Noncontrolling Interest

6 Months Ended

Jun. 30, 2020

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.



	June 30,
	2020		2019
Subsidiary:
Evercore LP	11	%	12	%
Evercore Wealth Management ("EWM")⁽¹⁾	22	%	33	%
Real Estate Capital Advisory ("RECA")⁽²⁾	38	%	38	%

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

(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 and six months ended June 30, 2020 and 2019 were as follows:



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020			2019			2020			2019
Beginning balance	$	221,294		$	238,211		$	256,534		$	249,819

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	10,816			15,515			18,521			26,483
Other Comprehensive Income (Loss)	142			(589		)	(1,767		)	(264		)
Total Comprehensive Income	10,958			14,926			16,754			26,219

Evercore LP Units Exchanged for Class A Shares	(583		)	(754		)	(33,754		)	(11,177		)

Amortization and Vesting of LP Units	2,384			6,610			5,695			12,116

Other Items:
Distributions to Noncontrolling Interests	(2,941		)	(13,712		)	(14,009		)	(31,696		)
Issuance of Noncontrolling Interest	510			2,701			540			2,701
Purchase of Noncontrolling Interest	—			(11,433		)	(138		)	(11,433		)
Total Other Items	(2,431		)	(22,444		)	(13,607		)	(40,428		)

Ending balance	$	231,622		$	236,549		$	231,622		$	236,549

Other Comprehensive Income – Other Comprehensive Income (Loss) attributed to Noncontrolling Interest includes Unrealized Gains (Losses) on Securities and Investments, net, of ($110) and ($251) for the three and six months ended June 30, 2020, respectively, and ($9) and ($98) for the three and six months ended June 30, 2019, respectively, and Foreign Currency Translation Adjustment Gains (Losses), net, of $252 and ($1,516) for the three and six months ended June 30, 2020, respectively, and ($580) and ($166) for the three and six months ended June 30, 2019, respectively.

LP Units Exchanged – During the three and six months ended June 30, 2020, 15 and 806 LP Units, respectively, were exchanged for Class A Shares. This resulted in decreases to Noncontrolling Interest and increases to Additional-Paid-In-Capital of $583 and $33,754 for the three and six months ended June 30, 2020, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2020. See Note 13 for further information.

Interests Purchased – 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 June 30, 2020). 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 June 30, 2020.

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 June 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 June 30, 2019.