Noncontrolling Interest

3 Months Ended

Mar. 31, 2021

Noncontrolling InterestNoncontrolling 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, the net income or loss of these entities is allocated based on these special allocations.


	March 31,
	2021		2020
Subsidiary:
Evercore LP	11	%	11	%
Evercore Wealth Management ("EWM")(1)	23	%	21	%

Real Estate Capital Advisory ("RECA")(2)	38	%	38	%

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

(2) 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 months ended March 31, 2021 and 2020 were as follows:


	For the Three Months Ended March 31,
	2021		2020
Beginning balance	$	258,428	$	256,534

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	21,199		7,705
Other Comprehensive Income (Loss)	234		(1,909)
Total Comprehensive Income	21,433		5,796

Evercore LP Units Exchanged for Class A Shares	(5,714)		(33,171)

Amortization and Vesting of LP Units	3,096		3,311


Other Items:
Distributions to Noncontrolling Interests	(12,894)		(11,068)



Issuance of Noncontrolling Interest	1,107		30
Purchase of Noncontrolling Interest	(367)		(138)



Total Other Items	(12,154)		(11,176)

Ending balance	$	265,089	$	221,294

Other Comprehensive Income – Other Comprehensive Income (Loss) attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Securities and Investments, net, of $6 and ($141) for the three months ended March 31, 2021 and 2020, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of $228 and ($1,768) for the three months ended March 31, 2021 and 2020, respectively.

LP Units Exchanged – During the three months ended March 31, 2021, 120 LP Units were exchanged for Class A Shares. This resulted in a decrease to Noncontrolling Interest of $5,714 and an increase to Additional-Paid-In-Capital of $5,713 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2021. See Note 12 for further information.

Interests Issued – During the first quarter of 2021, certain employees of EWM purchased EWM Class A Units, at fair value, resulting in an increase to Noncontrolling Interest of $975 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2021.

Interests Purchased – During the first quarter of 2021, the Company purchased, at fair value, an additional 1% of the EWM Class A Units for $3,170 (which was paid in cash in April 2021 and is included within Other Current Liabilities on the

Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2021). This purchase resulted in a decrease to Noncontrolling Interest of $344 and a decrease to Additional Paid-In-Capital of $2,826 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2021.

During the first quarter of 2020, the Company purchased, at fair value, an additional 1% of the EWM Class A Units for $1,703 (which was paid in cash of $852 during the three months ended June 30, 2020 and through the issuance of notes payable of $851, included within Other Current Liabilities on the Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2021). This purchase resulted in a decrease to Noncontrolling Interest of $138 and a decrease to Additional Paid-In-Capital of $1,565 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2020.