Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 | Feb. 19, 2014 | Feb. 19, 2014 |
Class A [Member] | Class B [Member] | |||
Document Information [Line Items] | ' | ' | ' | ' |
Document Type | '10-K | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' |
Trading Symbol | 'EVR | ' | ' | ' |
Entity Registrant Name | 'EVERCORE PARTNERS INC. | ' | ' | ' |
Entity Central Index Key | '0001360901 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 34,699,290 | 32 |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Public Float | ' | $1.20 | ' | ' |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Current Assets | ' | ' | |
Cash and Cash Equivalents | $298,453 | $259,431 | |
Marketable Securities | 43,407 | 36,545 | |
Financial Instruments Owned and Pledged as Collateral at Fair Value | 56,311 | 120,594 | |
Securities Purchased Under Agreements to Resell | 19,134 | 0 | |
Accounts Receivable (net of allowances of $2,436 and $3,886 at December 31, 2013 and 2012, respectively) | 83,347 | 89,098 | |
Receivable from Employees and Related Parties | 9,233 | 5,166 | |
Deferred Tax Assets - Current | 11,271 | 9,214 | |
Other Current Assets | 16,703 | 6,699 | |
Total Current Assets | 537,859 | 526,747 | |
Investments | 114,084 | 110,897 | |
Deferred Tax Assets - Non-Current | 251,613 | 229,449 | |
Furniture, Equipment and Leasehold Improvements (net of accumulated depreciation and amortization of $25,992 and $19,880 at December 31, 2013 and 2012, respectively) | 27,832 | 29,777 | |
Goodwill | 189,274 | [1] | 188,684 |
Intangible Assets (net of accumulated amortization of $27,538 and $20,002 at December 31, 2013 and 2012, respectively) | 26,731 | 35,397 | |
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 | |
Other Assets | 23,190 | 14,067 | |
Total Assets | 1,180,783 | 1,145,218 | |
Current Liabilities | ' | ' | |
Accrued Compensation and Benefits | 157,856 | 138,187 | |
Accounts Payable and Accrued Expenses | 18,365 | 17,909 | |
Securities Sold Under Agreements to Repurchase | 75,563 | 120,787 | |
Payable to Employees and Related Parties | 19,524 | 12,964 | |
Taxes Payable | 4,713 | 20,304 | |
Other Current Liabilities | 8,138 | 10,755 | |
Total Current Liabilities | 284,159 | 320,906 | |
Notes Payable | 103,226 | 101,375 | |
Amounts Due Pursuant to Tax Receivable Agreements | 175,771 | 165,350 | |
Other Long-term Liabilities | 17,664 | 17,111 | |
Total Liabilities | 580,820 | 604,742 | |
Commitments and Contingencies (Note 18) | ' | ' | |
Redeemable Noncontrolling Interest | 36,805 | 49,727 | |
Evercore Partners Inc. Stockholders' Equity | ' | ' | |
Additional Paid-In-Capital | 799,233 | 654,275 | |
Accumulated Other Comprehensive Income (Loss) | -10,784 | -9,086 | |
Retained Earnings (Deficit) | -59,896 | -77,079 | |
Treasury Stock at Cost (7,702,900 and 5,463,515 shares at December 31, 2013 and 2012, respectively) | -226,380 | -139,954 | |
Total Evercore Partners Inc. Stockholders' Equity | 502,581 | 428,506 | |
Noncontrolling Interest | 60,577 | 62,243 | |
Total Equity | 563,158 | 490,749 | |
Total Liabilities and Equity | 1,180,783 | 1,145,218 | |
Class A [Member] | ' | ' | |
Evercore Partners Inc. Stockholders' Equity | ' | ' | |
Common Stock | 408 | 350 | |
Class B [Member] | ' | ' | |
Evercore Partners Inc. Stockholders' Equity | ' | ' | |
Common Stock | $0 | $0 | |
[1] | The balance includes the net effect of the goodwill related to the consolidation and disposition of Pan. |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Financial Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts Receivable, allowances | $2,436 | $3,886 |
Furniture, Equipment and Leasehold Improvements, accumulated depreciation and amortization | 25,992 | 19,880 |
Intangible Assets, accumulated amortization | $27,538 | $20,002 |
Treasury Stock at Cost, shares | 7,702,900 | 5,463,515 |
Class A [Member] | ' | ' |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, shares issued | 40,772,434 | 35,040,501 |
Common Stock, shares outstanding | 33,069,534 | 29,576,986 |
Class B [Member] | ' | ' |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 1,000,000 | 1,000,000 |
Common Stock, shares issued | 42 | 43 |
Common Stock, shares outstanding | 42 | 43 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenues | ' | ' | ' | |||
Investment Banking Revenue | $666,806 | $568,238 | $430,597 | |||
Investment Management Revenue | 95,759 | 79,790 | 99,161 | |||
Other Revenue, Including Interest | 16,868 | 9,646 | 13,897 | |||
Total Revenues | 779,433 | 657,674 | 543,655 | |||
Interest Expense | 14,005 | 15,301 | 19,391 | |||
Net Revenues | 765,428 | [1] | 642,373 | [1] | 524,264 | [1] |
Expenses | ' | ' | ' | |||
Employee Compensation and Benefits | 485,794 | 430,415 | 357,680 | |||
Occupancy and Equipment Rental | 34,708 | 34,673 | 23,497 | |||
Professional Fees | 36,450 | 35,506 | 33,516 | |||
Travel and Related Expenses | 31,937 | 28,473 | 23,172 | |||
Communications and Information Services | 13,373 | 11,445 | 8,303 | |||
Depreciation and Amortization | 14,537 | 16,834 | 17,746 | |||
Special Charges | 170 | 662 | 3,894 | |||
Acquisition and Transition Costs | 58 | 840 | 3,465 | |||
Other Operating Expenses | 18,226 | 17,990 | 17,179 | |||
Total Expenses | 635,253 | 576,838 | 488,452 | |||
Income Before Income from Equity Method Investments and Income Taxes | 130,175 | 65,535 | 35,812 | |||
Income from Equity Method Investments | 8,326 | 4,852 | 919 | |||
Income Before Income Taxes | 138,501 | 70,387 | 36,731 | |||
Provision for Income Taxes | 63,689 | 30,908 | 22,724 | |||
Net Income from Continuing Operations | 74,812 | 39,479 | 14,007 | |||
Discontinued Operations | ' | ' | ' | |||
Income (Loss) from Discontinued Operations | -4,260 | 0 | -4,198 | |||
Provision (Benefit) for Income Taxes | -1,470 | 0 | -722 | |||
Net Income (Loss) from Discontinued Operations | -2,790 | 0 | -3,476 | |||
Net Income | 72,022 | 39,479 | 10,531 | |||
Net Income Attributable to Noncontrolling Interest | 18,760 | 10,590 | 3,579 | |||
Net Income Attributable to Evercore Partners Inc. | 53,262 | 28,889 | 6,952 | |||
Net Income (Loss) Attributable to Evercore Partners Inc. Common Shareholders: | ' | ' | ' | |||
From Continuing Operations | 54,799 | 28,805 | 7,834 | |||
From Discontinued Operations | -1,605 | 0 | -966 | |||
Net Income Attributable to Evercore Partners Inc. Common Shareholders | $53,194 | $28,805 | $6,868 | |||
Weighted Average Shares of Class A Common Stock Outstanding | ' | ' | ' | |||
Basic (in shares) | 32,208 | 29,275 | 26,019 | |||
Diluted (in shares) | 38,481 | 32,548 | 29,397 | |||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ' | ' | ' | |||
From Continuing Operations (in dollars per share) | $1.70 | $0.98 | $0.30 | |||
From Discontinued Operations (in dollars per share) | ($0.05) | $0 | ($0.04) | |||
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders (in dollars per share) | $1.65 | $0.98 | $0.26 | |||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ' | ' | ' | |||
From Continuing Operations (in dollars per share) | $1.42 | $0.89 | $0.27 | |||
From Discontinued Operations (in dollars per share) | ($0.04) | $0 | ($0.04) | |||
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders (in dollars per share) | $1.38 | $0.89 | $0.23 | |||
Dividends declared per share of Class A common stock | $0.91 | $0.82 | $0.74 | |||
[1] | Net revenues include Other Revenue, net, allocated to the segments as follows:B For the Years Ended December 31,B 2013B 2012B 2011Investment Banking (A)$3,979B $(3,019)B $(2,473)Investment Management (B)(1,116)B (2,636)B (3,021)Total Other Revenue, net$2,863B $(5,655)B $(5,494)B (A)Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013.(B)Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net Income | $72,022 | $39,479 | $10,531 |
Other Comprehensive Income (Loss), net of tax: | ' | ' | ' |
Unrealized Gain (Loss) on Marketable Securities, net | -1,236 | 454 | -1,964 |
Foreign Currency Translation Adjustment Gain (Loss), net | -690 | 3,787 | -8,119 |
Other Comprehensive Income (Loss) | -1,926 | 4,241 | -10,083 |
Comprehensive Income | 70,096 | 43,720 | 448 |
Comprehensive Income Attributable to Noncontrolling Interest | 18,532 | 11,859 | 1,361 |
Comprehensive Income (Loss) Attributable to Evercore Partners Inc. | $51,564 | $31,861 | ($913) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (USD $) | Total | Additional Paid-In Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings (Deficit) [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Class A [Member] | Class A [Member] |
In Thousands, except Share data, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Common Stock [Member] | |
USD ($) | ||||||||
Beginning Balance, Value at Dec. 31, 2010 | $367,241 | $400,719 | ($4,193) | ($61,504) | ($34,538) | $66,542 | ' | $215 |
Beginning Balance, Shares at Dec. 31, 2010 | ' | ' | ' | ' | -1,514,045 | ' | ' | -21,497,691 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | 10,531 | ' | ' | 6,952 | ' | 3,579 | ' | ' |
Other Comprehensive Income (Loss) | -10,083 | ' | -7,865 | ' | ' | -2,218 | ' | ' |
Treasury Stock Purchases | -45,105 | ' | ' | ' | -45,105 | ' | ' | ' |
Treasury Stock Purchases, Shares | ' | ' | ' | ' | -1,586,780 | ' | ' | ' |
Proceeds from Equity Offering, Net of Direct Expenses | 167,934 | 167,880 | ' | ' | ' | ' | ' | 54 |
Proceeds from Equity Offering, Net of Direct Expenses, Shares | ' | ' | ' | ' | ' | ' | ' | 5,364,991 |
Evercore LP Units Purchased or Converted into Class A Common Stock | -79,528 | -67,264 | ' | ' | ' | -12,268 | ' | 4 |
Evercore LP Units Purchased or Converted into Class A Common Stock, Shares | ' | ' | ' | ' | ' | ' | ' | 422,843 |
Equity-based Compensation Awards | 88,489 | 67,395 | ' | ' | ' | 21,057 | ' | 37 |
Equity-based Compensation Awards, Shares | ' | ' | ' | ' | ' | ' | ' | 3,728,740 |
Shares Issued as Consideration for Acquisitions and Investments | 636 | ' | ' | ' | 636 | ' | ' | ' |
Shares Issued as Consideration for Acquisitions and Investments, Shares | ' | ' | ' | ' | 27,867 | ' | ' | ' |
Dividends and Equivalents | -19,346 | 2,805 | ' | -22,151 | ' | ' | ' | ' |
Noncontrolling Interest | -14,943 | 3,587 | ' | ' | ' | -18,530 | ' | ' |
Ending Balance, Value at Dec. 31, 2011 | 465,826 | 575,122 | -12,058 | -76,703 | -79,007 | 58,162 | ' | 310 |
Ending Balance, Shares at Dec. 31, 2011 | ' | ' | ' | ' | -3,072,958 | ' | ' | -31,014,265 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | 39,479 | ' | ' | 28,889 | ' | 10,590 | ' | ' |
Other Comprehensive Income (Loss) | 4,241 | ' | 2,972 | ' | ' | 1,269 | ' | ' |
Treasury Stock Purchases | -66,588 | ' | ' | ' | -66,588 | ' | ' | ' |
Treasury Stock Purchases, Shares | ' | ' | ' | ' | -2,610,505 | ' | ' | ' |
Evercore LP Units Purchased or Converted into Class A Common Stock | 6,653 | 16,499 | ' | ' | ' | -9,867 | ' | 21 |
Evercore LP Units Purchased or Converted into Class A Common Stock, Shares | ' | ' | ' | ' | ' | ' | ' | 2,107,753 |
Equity-based Compensation Awards | 100,639 | 78,923 | ' | ' | ' | 21,697 | ' | 19 |
Equity-based Compensation Awards, Shares | ' | ' | ' | ' | ' | ' | ' | 1,918,483 |
Shares Issued as Consideration for Acquisitions and Investments | 8,259 | 2,618 | ' | ' | 5,641 | ' | ' | ' |
Shares Issued as Consideration for Acquisitions and Investments, Shares | ' | ' | ' | ' | 219,948 | ' | ' | ' |
Dividends and Equivalents | -24,296 | 4,969 | ' | -29,265 | ' | ' | ' | ' |
Noncontrolling Interest | -43,464 | -23,856 | ' | ' | ' | -19,608 | ' | ' |
Ending Balance, Value at Dec. 31, 2012 | 490,749 | 654,275 | -9,086 | -77,079 | -139,954 | 62,243 | ' | 350 |
Ending Balance, Shares at Dec. 31, 2012 | ' | ' | ' | ' | -5,463,515 | ' | -29,576,986 | -35,040,501 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | 72,022 | ' | ' | 53,262 | ' | 18,760 | ' | ' |
Other Comprehensive Income (Loss) | -1,926 | ' | -1,698 | ' | ' | -228 | ' | ' |
Treasury Stock Purchases | -87,620 | ' | ' | ' | -87,620 | ' | ' | ' |
Treasury Stock Purchases, Shares | ' | ' | ' | ' | -2,281,326 | ' | ' | ' |
Evercore LP Units Purchased or Converted into Class A Common Stock | 7,601 | 28,986 | ' | ' | ' | -21,414 | ' | 29 |
Evercore LP Units Purchased or Converted into Class A Common Stock, Shares | ' | ' | ' | ' | ' | ' | ' | 2,913,266 |
Equity-based Compensation Awards | 120,517 | 100,058 | ' | ' | 65 | 20,365 | ' | 29 |
Equity-based Compensation Awards, Shares | ' | ' | ' | ' | 2,600 | ' | ' | 2,818,667 |
Shares Issued as Consideration for Acquisitions and Investments | 1,494 | 365 | ' | ' | 1,129 | ' | ' | ' |
Shares Issued as Consideration for Acquisitions and Investments, Shares | ' | ' | ' | ' | 39,341 | ' | ' | ' |
Dividends and Equivalents | -30,090 | 5,989 | ' | -36,079 | ' | ' | ' | ' |
Noncontrolling Interest | -9,589 | 9,560 | ' | ' | ' | -19,149 | ' | ' |
Ending Balance, Value at Dec. 31, 2013 | $563,158 | $799,233 | ($10,784) | ($59,896) | ($226,380) | $60,577 | ' | $408 |
Ending Balance, Shares at Dec. 31, 2013 | ' | ' | ' | ' | -7,702,900 | ' | -33,069,534 | -40,772,434 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows From Operating Activities | ' | ' | ' |
Net Income | $72,022 | $39,479 | $10,531 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ' | ' | ' |
Net (Gains) Losses on Investments, Marketable Securities and Contingent Consideration | -2,172 | 756 | -4,069 |
Equity Method Investments | -1,454 | -2,672 | -919 |
Equity-Based and Other Deferred Compensation | 121,608 | 115,632 | 94,253 |
Depreciation, Amortization and Accretion | 16,699 | 18,784 | 20,401 |
Bad Debt Expense | 2,099 | 1,803 | 1,558 |
Adjustment to Tax Receivable Agreements | -6,905 | 0 | 0 |
Deferred Taxes | 20,058 | -7,967 | 11,026 |
Decrease (Increase) in Operating Assets: | ' | ' | ' |
Marketable Securities | 234 | 674 | 461 |
Financial Instruments Owned and Pledged as Collateral at Fair Value | 65,045 | 16,056 | -91,056 |
Securities Purchased Under Agreements to Resell | -19,578 | 2,278 | 123,559 |
Accounts Receivable | 1,460 | -37,111 | 2,749 |
Receivable from Employees and Related Parties | -4,542 | 2,627 | -4,275 |
Other Assets | -19,945 | 15,485 | -144 |
(Decrease) Increase in Operating Liabilities: | ' | ' | ' |
Accrued Compensation and Benefits | 12,435 | 2,967 | 32,128 |
Accounts Payable and Accrued Expenses | 258 | 466 | 1,499 |
Securities Sold Under Agreements to Repurchase | -45,543 | -18,413 | -32,283 |
Payables to Employees and Related Parties | 4,451 | -2,429 | -7,067 |
Taxes Payable | -15,591 | 13,694 | -1,777 |
Other Liabilities | -1,925 | -1,951 | -8,739 |
Net Cash Provided by Operating Activities | 198,714 | 160,158 | 147,836 |
Cash Flows From Investing Activities | ' | ' | ' |
Investments Purchased | -3,012 | -2,161 | -48,575 |
Distributions of Private Equity Investments | 1,300 | 1,192 | 1,211 |
Marketable Securities: | ' | ' | ' |
Proceeds from Sales and Maturities | 31,106 | 67,958 | 80,678 |
Purchases | -35,187 | -23,499 | -71,599 |
Cash Paid for Acquisitions, net of Cash Acquired | 218 | -6,743 | -30,397 |
Proceeds from Sale of Business | 1,198 | 0 | 0 |
Change in Restricted Cash | 0 | 2,111 | 0 |
Purchase of Furniture, Equipment and Leasehold Improvements | -4,487 | -13,941 | -8,662 |
Net Cash Provided by (Used In) Investing Activities | -8,864 | 24,917 | -77,344 |
Cash Flows From Financing Activities | ' | ' | ' |
Payments for Settlement of Debt and Capital Lease Obligations | 0 | -1,047 | -8,335 |
Issuance of Noncontrolling Interests | 3,589 | 469 | 1,009 |
Distributions to Noncontrolling Interests | -18,950 | -16,528 | -19,087 |
Payments Under Tax Receivable Agreement | -7,651 | 0 | 0 |
Cash Paid for Deferred and Contingent Consideration | -3,396 | -3,000 | -13,486 |
Proceeds from Equity Offering, Net of Direct Expenses | 0 | 0 | 168,140 |
Purchase of Treasury Stock and Noncontrolling Interests | -102,277 | -66,983 | -140,242 |
Excess Tax Benefits Associated with Equity-Based Awards | 8,979 | 1,451 | 6,266 |
Dividends - Class A Stockholders | -30,090 | -24,296 | -19,346 |
Other | 0 | -78 | 0 |
Net Cash Provided by (Used in) Financing Activities | -149,796 | -110,012 | -25,081 |
Effect of Exchange Rate Changes on Cash | -1,032 | 1,463 | -3,843 |
Net Increase in Cash and Cash Equivalents | 39,022 | 76,526 | 41,568 |
Cash and Cash Equivalents-Beginning of Period | 259,431 | 182,905 | 141,337 |
Cash and Cash Equivalents-End of Period | 298,453 | 259,431 | 182,905 |
SUPPLEMENTAL CASH FLOW DISCLOSURE | ' | ' | ' |
Payments for Interest | 12,807 | 13,962 | 17,914 |
Payments for Income Taxes | 57,178 | 9,569 | 13,957 |
Furniture, Equipment and Leasehold Improvements Accrued | 1,060 | 267 | 1,293 |
Increase (Decrease) in Fair Value of Redeemable Noncontrolling Interest | -12,985 | 27,376 | -3,942 |
Dividend Equivalents Issued | 5,989 | 4,969 | 2,805 |
Notes Exchanged for Equity in Subsidiary | 1,042 | 0 | 0 |
Settlement of Contingent Consideration | 2,494 | 0 | 0 |
Receipt of Marketable Securities in Settlement of Accounts Receivable | $2,728 | $0 | $0 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Organization | ' |
Organization | |
Evercore Partners Inc. and subsidiaries (the “Company”) is an investment banking and investment management firm, incorporated in Delaware on July 21, 2005 and headquartered in New York, New York. The Company is a holding company which owns a controlling interest in Evercore LP, a Delaware limited partnership (“Evercore LP”). Subsequent to the Company’s initial public offering (“IPO”), the Company became the sole general partner of Evercore LP. The Company operates from its offices in the United States, the United Kingdom, Mexico, Hong Kong, Canada, Singapore and, through its affiliate G5 Holdings S.A. (“G5 ǀ Evercore”), in Brazil. | |
The Investment Banking business includes the advisory business through which the Company provides advice to clients on significant mergers, acquisitions, divestitures and other strategic corporate transactions, with a particular focus on advising prominent multinational corporations and substantial private equity firms on large, complex transactions. The Company also provides restructuring advice to companies in financial transition, as well as to creditors, shareholders and potential acquirers. In addition, the Company provides its clients with capital markets advice, underwrites securities offerings and raises funds for financial sponsors and provides advisory services focused on secondary transactions for private funds interests. The Investment Banking business also includes the Institutional Equities business through which the Company offers equity research and agency-based equity securities trading for institutional investors. | |
The Investment Management business includes the institutional asset management business through which the Company, directly and through affiliates, manages financial assets for sophisticated institutional investors and provides independent fiduciary services to corporate employee benefit plans and high net-worth individuals, the wealth management business through which the Company provides investment advisory and wealth management services for high net-worth individuals and associated entities, and the private equity business through which the Company, directly and through affiliates, manages private equity funds. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies | ' |
Significant Accounting Policies | |
Basis of Presentation – The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |
