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Special Charges, Including Business Realignment Costs, and Intangible Asset Amortization | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Special Charges, Including Business Realignment Costs and Intangible Asset Amortization [Text Block] | Special Charges, Including Business Realignment Costs, and Intangible Asset Amortization Special Charges, Including Business Realignment Costs The Company recognized $8,558 and $32,234 for the three and six months ended June 30, 2020, respectively, as Special Charges, Including Business Realignment Costs. For the three and six months ended June 30, 2020, these costs include $8,178 and $30,305, respectively, for separation and transition benefits and related costs as a result of the Company's review of its operations, described below, and $380 and $1,929, respectively, for the acceleration of depreciation expense for leasehold improvements and certain other fixed assets in conjunction with the expansion of the Company's headquarters in New York and the Company's business realignment initiatives. In the first quarter of 2020, the Company substantially completed a review of operations focused on markets, sectors and people which have delivered lower levels of productivity in an effort to attain greater flexibility of operations and better position itself for future growth. This review, which began in the fourth quarter of 2019, will generate reductions of approximately 6% of the Company's headcount. In conjunction with the employment reductions, the Company is expected to incur aggregate separation and transition benefits (including costs related to the acceleration of deferred compensation) and related costs of approximately $38,000, $30,305 of which has been recorded in Special Charges, Including Business Realignment Costs, in the first six months of 2020. The Company's estimates of charges are based on a number of assumptions. Actual results may differ materially if actual activity deviates from these assumptions. Further, in conjunction with its business realignment initiatives, in April 2020, the Company entered into an agreement for the leaders of its business in Mexico to purchase Evercore Casa de Bolsa, S.A. de C.V. ("ECB"), the Company's Mexico based broker-dealer focused principally on providing Investment Management services, for a purchase price of MXN $35,000. This sale will be completed following regulatory approval. The Company recognized $1,029 and $2,058 for the three and six months ended June 30, 2019, respectively, as Special Charges, Including Business Realignment Costs, incurred related to the acceleration of depreciation expense for leasehold improvements in conjunction with the expansion of the Company's headquarters in New York. Intangible Asset Amortization Expense associated with the amortization of intangible assets for Investment Banking was $507 and $1,014 for the three and six months ended June 30, 2020, respectively, and $2,190 and $4,380 for the three and six months ended June 30, 2019, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations. Expense associated with the amortization of intangible assets for Investment Management was $105 and $213 for the three and six months ended June 30, 2020, respectively, and $109 and $219 for the three and six months ended June 30, 2019, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations.

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- Definition The entire description for costs incurred to effect business combinations that have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, expenses incurred with the exiting of lease commitments, and severance and other employee-related costs, as well as costs for the amortization of intangible assets. + References No definition available. + Details
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- References No definition available. + Details
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