FROM FINANCING ACTIVITIES





Issuance of Notes Payable	—		205,718		—
Dividends	(106,582)		(96,803)		(77,302)
Net Cash Provided by (Used in) Financing Activities	(106,582)		108,915		(77,302)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	—		—		—
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of Year	—		—		—
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of Year	$	—	$	—	$	—

SUPPLEMENTAL CASH FLOW DISCLOSURE
Accrued Dividends	$	13,734	$	14,642	$	12,288

See notes to parent company only financial statements.