The consolidated financial statements of the Company are comprised of the consolidation of Evercore LP and Evercore LP’s wholly-owned and majority-owned direct and indirect subsidiaries, including Evercore Group L.L.C. (“EGL”), a registered broker-dealer in the U.S. The Company’s policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities (“VIEs”) where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE, except for certain VIEs that qualify for accounting purposes as investment companies. The Company reviews factors, including the rights of the equity holders and obligations of equity holders to absorb losses or receive expected residual returns, to determine if the investment is a VIE. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly or indirectly by the Company. The consolidation analysis is generally performed qualitatively. This analysis, which requires judgment, is performed at each reporting date. | |
In February 2010, Accounting Standards Update (“ASU”) No. 2010-10, “Amendments for Certain Investment Funds”, was issued. This ASU defers the application of the revised consolidation rules for a reporting entity’s interest in an entity if certain conditions are met, including if the entity has the attributes of an investment company and is not a securitization or asset-backed financing entity. An entity that qualifies for the deferral will continue to be assessed for consolidation under the overall guidance on VIEs, before its amendment, and other applicable consolidation guidance. Generally, the Company would consolidate those entities when it absorbs a majority of the expected losses or a majority of the expected residual returns, or both, of the entities. | |
For entities (principally funds) that the Company has concluded are not VIEs, the Company then evaluates whether the fund is a partnership or similar entity. If the fund is a partnership or similar entity, the Company evaluates the fund under the partnership consolidation guidance. Pursuant to that guidance, the Company consolidates funds in which it is the general partner and/or manages through a contract, unless presumption of control by the Company can be overcome. This presumption is overcome only when unrelated investors in the fund have the substantive ability to liquidate the fund or otherwise remove the Company as the general partner without cause, based on a simple majority vote of unaffiliated investors, or have other substantive participating rights. If the presumption of control can be overcome, the Company accounts for its interest in the fund pursuant to the equity method of accounting. | |
All intercompany balances and transactions with the Company’s subsidiaries have been eliminated upon consolidation. | |
At the time of the formation transaction, the members of Evercore LP (the “Members”) received Evercore LP partnership units (“LP Units”) in consideration for their contribution of the various entities included in the historical combined financial statements of the Company. The LP Units are subject to vesting requirements and transfer restrictions and are exchangeable on a one-for-one basis for shares of Class A common stock (“Class A Shares”). The Company accounts for exchanges of LP Units for Class A Shares based on the carrying amounts of the Members’ LP Units immediately before the exchange. | |
The Company’s interest in Evercore LP is within the scope of Accounting Standards Codification (“ASC”) 810-20, “Determining Whether a General Partner, or the General Partners as a Group, Controls a Limited Partnership or Similar Entity When the Limited Partners Have Certain Rights”. The Company consolidates Evercore LP and records noncontrolling interest for the economic interest in Evercore LP held directly by others, which includes the Members. | |
Accounts Receivable – Accounts Receivable consists primarily of investment banking fees and expense reimbursements charged to the Company’s clients. The Company records Accounts Receivable net of any allowance for doubtful accounts. The Company maintains an allowance for bad debts to provide coverage for estimated losses from its client receivables. The Company determines the adequacy of the allowance by estimating the probability of loss based on the Company’s analysis of the client’s creditworthiness and specifically reserves against exposure where the Company determines the receivables are impaired, which may include situations where a fee is in dispute or litigation has commenced. | |
Furniture, Equipment and Leasehold Improvements – Fixed assets, including office equipment, hardware and software and leasehold improvements, are stated at cost, net of accumulated depreciation and amortization. Furniture, equipment and computer hardware and software are depreciated using the straight-line method over the estimated useful lives of the assets, ranging from three to seven years. Leasehold improvements are amortized over the shorter of the term of the lease or the useful life of the asset. | |
Investment Banking Revenue – The Company earns investment banking fees from clients for providing advisory services on mergers, acquisitions, divestitures, leveraged buyouts, restructurings and similar corporate finance matters. The Company’s Investment Banking services also include services related to securities underwriting, private fund placement services and commissions for agency-based equity trading services and equity research. It is the Company’s accounting policy to recognize revenue when (i) there is persuasive evidence of an arrangement with a client, (ii) fees are fixed or determinable, (iii) the agreed-upon services have been completed and delivered to the client or the transaction or events contemplated in the engagement letter are determined to be substantially completed and (iv) collection is reasonably assured. The Company records Investment Banking Revenue on the Consolidated Statements of Operations for the following: | |
Advisory Fees – In general, advisory fees are paid at the time the Company signs an engagement letter, during the course of the engagement or when an engagement is completed. In some circumstances, and as a function of the terms of an engagement letter, the Company may receive retainer fees for financial advisory services concurrent with, or soon after, the execution of the engagement letter where the engagement letter will specify a future service period associated with that fee. In such circumstances, these retainer fees are initially recorded as deferred revenue, which is recorded in Other Current Liabilities on the Consolidated Statements of Financial Condition, and subsequently recognized as revenue on the Consolidated Statements of Operations during the applicable time period within which the service is rendered. Revenues related to fairness or valuation opinions are recognized when the opinion has been rendered and delivered to the client and all other requirements for revenue recognition are satisfied. Success fees for advisory services, such as merger and acquisition advice, are recognized when the transaction(s) or event(s) are determined to be completed or substantially completed and all other requirements for revenue recognition are satisfied. In the event the Company were to receive an opinion or success fee in advance of the completion conditions noted above, such fee would initially be recorded as deferred revenue and subsequently recognized as advisory fee revenue when the conditions of completion have been satisfied. | |
Placement Fees – Placement fee revenues are attributable to capital raising on both a primary and secondary basis. The Company recognizes placement advisory fees at the time of the client’s acceptance of capital or capital commitments in accordance with the terms of the engagement letter. | |
Underwriting Fees – Underwriting revenues are attributable to public and private offerings of equity and debt securities and are recognized when the offering has been deemed to be completed by the lead manager of the underwriting group. When the offering is completed, the Company recognizes the applicable management fee, selling concession and underwriting fee, the latter net of estimated offering expenses. | |
Commissions – Commissions received from customers for the execution of agency-based brokerage transactions in listed and over-the-counter equities are recorded on a trade-date basis or, in the case of payments under commission sharing arrangements, when earned. | |
Taxes collected from customers and remitted to governmental authorities are presented on a net basis on the Consolidated Statements of Operations. | |
Investment Management Revenue – The Company’s Investment Management business generates revenues from the management of client assets and the private equity funds. | |
Investment management fees for third-party clients are generally based on the value of the assets under management (“AUM”) and any performance fees that may be negotiated with the client. These fees are generally recognized over the period that the related services are provided, based upon the beginning, ending or average value of the assets for the relevant period. Fees paid in advance of services rendered are initially recorded as deferred revenue, which is recorded in Other Current Liabilities on the Consolidated Statements of Financial Condition, and are recognized in Investment Management Revenue on the Consolidated Statements of Operations ratably over the period in which the related service is rendered. Generally, to the extent performance fee arrangements have been negotiated, these fees are earned when the return on assets exceeds certain benchmark returns. Performance fees are accrued on a monthly basis and are not subject to adjustment once the measurement period ends (annually) and performance fees have been realized. | |
Management fees for private equity funds are contractual and are typically based on committed capital during the private equity funds’ investment period, and on invested capital, thereafter. Management fees are recognized ratably over the period during which services are provided. The management fees may provide for a management fee offset for certain portfolio company fees the Company earns. The Company also records performance fee revenue from the private equity funds when the returns on the private equity funds’ investments exceed certain threshold minimums. These performance fees, or carried interest, are computed in accordance with the underlying private equity funds’ partnership agreements and are based on investment performance over the life of each investment partnership. Performance fees are recorded as revenue as earned pursuant to the underlying agreements and policy elections of affiliated investment managers. | |
Fees generated for serving as an independent fiduciary and/or trustee are either based on a flat fee, are pre-negotiated with the client or are based on the value of assets under administration. For ongoing engagements, fees are billed quarterly either in advance or in arrears. Fees paid in advance of services rendered are initially recorded as deferred revenue in Other Current Liabilities on the Consolidated Statements of Financial Condition, and are recognized in Investment Management Revenue on the Consolidated Statements of Operations ratably over the period in which the related services are rendered. | |
Other Revenue, Including Interest and Interest Expense – Other Revenue, Including Interest and Interest Expense is derived primarily from financing transactions. These transactions are principally repurchases and resales of Mexican government securities. Revenue and expenses associated with these transactions are recognized over the term of the repurchase transaction. Other Revenue, Including Interest and Interest Expense also includes interest expense associated with the $120,000 principal amount of senior unsecured notes (“Senior Notes”), as well as income earned on marketable securities and cash deposited with financial institutions and changes in amounts due pursuant to the Company's tax receivable agreements. | |
Client Expense Reimbursement – In the conduct of its financial advisory service engagements and in advising the private equity funds, the Company receives reimbursement for certain expenses incurred by the Company on behalf of its clients and the funds. Transaction-related expenses, which are billable to clients, are recognized as revenue and recorded in Accounts Receivable on the later of the date of an executed engagement letter or the date the expense is incurred. | |
Noncontrolling Interest – Noncontrolling interest recorded in the consolidated financial statements of the Company relates to the portions of the subsidiaries not owned by the Company. The Company allocates net income to noncontrolling interests held at Evercore LP and at the operating entity level, where required, by multiplying the vested equity ownership percentage of the noncontrolling interest holders for the period by the net income or loss for the entity which the noncontrolling interest relates. In circumstances where the governing documents of the entity to which the noncontrolling interest relates require special allocations of profits (losses) to the controlling and noncontrolling interest holders, then the net income or loss of these entities will be allocated based on these special allocations. | |
ASC 810, “Consolidation" (“ASC 810”) requires reporting entities to present noncontrolling (minority) interests as equity (as opposed to as a liability or mezzanine equity) and provides guidance on the accounting for transactions between an entity and noncontrolling interests. Noncontrolling Interest is presented as a component of Total Equity on the Consolidated Statements of Financial Condition and below Net Income on the Consolidated Statements of Operations. In addition, there is an allocation of the components of Total Comprehensive Income between controlling interests and noncontrolling interests for the years ended December 31, 2013, 2012 and 2011. | |
Cash and Cash Equivalents – Cash and Cash Equivalents consist of short-term highly-liquid investments with original maturities of three months or less. | |
Fair Value of Financial Instruments – The majority of the Company’s assets and liabilities are recorded at fair value or at amounts that approximate fair value. Such assets and liabilities include cash and cash equivalents, investments, marketable securities, financial instruments owned and pledged as collateral, repurchase and reverse repurchase agreements, receivables and payables and accruals. See Note 10 for further information. | |
Marketable Securities – Marketable Securities include investments in corporate, municipal and other debt securities, as well as investments in readily-marketable equity securities, which are accounted for as available-for-sale under ASC 320-10, “Accounting for Certain Investments in Debt and Equity Securities”. These securities are carried at fair value on the Consolidated Statements of Financial Condition. Unrealized gains and losses are reported as net increases or decreases to Accumulated Other Comprehensive Income (Loss), net of tax, while realized gains and losses on these securities are determined using the specific identification method and are included in Other Revenue, Including Interest on the Consolidated Statements of Operations. The readily-marketable debt and equity securities are valued using quoted market prices on applicable exchanges or markets. Marketable Securities also include investments in municipal bonds held at EGL and mutual funds, which are carried at fair value, with changes in fair value recorded in Other Revenues, Including Interest on the Consolidated Statements of Operations. Marketable Securities transactions are recorded as of the trade date. | |
Financial Instruments Owned and Pledged as Collateral at Fair Value – The Company’s Financial Instruments Owned and Pledged as Collateral at Fair Value consist principally of foreign government obligations, which are recorded on a trade-date basis and are stated at quoted market values. Related gains and losses are reflected in Other Revenue, Including Interest on the Consolidated Statements of Operations. The Company pledges the Financial Instruments Owned and Pledged as Collateral at Fair Value to collateralize certain financing arrangements, which permits the counterparty to pledge the securities. | |
Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase – Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase are treated as collateralized financing transactions. The agreements provide that the transferor will receive substantially the same securities in return at the maturity of the agreement. These transactions are carried at the amounts at which the related securities will be subsequently resold or repurchased, plus accrued interest payable or receivable. As the maturities on these transactions are short-term in nature (i.e. generally mature on the next business day) and the underlying securities are debt instruments of the Mexican Governments or its agencies, their carrying amounts approximate fair value. The Company periodically assesses the collectability or credit quality related to securities purchased under agreements to resell. | |
Investments – The Company’s investments include investments in private equity partnerships, the Company’s equity interests in G5 ǀ Evercore, ABS Investment Management, LLC (“ABS”) and Evercore Pan-Asset Capital Management (“Pan”, consolidated on March 15, 2013 and sold on December 3, 2013), which are accounted for under the equity method of accounting and Trilantic Capital Partners ("Trilantic"). | |
Private Equity – The investments of private equity funds consist primarily of investments in marketable and non-marketable securities of the portfolio companies. The underlying investments held by the private equity funds are valued based on quoted market prices or estimated fair value if there is no public market. The Company determines fair value of non-marketable securities by giving consideration to a range of factors, including but not limited to, market conditions, operating performance (current and projected) and subsequent financing transactions. Due to the inherent uncertainty in the valuation of these non-marketable securities, estimated values may materially differ from the values that would have been used had a ready market existed for these investments. Investments in publicly-traded securities held by the private equity funds are valued using quoted market prices. The Company recognizes its allocable share of the changes in fair value of the private equity funds’ underlying investments as realized and unrealized gains (losses) within Investment Management Revenue in the Consolidated Statements of Operations. | |
Affiliates – The Company’s equity interests in G5 ǀ Evercore, ABS and Pan (consolidated on March 15, 2013 and sold on December 3, 2013) include its share of the income (losses) within Income (Loss) from Equity Method Investments, as a component of Income Before Income Taxes, on the Consolidated Statements of Operations. | |
The Company assesses its Equity Method Investments annually for impairment, or more frequently if circumstances indicate impairment may have occurred. | |
The Company also maintains an investment in Trilantic. See Note 9 for further information. | |
