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Noncontrolling Interest

6 Months Ended

Jun. 30, 2016

Noncontrolling Interest [Abstract]

Noncontrolling Interest

Noncontrolling Interest

Noncontrolling Interest recorded in the unaudited condensed consolidated financial statements of the Company relates to a 14% interest in Evercore LP, a 38% interest in Evercore Wealth Management ("EWM"), a 39% interest in Evercore Private Capital Advisory L.P. ("PCA"), a 34% equity interest in Atalanta Sosnoff (through December 31, 2015, the date it was deconsolidated), a 28% interest in ECB (through January 29, 2016, the date all of the noncontrolling interest was repurchased by the Company) and other private equity partnerships. The Noncontrolling Interests for Evercore LP, EWM and PCA have rights, in certain circumstances, to convert into Class A Shares.

Changes in Noncontrolling Interest for the six months ended June 30, 2016 and 2015 were as follows:

	For the Six Months Ended June 30,
	2016				2015
Beginning balance	$	202,664			$	160,952
Comprehensive income (loss):
Net Income Attributable to Noncontrolling Interest	11,866				7,215
Other comprehensive income (loss)	(1,848		)		(681		)
Total comprehensive income	10,018				6,534
Evercore LP Units Purchased or Converted into Class A Shares	(6,192		)		(3,793		)
Amortization and Vesting of LP Units/Interests	52,498				43,400
Other Items:
Distributions to Noncontrolling Interests	(17,193		)		(10,291		)
Issuance of Noncontrolling Interest	885				307
Purchase of Noncontrolling Interest	(5,225		)		—
Other, net	(281		)		—
Total other items	(21,814		)		(9,984		)
Ending balance	$	237,174			$	197,109

Other Comprehensive Income - Other comprehensive income (loss) attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Marketable Securities and Investments, net, of $370 and ($367) for the three and six months ended June 30, 2016, respectively, and ($131) and ($327) for the three and six months ended June 30, 2015, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($1,097) and ($1,481) for the three and six months ended June 30, 2016, respectively, and $327 and ($354) for the three and six months ended June 30, 2015, respectively.

Atalanta Sosnoff - On December 31, 2015, the Company deconsolidated the assets and liabilities of Atalanta Sosnoff, as well as its related redeemable noncontrolling interests.

Interests Purchased - On January 29, 2016, the Company purchased, at fair value, all of the noncontrolling interest in ECB for $6,482.

EMP III - On July 19, 2016, the Company and the principals of its Mexican Private Equity business entered into an agreement to transfer ownership of its Mexican Private Equity business and related entities to Glisco. Upon the closing of this transaction, which is anticipated by the end of 2016, the Company will deconsolidate the noncontrolling interest in EMP III. See Note 8 for further information.

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

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X

- References

No definition available.

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