Noncontrolling Interest

3 Months Ended

Mar. 31, 2025

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

Noncontrolling ownership interests for the Company's subsidiaries were as follows:


	As of March 31,
	2025		2024

Evercore LP	6	%	6	%
Evercore Wealth Management ("EWM")	26	%	26	%

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

The Company has outstanding Class A LP Units, Class E limited partnership units of Evercore LP ("Class E LP Units"), Class I limited partnership units of Evercore LP ("Class I LP Units") and Class K limited partnership units of Evercore LP ("Class K LP Units"), which give the holders the right to receive Class A Shares upon exchange on a one-for-one basis. See Note 13 for further information.

Changes in Noncontrolling Interest for the three months ended March 31, 2025 and 2024 were as follows:


	For the Three Months Ended March 31,
	2025		2024
Beginning balance	$	234,166	$	205,556

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	7,606		7,431
Other Comprehensive Income (Loss)	639		(299)
Total Comprehensive Income	8,245		7,132

Evercore LP Units Exchanged for Class A Shares	(2,195)		(6,146)

Amortization and Vesting of LP Units and EWM Class A Units (see Note 14)	12,727		6,350


Other Items:
Distributions to Noncontrolling Interests	(8,365)		(9,438)



Issuance of Noncontrolling Interest	517		—




Total Other Items	(7,848)		(9,438)

Ending balance	$	245,095	$	203,454

Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes unrealized gains (losses) on securities and investments, net, of ($17) and ($6) for the three months ended March 31, 2025 and 2024, respectively, and foreign currency translation adjustment gains (losses), net, of $656 and ($293) for the three months ended March 31, 2025 and 2024, respectively.

Evercore LP Units – During the three months ended March 31, 2025, 24 LP Units were exchanged for Class A Shares. This resulted in a decrease to Noncontrolling Interest of $2,195 and an increase to Additional Paid-In Capital of $2,195 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2025. See Note 11 for further information.

During the three months ended March 31, 2025, the Company issued 2 Class A LP Units. This resulted in an increase to Noncontrolling Interest of $517 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2025. See Note 11 for further information.

EWM Class A Units – During the second quarter of 2024, the Company granted 297 EWM Class A Units, which generally vest ratably over three years. Compensation expense related to EWM Class A Units was $238 for the three months ended March 31, 2025.