Goodwill and Intangible Assets – Goodwill is tested for impairment annually, as of November 30th, or more frequently if circumstances indicate impairment may have occurred. The Company assesses whether any goodwill recorded by its applicable reporting unit is impaired by comparing the fair value of each reporting unit with its respective carrying amount. For acquired businesses, contingent consideration is recognized and measured at fair value as of the acquisition date and at subsequent reporting periods. | |
Intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable as prescribed by ASC 360, “Property, Plant, and Equipment” ("ASC 360"). | |
The Company tests goodwill for impairment at the reporting unit level. In determining the fair value for each reporting unit the Company utilizes either a market multiple approach or a discounted cash flow methodology based on the adjusted cash flows from operations, or a weighted combination of both a market multiple approach and discounted cash flow methodology. The market multiple approach includes applying the average earnings multiples of comparable public companies for their respective reporting unit multiplied by the forecasted earnings of the respective reporting unit to yield an estimate of fair value. The discounted cash flow methodology begins with the forecasted adjusted cash flows from each of the reporting units and uses a discount rate that reflects the weighted average cost of capital adjusted for the risks inherent in the future cash flows. | |
See Note 4 for further information. | |
Compensation and Benefits – Compensation includes salaries, bonuses (discretionary awards and guaranteed amounts), severance, deferred cash and share-based compensation. Cash bonuses are accrued over the respective service periods to which they relate and deferred cash and share-based bonuses are expensed prospectively over their requisite service period. | |
Share-Based Payments –The Company accounts for share-based payments in accordance with ASC 718, “Compensation – Stock Compensation” (“ASC 718”). See Note 17 for further information. | |
Compensation expense recognized pursuant to share-based awards is based on the grant date fair value of the award. The fair value (as measured on the grant date) of awards that vest from one to five years (“Service-based Awards”) is amortized over the vesting periods or requisite service periods as required under ASC 718, however, the vesting of some Service-based Awards will accelerate upon the occurrence of certain events. The Company amortizes the grant-date fair value of share-based compensation awards made to employees, who are or will become retirement eligible prior to the stated vesting date, over the expected substantive service period. For the purposes of calculating diluted net income per share attributable to Evercore Partners Inc. common shareholders, unvested Service-based Awards are included in the diluted weighted average Class A Shares outstanding using the treasury stock method. Once vested, restricted stock units (“RSUs”) and restricted stock are included in the basic and diluted weighted average Class A Shares outstanding. Expense relating to RSUs and restricted stock is charged to Employee Compensation and Benefits within the Consolidated Statements of Operations. For a discussion of Event-based Awards, see Note 17. | |
Awards classified as liabilities as required under ASC 718, such as cash settled share-based awards, are re-measured at fair value at each reporting period. | |
Foreign Currency Translation – Foreign currency assets and liabilities have been translated at rates of exchange prevailing at the end of the periods presented. Income and expenses transacted in foreign currency have been translated at average monthly exchange rates during the period. Translation gains and losses are included in the foreign currency translation adjustment as a component of Accumulated Other Comprehensive Income (Loss) in the Consolidated Statements of Changes in Equity and Other Comprehensive Income (Loss) in the Consolidated Statements of Comprehensive Income. Exchange gains and losses arising from translating intercompany balances of a long-term investment nature are recorded in the foreign currency translation account while transactional exchange gains and losses are included in Other Revenue, Including Interest on the Consolidated Statements of Operations. | |
Income Taxes –The Company accounts for income taxes in accordance with ASC 740, “Income Taxes” (“ASC 740”), which requires the recognition of tax benefits or expenses on temporary differences between the financial reporting and tax bases of its assets and liabilities, as disclosed in Note 20. | |
Deferred income taxes reflect the net tax effects of temporary differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Such temporary differences are reflected on the Company’s Consolidated Statements of Financial Condition as deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. Significant management judgment is required in determining the Company’s provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against the Company’s net deferred tax assets. | |
ASC 740 provides a benefit recognition model with a two-step approach consisting of “more-likely-than-not” recognition criteria, and a measurement attribute that measures the position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. ASC 740 also requires the recognition of liabilities created by differences between tax positions taken in a tax return and amounts recognized in the financial statements. See Note 20 for further information. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
ASU 2011-11 – In December 2011, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”). ASU 2011-11 provides amendments to ASC No. 210, “Balance Sheet”, which are intended to enhance disclosures required by U.S. GAAP by requiring improved information about financial instruments and derivative instruments that are either (1) offset in accordance with either Section 210-20-45 or Section 815-10-45 or (2) subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in accordance with either Section 210-20-45 or Section 815-10-45. This information will enable users of an entity’s financial statements to evaluate the effect or potential effect of netting arrangements on an entity’s financial position, including the effect or potential effect of rights of setoff associated with certain financial instruments and derivative instruments in the scope of this update. In January 2013, the FASB issued ASU No. 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (“ASU 2013-01”), which provides amendments that clarify that the scope of ASU 2011-11 applies to derivatives accounted for in accordance with ASC No. 815, “Derivatives and Hedging”, including bifurcated embedded derivatives, repurchase and reverse repurchase agreements, and securities borrowing and securities lending transactions. The amendments in these updates are effective retrospectively for interim and annual periods beginning after January 1, 2013. The adoption of ASU 2011-11 and ASU 2013-01 did not have a material impact on the Company’s financial condition, results of operations and cash flows, or disclosures thereto. | |
ASU 2013-02 – In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-02”). ASU 2013-02 provides amendments to ASC No. 220, “Comprehensive Income”, which are intended to enhance disclosures required by U.S. GAAP by requiring improved information about the amounts reclassified out of accumulated other comprehensive income by component, and to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income and their corresponding effect on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. The amendments in this update are effective prospectively during interim and annual periods beginning after December 15, 2012, with early adoption permitted. The adoption of ASU 2013-02 did not have a material impact on the Company’s financial condition, results of operations and cash flows, or disclosures thereto. | |
ASU 2013-05 – In March 2013, the FASB issued ASU No. 2013-05, “Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). ASU 2013-05 provides amendments to ASC No. 830, “Foreign Currency Matters”, which are intended to resolve diversity in practice by clarifying the guidance for the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The amendments also clarify the guidance for the release of the cumulative translation adjustment into net income for business combinations achieved in stages involving a foreign entity. The amendments in this update are effective prospectively during interim and annual periods beginning after December 15, 2013, with early adoption permitted. The adoption of ASU 2013-05 did not have a material impact on the Company’s financial condition, results of operations and cash flows, or disclosures thereto. | |
ASU 2013-08 – In June 2013, the FASB issued ASU No. 2013-08, “Amendments to the Scope, Measurement, and Disclosure Requirements” (“ASU 2013-08”). ASU 2013-08 provides amendments to ASC No. 946, “Financial Services - Investment Companies”, which modify the guidance for the assessment of whether an entity is an investment company and provide additional implementation guidance for the assessment. The amendments also require fair value measurement rather than equity method accounting for noncontrolling ownership interests in other investment companies, and require additional disclosures about an entity's status as an investment company and financial support provided or contractually required to be provided by an investment company to its investees. The amendments in this update are effective prospectively during interim and annual periods beginning after December 15, 2013, with early adoption prohibited. The adoption of ASU 2013-08 did not have a material impact on the Company’s financial condition, results of operations and cash flows, or disclosures thereto. | |
ASU 2013-11 – In July 2013, the FASB issued ASU No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). ASU 2013-11 provides amendments to ASC No. 740, “Income Taxes”, which clarify the guidance for the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments require that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. If a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The amendments in this update are effective prospectively during interim and annual periods beginning after December 15, 2013, with early adoption permitted. The adoption of ASU 2013-11 did not have a material impact on the Company’s financial condition, results of operations and cash flows, or disclosures thereto. |
Business_Changes_and_Developme
Business Changes and Developments | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||
Business Changes and Developments | ' | |||||||||||||||||||||||
Business Changes and Developments | ||||||||||||||||||||||||
Pan and Discontinued Operations - In 2008, the Company made an equity method investment of $4,158 in Pan. This investment resulted in earnings (losses) of ($55), $90 and ($420) for the years ended December 31, 2013, 2012 and 2011, respectively, included within Income from Equity Method Investments on the Consolidated Statements of Operations. | ||||||||||||||||||||||||
In 2011 and 2012, the Company concluded that Pan was a VIE, and that the Company was not the primary beneficiary of the VIE. On March 15, 2013, the Company exchanged its notes receivable from Pan for additional common equity, increasing its common equity ownership interest to 68%, from 50%. The Company viewed this transaction as a reconsideration event and concluded that it had become the primary beneficiary of Pan, and therefore consolidated Pan in the Company's consolidated financial statements as of that date. The Company determined that it was the primary beneficiary of Pan because it possessed the power to significantly impact the economic performance of Pan and maintained the obligation to absorb losses of Pan, which could be potentially significant, or the right to receive benefits from Pan, that could be potentially significant. The assets retained by Pan are not generally available to the Company and the liabilities are generally non-recourse to the Company. The consolidation also resulted in goodwill of $3,020 and intangible assets relating to client relationships of $1,440, recognized in the Investment Management Segment. The intangible assets were being amortized over an estimated useful life of seven years. | ||||||||||||||||||||||||
During the third quarter of 2013, as part of an ongoing strategic initiative, the Company determined that Pan met the initial criteria to be classified as Held for Sale, which resulted in the Company reporting separately the assets and liabilities of Pan on the Consolidated Statement of Financial Condition. The Company further determined that Pan met the criteria to be classified within Discontinued Operations. The sale transaction closed on December 3, 2013. Based on the estimated fair value of Pan, the Company recorded a pretax loss of ($2,718) within Income (Loss) from Discontinued Operations on the Company’s Consolidated Statement of Operations for the year ended December 31, 2013. Further, discontinued operations includes revenues and pretax gains (losses) from Pan of $989 and ($1,542), respectively, for the year ended December 31, 2013. | ||||||||||||||||||||||||
Private Capital Advisory - During 2013, the Company expanded its global investment banking platform by establishing a private capital advisory business, focused on secondary transactions for private funds interests. In conjunction with the expansion, the Company formed Evercore Private Capital Advisory L.P. ("PCA"). The Company owns 80% of the common equity interest in PCA, with the remaining 20% owned by employees engaged in PCA's business. The Company is the general partner of PCA. The Company performed an assessment under ASC 810, and concluded that PCA is a VIE and determined that the Company is the primary beneficiary of this VIE. Specifically, the Company's general partner interest provides the Company with the ability to make decisions that significantly impact the economic performance of PCA, while the limited partners do not possess substantive participating rights over PCA. The Company's assessment of the primary beneficiary included assessing which parties have the power to significantly impact the economic performance and the obligation to absorb losses, which could be potentially significant to the entity, or the right to receive benefits from the entity that could be potentially significant. The assets of PCA are not generally available to the Company and the liabilities are generally non-recourse to the Company. | ||||||||||||||||||||||||
Mt. Eden Investment Advisors, LLC - In October 2012, the Company, through Evercore Wealth Management ("EWM"), entered into an agreement to acquire Mt. Eden Investment Advisors, LLC ("Mt. Eden"), a San Francisco-based registered investment advisor. The terms of the acquisition include $6,917 of cash and $2,694 of EWM equity paid to the sellers at closing, as well as contingent consideration of $282 subject to the retention of client relationships which was paid during 2013. The transaction was consummated on December 28, 2012. The transaction resulted in goodwill of $6,414 and intangible assets relating to client relationships, non-compete agreements and other intangibles of $3,630, $169 and $445, respectively, recognized in the Investment Management Segment. The intangible assets are being amortized over estimated useful lives ranging from two to 10 years. The Company recognized $455 of amortization expense related to these intangible assets for the year ended December 31, 2013. In addition, upon closing the Company funded the repayment of $1,047 of outstanding Mt. Eden debt. | ||||||||||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||||||||||
Goodwill associated with the Company’s acquisitions is as follows: | ||||||||||||||||||||||||
Investment | Investment | Total | ||||||||||||||||||||||
Banking | Management | |||||||||||||||||||||||
Balance at December 31, 2011 | $ | 81,937 | $ | 95,912 | $ | 177,849 | ||||||||||||||||||
Acquisitions | — | 6,500 | 6,500 | |||||||||||||||||||||
Foreign Currency Translation and Other | 4,415 | (80 | ) | 4,335 | ||||||||||||||||||||
Balance at December 31, 2012 | 86,352 | 102,332 | 188,684 | |||||||||||||||||||||
Foreign Currency Translation and Other | 676 | (86 | ) | 590 | ||||||||||||||||||||
Balance at December 31, 2013 (1) | $ | 87,028 | $ | 102,246 | $ | 189,274 | ||||||||||||||||||
-1 | The balance includes the net effect of the goodwill related to the consolidation and disposition of Pan. | |||||||||||||||||||||||
Intangible assets associated with the Company’s acquisitions are as follows: | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | |||||||||||||||||||||||
Investment | Investment | Total | Investment | Investment | Total | |||||||||||||||||||
Banking | Management | Banking | Management | |||||||||||||||||||||
Client Related | $ | 2,300 | $ | 45,830 | $ | 48,130 | $ | 1,299 | $ | 22,559 | $ | 23,858 | ||||||||||||
Acquired Mandates | 1,810 | — | 1,810 | 1,786 | — | 1,786 | ||||||||||||||||||
Non-compete/Non-solicit Agreements | 135 | 1,949 | 2,084 | 94 | 1,314 | 1,408 | ||||||||||||||||||
Other | — | 2,245 | 2,245 | — | 486 | 486 | ||||||||||||||||||
Total | $ | 4,245 | $ | 50,024 | $ | 54,269 | $ | 3,179 | $ | 24,359 | $ | 27,538 | ||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | |||||||||||||||||||||||
Investment | Investment | Total | Investment | Investment | Total | |||||||||||||||||||
Banking | Management | Banking | Management | |||||||||||||||||||||
Client Related | $ | 2,300 | $ | 46,960 | $ | 49,260 | $ | 969 | $ | 16,412 | $ | 17,381 | ||||||||||||
Acquired Mandates | 1,810 | — | 1,810 | 1,324 | — | 1,324 | ||||||||||||||||||
Non-compete/Non-solicit Agreements | 135 | 1,949 | 2,084 | 67 | 920 | 987 | ||||||||||||||||||
Other | — | 2,245 | 2,245 | — | 310 | 310 | ||||||||||||||||||
Total | $ | 4,245 | $ | 51,154 | $ | 55,399 | $ | 2,360 | $ | 17,642 | $ | 20,002 | ||||||||||||
Expense associated with the amortization of intangible assets was $7,994, $10,872 and $14,315 for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||
Based on the intangible assets above, as of December 31, 2013, annual amortization of intangibles for each of the next five years is as follows: | ||||||||||||||||||||||||
2014 | $ | 5,526 | ||||||||||||||||||||||
2015 | $ | 3,864 | ||||||||||||||||||||||
2016 | $ | 3,510 | ||||||||||||||||||||||
2017 | $ | 3,120 | ||||||||||||||||||||||
2018 | $ | 3,034 | ||||||||||||||||||||||
The Company recorded impairment charges of $2,888 for Goodwill and Intangible Assets during the year ended December 31, 2013. During December 2013, the founder and key member of management of Morse, Williams and Company, Inc. left the Company pursuant to a separation agreement, which among other provisions, allowed him to solicit a limited number of former clients without violating his post-employment restrictive covenant agreements. As a result, the Company experienced an outflow of client assets, and the Company performed a Step 1 impairment assessment under ASC 360 for the identifiable intangible assets that the Company recorded related to Client Relationships from the acquisition of Morse, Williams and Company, Inc., which were recognized in the Investment Management segment. The Company determined that the recoverability of the intangible assets would not be achieved and recorded an impairment charge of $170 within Special Charges on the Company's Consolidated Statement of Operations for the year ended December 31, 2013. Further, during 2013, the Company sold its interest in Pan, resulting in an impairment charge related to goodwill of $2,718 within Income (Loss) from Discontinued Operations on the Company’s Consolidated Statement of Operations for the year ended December 31, 2013. See "Pan and Discontinued Operations" above for further information. The Company concluded that there was no impairment of Goodwill or Intangible Assets related to its other reporting units during the year ended December 31, 2013. |
