Noncontrolling Interest

9 Months Ended

Sep. 30, 2021

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. In circumstances where the governing documents of the entity to which the noncontrolling interest relates require special allocations of profits or losses to the controlling and noncontrolling interest holders, the net income or loss of these entities is allocated based on these special allocations.


	September 30,
	2021		2020
Subsidiary:
Evercore LP	11	%	11	%
Evercore Wealth Management ("EWM")(1)	26	%	24	%

Real Estate Capital Advisory ("RECA")(2)	40	%	38	%

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

(2) Noncontrolling Interests represent the Class R Interests of Private Capital Advisory L.P.

The Noncontrolling Interests for Evercore LP, EWM and RECA have rights, in certain circumstances, to convert into Class A Shares.

Changes in Noncontrolling Interest for the three and nine months ended September 30, 2021 and 2020 were as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Beginning balance	$	274,296	$	231,622	$	258,428	$	256,534

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	29,577		8,510		74,346		27,031
Other Comprehensive Income (Loss)	(1,109)		986		(706)		(781)
Total Comprehensive Income	28,468		9,496		73,640		26,250

Evercore LP Units Exchanged for Class A Shares	(13)		(8)		(6,760)		(33,762)

Amortization and Vesting of LP Units	2,946		4,231		9,053		9,926


Other Items:
Distributions to Noncontrolling Interests	(16,126)		(9,253)		(45,768)		(23,262)



Issuance of Noncontrolling Interest	1,072		—		2,417		540
Purchase of Noncontrolling Interest	—		—		(367)		(138)



Total Other Items	(15,054)		(9,253)		(43,718)		(22,860)

Ending balance	$	290,643	$	236,088	$	290,643	$	236,088

Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Securities and Investments, net, of ($125) and ($57) for the three and nine months ended September 30, 2021, respectively, and ($3) and ($254) for the three and nine months ended September 30, 2020, respectively, and Foreign

Currency Translation Adjustment Gain (Loss), net, of ($984) and ($649) for the three and nine months ended September 30, 2021, respectively, and $989 and ($527) for the three and nine months ended September 30, 2020, respectively.

LP Units Exchanged – During the three and nine months ended September 30, 2021, 0.3 and 141 LP Units, respectively, were exchanged for Class A Shares. This resulted in a decrease to Noncontrolling Interest of $13 and $6,760 for the three and nine months ended September 30, 2021, respectively, and an increase to Additional-Paid-In-Capital of $13 and $6,759 for the three and nine months ended September 30, 2021, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2021. See Note 12 for further information.

Interests Issued – During the first quarter and third quarter of 2021, certain employees of EWM purchased EWM Class A Units, at fair value, resulting in an increase to Noncontrolling Interest of $975 and $200, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2021.

During the third quarter of 2021, certain employees of RECA purchased Class R Interests of Private Capital Advisory L.P., at fair value, resulting in an increase to Noncontrolling Interest of $872 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2021.

Interests Purchased – During the first quarter of 2021, the Company purchased, at fair value, an additional 1% of the EWM Class A Units for $3,170, which was settled in cash during the nine months ended September 30, 2021. This purchase resulted in a decrease to Noncontrolling Interest of $344 and a decrease to Additional Paid-In-Capital of $2,826 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2021.

During the first quarter of 2020, the Company purchased, at fair value, an additional 1% of the EWM Class A Units for $1,703 (which was paid in cash of $851 and $852 during the nine months ended September 30, 2021 and 2020, respectively). This purchase resulted in a decrease to Noncontrolling Interest of $138 and a decrease to Additional Paid-In-Capital of $1,565 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2020.