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Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders | Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders The calculations of basic and diluted net income per share attributable to Evercore Partners Inc. common shareholders for the three and nine months ended September 30, 2016 and 2015 are described and presented below.
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Basic Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income attributable to Evercore Partners Inc. common shareholders | $ | 34,695 |  |  | $ | 7,197 |  |  | $ | 64,100 |  |  | $ | 22,261 |
Denominator: |  |  |  |  |  |  |
Weighted average Class A Shares outstanding, including vested restricted stock units ("RSUs") | 38,912 |  |  | 36,773 |  |  | 39,259 |  |  | 36,649 |
Basic net income per share attributable to Evercore Partners Inc. common shareholders | $ | 0.89 |  |  | $ | 0.20 |  |  | $ | 1.63 |  |  | $ | 0.61 |
Diluted Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income attributable to Evercore Partners Inc. common shareholders | $ | 34,695 |  |  | $ | 7,197 |  |  | $ | 64,100 |  |  | $ | 22,261 |
Noncontrolling interest related to the assumed exchange of LP Units for Class A Shares | (a) |  |  | (a) |  |  | (a) |  |  | (a) |
Associated corporate taxes related to the assumed elimination of Noncontrolling Interest described above | (a) |  |  | (a) |  |  | (a) |  |  | (a) |
Diluted net income attributable to Evercore Partners Inc. common shareholders | $ | 34,695 |  |  | $ | 7,197 |  |  | $ | 64,100 |  |  | $ | 22,261 |
Denominator: |  |  |  |  |  |  |
Weighted average Class A Shares outstanding, including vested RSUs | 38,912 |  |  | 36,773 |  |  | 39,259 |  |  | 36,649 |
Assumed exchange of LP Units for Class A Shares | (a) |  |  | (a) |  |  | (a) |  |  | (a) |
Additional shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs and deferred consideration, as calculated using the Treasury Stock Method | 2,108 |  |  | 2,026 |  |  | 1,855 |  |  | 2,029 |
Shares that are contingently issuable (b) | 2,714 |  |  | 2,271 |  |  | 2,971 |  |  | 1,269 |
Assumed conversion of Warrants issued (c) | — |  |  | 3,264 |  |  | — |  |  | 3,153 |
Diluted weighted average Class A Shares outstanding | 43,734 |  |  | 44,334 |  |  | 44,085 |  |  | 43,100 |
Diluted net income per share attributable to Evercore Partners Inc. common shareholders | $ | 0.79 |  |  | $ | 0.16 |  |  | $ | 1.45 |  |  | $ | 0.52 |
(a) | The Company has outstanding LP Units in its subsidiary, Evercore LP, which give the holders the right to receive Class A Shares upon exchange on a one-for-one basis. During the three and nine months ended September 30, 2016 and 2015, the LP Units were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Partners Inc. common shareholders. The units that would have been included in the denominator of the computation of diluted net income per share attributable to Evercore Partners Inc. common shareholders if the effect would have been dilutive were 6,410 and 6,440 for the three and nine months ended September 30, 2016, respectively, and 6,545 and 6,682 for the three and nine months ended September 30, 2015, respectively. The adjustment to the numerator, diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $5,972 and $11,235 for the three and nine months ended September 30, 2016, respectively, and $1,576 and $4,391 for the three and nine months ended September 30, 2015, respectively. In computing this adjustment, the Company assumes that all vested Class A LP Units and all Class E limited partnership units of Evercore LP ("Class E LP Units") are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Partners Inc. and, that it has adopted a conventional corporate tax structure and is taxed as a C Corporation in the U.S. at prevailing corporate tax rates. The Company does not anticipate that the LP Units will result in a dilutive computation in future periods.
(b) | At September 30, 2016 and 2015, the Company has outstanding Class G and H limited partnership interests of Evercore LP ("Class G and H LP Interests") which are contingently exchangeable into Class E LP Units, and ultimately Class A Shares, as they are subject to certain performance thresholds being achieved. See Note 14 for a further discussion. For the purposes of calculating diluted net income per share attributable to Evercore Partners Inc. common shareholders, the Company’s Class G and H LP Interests will be included in diluted weighted average Class A Shares outstanding as of the beginning of the period in which all necessary performance conditions have been satisfied. If all necessary performance conditions have not been satisfied by the end of the period, the number of shares that will be included in diluted weighted average Class A Shares outstanding will be based on the number of shares that would be issuable if the end of the reporting period were the end of the performance period. The interests that were assumed to be converted to an equal number of Class A Shares for purposes of computing diluted EPS were 2,714 and 2,971 for the three and nine months ended September 30, 2016, respectively, and 2,271 and 1,269 for the three and nine months ended September 30, 2015, respectively.
(c) | In November 2015, Mizuho exercised in full its outstanding Warrants to purchase 5,455 Class A Shares, of which the Company repurchased 2,355 shares.
The shares of Class B common stock have no right to receive dividends or a distribution on liquidation or winding up of the Company. The shares of Class B common stock do not share in the earnings of the Company and no earnings are allocable to such class. Accordingly, basic and diluted net income per share of Class B common stock have not been presented.

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