Acquisition_and_Transition_Cos
Acquisition and Transition Costs and Special Charges | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Acquisition and Transition Costs and Special Charges | ' |
Acquisition and Transition Costs and Special Charges | |
Acquisition and Transition Costs | |
The Company recognized $58, $840 and $3,465 for the years ended December 31, 2013, 2012 and 2011, respectively, as Acquisition and Transition Costs incurred in connection with acquisitions and other ongoing business development initiatives. These costs are primarily comprised of professional fees for legal and other services. Acquisition and Transition Costs included expenses of $2,118 for the year ended December 31, 2011, related to the Company’s acquisition of The Lexicon Partnership LLP ("Lexicon"). | |
Special Charges | |
The Company recognized costs of $170 for the year ended December 31, 2013, as Special Charges incurred related to the write-off of client-related intangible assets in EWM. See Note 4 for further information. The Company recognized costs of $662 for the year ended December 31, 2012, as Special Charges incurred in connection with exiting facilities in the UK, and $3,894 for the year ended December 31, 2011, as Special Charges incurred in connection with the Lexicon acquisition, including the exiting of a lease commitment for office space of $731, an introducing fee of $1,895, as well as other professional fees incurred by Lexicon of $1,268. |
Related_Parties
Related Parties | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Related Parties | ' | |||||||
Related Parties | ||||||||
The Company remits payment for expenses on behalf of the private equity funds and is reimbursed accordingly. For the years ended December 31, 2013, 2012 and 2011, the Company disbursed $1,218, $1,098 and $1,833, respectively, on behalf of these entities. | ||||||||
Investment Management Revenue includes income from related parties earned from the Company’s private equity funds for portfolio company fees, management fees, expense reimbursements and realized and unrealized gains and losses of private equity fund investments. Total Investment Management revenues from related parties amounted to $11,557, $4,781 and $6,696 for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||
Investment Banking Revenue includes advisory fees earned from clients that have a Senior Managing Director as a member of their Board of Directors of $14,090, $2,000 and $1,250 for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||
Other Assets on the Consolidated Statements of Financial Condition includes the long term portion of loans receivable from certain employees of $5,560 and $1,546 as of December 31, 2013 and 2012, respectively. See Note 17 for further information. | ||||||||
Receivable from Employees and Related Parties on the Consolidated Statements of Financial Condition consisted of the following at December 31, 2013 and 2012: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Advances to Employees | $ | 7,668 | $ | 3,624 | ||||
Personal Expenses Paid on Behalf of Employees and Related Parties | 72 | 213 | ||||||
Receivable from Affiliates | 578 | 390 | ||||||
Reimbursable Expenses Due From Portfolio Companies of the Company's Private Equity Funds | 127 | 409 | ||||||
Reimbursable Expenses Relating to the Private Equity Funds | 788 | 530 | ||||||
Receivable from Employees and Related Parties | $ | 9,233 | $ | 5,166 | ||||
Payable to Employees and Related Parties on the Consolidated Statements of Financial Condition consisted of the following at December 31, 2013 and 2012: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Board of Director Fees | $ | 266 | $ | 266 | ||||
Amounts Due to UK Members | 10,386 | 5,424 | ||||||
Amounts Due Pursuant to Tax Receivable Agreements (a) | 8,872 | 7,274 | ||||||
Payable to Employees and Related Parties | $ | 19,524 | $ | 12,964 | ||||
(a) | Relates to the current portion of the Member exchange of LP Units for Class A Shares. The long-term portion of $175,771 and $165,350 is disclosed in Amounts Due Pursuant to Tax Receivable Agreements on the Consolidated Statements of Financial Condition at December 31, 2013 and 2012, respectively. |
Marketable_Securities
Marketable Securities | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||
Marketable Securities | ' | |||||||||||||||||||||||||||||||
Marketable Securities | ||||||||||||||||||||||||||||||||
The amortized cost and estimated fair value of the Company’s Marketable Securities as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||||
31-Dec-13 | December 31, 2012 | |||||||||||||||||||||||||||||||
Cost | Gross | Gross | Fair Value | Cost | Gross | Gross | Fair Value | |||||||||||||||||||||||||
Unrealized | Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | |||||||||||||||||||||||||||||
Securities Investments | $ | 11,268 | $ | 754 | $ | 623 | $ | 11,399 | $ | 10,172 | $ | 1,428 | $ | 20 | $ | 11,580 | ||||||||||||||||
Debt Securities Carried by EGL | 22,542 | 87 | 1 | 22,628 | 13,522 | 97 | — | 13,619 | ||||||||||||||||||||||||
Mutual Funds | 7,917 | 1,600 | 137 | 9,380 | 10,946 | 412 | 12 | 11,346 | ||||||||||||||||||||||||
Total | $ | 41,727 | $ | 2,441 | $ | 761 | $ | 43,407 | $ | 34,640 | $ | 1,937 | $ | 32 | $ | 36,545 | ||||||||||||||||
Scheduled maturities of the Company’s available-for-sale debt securities within the Securities Investments portfolio as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||||
31-Dec-13 | December 31, 2012 | |||||||||||||||||||||||||||||||
Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||||||||||
Cost | Cost | |||||||||||||||||||||||||||||||
Due within one year | $ | 306 | $ | 307 | $ | 658 | $ | 659 | ||||||||||||||||||||||||
Due after one year through five years | 1,250 | 1,264 | 1,415 | 1,437 | ||||||||||||||||||||||||||||
Due after five years through 10 years | 100 | 100 | 347 | 346 | ||||||||||||||||||||||||||||
Total | $ | 1,656 | $ | 1,671 | $ | 2,420 | $ | 2,442 | ||||||||||||||||||||||||
Since the Company has the ability and intent to hold available-for-sale securities until a recovery of fair value is equal to an amount approximating its amortized cost, which may be at maturity, and has not incurred credit losses on its securities, it does not consider such unrealized loss positions to be other-than-temporarily impaired at December 31, 2013. | ||||||||||||||||||||||||||||||||
Securities Investments | ||||||||||||||||||||||||||||||||
Securities Investments include seed capital and other equity and debt securities, which are classified as available-for-sale securities within Marketable Securities on the Consolidated Statements of Financial Condition. These securities are stated at fair value with unrealized gains and losses included in Accumulated Other Comprehensive Income (Loss) and realized gains and losses included in earnings. The Company had net realized gains (losses) of ($45), ($85) and $936 for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||
Debt Securities Carried by EGL | ||||||||||||||||||||||||||||||||
EGL invests in a fixed income portfolio consisting primarily of municipal bonds. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest, on the Consolidated Statements of Operations, as required for broker-dealers in securities. The Company had net realized and unrealized gains (losses) of ($234), ($674) and ($460) for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||
Mutual Funds | ||||||||||||||||||||||||||||||||
The Company invests in a portfolio of mutual funds as an economic hedge against the Company’s deferred compensation program. See Note 17 for further information. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest, on the Consolidated Statements of Operations. The Company had net realized and unrealized gains (losses) of $1,344, $1,025 and ($412) for the years ended December 31, 2013, 2012 and 2011, respectively. |
Financial_Instruments_Owned_an
Financial Instruments Owned and Pledged as Collateral at Fair Value, Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value, Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase | ' | |||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value, Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase | ||||||||||||||||
The Company, through Evercore Casa de Bolsa, S.A. de C.V. (“ECB”), enters into repurchase agreements with clients seeking overnight money market returns whereby ECB transfers to the clients Mexican government securities in exchange for cash and concurrently agrees to repurchase the securities at a future date for an amount equal to the cash exchanged plus a stipulated premium or interest factor. ECB deploys the cash received from, and acquires the securities deliverable to, clients under these repurchase arrangements by purchasing securities in the open market, which the Company reflects as Financial Instruments Owned and Pledged as Collateral at Fair Value on the Consolidated Statements of Financial Condition, or by entering into reverse repurchase agreements with unrelated third parties. The Company accounts for these repurchase and reverse repurchase agreements as collateralized financing transactions, which are carried at their contract amounts, which approximate fair value given that the contracts generally mature the following business day. The Company records a liability on its Consolidated Statements of Financial Condition in relation to repurchase transactions executed with clients as Securities Sold Under Agreements to Repurchase. The Company records as assets on its Consolidated Statements of Financial Condition, Financial Instruments Owned and Pledged as Collateral at Fair Value (where the Company has acquired the securities deliverable to clients under these repurchase arrangements by purchasing securities in the open market) and Securities Purchased Under Agreements to Resell (where the Company has acquired the securities deliverable to clients under these repurchase agreements by entering into reverse repurchase agreements with unrelated third parties). These Mexican government securities have an estimated average time to maturity of approximately 1.8 years, as of December 31, 2013, and are pledged as collateral against repurchase agreements. Generally, collateral is posted equal to the contract value at inception and is subject to market changes. These repurchase agreements are primarily with institutional customer accounts managed by ECB and permit the counterparty to pledge the securities. | ||||||||||||||||
As of December 31, 2013 and 2012, a summary of the Company’s assets, liabilities and collateral received or pledged related to these transactions is as follows: | ||||||||||||||||
31-Dec-13 | December 31, 2012 | |||||||||||||||
Asset | Market Value of | Asset | Market Value of | |||||||||||||
(Liability) | Collateral Received | (Liability) | Collateral Received | |||||||||||||
Balance | or (Pledged) | Balance | or (Pledged) | |||||||||||||
Assets | ||||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value | $ | 56,311 | $ | 120,594 | ||||||||||||
Securities Purchased Under Agreements to Resell | 19,134 | $ | 19,112 | — | $ | — | ||||||||||
Total Assets | $ | 75,445 | $ | 120,594 | ||||||||||||
Liabilities | ||||||||||||||||
Securities Sold Under Agreements to Repurchase | $ | (75,563 | ) | $ | (75,708 | ) | $ | (120,787 | ) | $ | (121,029 | ) |
Investments
Investments | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Investments | ' | |||||||
Investments | ||||||||
The Company’s investments reported on the Consolidated Statements of Financial Condition consist of investments in private equity partnerships, Trilantic and other investments in unconsolidated affiliated companies. The Company’s investments are relatively high-risk and illiquid assets. | ||||||||
The Company’s investments in private equity partnerships consist of investment interests in private equity funds which are voting interest entities. Realized and unrealized gains and losses on the private equity investments are included within Investment Management Revenue, as the Company considers this activity integral to its Private Equity business. | ||||||||
The Company also has investments in G5 ǀ Evercore and ABS, which are voting interest entities. The Company's investment in Pan became a VIE and was sold in 2013 (See Note 4 - Business Changes and Developments). The Company’s share of earnings (losses) on the investments in G5 ǀ Evercore, ABS and Pan (prior to its consolidation on March 15, 2013) are included within Income from Equity Method Investments on the Consolidated Statements of Operations. | ||||||||
Investments in Private Equity | ||||||||
Private Equity Funds | ||||||||
The Company’s investments related to private equity partnerships and associated entities include investments in Evercore Capital Partners II, L.P. (“ECP II”), Discovery Americas I, L.P. (the “Discovery Fund”), Evercore Mexico Capital Partners II, L.P. (“EMCP II”), Evercore Mexico Capital Partners III, L.P. (“EMCP III”), CSI Capital, L.P. (“CSI Capital”), Trilantic Capital Partners Associates IV, L.P. (“Trilantic IV”) and Trilantic Capital Partners V, L.P. ("Trilantic V"). Portfolio holdings of the private equity funds are carried at fair value. Accordingly, the Company reflects its pro rata share of the unrealized gains and losses occurring from changes in fair value. Additionally, the Company reflects its pro rata share of realized gains, losses and carried interest associated with any investment realizations. | ||||||||
In 2013, the Company held a fourth and final closing on EMCP III, a private equity fund focused on middle market investments in Mexico. The total subscribed capital commitments of $201,000 included a capital commitment of $10,750 by the general partner of EMCP III, Evercore Mexico Partners III ("EMP III"), of which $1,000 relates to the Company and $9,750 relates to noncontrolling interest holders. At December 31, 2013, unfunded commitments of EMP III were $6,864, including $639 due from the Company. | ||||||||
During 2013, the Company made an investment of $1,532 in Trilantic V. See Note 18 for further information. | ||||||||
As a result of its investment in CITIC Securities International Partners, LTD (“CSIP”), during 2010, the Company made an investment of $3,164 in CSI Capital, a China focused fund affiliated with CSIP. | ||||||||
A summary of the Company’s investment in the private equity funds as of December 31, 2013 and 2012 was as follows: | ||||||||
31-Dec-13 | December 31, 2012 | |||||||
ECP II | $ | 3,251 | $ | 3,793 | ||||
Discovery Fund | 5,015 | 3,060 | ||||||
EMCP II | 11,125 | 10,400 | ||||||
EMCP III | 3,852 | 1,696 | ||||||
CSI Capital | 3,248 | 3,056 | ||||||
Trilantic IV | 4,356 | 4,573 | ||||||
Trilantic V | 1,532 | — | ||||||
Total Private Equity Funds | $ | 32,379 | $ | 26,578 | ||||
Net realized and unrealized gains (losses) on private equity fund investments, including performance fees, were $8,060, ($206) and $6,200 for the years ended December 31, 2013, 2012 and 2011, respectively. In the event the funds perform poorly, the Company may be obligated to repay certain carried interest previously distributed. As of December 31, 2013, the Company had $2,701 of previously received carried interest that may be subject to repayment. | ||||||||
General Partners of Private Equity Funds which are VIEs | ||||||||
The Company has concluded that EP II L.L.C., the general partner of ECP II, is a VIE pursuant to ASC 810. The Company owns 8%-9% of the carried interest earned by the general partner of ECP II. The Company’s assessment of the design of EP II L.L.C. resulted in the determination that the Company is not acting as an agent for other members of the general partner and is a passive holder of interests in the fund, evidenced by the fact that the Company is a non-voting, non-managing member of the general partner and, therefore, has no authority in directing the management operations of the general partner. Furthermore, the Company does not have the obligation to absorb significant losses or the right to receive benefits that could potentially have a significant impact to EP II L.L.C. Accordingly, the Company has concluded that it is not the primary beneficiary of EP II L.L.C and has not consolidated EP II L.L.C. in the Company's consolidated financial statements. | ||||||||
In 2013, EMP III, amended and restated its Limited Partnership Agreement and admitted certain limited partners, which are related parties of the Company. The Company viewed this modification as a reconsideration event under ASC 810-10, "Consolidation", and concluded that EMP III is a VIE and that the Company is the primary beneficiary of this VIE. Specifically, the Company's general partner interests in EMP III provide the Company the ability to make decisions that significantly impact the economic performance of EMP III, while the limited partners do not possess substantive participating rights over EMP III. The Company's assessment of the primary beneficiary of EMP III included assessing which parties have the power to significantly impact the economic performance of EMP III and the obligation to absorb losses, which could be potentially significant to EMP III, or the right to receive benefits from EMP III that could be potentially significant. The Company had previously consolidated EMP III as a voting interest entity; accordingly, consolidating as a VIE had no impact on the assets and liabilities of the Company. The Company consolidated EMP III assets of $4,287 and liabilities of $32 in the Company's Consolidated Statements of Financial Condition at December 31, 2013 and assets of $1,696 at December 31, 2012. The assets retained by EMP III are for the benefit of the interest holders of EMP III and the liabilities are generally non-recourse to the Company. | ||||||||
Investment in Trilantic Capital Partners | ||||||||
In 2010, the Company made a limited partnership investment in Trilantic in exchange for 500 LP Units having a fair value of $16,090. This investment gave the Company the right to invest in Trilantic’s current and future private equity funds, beginning with Trilantic Fund IV. The Company accounts for this investment under the cost method, subject to impairment. The Company allocates the cost of this investment to its investments in current and future Trilantic funds, as the Company satisfies the capital calls of these funds. The Company bases this allocation on its expectation of Trilantic’s future fundraising ability and performance. During 2013, $825 and $29 of this investment was allocated to Trilantic Fund V and Trilantic Fund IV, respectively. From 2010 to 2012, $1,091 of this investment was allocated to Trilantic Fund IV. This investment had a balance of $14,145 and $14,999 as of December 31, 2013 and 2012, respectively. The Company has a $5,000 commitment to invest in Trilantic Fund V, of which $4,265 is unfunded at December 31, 2013. The Company and Trilantic anticipate that the Company will participate in the successor funds to Trilantic Fund V. The Company further anticipates that participation in successor funds will be at amounts comparable to those of Trilantic Fund V. | ||||||||
