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Net Income Per Share Attributable to Evercore Inc. Common Shareholders
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Income Per Share Attributable to Evercore Inc. Common Shareholders Net Income Per Share Attributable to Evercore Inc. Common Shareholders
The calculations of basic and diluted net income per share attributable to Evercore Inc. common shareholders for the three and six months ended June 30, 2024 and 2023 are described and presented below.
 For the Three Months Ended June 30, For the Six Months Ended June 30,
 2024202320242023
Basic Net Income Per Share Attributable to Evercore Inc. Common Shareholders
Numerator:
Net income attributable to Evercore Inc. common shareholders$73,758 $37,205 $159,451 $120,583 
Denominator:
Weighted average Class A Shares outstanding, including vested RSUs38,502 38,211 38,470 38,360 
Basic net income per share attributable to Evercore Inc. common shareholders$1.92 $0.97 $4.14 $3.14 
Diluted Net Income Per Share Attributable to Evercore Inc. Common Shareholders
Numerator:
Net income attributable to Evercore Inc. common shareholders$73,758 $37,205 $159,451 $120,583 
Noncontrolling interest related to the assumed exchange of LP Units for Class A Shares(1)
— — — — 
Associated corporate taxes related to the assumed elimination of Noncontrolling Interest described above(1)
— — — — 
Diluted net income attributable to Evercore Inc. common shareholders
$73,758 $37,205 $159,451 $120,583 
Denominator:
Weighted average Class A Shares outstanding, including vested RSUs38,502 38,211 38,470 38,360 
Assumed exchange of LP Units for Class A Shares(1)
— — — — 
Additional shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method(2)
2,180 1,029 2,333 1,419 
Shares that are contingently issuable(3)
175 48 166 84 
Diluted weighted average Class A Shares outstanding40,857 39,288 40,969 39,863 
Diluted net income per share attributable to Evercore Inc. common shareholders$1.81 $0.95 $3.89 $3.02 
(1)The Company has outstanding Class A, E, I and K LP Units, which give the holders the right to receive Class A Shares upon exchange on a one-for-one basis. During the three and six months ended June 30, 2024 and 2023, these LP Units were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc. common shareholders. The units that would have been included in the denominator of the computation of diluted net income per share attributable to Evercore Inc. common shareholders if the effect would have been dilutive were 2,557 and 2,583 for the three and six months ended June 30, 2024, respectively, and 2,815 and 2,785 for the three and six months ended June 30, 2023, respectively. The adjustment to the numerator, diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $5,014 and $11,226 for the three and six months ended June 30, 2024, respectively, and $2,918 and $9,905 for the three and six months ended June 30, 2023, respectively. In computing this adjustment, the Company assumes that all Class A, E, I and K LP Units are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Inc. and that the Company is subject to the statutory tax rates of a C-Corporation under a conventional corporate tax structure in the U.S. at prevailing corporate tax rates. The Company does not anticipate that the Class A, E, I and K LP Units will result in a dilutive computation in future periods.
(2)During the three and six months ended June 30, 2023, certain shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method, were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc. common shareholders. The shares that would have been included in the treasury stock method calculation if the effect would have been dilutive were 3,080 and 1,775 for the three and six months ended June 30, 2023, respectively.
(3)The Company has outstanding Class K-P units of Evercore LP ("Class K-P Units") which are contingently exchangeable into Class K LP Units, and ultimately Class A Shares, as they are subject to certain performance thresholds being achieved. The Company also has certain outstanding RSUs which vest contingent upon certain performance thresholds being achieved. See Note 14 for further information. For the purposes of calculating diluted net income per share attributable to Evercore Inc. common shareholders, these units are included in diluted weighted average Class A Shares outstanding, as calculated using the Treasury Stock Method, as of the beginning of the period in which all necessary performance conditions have been satisfied. If all necessary performance conditions have not been satisfied by the end of the period, the number of shares that are included in diluted weighted average Class A Shares outstanding is based on the number of shares that would be issuable if the end of the reporting period were the end of the performance period.
The shares of Class B common stock have no right to receive dividends or a distribution on liquidation or winding up of the Company. The shares of Class B common stock do not share in the earnings of the Company and no earnings are allocable to such class. Accordingly, basic and diluted net income per share of Class B common stock have not been presented.