Noncontrolling Interest

6 Months Ended

Jun. 30, 2021

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,
	2021		2020
Subsidiary:
Evercore LP	11	%	11	%
Evercore Wealth Management ("EWM")(1)	25	%	22	%

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 and six months ended June 30, 2021 and 2020 were as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Beginning balance	$	265,089	$	221,294	$	258,428	$	256,534

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	23,570		10,816		44,769		18,521
Other Comprehensive Income (Loss)	169		142		403		(1,767)
Total Comprehensive Income	23,739		10,958		45,172		16,754

Evercore LP Units Exchanged for Class A Shares	(1,033)		(583)		(6,747)		(33,754)

Amortization and Vesting of LP Units	3,011		2,384		6,107		5,695


Other Items:
Distributions to Noncontrolling Interests	(16,748)		(2,941)		(29,642)		(14,009)



Issuance of Noncontrolling Interest	238		510		1,345		540
Purchase of Noncontrolling Interest	—		—		(367)		(138)



Total Other Items	(16,510)		(2,431)		(28,664)		(13,607)

Ending balance	$	274,296	$	231,622	$	274,296	$	231,622

Other Comprehensive Income – Other Comprehensive Income (Loss) attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Securities and Investments, net, of $62 and $68 for the three and six months ended June 30, 2021, respectively, and ($110) and ($251) for the three and six months ended June 30, 2020, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of $107 and $335 for the three and six months ended June 30, 2021, respectively, and $252 and ($1,516) for the three and six months ended June 30, 2020, respectively.

LP Units Exchanged – During the three and six months ended June 30, 2021, 21 and 141 LP Units, respectively, were exchanged for Class A Shares. This resulted in a decrease to Noncontrolling Interest of $1,033 and $6,747 for the three and six months ended June 30, 2021, respectively, and an increase to Additional-Paid-In-Capital of $1,033 and $6,746 for the three and six months ended June 30, 2021, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 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 June 30, 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 settled in cash during the three months ended June 30, 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 June 30, 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 $851 and $852 during the three months ended June 30, 2021 and 2020, respectively). 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.