Equity Method Investments | ||||||||
A summary of the Company’s other investments accounted for under the equity method of accounting as of December 31, 2013 and 2012 was as follows: | ||||||||
31-Dec-13 | December 31, 2012 | |||||||
G5 ǀ Evercore | $ | 20,001 | $ | 19,720 | ||||
ABS | 47,559 | 46,851 | ||||||
Pan | — | 2,749 | ||||||
Total | $ | 67,560 | $ | 69,320 | ||||
G5 ǀ Evercore | ||||||||
In 2010, the Company made an investment accounted for under the equity method of accounting in G5 ǀ Evercore. At December 31, 2013, the Company’s economic ownership interest in G5 ǀ Evercore was 49%. This investment resulted in earnings (losses) of $2,126, $1,368 and $1,340 for the years ended December 31, 2013, 2012 and 2011, respectively, included within Income from Equity Method Investments on the Consolidated Statements of Operations. | ||||||||
ABS | ||||||||
In 2011, the Company made an investment accounted for under the equity method of accounting in ABS. At December 31, 2013, the Company’s economic ownership interest in ABS was 45%. This investment resulted in earnings of $6,255 and $3,394 for the years ended December 31, 2013 and 2012, respectively, included within Income from Equity Method Investments on the Consolidated Statements of Operations. | ||||||||
Pan | ||||||||
In 2008, the Company made an investment accounted for under the equity method of accounting of $4,158 in Pan. This investment resulted in earnings (losses) of ($55), $90 and ($420) for the years ended December 31, 2013, 2012 and 2011, respectively, included within Income from Equity Method Investments on the Consolidated Statements of Operations. The Company consolidated its investment in Pan on March 15, 2013 and subsequently sold its investment on December 3, 2013. See Note 4 for further information. | ||||||||
Other | ||||||||
The Company allocates the purchase price of its equity method investments, in part, to the inherent finite-lived identifiable intangible assets of the investees. The Company’s share of the earnings of the investees has been reduced by the amortization of these identifiable intangible assets inherent in the investments of $2,586, $2,696 and $944 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”) establishes a hierarchal disclosure framework which prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is affected by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily-available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. | ||||||||||||||||||||
Investments measured and reported at fair value are classified and disclosed in one of the following categories: | ||||||||||||||||||||
Level I – Quoted prices are available in active markets for identical investments as of the reporting date. The type of investments included in Level I include listed equities and listed derivatives. As required by ASC 820, the Company does not adjust the quoted price for these investments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price. | ||||||||||||||||||||
Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. The estimated fair values of the Corporate Bonds, Municipal Bonds, Other Debt Securities and Securities Investments held at December 31, 2013 and 2012 are based on quoted market prices provided by external pricing services. | ||||||||||||||||||||
Level III – Pricing inputs are unobservable for the investment and includes situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. | ||||||||||||||||||||
The following table presents the categorization of investments and certain other financial assets measured at fair value on a recurring basis as of December 31, 2013 and 2012: | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Level I | Level II | Level III | Total | |||||||||||||||||
Corporate Bonds, Municipal Bonds and Other Debt Securities (1) | $ | — | $ | 33,882 | $ | — | $ | 33,882 | ||||||||||||
Securities Investments (1) | 12,001 | 2,398 | — | 14,399 | ||||||||||||||||
Mutual Funds | 9,380 | — | — | 9,380 | ||||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value | 56,311 | — | — | 56,311 | ||||||||||||||||
Total Assets Measured At Fair Value | $ | 77,692 | $ | 36,280 | $ | — | $ | 113,972 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Level I | Level II | Level III | Total | |||||||||||||||||
Corporate Bonds, Municipal Bonds and Other Debt Securities (1) | $ | — | $ | 38,482 | $ | — | $ | 38,482 | ||||||||||||
Securities Investments | 9,138 | 2,442 | — | 11,580 | ||||||||||||||||
Mutual Funds | 11,346 | — | — | 11,346 | ||||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value | 120,594 | — | — | 120,594 | ||||||||||||||||
Total Assets Measured At Fair Value | $ | 141,078 | $ | 40,924 | $ | — | $ | 182,002 | ||||||||||||
-1 | Includes $14,254 and $24,863 of treasury bills, municipal bonds and commercial paper classified within Cash and Cash Equivalents on the Consolidated Statements of Financial Condition as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. | ||||||||||||||||||||
The Company had no transfers between fair value levels during the years ended December 31, 2013 or 2012. | ||||||||||||||||||||
The carrying amount and estimated fair value of the Company’s financial instrument assets and liabilities which are not measured at fair value on the Consolidated Statements of Financial Condition are listed in the tables below. | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Carrying | Estimated Fair Value | |||||||||||||||||||
Amount | Level I | Level II | Level III | Total | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 284,199 | $ | 284,199 | $ | — | $ | — | $ | 284,199 | ||||||||||
Securities Purchased Under Agreements to Resell | 19,134 | — | 19,134 | — | 19,134 | |||||||||||||||
Accounts Receivable | 83,347 | — | 83,347 | — | 83,347 | |||||||||||||||
Receivable from Employees and Related Parties | 9,233 | — | 9,233 | — | 9,233 | |||||||||||||||
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 | — | — | 10,200 | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Accounts Payable and Accrued Expenses | $ | 18,365 | $ | — | $ | 18,365 | $ | — | $ | 18,365 | ||||||||||
Securities Sold Under Agreements to Repurchase | 75,563 | — | 75,563 | — | 75,563 | |||||||||||||||
Payable to Employees and Related Parties | 19,524 | — | 19,524 | — | 19,524 | |||||||||||||||
Notes Payable | 103,226 | — | 127,425 | — | 127,425 | |||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Carrying | Estimated Fair Value | |||||||||||||||||||
Amount | Level I | Level II | Level III | Total | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 234,568 | $ | 234,568 | $ | — | $ | — | $ | 234,568 | ||||||||||
Accounts Receivable | 89,098 | — | 89,098 | — | 89,098 | |||||||||||||||
Receivable from Employees and Related Parties | 5,166 | — | 5,166 | — | 5,166 | |||||||||||||||
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 | — | — | 10,200 | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Accounts Payable and Accrued Expenses | $ | 17,909 | $ | — | $ | 17,909 | $ | — | $ | 17,909 | ||||||||||
Securities Sold Under Agreements to Repurchase | 120,787 | — | 120,787 | — | 120,787 | |||||||||||||||
Payable to Employees and Related Parties | 12,964 | — | 12,964 | — | 12,964 | |||||||||||||||
Notes Payable | 101,375 | — | 136,860 | — | 136,860 | |||||||||||||||
The following methods and assumptions were used to estimate the fair value of these financial assets and liabilities: | ||||||||||||||||||||
The fair value of the Company’s Notes Payable is estimated based on a present value analysis utilizing aggregate market yields obtained from independent pricing sources for similar financial instruments. | ||||||||||||||||||||
The carrying amounts reported on the Consolidated Statements of Financial Condition for Cash and Cash Equivalents, Securities Purchased Under Agreements to Resell, Securities Sold Under Agreements to Repurchase, Accounts Receivable, Receivables from Employees and Related Parties, Accounts Payable and Accrued Expenses, Payables to Employees and Related Parties and Assets Segregated for Bank Regulatory Requirements approximate fair value due to the short term nature of these items. |
Furniture_Equipment_and_Leaseh
Furniture, Equipment and Leasehold Improvements | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Furniture, Equipment and Leasehold Improvements | ' | |||||||
Furniture, Equipment and Leasehold Improvements | ||||||||
Furniture, Equipment and Leasehold Improvements consisted of the following: | ||||||||
31-Dec-13 | 31-Dec-12 | |||||||
Furniture and Office Equipment | $ | 9,366 | $ | 8,891 | ||||
Leasehold Improvements | 32,719 | 30,884 | ||||||
Computer and Computer-related Equipment | 11,739 | 9,882 | ||||||
Total | 53,824 | 49,657 | ||||||
Less: Accumulated Depreciation and Amortization | (25,992 | ) | (19,880 | ) | ||||
Furniture, Equipment and Leasehold Improvements, Net | $ | 27,832 | $ | 29,777 | ||||
Depreciation and amortization expense for Furniture, Equipment and Leasehold Improvements totaled $6,543, $5,962 and $3,431 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Issuance_of_Notes_Payable_and_
Issuance of Notes Payable and Warrants | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Notes Payable [Abstract] | ' | |||
Issuance of Notes Payable and Warrants | ' | |||
Issuance of Notes Payable and Warrants | ||||
On August 21, 2008, the Company entered into a Purchase Agreement with Mizuho Corporate Bank, Ltd. (“Mizuho”) pursuant to which Mizuho purchased from the Company $120,000 principal amount of Senior Notes, due 2020 with a 5.20% coupon, and warrants to purchase 5,455 shares of the Company’s Class A common stock, par value $0.01 per share (“Class A Shares”) at $22.00 per share (the “Warrants”) expiring in 2020. Based on their relative fair value at issuance, plus accretion, the Senior Notes and Warrants were reflected in Notes Payable and Additional Paid-In-Capital on the Consolidated Statements of Financial Condition. The Senior Notes have an effective yield of 7.94%. | ||||
The holder of the Senior Notes may require the Company to purchase, for cash, all or any portion of the holder’s Senior Notes upon a change of control of the Company for a price equal to the aggregate accreted amount of such Senior Notes, (the “Accreted Amount”), plus accrued and unpaid interest. Senior Notes held by Mizuho will be redeemable at the Accreted Amount at the option of the Company at any time within 90 days following the date on which Mizuho notifies the Company that it is terminating their strategic alliance agreement (“Strategic Alliance Agreement”). Senior Notes held by any other holder than Mizuho will be redeemable at the Accreted Amount (plus accrued and unpaid interest) at the option of the Company at any time. In the event of a default under the indenture, the trustee or holders of 33 1/3% of the Senior Notes may declare that the Accreted Amount is immediately due and payable. | ||||
Pursuant to the agreement, Mizuho may transfer (A) the Senior Notes (i) with the Company’s consent, (ii) to a permitted transferee, or (iii) to the extent that such transfer does not result in any holder or group of affiliated holders directly or indirectly owning more than 15% of the aggregate principal amount of the Senior Notes, and (B) the Warrants (i) with the Company’s consent, (ii) to a permitted transferee, (iii) pursuant to a tender or exchange offer, or a merger or sale transaction involving the Company that has been recommended by the Company’s Board of Directors, or (iv) to the extent that such transfer is made pursuant to a widely distributed public offering or does not result in any holder or group of affiliated holders directly or indirectly owning more than 2% of the Company’s voting securities and the total shares of Class A common stock transferred, together with any shares of shares of Class A common stock (on an as-converted basis) transferred during the preceding 12 months, is less than 25% of the Company’s outstanding Class A common stock. The Company has a right of first offer on any proposed transfer by Mizuho of the Warrants, Common Stock purchased in the open market or acquired by exercise of the Warrants and associated Common Stock issued as dividends. | ||||
The exercise price for the Warrants is payable, at the option of the holder of the Warrants, either in cash or by tender of Senior Notes at the Accreted Amount, at any point in time. | ||||
As of December 31, 2013, the future payments required on the Senior Notes, including principal and interest were as follows: | ||||
2014 | $ | 6,240 | ||
2015 | 6,240 | |||
2016 | 6,240 | |||
2017 | 6,240 | |||
2018 | 6,240 | |||
Thereafter | 132,480 | |||
Total | $ | 163,680 | ||
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Employee Benefit Plans | ' |
Employee Benefit Plans | |
Defined Contribution Retirement Plan – The Company, through a subsidiary, provides certain retirement benefits to employees through a qualified retirement plan. The Evercore Partners Services East L.L.C. Retirement Plan (the “Plan”) is a defined contribution plan with a salary deferral feature under Section 401(k) of the Internal Revenue Code. It also includes a discretionary profit sharing feature. The Plan was formed on February 1, 1996 and subsequently amended. The Plan's year ends on December 31 of each year. The Company, at its sole discretion, determines the amount, if any, of profit to be contributed to the Plan. | |
The Company made no contributions for the years ended December 31, 2013, 2012 and 2011. | |
Evercore Europe Defined Contribution Benefit Plan – Evercore Partners Limited ("Evercore Europe") established the Evercore Partners Limited Group Personal Pension Plan (the “Evercore Europe Plan”), a defined contribution benefit plan, in November 2006 for Evercore Europe employees and members. The Evercore Europe Plan has a salary deferral feature as permitted under existing tax guidelines for HM Customs and Revenue, the Inland Revenue Service in the United Kingdom. Evercore Europe employees must elect to participate in the plan, and Evercore Europe has a minimum annualized contribution of 15% to 50% of an employee’s salary for all employees who participate, depending on the respective employee’s level within the Company. | |
Evercore Europe employees are also eligible to contribute up to 10% of their salary to the Evercore Europe Plan. Under the terms of the Evercore Europe Plan, if an employee contributes a minimum of 7.5% to 10% of their salary to the plan, Evercore Europe must make a matching contribution of 5% to 10% of the employee’s salary depending on the employee’s level within the company. | |
The Company made contributions to the Evercore Europe Plan for the years ended December 31, 2013, 2012 and 2011 totaling $3,632, $3,360 and $2,094, respectively. |
Evercore_Partners_Inc_Stockhol
Evercore Partners Inc. Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Evercore Partners Inc. Stockholders' Equity | ' |
Evercore Partners Inc. Stockholders’ Equity | |
Dividends – The Company’s Board of Directors declared on January 27, 2014, a quarterly cash dividend of $0.25 per share, to the holders of Class A Shares as of February 28, 2014, which will be paid on March 14, 2014. During the year ended December 31, 2013, the Company declared and paid dividends of $0.91 per share, totaling $30,090. During the year ended December 31, 2012, the Company declared and paid dividends of $0.82 per share, totaling $24,296. | |
Treasury Stock – During 2013, the Company purchased 983 Class A Shares primarily from employees at values ranging from $22.24 to $55.12 per share primarily for the net settlement of stock-based compensation awards and 1,298 Class A Shares at market values ranging from $36.00 to $41.00 per share pursuant to the Company’s share repurchase program. The result of these purchases was an increase in Treasury Stock of $87,620 on the Company’s Consolidated Statement of Financial Condition as of December 31, 2013. During 2013, the Company issued 39 Class A Shares from treasury stock as payment of contingent consideration in connection with the MJC Associates Agreement and 3 Class A Shares to a former employee. The result of these issuances was a decrease in Treasury stock of $1,194 on the Company's Consolidated Statement of Financial Condition as of December 31, 2013. During 2012, the Company purchased 726 Class A Shares primarily from employees at market values ranging from $21.71 to $29.62 per share primarily for the net settlement of stock-based compensation awards and 1,884 Class A Shares at market values ranging from $22.58 to $26.62 per share pursuant to the Company’s share repurchase program. The result of these purchases was an increase in Treasury Stock of $66,588 on the Company’s Consolidated Statement of Financial Condition as of December 31, 2012. During 2012, the Company issued 39 Class A Shares from treasury stock as payment of contingent consideration in connection with the Morse Williams Agreement, 65 Class A Shares from treasury stock as payment of contingent consideration in connection with the MJC Associates Agreement and 116 Class A Shares in conjunction with the acquisition of Lexicon. The result of these issuances was a decrease in Treasury stock of $5,641 on the Company’s Consolidated Statement of Financial Condition as of December 31, 2012. | |
LP Units – During 2013, 2,913 LP Units were exchanged for Class A Shares (including 983 LP Units which were exchanged on December 31, 2012, where settlement did not occur until January 2013), resulting in an increase to Common Stock and Additional Paid-In-Capital of $29 and $20,222, respectively, on the Company’s Consolidated Statement of Financial Condition as of December 31, 2013. During 2012, 2,108 LP Units were exchanged for Class A Shares, resulting in an increase to Common Stock and Additional Paid-In-Capital of $21 and $15,022, respectively, on the Company’s Consolidated Statement of Financial Condition as of December 31, 2012. | |
The above transactions, which increased the Company’s ownership in Evercore LP and resulted in a step-up in the tax basis of the assets of Evercore LP, increased Additional Paid-In-Capital by $7,178 and $1,477 on the Company’s Consolidated Statements of Financial Condition as of December 31, 2013 and 2012, respectively. | |
In 2013, the Company purchased 185 LP Units and certain other rights from a noncontrolling interest holder, resulting in a decrease to Noncontrolling Interest of $5,893 and a net increase to Additional Paid-In-Capital of $1,586, inclusive of the step-up in tax basis for the assets of Evercore LP, on the Company's Consolidated Statement of Financial Condition as of December 31, 2013. | |
Accumulated Other Comprehensive Income (Loss) – As of December 31, 2013, Accumulated Other Comprehensive Income (Loss) on the Company’s Consolidated Statement of Financial Condition includes an accumulated Unrealized Gain (Loss) on Marketable Securities, net, and a Foreign Currency Translation Adjustment Gain (Loss), net, of ($2,409) and ($8,375), respectively. | |
