Noncontrolling Interest

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:



	September 30,
	2018		2017
Subsidiary:
Evercore LP	11	%	13	%
Evercore Wealth Management ("EWM")⁽¹⁾	44	%	43	%
PCA⁽¹⁾	24	%	26	%

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

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 nine months ended September 30, 2018 and 2017 were as follows:



	For the Nine Months Ended September 30,
	2018			2017
Beginning balance	$	252,404		$	256,033

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	36,760			35,740
Other Comprehensive Income	8			1,264
Total Comprehensive Income	36,768			37,004

Evercore LP Units Purchased or Converted into Class A Shares	(42,566		)	(29,393		)

Amortization and Vesting of LP Units/Interests	14,925			7,294

Other Items:
Distributions to Noncontrolling Interests	(30,374		)	(26,315		)
Issuance of Noncontrolling Interest	1,165			8,279
Purchase of Noncontrolling Interest	(1,011		)	(261		)
Other, net	—			(221		)
Total Other Items	(30,220		)	(18,518		)

Ending balance	$	231,311		$	252,420

Other Comprehensive Income - Other Comprehensive Income attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Marketable Securities and Investments, net, of ($2) and ($66) for the three and nine months ended September 30, 2018, respectively, and $5 and $79 for the three and nine months ended September 30, 2017, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of $429 and $74 for the three and nine months ended September 30, 2018, respectively, and $955 and $1,185 for the three and nine months ended September 30, 2017, respectively.

Interests Issued - During the second quarter of 2018, in conjunction with the establishment of the RECA business, certain employees of that business purchased interests, at fair value, in PCA, resulting in an increase to Noncontrolling Interest of $770 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2018. See Note 5 for further information.

During the nine months ended September 30, 2017, the Company issued 111 Class A LP Units as settlement of contingent consideration, resulting in an increase to Noncontrolling Interest of $8,169 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2017.

Interests Purchased - On March 29, 2018, the Company purchased, at fair value, an additional 15% of PCA for $25,525 and on March 3, 2017, the Company purchased, at fair value, an additional 13% of PCA for $7,071. These purchases resulted in a decrease to Noncontrolling Interest of $298 and $261 and a decrease to Additional Paid-In-Capital of $25,227 and $6,810, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2018 and 2017, respectively.

During the nine months ended September 30, 2017, the Company purchased 32 LP Units and certain other rights from noncontrolling interest holders, resulting in a decrease to Noncontrolling Interest of $2,523 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2017.