XML 55 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues        
Investment Banking Revenue $ 192,251 $ 183,454 $ 320,755 $ 314,837
Investment Management Revenue 26,801 25,089 48,716 46,526
Other Revenue, Including Interest 2,622 1,428 4,691 4,532
Total Revenues 221,674 209,971 374,162 365,895
Interest Expense 3,978 3,174 7,353 6,467
Net Revenues 217,696 [1] 206,797 [1] 366,809 [1] 359,428 [1]
Expenses        
Employee Compensation and Benefits 129,346 131,377 220,738 233,386
Occupancy and Equipment Rental 10,138 8,178 19,622 16,915
Professional Fees 11,988 9,288 20,499 17,133
Travel and Related Expenses 10,098 8,272 17,482 15,450
Communications and Information Services 3,922 3,363 7,295 6,782
Depreciation and Amortization 3,537 3,591 7,358 7,148
Acquisition and Transition Costs 1,016 0 1,116 58
Other Operating Expenses 4,616 4,547 8,950 8,125
Total Expenses 174,661 168,616 303,060 304,997
Income Before Income from Equity Method Investments and Income Taxes 43,035 38,181 63,749 54,431
Income from Equity Method Investments 2,038 1,015 2,279 1,771
Income Before Income Taxes 45,073 39,196 66,028 56,202
Provision for Income Taxes 15,387 17,130 22,950 24,865
Net Income from Continuing Operations 29,686 22,066 43,078 31,337
Discontinued Operations        
Income (Loss) from Discontinued Operations 0 (119) 0 (1,425)
Provision (Benefit) for Income Taxes 0 (64) 0 (477)
Net Income (Loss) from Discontinued Operations 0 (55) 0 (948)
Net Income 29,686 22,011 43,078 30,389
Net Income Attributable to Noncontrolling Interest 5,421 5,585 8,245 7,994
Net Income Attributable to Evercore Partners Inc. 24,265 16,426 34,833 22,395
Net Income (Loss) Attributable to Evercore Partners Inc. Common Shareholders:        
From Continuing Operations 24,265 16,437 34,833 22,894
From Discontinued Operations 0 (32) 0 (541)
Net Income Attributable to Evercore Partners Inc. Common Shareholders $ 24,265 $ 16,405 $ 34,833 $ 22,353
Weighted Average Shares of Class A Common Stock Outstanding        
Basic (in shares) 35,744 31,811 35,208 31,836
Diluted (in shares) 41,860 37,501 41,781 37,738
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders:        
From Continuing Operations (in dollars per share) $ 0.68 $ 0.52 $ 0.99 $ 0.72
From Discontinued Operations (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ (0.02)
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders (in dollars per share) $ 0.68 $ 0.52 $ 0.99 $ 0.70
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders:        
From Continuing Operations (in dollars per share) $ 0.58 $ 0.44 $ 0.83 $ 0.61
From Discontinued Operations (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ (0.02)
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders (in dollars per share) $ 0.58 $ 0.44 $ 0.83 $ 0.59
Dividends declared per share of Class A common stock $ 0.25 $ 0.22 $ 0.5 $ 0.44
[1] Net revenues include Other Revenue, net, allocated to the segments as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2014 2013 2014 2013Investment Banking (A)$(928) $(849) $(1,581) $(636)Investment Management (B)(428) (897) (1,081) (1,299)Total Other Revenue, net$(1,356) $(1,746) $(2,662) $(1,935) (A)Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $1,105 and $2,210 for the three and six months ended June 30, 2014, respectively, and $1,095 and $2,183 for the three and six months ended June 30, 2013, respectively.(B)Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $932 and $1,864 for the three and six months ended June 30, 2014, respectively, and $924 and $1,843 for the three and six months ended June 30, 2013, respectively.