Income (Loss) from Discontinued Operations, and the Provision (Benefit) for Income Taxes from Discontinued Operations on the Consolidated Statement of Operations for the year ended December 31, 2013 includes ($1,683) and ($573), respectively, reclassified from Accumulated Other Comprehensive Income (Loss) related to the recognition of a cumulative foreign exchange translation loss as a result of the consolidation of Pan. Income (Loss) from Discontinued Operations, and the Provision (Benefit) for Income Taxes from Discontinued Operations on the Consolidated Statement of Operations for the year ended December 31, 2013 includes $409 and $135, respectively, reclassified from Accumulated Other Comprehensive Income (Loss) related to the recognition of a cumulative foreign exchange translation gain as a result of the sale of Pan. |
Noncontrolling_Interest
Noncontrolling Interest | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||
Noncontrolling Interest | ' | |||||||||||
Noncontrolling Interest | ||||||||||||
Noncontrolling Interest recorded in the consolidated financial statements of the Company relates to a 14% interest in Evercore LP, a 28% interest in ECB, a 49% interest in EWM, a 34% equity interest in Atalanta Sosnoff Capital LLC ("Atalanta Sosnoff"), a 38% interest in Institutional Equities, a 20% interest in PCA, a 14% interest in Evercore Trust Company, N.A. ("ETC") through the second quarter of 2013, a 32% interest in Pan (sold December 3, 2013) and other private equity partnerships, not owned by the Company at December 31, 2013. The Atalanta Sosnoff interest excludes the Series C Profits Interest, which has been reflected in Employee Compensation and Benefits Expense on the Consolidated Statements of Operations. The Noncontrolling Interest for Evercore LP, EWM, Atalanta Sosnoff and Institutional Equities have rights, in certain circumstances, to convert into Class A Shares. | ||||||||||||
Changes in Noncontrolling Interest for the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Beginning balance | $ | 62,243 | $ | 58,162 | $ | 66,542 | ||||||
Comprehensive income (loss) | ||||||||||||
Operating income | 18,760 | 10,590 | 3,579 | |||||||||
Other comprehensive income (loss) | (228 | ) | 1,269 | (2,218 | ) | |||||||
Total comprehensive income | 18,532 | 11,859 | 1,361 | |||||||||
Other items | ||||||||||||
Evercore LP Units Purchased or Converted into Class A Shares | (21,414 | ) | (9,867 | ) | (12,268 | ) | ||||||
Amortization and Vesting of LP Units | 20,365 | 21,697 | 21,057 | |||||||||
Distributions to Noncontrolling Interests | (18,950 | ) | (16,528 | ) | (19,087 | ) | ||||||
Fair value of Noncontrolling Interest in Pan | 309 | — | — | |||||||||
Issuance of Noncontrolling Interest | 4,021 | 469 | 917 | |||||||||
Purchase of Noncontrolling Interest | (4,529 | ) | — | — | ||||||||
Other | — | (3,549 | ) | (360 | ) | |||||||
Total other items | (20,198 | ) | (7,778 | ) | (9,741 | ) | ||||||
Ending balance | $ | 60,577 | $ | 62,243 | $ | 58,162 | ||||||
Net Income (Loss) Attributable to Noncontrolling Interest related to Pan from Discontinued Operations was ($1,185) for the year ended December 31, 2013 and Net Income (Loss) Attributable to Noncontrolling Interest related to EAM from Discontinued Operations was ($2,510) for the year ended December 31, 2011. | ||||||||||||
Other comprehensive income (loss) attributed to Noncontrolling Interest includes Unrealized Gain (Loss) on Marketable Securities, net, of ($180), $117 and ($338) for the years ended December 31, 2013, 2012 and 2011, respectively, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($48), $1,152 and ($1,880) for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||
In February 2010, Evercore LP issued 500 LP Units to Trilantic. The original terms were such that at December 31, 2014, at the option of the holder, these LP Units were exchangeable on a one-for-one basis for Class A Shares or may be redeemed for cash of $16,500. Accordingly, this value was being accreted to the minimum redemption value of $16,500 over the five-year period ending December 31, 2014 and $16,331 was reflected in Redeemable Noncontrolling Interest on the Consolidated Statement of Financial Condition as of December 31, 2012. Accretion was $68 and $84 for the years ended December 31, 2013 and 2012, respectively. In October of 2013, the Board of Directors of the Company agreed to release the transfer restrictions associated with these LP Units and the holders of these units exchanged them into Class A Shares. | ||||||||||||
In conjunction with the Company’s purchase agreement with Atalanta Sosnoff, the Company issued a management member of Atalanta Sosnoff certain capital interests in Atalanta Sosnoff, which are redeemable for cash, at their fair value. Accordingly, these capital interests have been reflected at their fair value of $4,283 and $3,997 within Redeemable Noncontrolling Interest on the Consolidated Statements of Financial Condition at December 31, 2013 and 2012, respectively. The increase in fair value primarily reflects higher valuations attributed to asset managers, as measured by multiples of expected earnings. | ||||||||||||
EWM has issued capital interests to certain employees which may be redeemable for cash at fair value at certain points in the future. Accordingly, these interests have been reflected at their fair value of $32,523 and $29,399 within Redeemable Noncontrolling Interest on the Consolidated Statements of Financial Condition at December 31, 2013 and 2012, respectively. The value of the redeemable noncontrolling interests held by the principals of EWM (“EWM Units”) increased from 2012 primarily as a result of higher valuations attributed to asset managers in 2013, as measured by multiples of expected earnings, as well as higher AUM and earnings in EWM. During 2012, several factors resulted in a $28,679 increase in the EWM Units. These factors included: (1) $2,693 from the issuance of 1,486 EWM Units in connection with the Mt. Eden acquisition by EWM in December of 2012, at the fair value of $1,812 per unit, (2) $19,841 from the expiration of key-man life insurance policies held by EWM on the holders of 10,950 EWM Units, valued at $1,812 per unit, causing the units to be reclassified from noncontrolling interest included in permanent equity to Redeemable Noncontrolling Interest included in mezzanine equity and (3) $6,145 from the increase in the fair value of the EWM Units outstanding at the beginning of the year. This increase in value arose from increases in anticipated levels of profitability resulting from the acquisition of Mt. Eden, resulting in a broader and more viable wealth management platform, from expected cost synergies from the Mt Eden acquisition and from organic growth in AUM held by the Company prior to the Mt. Eden acquisition during 2012. Accordingly, the Company reflected the $28,679 increase in Redeemable Noncontrolling Interest as a reduction of Noncontrolling Interest of $3,606, representing the historical value of the related EWM Units, and as a reduction of Additional Paid-in-Capital of $25,073, on the Consolidated Statement of Financial Condition as of December 31, 2012. | ||||||||||||
During 2013, the Company also had an issuance of noncontrolling interest related to EMP III. See Note 9 for further information. | ||||||||||||
During 2013, the Company purchased, at fair value, all of the noncontrolling interest in ETC for $7,890. This purchase was settled on July 19, 2013. |
Net_Income_Loss_Per_Share_Attr
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | ' | |||||||||||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | ||||||||||||
The calculations of basic and diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders for the years ended December 31, 2013, 2012 and 2011 are described and presented below. | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | ||||||||||||
Numerator: | ||||||||||||
Net income from continuing operations attributable to Evercore Partners Inc. | $ | 54,867 | $ | 28,889 | $ | 7,918 | ||||||
Associated accretion of redemption price of noncontrolling interest in Trilantic (See Note 15) | (68 | ) | (84 | ) | (84 | ) | ||||||
Net income from continuing operations attributable to Evercore Partners Inc. common shareholders | 54,799 | 28,805 | 7,834 | |||||||||
Net income (loss) from discontinued operations attributable to Evercore Partners Inc. common shareholders | (1,605 | ) | — | (966 | ) | |||||||
Net income attributable to Evercore Partners Inc. common shareholders | $ | 53,194 | $ | 28,805 | $ | 6,868 | ||||||
Denominator: | ||||||||||||
Weighted average shares of Class A common stock outstanding, including vested RSUs | 32,208 | 29,275 | 26,019 | |||||||||
Basic net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders | $ | 1.7 | $ | 0.98 | $ | 0.3 | ||||||
Basic net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders | (0.05 | ) | — | (0.04 | ) | |||||||
Basic net income per share attributable to Evercore Partners Inc. common shareholders | $ | 1.65 | $ | 0.98 | $ | 0.26 | ||||||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | ||||||||||||
Numerator: | ||||||||||||
Net income from continuing operations attributable to Evercore Partners Inc. common shareholders | $ | 54,799 | $ | 28,805 | $ | 7,834 | ||||||
Noncontrolling interest related to the assumed exchange of LP Units for Class A Shares | (a) | (a) | (a) | |||||||||
Associated corporate taxes related to the assumed elimination of Noncontrolling Interest described above | (a) | (a) | (a) | |||||||||
Diluted net income from continuing operations attributable to Class A common shareholders | 54,799 | 28,805 | 7,834 | |||||||||
Net income (loss) from discontinued operations attributable to Evercore Partners Inc. common shareholders | (1,605 | ) | — | (966 | ) | |||||||
Diluted net income attributable to Class A common shareholders | $ | 53,194 | $ | 28,805 | $ | 6,868 | ||||||
Denominator: | ||||||||||||
Weighted average shares of Class A common stock outstanding, including vested RSUs | 32,208 | 29,275 | 26,019 | |||||||||
Assumed exchange of LP Units for Class A Shares | (a) | (a) | (a) | |||||||||
Additional shares of the Company’s common stock assumed to be issued pursuant to non-vested RSUs and deferred consideration, as calculated using the Treasury Stock Method | 3,585 | 2,386 | 1,903 | |||||||||
Assumed conversion of Warrants issued | 2,688 | 887 | 1,475 | |||||||||
Diluted weighted average shares of Class A common stock outstanding | 38,481 | 32,548 | 29,397 | |||||||||
Diluted net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders | $ | 1.42 | $ | 0.89 | $ | 0.27 | ||||||
Diluted net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders | (0.04 | ) | — | (0.04 | ) | |||||||
Diluted net income per share attributable to Evercore Partners Inc. common shareholders | $ | 1.38 | $ | 0.89 | $ | 0.23 | ||||||
(a) | The Company has outstanding LP Units in its subsidiary, Evercore LP, which give the holders the right to receive Class A Shares upon exchange on a one for one basis. During the years ended December 31, 2013, 2012 and 2011, the LP Units were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders. The units that would have been included in the denominator of the computation of diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders if the effect would have been dilutive were 6,433, 8,695 and 10,356 for the years ended December 31, 2013, 2012 and 2011, respectively. The adjustment to the numerator, Diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $12,804, $8,135 and $5,692 for the years ended December 31, 2013, 2012 and 2011, respectively. In computing this adjustment, the Company assumes that all vested LP Units, and all unvested LP Units after applying the treasury stock method, are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Partners Inc. and, that it has adopted a conventional corporate tax structure and is taxed as a C Corporation in the U.S. at prevailing corporate tax rates. The Company does not anticipate that the LP Units will result in a dilutive computation in future periods. | |||||||||||
The shares of Class B common stock have no right to receive dividends or a distribution on liquidation or winding up of the Company. The shares of Class B common stock do not share in the earnings of the Company and no earnings are allocable to such class. Accordingly, basic and diluted net income per share of Class B common stock have not been presented. |
ShareBased_and_Other_Deferred_
Share-Based and Other Deferred Compensation | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Share-Based and Other Deferred Compensation | ' | ||||||
Share-Based and Other Deferred Compensation | |||||||
LP Units | |||||||
At the time of the Company’s formation and IPO, collectively referred to as the reorganization (“Reorganization”), Members and certain trusts benefiting certain of their families received 13,548 vested and 9,589 unvested LP Units. The LP Units are exchangeable into Class A Shares of the Company on a one-for-one basis once vested. | |||||||
The unvested LP Units vest ratably on December 31, 2011, 2012 and 2013 so long as the equity holder remains employed with Evercore Partners Inc., Evercore LP or their affiliates on such dates. The LP Units were all fully vested as of December 31, 2013. The Company is expensing the fair value of the awards, prospectively, over the service period. Expense related to the amortization of these LP Units was $20,063, $20,971 and $22,189 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||
Acquisition-related | |||||||
During 2011, in connection with the Lexicon acquisition, the Company committed to issue 1,883 restricted Class A Shares, including dividend equivalent units, (“Acquisition-related Awards”) and deferred cash consideration. Compensation expense related to the Acquisition-related Awards and deferred cash consideration was $10,960 and $3,937, respectively, for the year ended December 31, 2013, $18,749 and $7,216, respectively, for the year ended December 31, 2012, and $6,621 and $2,455, respectively, for the year ended December 31, 2011. | |||||||
The following table summarizes activity related to Acquisition-related Awards during the year ended December 31, 2013: | |||||||
Acquisition-related Awards | |||||||
Number of Shares | Grant Date Weighted | ||||||
Average Fair Value | |||||||
Unvested Balance at January 1, 2013 | 1,719 | $ | 39,338 | ||||
Granted | 27 | 1,221 | |||||
Vested | (619 | ) | (14,395 | ) | |||
Unvested Balance at December 31, 2013 | 1,127 | $ | 26,164 | ||||
As of December 31, 2013, the total compensation cost related to unvested Acquisition-related Awards and deferred cash consideration not yet recognized was $8,561. The weighted-average period over which this compensation cost is expected to be recognized is 18 months. | |||||||
In addition, certain Lexicon employees received deferred compensation of $1,892, which vests over two years. Compensation expense related to these awards was $211, $875 and $413 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||
2006 Stock Incentive Plan | |||||||
In 2006 the Company’s stockholders and board of directors adopted the Evercore Partners Inc. 2006 Stock Incentive Plan (the “2006 Plan”). The 2006 Plan permits the Company to grant to key employees, directors and consultants incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, RSUs and other awards based on the Company’s Class A Shares. The total number of Class A Shares which may be issued under the 2006 Plan is 20,000 and the Company intends to use newly-issued Class A Shares to satisfy any awards under the 2006 Plan. Class A Shares underlying any award granted under the 2006 Plan that expire, terminate or are canceled or satisfied for any reason without being settled in stock again become available for awards under the 2006 Plan. During the second quarter of 2013, the Company's stockholders approved the amended and restated 2006 Evercore Partners Inc. Stock Incentive Plan. The amended and restated plan, among other things, authorizes an additional 5,000 shares of the Company's Class A Shares. The total shares available to be granted in the future under the 2006 Plan were 7,323 and 4,667 as of December 31, 2013 and 2012, respectively. | |||||||
The Company also grants dividend equivalents, in the form of unvested RSU awards, concurrently with the payment of dividends to the holders of Class A Shares, on all unvested RSU grants awarded in conjunction with annual bonuses as well as new hire awards granted after April 2012. The dividend equivalents have the same vesting and delivery terms as the underlying RSU award. | |||||||
The Company had 525 RSUs which were fully vested but not delivered as of December 31, 2013. | |||||||
IPO Event-based Awards | |||||||
Pursuant to the 2006 Plan, at the time of the IPO, the Company granted to employees 2,286 RSUs (“Event-based Awards”), which were convertible into Class A Shares on a one-for-one basis once vested. These Event-based Awards have since fully vested and, as a result, the Company recorded compensation expense equal to the value of these fully-vested awards. | |||||||
In conjunction with the IPO, the Company also granted to an employee 12 IPO related Event-based awards, which remain unvested as of December 31, 2013. | |||||||
During 2011, 546 Event-based Awards vested primarily in conjunction of the Company’s offering of Class A Shares resulting in an expense of $11,467 and 27 Event-based Awards were forfeited. | |||||||
Deferred Cash Program | |||||||
During the first quarter of 2011, the Company launched a deferred compensation program providing participants the ability to elect to receive a portion of their deferred compensation in cash, which is indexed to a notional investment portfolio. The Company awarded deferred cash compensation of $3,926 and $9,153, during the first quarters of 2012 and 2011, respectively, which will vest ratably over four years and require payment upon vesting. Compensation expense related to this deferred compensation program was $3,804, $4,210 and $1,938 for the years ended December 31, 2013, 2012 and 2011, respectively. As of December 31, 2013, the total compensation cost related to the deferred compensation program not yet recognized was $4,706. The weighted-average period over which this compensation cost is expected to be recognized is 16 months. | |||||||
Long-term Incentive Plan | |||||||
During the third quarter of 2013, the Board of Directors of the Company approved the Long-term Incentive Plan, which provides for incentive compensation awards to Advisory Senior Managing Directors, excluding executive officers of the Company, who exceed defined benchmark results over a four-year performance period beginning January 1, 2013. These awards will be paid, in cash or Class A Shares, at the Company's discretion, in the two years following the performance period, to Senior Managing Directors employed by the Company at the time of payment. These awards are subject to retirement eligibility requirements. The Company periodically assesses the probability of the benchmarks being achieved and expenses the probable payout over the requisite service period of the award. The compensation expense related to these awards was $1,584 for the year ended December 31, 2013. | |||||||
Equity Grants | |||||||
