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Notes Payable | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Notes Payable | Notes Payable On March 30, 2016, the Company issued an aggregate of $170,000 of senior notes, including: $38,000 aggregate principal amount of its 4.88% Series A senior notes which were due March 30, 2021 (the "Series A Notes"), $67,000 aggregate principal amount of its 5.23% Series B senior notes which were originally due March 30, 2023 ("Series B Notes"), $48,000 aggregate principal amount of its 5.48% Series C senior notes due March 30, 2026 (the "Series C Notes") and $17,000 aggregate principal amount of its 5.58% Series D senior notes due March 30, 2028 (the "Series D Notes" and together with the Series A Notes, the Series B Notes and the Series C Notes, the "2016 Private Placement Notes"), pursuant to a note purchase agreement (the "2016 Note Purchase Agreement") dated as of March 30, 2016, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933. On August 1, 2019, the Company issued $175,000 and £25,000 of senior unsecured notes through private placement. These notes reflect a weighted average life of 12 years and a weighted average stated interest rate of 4.26%. These notes include: $75,000 aggregate principal amount of its 4.34% Series E senior notes due August 1, 2029 (the "Series E Notes"), $60,000 aggregate principal amount of its 4.44% Series F senior notes due August 1, 2031 (the "Series F Notes"), $40,000 aggregate principal amount of its 4.54% Series G senior notes due August 1, 2033 (the "Series G Notes") and £25,000 aggregate principal amount of its 3.33% Series H senior notes due August 1, 2033 (the "Series H Notes" and together with the Series E Notes, the Series F Notes and the Series G Notes, the "2019 Private Placement Notes"), each of which were issued pursuant to a note purchase agreement dated as of August 1, 2019 (the "2019 Note Purchase Agreement"), among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933. On March 29, 2021, the Company issued $38,000 aggregate principal amount of its 1.97% Series I senior notes due August 1, 2025 (the "Series I Notes" or the "2021 Private Placement Notes"), pursuant to a note purchase agreement (the "2021 Note Purchase Agreement") dated as of March 29, 2021, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933. On June 28, 2022, the Company issued $67,000 aggregate principal amount of its 4.61% Series J senior notes due November 15, 2028 (the "Series J Notes" or the "2022 Private Placement Notes"), pursuant to a note purchase agreement (the "2022 Note Purchase Agreement") dated as of June 28, 2022, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933. Interest on the above issuances is payable semi-annually and the notes are guaranteed by certain of the Company's domestic subsidiaries. The Company may, at its option, prepay all, or from time to time any part of, the notes (without regard to Series), in an amount not less than 5% of the aggregate principal amount of each of the individual issuances then outstanding at 100% of the principal amount thereof plus an applicable "make-whole amount." Upon the occurrence of a change of control, the holders of the notes will have the right to require the Company to prepay the entire unpaid principal amounts held by each holder of the notes plus accrued and unpaid interest to the prepayment date. The respective Note Purchase Agreements contain customary covenants, including financial covenants requiring compliance with a maximum leverage ratio, a minimum tangible net worth and a minimum interest coverage ratio (for the 2016 Private Placement Notes only), and customary events of default. As of September 30, 2024, the Company was in compliance with all of these covenants. Notes Payable is comprised of the following as of September 30, 2024 and December 31, 2023:
|  |  |  |  |  | Carrying Value(1)
Note |  | Maturity Date |  | Effective Annual Interest Rate |  | September 30, 2024 |  | December 31, 2023
Evercore Inc. 5.48% Series C Senior Notes |  | 3/30/2026 |  | 5.64 | % |  | $ | 47,890 |  |  | $ | 47,838 |
Evercore Inc. 5.58% Series D Senior Notes |  | 3/30/2028 |  | 5.72 | % |  | 16,924 |  |  | 16,910 |
Evercore Inc. 4.34% Series E Senior Notes |  | 8/1/2029 |  | 4.46 | % |  | 74,600 |  |  | 74,546 |
Evercore Inc. 4.44% Series F Senior Notes |  | 8/1/2031 |  | 4.55 | % |  | 59,623 |  |  | 59,589 |
Evercore Inc. 4.54% Series G Senior Notes |  | 8/1/2033 |  | 4.64 | % |  | 39,722 |  |  | 39,703 |
Evercore Inc. 3.33% Series H Senior Notes |  | 8/1/2033 |  | 3.42 | % |  | 33,216 |  |  | 31,597 |
Evercore Inc. 1.97% Series I Senior Notes |  | 8/1/2025 |  | 2.20 | % |  | 37,929 |  |  | 37,867 |
Evercore Inc. 4.61% Series J Senior Notes |  | 11/15/2028 |  | 5.02 | % |  | 65,996 |  |  | 65,835 |
Total |  |  |  |  |  | $ | 375,900 |  |  | $ | 373,885 |
Less: Current Portion of Notes Payable |  |  |  |  |  | (37,929) |  |  | — |
Notes Payable |  |  |  |  |  | $ | 337,971 |  |  | $ | 373,885 |
(1)Carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct reduction from the related liability.

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