Noncontrolling Interest

9 Months Ended

Sep. 30, 2025

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.

Noncontrolling ownership interests for the Company's subsidiaries were as follows:


	As of September 30,
	2025		2024

Evercore LP	5	%	6	%
Evercore Wealth Management ("EWM")	27	%	26	%

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

The Company has outstanding Class A LP Units, Class E limited partnership units of Evercore LP ("Class E LP Units"), Class I limited partnership units of Evercore LP ("Class I LP Units") and Class K limited partnership units of Evercore LP ("Class K LP Units"), which give the holders the right to receive Class A Shares upon exchange on a one-for-one basis. See Note 14 for further information.

Changes in Noncontrolling Interest for the three and nine months ended September 30, 2025 and 2024 were as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Beginning balance	$	263,415	$	212,015	$	234,166	$	205,556

Comprehensive Income:
Net Income Attributable to Noncontrolling Interest	12,911		9,701		30,255		25,107
Other Comprehensive Income (Loss)	(334)		995		1,695		630
Total Comprehensive Income	12,577		10,696		31,950		25,737

Evercore LP Units Exchanged for Class A Shares	(11,806)		(6,955)		(22,773)		(15,608)

Amortization and Vesting of LP Units and EWM Class A Units (see Note 15)	20,977		16,158		53,551		31,987


Other Items:
Distributions to Noncontrolling Interests	(8,832)		(9,043)		(22,141)		(25,016)



Issuance of Noncontrolling Interest	—		236		1,617		518
Purchase of Noncontrolling Interest	(117)		—		(156)		(67)



Total Other Items	(8,949)		(8,807)		(20,680)		(24,565)

Ending balance	$	276,214	$	223,107	$	276,214	$	223,107

Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes unrealized gains (losses) on securities and investments, net, of $7 and ($10) for the three and nine months ended September 30, 2025, respectively, and ($6) and ($10) for the three and nine months ended September 30, 2024, respectively, and foreign currency translation adjustment gains (losses), net, of ($341) and $1,705 for the three and nine months ended September 30, 2025, respectively, and $924 and $563 for the three and nine months ended September 30, 2024, respectively.

The redemption of the Company's interest in Luminis in the third quarter of 2024 resulted in the reclassification of $77 of cumulative foreign currency translation losses from Noncontrolling Interest on the Unaudited Condensed Consolidated Statement of Financial Condition to Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024. See Note 8 for further information.

Evercore LP Units – During the three and nine months ended September 30, 2025, 107 and 217 LP Units, respectively, were exchanged for Class A Shares. This resulted in a decrease to Noncontrolling Interest of $11,806 and $22,773 for the three and nine months ended September 30, 2025, respectively, an increase to Class A Common Stock of $1 and $2 for the three and nine months ended September 30, 2025, respectively, and an increase to Additional Paid-In Capital of $11,805 and $22,771 for the three and nine months ended September 30, 2025, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition. See Note 12 for further information.

During the nine months ended September 30, 2025, the Company issued 2 Class A LP Units. This resulted in an increase to Noncontrolling Interest of $517 for the nine months ended September 30, 2025, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025. See Note 12 for further information.

EWM Class A Units – During the second quarter of 2025 and 2024, the Company granted 395 and 297 EWM Class A Units, respectively, which generally vest ratably over three years. Compensation expense related to EWM Class A Units was $724 and $1,798 for the three and nine months ended September 30, 2025, respectively, and $298 and $755 for the three and nine months ended September 30, 2024, respectively.

Interests Issued – During the second quarter of 2025, certain employees of EWM purchased EWM Class A Units, at fair value, resulting in an increase to Noncontrolling Interest of $1,100 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025.

Interests Purchased – During the nine months ended September 30, 2025, the Company purchased, at fair value, an additional 0.1% of the EWM Class A Units for $1,259. The Company has also committed to purchase an additional 0.5% of interests from individuals in equal tranches over the next three years, at fair value at the time of the purchase. These transactions resulted in a decrease to Noncontrolling Interest of $156 and a decrease to Additional Paid-In Capital of $2,788 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025. The Company recorded $770 and $1,319 in Payable to Employees and Related Parties and Other Long-term Liabilities, respectively, on the Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025, reflecting the current fair value of amounts committed to be purchased in the future and accrued distributions related to those interests.

The Company incurred expense of $539 within Interest Expense on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2025 in conjunction with these arrangements.

During the second quarter of 2024, the Company purchased, at fair value, an additional 0.3% of the EWM Class A Units for $1,036. This purchase resulted in a decrease to Noncontrolling Interest of $67 and a decrease to Additional Paid-In Capital of $969 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2024.