2013 Equity Grants. During 2013, pursuant to the 2006 Plan, the Company granted employees 2,398 RSUs that are Service-based Awards. Service-based Awards granted during 2013 had grant date fair values of $26.60 to $55.24 per share. During 2013, 2,188 Service-based Awards vested and 60 Service-based Awards were forfeited. Compensation expense related to Service-based Awards, excluding compensation expense related to the amortization of LP Units, was $79,678 for the year ended December 31, 2013. | |||||||
The following table summarizes activity related to Service-based Awards, which includes RSUs as well as LP Units, during the year ended December 31, 2013: | |||||||
Service-based Awards | |||||||
Number of Shares | Grant Date Weighted | ||||||
Average Fair Value | |||||||
Unvested Balance at January 1, 2013 | 7,972 | $ | 196,868 | ||||
Granted | 2,398 | 75,229 | |||||
Forfeited | (60 | ) | (1,789 | ) | |||
Vested | (3,630 | ) | (88,706 | ) | |||
Unvested Balance at December 31, 2013 | 6,680 | $ | 181,602 | ||||
As of December 31, 2013, the total compensation cost related to unvested Service-based Awards, excluding Acquisition-related Awards, not yet recognized was $113,469. The ultimate amount of such expense is dependent upon the actual number of Service-based Awards that vest. The Company periodically assesses the forfeiture rates used for such estimates. A change in estimated forfeiture rates would cause the aggregate amount of compensation expense recognized in future periods to differ from the estimated unrecognized compensation expense described herein. The weighted-average period over which this compensation cost is expected to be recognized is 20 months. | |||||||
2012 Equity Grants. During 2012, pursuant to the 2006 Plan, the Company granted employees 3,163 RSUs that are Service-based Awards. Service-based Awards granted during 2012 had grant date fair values of $22.62 to $29.19 per share. During 2012, 1,760 Service-based Awards vested and 256 Service-based Awards were forfeited. Compensation expense related to Service-based Awards, excluding compensation expense related to the amortization of LP Units, was $62,840 for the year ended December 31, 2012. | |||||||
2011 Equity Grants. During 2011, pursuant to the 2006 Plan, the Company granted employees 2,273 RSUs that are Service-based Awards. Service-based Awards granted during 2011 had grant date fair values of $21.93 to $36.41 per share. During 2011, 1,552 Service-based Awards vested and 76 Service-based Awards were forfeited. Compensation expense related to Service-based Awards, excluding compensation expense related to the amortization of LP Units, was $47,299 for the year ended December 31, 2011. | |||||||
During 2011, the Company amended the terms of a Service-based Award with respect to 97 unvested and 37 vested RSUs. Due to this amendment, $2,828 was reclassified from Additional Paid-In-Capital to Other Current Liabilities on the Consolidated Statement of Financial Condition. | |||||||
Other | |||||||
Periodically, the Company provides compensation to new and existing employees in the form of loans and/or other cash awards which are subject to ratable vesting terms with service requirements ranging from one to five years. Generally, the terms of these awards include a requirement of either full or partial repayment of these awards based on the terms of their employment agreements with the Company. In circumstances where the employee meets the Company's minimum credit standards, the Company amortizes these awards to compensation expense over the relevant service period which is generally the period they are subject to forfeiture. Compensation expense related to these awards was $7,433 for the year ended December 31, 2013. The remaining unamortized amount of these awards was $13,378 as of December 31, 2013. | |||||||
During the fourth quarter of 2013, the Board of Directors of the Company agreed to release the transfer restrictions associated with 1,267 LP Units and 610 Restricted Class A Shares held by certain employees of the Company. | |||||||
The total income tax benefit related to share-based compensation arrangements recognized in the Company’s Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011 was $29,497, $26,773 and $19,423, respectively. | |||||||
During the first quarter of 2014, as part of the 2013 bonus awards, the Company granted to certain employees approximately 1,767 unvested RSUs pursuant to the 2006 Plan. These awards will generally vest over four years. In addition, during the first quarter of 2014, the Company granted approximately $5,935 of deferred cash to certain employees. | |||||||
The Company granted separation benefits to certain employees, resulting in expense included in Employee Compensation and Benefits of approximately $4,834 and $7,273 for the years ended December 31, 2013 and 2012, respectively. In conjunction with these arrangements, the Company distributed cash payments of $3,314 and $5,135 for the years ended December 31, 2013 and 2012, respectively. | |||||||
During 2011, the Company modified equity-based compensation awards for four employees, primarily relating to the vesting terms of IPO related equity grants. These modifications resulted in the Company recognizing $4,261 in incremental compensation expense in 2011. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
Operating Leases – The Company leases office space under non-cancelable lease agreements, which expire on various dates through 2023. The Company reflects lease expense over the lease terms on a straight-line basis. Occupancy lease agreements, in addition to base rentals, generally are subject to escalation provisions based on certain costs incurred by the landlord. Occupancy and Equipment Rental on the Consolidated Statements of Operations includes occupancy rental expense relating to operating leases of $23,905, $22,714 and $16,136 for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||
In conjunction with the lease of office space, the Company has entered into letters of credit in the amounts of approximately $3,660 and $3,500, which are secured by cash and included in Other Assets on the Company’s Consolidated Statements of Financial Condition as of December 31, 2013 and 2012, respectively. | ||||
The Company has entered into various operating leases for the use of certain office equipment. Rental expense for office equipment totaled $1,049, $627 and $510 for the years ended December 31, 2013, 2012 and 2011, respectively. Rental expense for office equipment is included in Occupancy and Equipment Rental on the Consolidated Statements of Operations. | ||||
As of December 31, 2013, the approximate aggregate minimum future payments required on the operating leases are as follows: | ||||
2014 | $ | 20,489 | ||
2015 | 19,700 | |||
2016 | 20,598 | |||
2017 | 18,835 | |||
2018 | 18,182 | |||
Thereafter | 71,732 | |||
Total | $ | 169,536 | ||
Other Commitments – As of December 31, 2013, the Company has unfunded commitments for capital contributions of $9,945 to the private equity funds, $4,265 of which relates to a capital commitment to Trilantic that the Company agreed to in April 2013. These commitments will be funded as required through the end of each private equity fund’s investment period, subject to certain conditions. Such commitments are satisfied in cash and are generally required to be made as investment opportunities are consummated by the private equity funds. | ||||
ECB maintains a line of credit with BBVA Bancomer to fund its trading activities on an intra-day and overnight basis. The intra-day facility is approximately $11,481 and is secured with trading securities when used on an overnight basis. No interest is charged on the intra-day facility. The overnight facility is charged the Inter-Bank Balance Interest Rate plus 10 basis points and is secured with trading securities. There have been no significant draw downs on ECB’s line of credit since August 10, 2006. The line of credit is renewable annually. | ||||
As of December 31, 2013, the Company estimates the contractual obligations related to the Tax Receivable Agreements to be $184,643. The Company expects to pay to the counterparties to the Tax Receivable Agreements $8,872 within one year or less, $29,928 in one to three years, $33,330 in three to five years and $112,513 after five years. | ||||
On February 11, 2010, the Company announced the formation of a strategic alliance to pursue private equity investment opportunities with Trilantic and to collaborate on the future growth of Trilantic’s business. See Note 9 for further information. | ||||
The Company also has additional commitments related to its redeemable noncontrolling interests. See Note 15 for further information. | ||||
Pursuant to the agreement related to the Institutional Equities business, the Company is committed to maintain at least $50,000 of Member’s equity in EGL, as measured in accordance with U.S. GAAP. | ||||
In addition, the Company enters into commitments to pay contingent consideration related to certain of its acquisitions. See Note 4 for further information. At December 31, 2013, the Company had one remaining commitment for contingent consideration, related to its acquisition of Protego in 2006. Under the terms of the acquisition agreement, the Company is obligated to pay the partners that sold Protego 90% of the return proceeds and performance fees received from Protego's investment in the general partner of the Discovery Fund. As of December 31, 2013, the Company has not received any distributions from the Discovery Fund and has not made any payments under this agreement. The carrying value of the Company's investment in the Discovery Fund is $5,015 at December 31, 2013. See Note 9 for further information. | ||||
In 2013, Evercore Partners Services East L.L.C. ("East"), a wholly-owned subsidiary of the Company, obtained a line of credit from First Republic Bank in an aggregate principal amount of up to $25,000, to be used for working capital and other corporate activities. This facility is secured by (i) cash and cash equivalents of East held in a designated account with First Republic Bank, (ii) certain of East's intercompany receivables and (iii) third party accounts receivable of EGL. Drawings under the facility bear interest at the prime rate. The facility matures on June 27, 2014, and may be renewed or extended. There were no monies drawn on this facility as of December 31, 2013. On February 5, 2014 $25,000 was drawn on this facility. | ||||
Contingencies | ||||
In the normal course of business, from time to time the Company and its affiliates are involved in judicial or regulatory proceedings, arbitration or mediation concerning matters arising in connection with the conduct of its businesses, including contractual and employment matters. In addition, Mexican, United Kingdom, Hong Kong, Canadian and United States government agencies and self-regulatory organizations, as well as state securities commissions in the United States, conduct periodic examinations and initiate administrative proceedings regarding the Company’s business, including, among other matters, accounting and operational matters, that can result in censure, fine, the issuance of cease-and-desist orders or the suspension or expulsion of a broker-dealer, investment advisor, or its directors, officers or employees. In view of the inherent difficulty of determining whether any loss in connection with such matters is probable and whether the amount of such loss can be reasonably estimated, particularly in cases where claimants seek substantial or indeterminate damages or where investigations and proceedings are in the early stages, the Company cannot estimate the amount of such loss or range of loss, if any, related to such matters, how or if such matters will be resolved, when they will ultimately be resolved, or what the eventual settlement, fine, penalty or other relief, if any, might be. Subject to the foregoing, the Company believes, based on current knowledge and after consultation with counsel, that it is not currently party to any material pending proceedings, individually or in the aggregate, the resolution of which would have a material effect on the Company. Provisions for losses are established in accordance with ASC 450, “Contingencies” when warranted. Once established, such provisions are adjusted when there is more information available or when an event occurs requiring a change. |
Regulatory_Authorities
Regulatory Authorities | 12 Months Ended |
Dec. 31, 2013 | |
Banking and Thrift [Abstract] | ' |
Regulatory Authorities | ' |
Regulatory Authorities | |
EGL is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Securities Exchange Act of 1934 as amended (the “Exchange Act”). In the second quarter of 2013, the Company made the election to compute its minimum net capital requirement in accordance with the Alternative Net Capital Requirement, as permitted by Rule 15c3-1. Under the Alternative Net Capital Requirement, EGL's minimum net capital requirement is $250. EGL’s regulatory net capital as of December 31, 2013 and 2012 was $30,480 and $31,281, respectively, which exceeded the minimum net capital requirement by $30,230 and $27,871, respectively. Certain other non-U.S. subsidiaries are subject to various securities and banking regulations and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate. These subsidiaries are in excess of their local capital adequacy requirements at December 31, 2013. | |
ETC, which is limited to fiduciary activities, is regulated by the Office of the Comptroller of the Currency ("OCC") and is a member bank of the Federal Reserve System. The Company, Evercore LP and ETC are subject to written agreements with the OCC that, among other things, require the Company and Evercore LP to (1) maintain at least $5,000 in Tier 1 capital in ETC (or such other amount as the OCC may require), (2) maintain liquid assets in ETC in an amount at least equal to the greater of $3,500 or 90 days coverage of ETC’s operating expenses and (3) provide at least $10,000 of certain collateral held in a segregated account at a third-party depository institution. The collateral is included in Assets Segregated for Bank Regulatory Requirements on the Consolidated Statements of Financial Condition. The Company was in compliance with the aforementioned agreements as of December 31, 2013. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
As a result of the Reorganization, the operating business entities of the Company were restructured and a portion of the Company’s income is subject to U.S. federal, state, local and foreign income taxes and is taxed at the prevailing corporate tax rates. Taxes Payable as of December 31, 2013 and 2012 were $4,713 and $20,304, respectively. | ||||||||||||
The following table presents the U.S. and non-U.S. components of Income (Loss) before income tax expense: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. | $ | 89,821 | $ | 45,226 | $ | 37,681 | ||||||
Non-U.S. | 28,735 | 14,571 | (7,039 | ) | ||||||||
Income before Income Tax Expense (a) | $ | 118,556 | $ | 59,797 | $ | 30,642 | ||||||
(a) | From continuing operations, net of Noncontrolling Interest from continuing operations. | |||||||||||
The components of the provision for income taxes from continuing operations reflected on the Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011 consist of: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 24,607 | $ | 24,956 | $ | 2,367 | ||||||
Foreign | 11,982 | 6,007 | 4,447 | |||||||||
State and Local | 7,541 | 7,912 | 4,942 | |||||||||
Total Current | 44,130 | 38,875 | 11,756 | |||||||||
Deferred: | ||||||||||||
Federal | 5,992 | (2,458 | ) | 11,368 | ||||||||
Foreign | 4,733 | (4,756 | ) | (1,129 | ) | |||||||
State and Local | 8,834 | (753 | ) | 729 | ||||||||
Total Deferred | 19,559 | (7,967 | ) | 10,968 | ||||||||
Total | $ | 63,689 | $ | 30,908 | $ | 22,724 | ||||||
A reconciliation between the statutory federal income tax rate from continuing operations and the Company’s effective tax rate for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Reconciliation of Federal Statutory Tax Rates: | ||||||||||||
U.S. Statutory Tax Rate | 35 | % | 35 | % | 35 | % | ||||||
Increase (Decrease) Due to State and Local Taxes | 5.3 | % | 6.8 | % | 13.1 | % | ||||||
Rate Benefits as a Limited Liability Company/Flow Through | (7.0 | )% | (6.9 | )% | (5.7 | )% | ||||||
Foreign Taxes | 3.2 | % | 2.2 | % | 4.3 | % | ||||||
Non-Deductible Expenses (1) | 3.4 | % | 9.4 | % | 17.1 | % | ||||||
Valuation Allowances | — | % | (2.0 | )% | (0.9 | )% | ||||||
Write Down of Deferred Tax Asset | 6.8 | % | 1.6 | % | — | % | ||||||
Other Adjustments | (0.7 | )% | (2.2 | )% | (1.0 | )% | ||||||
Effective Income Tax Rate | 46 | % | 43.9 | % | 61.9 | % | ||||||
-1 | Primarily related to non-deductible share-based compensation expense. | |||||||||||
Undistributed earnings of certain foreign subsidiaries totaled approximately $4,476 as of December 31, 2013. Deferred taxes have not been provided on the undistributed earnings of certain foreign subsidiaries, as the Company considers these amounts to be indefinitely reinvested to finance international growth and expansion. As of December 31, 2013, unrecognized net deferred tax liability attributable to those reinvested earnings would have aggregated approximately $1,288. In the event that such amounts were ever remitted, loaned to the Company, or if the stock in the foreign subsidiary was sold, these earnings could become subject to U.S. Federal tax and an income tax provision, if any, would be recognized at that time. | ||||||||||||
Deferred income taxes are provided for the effects of temporary differences between the tax basis of an asset or liability and its reported amount in the Consolidated Statements of Financial Condition. These temporary differences result in taxable or deductible amounts in future years. Details of the Company’s deferred tax assets and liabilities as of December 31, 2013 and 2012 were as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Current Deferred Tax Assets: | ||||||||||||
Step up in tax basis due to the exchange of LP Units for Class A Shares | $ | 11,271 | $ | 9,214 | ||||||||
Total Current Deferred Tax Asset | $ | 11,271 | $ | 9,214 | ||||||||
Long-term Deferred Tax Assets: | ||||||||||||
Depreciation and Amortization | $ | 20,604 | $ | 14,673 | ||||||||
Compensation and Benefits | 31,735 | 25,958 | ||||||||||
Step up in tax basis due to the exchange of LP Units for Class A Shares | 192,811 | 181,783 | ||||||||||
Other | 21,396 | 17,043 | ||||||||||
Total Long-term Deferred Tax Assets | $ | 266,546 | $ | 239,457 | ||||||||
Long-term Deferred Tax Liabilities: | ||||||||||||
Goodwill, Investments and Other | $ | 14,933 | $ | 10,008 | ||||||||
Total Long-term Deferred Tax Liabilities | $ | 14,933 | $ | 10,008 | ||||||||
Net Long-term Deferred Tax Assets Before Valuation Allowance | $ | 251,613 | $ | 229,449 | ||||||||
Valuation Allowance | — | — | ||||||||||
Net Long-term Deferred Tax Assets | $ | 251,613 | $ | 229,449 | ||||||||
The increase in net deferred tax assets from December 31, 2012 to December 31, 2013 was primarily attributable to an increase in the tax basis of the tangible and intangible assets of Evercore LP, which resulted from the 2013 LP Unit exchanges. During 2013, the LP holders exchanged 1,930 LP Units for Class A Shares, which resulted in an increase in the tax basis of the tangible and intangible assets of Evercore LP. Further, the exchange of 1,377 of such LP Units triggered an additional liability under the tax receivable agreement that was entered into in 2006 between the Company and the LP Unit holders. The agreement provides for a payment to the LP Unit holders of 85% of the cash tax savings (if any), resulting from the increased tax benefits from the exchange and for the Company to retain 15% of such benefits. Accordingly, Deferred Tax Assets – Non-Current, Amounts Due Pursuant to Tax Receivable Agreements and Additional Paid-In-Capital increased $31,534, $26,804 and $4,730, respectively, on the Company’s Consolidated Statement of Financial Condition as of December 31, 2013. See Note 14 for further discussion. | ||||||||||||
Additionally, the increase in net deferred tax assets from December 31, 2012 to December 31, 2013 was also attributable to an increase of $5,777 in compensation benefit and an increase of $5,931 related to the depreciation of fixed assets and amortization of intangible assets. | ||||||||||||
The Company reported an increase in deferred tax assets of $182 associated with changes in Unrealized Gain (Loss) on Marketable Securities and a decrease of $307 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss) for the year ended December 31, 2013. The Company reported a decrease in deferred tax assets of $111 associated with changes in Unrealized Gain (Loss) on Marketable Securities and a decrease of $1,870 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss) for the year ended December 31, 2012. | ||||||||||||
In 2012, the Company has concluded that it is more likely than not to utilize its deferred tax asset and has reversed its valuation allowance. This determination was based on the impact of the strong positive evidence in the period related to the 2012 earnings and increases in projections of future income on management’s weighing of the positive and negative evidence. | ||||||||||||
The Company’s net operating loss and tax credit carryforwards primarily relate to carryforwards of $2,398 in the UK at December 31, 2013, which may be carried forward indefinitely, subject to various limitations. | ||||||||||||
A reconciliation of the changes in tax positions for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Beginning unrecognized tax benefit | $ | 98 | $ | 1,109 | $ | 2,012 | ||||||
Additions for tax positions of prior years | 526 | — | 98 | |||||||||
Lapse of Statute of Limitations | — | (1,011 | ) | (1,001 | ) | |||||||
Ending unrecognized tax benefit | $ | 624 | $ | 98 | $ | 1,109 | ||||||
Included in the balance of unrecognized tax benefits at December 31, 2013, are $474 of tax benefits that, if recognized, would affect the effective tax rate. The Company recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense. The Company recognized $166 of interest and penalties during the year ended December 31, 2013. The Company has $215 accrued for the payment of interest and penalties as of December 31, 2013. The Company recognized $16 of interest and penalties during the year ended December 31, 2012. The Company has $49 accrued for the payment of interest and penalties as of December 31, 2012. In 2012, the Company recognized tax benefits of ($603) for penalties and interest associated with the lapse of the statute of limitations | ||||||||||||
The Company does not anticipate a significant change in unrecognized tax positions as a result of the settlement of income tax audits or lapses in the statute of limitations during the next year. | ||||||||||||
The Company is subject to taxation in the U.S. and various state, local and foreign jurisdictions. The Company’s tax years for 2010 to present are subject to examination by the taxing authorities. The Company is currently under examination by New York City for tax years 2008 through 2010. With a few exceptions, the Company is no longer subject to U.S. federal, state, local or foreign examinations by taxing authorities for years before 2010. |
Concentrations_of_Credit_Risk
Concentrations of Credit Risk | 12 Months Ended |
Dec. 31, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Concentrations of Credit Risk | ' |
Concentrations of Credit Risk | |
Financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, foreign government obligations and receivables from clients. The Company has placed substantially all of its Cash and Cash Equivalents in interest-bearing deposits in U.S. commercial banks and U.S. investment banks that meet certain rating and capital requirements. The Company’s foreign subsidiaries maintain substantially all of their Cash and Cash Equivalents in interest bearing accounts at large commercial banking institutions domiciled in their respective countries of operation. Concentrations of credit risk are limited due to the quality of the Company’s clients. | |
Credit Risks | |
The Company maintains its cash and cash equivalents with financial institutions with high credit ratings. At times, the Company may maintain deposits in federally insured financial institutions in excess of federally insured (“FDIC”) limits. However, the Company believes that it is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. | |
As of December 31, 2013, the Company has securities purchased under agreements to resell of $19,134 for which the Company has received collateral with a fair value of $19,112. Additionally, the Company has securities sold under agreements to repurchase of $75,563, for which the Company has pledged collateral with a fair value of $75,708. The Company has established risk management procedures to monitor the exposure to concentrations of credit from Securities Purchased Under Agreements to Resell. The collateral for the receivables is primarily secured by Mexican government bonds and the Company monitors the collateral pledged under these agreements against their contract value from inception to maturity date. | |
Accounts Receivable consists primarily of advisory fees and expense reimbursements billed to clients. Receivables are reported net of any allowance for doubtful accounts. The Company maintains an allowance for bad debts to provide coverage for probable losses from customer receivables and derives the estimate through specific identification for the allowance for doubtful accounts and an assessment of the client’s creditworthiness. At December 31, 2013 and 2012 total receivables amounted to $83,347 and $89,098, respectively, net of an allowance. The Investment Banking and Investment Management receivables collection periods generally are within 90 days of invoice. The collection period for restructuring transactions and private equity fee receivables may exceed 90 days. The Company recorded bad debt expense of approximately $2,099, $1,803 and $1,558 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
With respect to the Company’s Marketable Securities portfolio, which is comprised of highly-rated corporate and municipal bonds, mutual funds and Seed Capital Investments, the Company manages its credit risk exposure by limiting concentration risk and maintaining investment grade credit quality. As of December 31, 2013, the Company had Marketable Securities of $43,407, of which 52% were corporate and municipal securities, primarily with S&P ratings ranging from AAA to BB+, and 48% were Seed Capital Investments and mutual funds. | |
Periodically, the Company provides compensation to new and existing employees in the form of loans and/or other cash awards, which include a requirement of either full or partial repayment of these awards based on the terms of their employment agreements with the Company. See Share-Based and Other Deferred Compensation footnote for further information. |
Segment_Operating_Results
Segment Operating Results | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Segment Operating Results | ' | |||||||||||
Segment Operating Results | ||||||||||||
Business Segments – The Company’s business results are categorized into the following two segments: Investment Banking and Investment Management. Investment Banking includes providing advice to clients on significant mergers, acquisitions, divestitures and other strategic corporate transactions, as well as services related to securities underwriting, private fund placement services and commissions for agency-based equity trading services and equity research. Investment Management includes advising third-party investors in the Institutional Asset Management, Wealth Management and Private Equity sectors. On December 28, 2012, the Company, through EWM, acquired Mt. Eden, which is included in the Investment Management segment. On December 3, 2013, the Company sold its investment in Pan and the results are presented within Discontinued Operations. The following segment information reflects the Company's results from its continuing operations. | ||||||||||||
The Company’s segment information for the years ended December 31, 2013, 2012 and 2011 is prepared using the following methodology: | ||||||||||||
• | Revenue, expenses and income (loss) from equity method investments directly associated with each segment are included in determining pre-tax income. | |||||||||||
• | Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including headcount, square footage and other performance and time-based factors. | |||||||||||
• | Segment assets are based on those directly associated with each segment, or for certain assets shared across segments; those assets are allocated based on the most relevant measures applicable, including headcount and other factors. | |||||||||||
• | Investment gains and losses, interest income and interest expense are allocated between the segments based on the segment in which the underlying asset or liability is held. | |||||||||||
Each segment’s Operating Expenses include: a) employee compensation and benefits expenses that are incurred directly in support of the segment and b) non-compensation expenses, which include expenses for premises and occupancy, professional fees, travel and entertainment, communications and information services, equipment and indirect support costs (including compensation and other operating expenses related thereto) for administrative services. Such administrative services include, but are not limited to, accounting, tax, legal, facilities management and senior management activities. Other Expenses include: a) amortization costs associated with the modification and vesting of LP Units and certain other awards, b) charges associated with the vesting of Event-based Awards, c) the amortization of intangible assets associated with certain acquisitions, d) Special Charges incurred related to the impairment of intangible assets from Morse, Williams and Company, Inc. in 2013, Special Charges incurred in connection with exiting facilities in the UK in 2012 and Special Charges related to the Lexicon acquisition, including the exiting of facilities for office space in the UK, an introducing fee as well as other professional fees incurred by Lexicon in 2011 and e) compensation charges associated with deferred consideration, retention awards and related compensation for Lexicon employees. | ||||||||||||
The Company evaluates segment results based on net revenues and pre-tax income, both including and excluding the impact of the Other Expenses. | ||||||||||||
The following information presents each segment’s contribution. | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Investment Banking | ||||||||||||
Net Revenues (1) | $ | 670,785 | $ | 565,219 | $ | 428,124 | ||||||
Operating Expenses | 516,921 | 444,510 | 337,886 | |||||||||
Other Expenses (2) | 33,740 | 50,774 | 55,591 | |||||||||
Operating Income | 120,124 | 69,935 | 34,647 | |||||||||
Income from Equity Method Investments | 2,906 | 2,258 | 1,101 | |||||||||
Pre-Tax Income from Continuing Operations | $ | 123,030 | $ | 72,193 | $ | 35,748 | ||||||
Identifiable Segment Assets | $ | 693,890 | $ | 624,977 | $ | 530,008 | ||||||
Investment Management | ||||||||||||
Net Revenues (1) | $ | 94,643 | $ | 77,154 | $ | 96,140 | ||||||
Operating Expenses | 81,885 | 78,876 | 89,269 | |||||||||
Other Expenses (2) | 2,707 | 2,678 | 5,706 | |||||||||
Operating Income (Loss) | 10,051 | (4,400 | ) | 1,165 | ||||||||
Income (Loss) from Equity Method Investments | 5,420 | 2,594 | (182 | ) | ||||||||
Pre-Tax Income (Loss) from Continuing Operations | $ | 15,471 | $ | (1,806 | ) | $ | 983 | |||||
Identifiable Segment Assets | $ | 486,893 | $ | 520,241 | $ | 513,584 | ||||||
Total | ||||||||||||
Net Revenues (1) | $ | 765,428 | $ | 642,373 | $ | 524,264 | ||||||
Operating Expenses | 598,806 | 523,386 | 427,155 | |||||||||
Other Expenses (2) | 36,447 | 53,452 | 61,297 | |||||||||
Operating Income | 130,175 | 65,535 | 35,812 | |||||||||
Income from Equity Method Investments | 8,326 | 4,852 | 919 | |||||||||
Pre-Tax Income from Continuing Operations | $ | 138,501 | $ | 70,387 | $ | 36,731 | ||||||
Identifiable Segment Assets | $ | 1,180,783 | $ | 1,145,218 | $ | 1,043,592 | ||||||
-1 | Net revenues include Other Revenue, net, allocated to the segments as follows: | |||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Investment Banking (A) | $ | 3,979 | $ | (3,019 | ) | $ | (2,473 | ) | ||||
Investment Management (B) | (1,116 | ) | (2,636 | ) | (3,021 | ) | ||||||
Total Other Revenue, net | $ | 2,863 | $ | (5,655 | ) | $ | (5,494 | ) | ||||
(A) | Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013. | |||||||||||
(B) | Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013. | |||||||||||
-2 | Other Expenses are as follows: | |||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Investment Banking | ||||||||||||
Amortization of LP Units and Certain Other Awards | $ | 17,817 | $ | 18,601 | $ | 21,328 | ||||||
Vesting of Event-based Awards | — | — | 8,906 | |||||||||
Acquisition Related Compensation Charges | 15,923 | 28,163 | 14,618 | |||||||||
Special Charges | — | 662 | 3,894 | |||||||||
Intangible Asset Amortization | — | 3,348 | 6,845 | |||||||||
Total Investment Banking | 33,740 | 50,774 | 55,591 | |||||||||
Investment Management | ||||||||||||
Amortization of LP Units and Certain Other Awards | 2,209 | 2,350 | 2,892 | |||||||||
Vesting of Event-based Awards | — | — | 2,483 | |||||||||
Special Charges | 170 | — | — | |||||||||
Intangible Asset Amortization | 328 | 328 | 331 | |||||||||
Total Investment Management | 2,707 | 2,678 | 5,706 | |||||||||
Total Other Expenses | $ | 36,447 | $ | 53,452 | $ | 61,297 | ||||||
Geographic Information – The Company manages its business based on the profitability of the enterprise as a whole. | ||||||||||||
The Company’s revenues were derived from clients and private equity funds located and managed in the following geographical areas: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net Revenues: (1) | ||||||||||||
United States | $ | 532,615 | $ | 452,594 | $ | 387,063 | ||||||
Europe and Other | 145,267 | 151,261 | 112,049 | |||||||||
Latin America | 84,683 | 44,173 | 30,646 | |||||||||
Total | $ | 762,565 | $ | 648,028 | $ | 529,758 | ||||||
-1 | Excludes Other Revenue and Interest Expense. | |||||||||||
The substantial majority of the Company’s long-lived assets are located in the United States and the United Kingdom. |
Evercore_Partners_Inc_Parent_C
Evercore Partners Inc. (Parent Company Only) Financial Statements | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Text Block [Abstract] | ' | |||||||||||
Evercore Partners Inc. (Parent Company Only) Financial Statements | ' | |||||||||||
Evercore Partners Inc. (Parent Company Only) Financial Statements | ||||||||||||
EVERCORE PARTNERS INC. | ||||||||||||
(parent company only) | ||||||||||||
CONDENSED STATEMENTS OF FINANCIAL CONDITION | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
ASSETS | ||||||||||||
Equity Investment in Subsidiary | $ | 531,380 | $ | 490,856 | ||||||||
Deferred Tax Asset | 254,486 | 225,741 | ||||||||||
Other Assets | 6,656 | — | ||||||||||
TOTAL ASSETS | $ | 792,522 | $ | 716,597 | ||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||
Liabilities | ||||||||||||
Payable to Related Party | $ | 8,881 | $ | 7,282 | ||||||||
Taxes Payable | — | 11,872 | ||||||||||
Amounts Due Pursuant to Tax Receivable Agreement | 175,771 | 165,350 | ||||||||||
Long-term Debt - Notes Payable | 103,226 | 101,375 | ||||||||||
Other Liabilities | 2,063 | 2,212 | ||||||||||
TOTAL LIABILITIES | 289,941 | 288,091 | ||||||||||
Stockholders' Equity | ||||||||||||
Common Stock | ||||||||||||
Class A, par value $0.01 per share (1,000,000,000 shares authorized, 40,772,434 and 35,040,501 issued at December 31, 2013 and 2012, respectively, and 33,069,534 and 29,576,986 outstanding at December 31, 2013 and 2012, respectively) | 408 | 350 | ||||||||||
Class B, par value $0.01 per share (1,000,000 shares authorized, 42 and 43 issued and outstanding at December 31, 2013 and 2012, respectively) | — | — | ||||||||||
Additional Paid-In-Capital | 799,233 | 654,275 | ||||||||||
Accumulated Other Comprehensive Income (Loss) | (10,784 | ) | (9,086 | ) | ||||||||
Retained Earnings (Deficit) | (59,896 | ) | (77,079 | ) | ||||||||
Treasury Stock at Cost (7,702,900 and 5,463,515 shares at December 31, 2013 and 2012, respectively) | (226,380 | ) | (139,954 | ) | ||||||||
TOTAL STOCKHOLDERS' EQUITY | 502,581 | 428,506 | ||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 792,522 | $ | 716,597 | ||||||||
See notes A to E to parent company only financial statements. | ||||||||||||
EVERCORE PARTNERS INC. | ||||||||||||
(parent company only) | ||||||||||||
CONDENSED STATEMENTS OF OPERATIONS | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
REVENUES | ||||||||||||
Interest Income | $ | 14,993 | $ | 7,955 | $ | 7,817 | ||||||
TOTAL REVENUES | 14,993 | 7,955 | 7,817 | |||||||||
Interest Expense | 8,088 | 7,955 | 7,817 | |||||||||
NET REVENUES | 6,905 | — | — | |||||||||
EXPENSES | ||||||||||||
TOTAL EXPENSES | — | — | — | |||||||||
OPERATING INCOME | 6,905 | — | — | |||||||||
Equity in Income of Subsidiary | 87,317 | 53,229 | 21,083 | |||||||||
Provision for Income Taxes | 40,960 | 24,340 | 14,131 | |||||||||
NET INCOME | $ | 53,262 | $ | 28,889 | $ | 6,952 | ||||||
See notes A to E to parent company only financial statements. | ||||||||||||
EVERCORE PARTNERS INC. | ||||||||||||
(parent company only) | ||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||
Net Income | $ | 53,262 | $ | 28,889 | $ | 6,952 | ||||||
Undistributed Income of Subsidiary | (87,317 | ) | (53,229 | ) | (21,083 | ) | ||||||
Deferred Taxes | (28,745 | ) | — | — | ||||||||
Accretion on Long-term Debt | 1,851 | 1,711 | 1,582 | |||||||||
(Increase) Decrease in Operating Assets: | ||||||||||||
Other Assets | (6,656 | ) | 14,310 | 12,105 | ||||||||
Increase (Decrease) in Operating Liabilities: | ||||||||||||
Payable to Uncombined Affiliates | — | — | 957 | |||||||||
Taxes Payable | 11,872 | 11,872 | — | |||||||||
Other Liabilities | 1,706 | (3,101 | ) | (574 | ) | |||||||
Net Cash Provided by (Used in) Operating Activities | (54,027 | ) | 452 | (61 | ) | |||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||
Cash Paid for Acquisitions, net of cash acquired | — | — | (30,397 | ) | ||||||||
Investment in Subsidiary | 90,949 | 24,239 | (22,994 | ) | ||||||||
Net Cash Provided by (Used in) Investing Activities | 90,949 | 24,239 | (53,391 | ) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||
Proceeds from Equity Offering | — | — | 168,140 | |||||||||
Purchase of Evercore LP Units | (6,832 | ) | (395 | ) | (95,342 | ) | ||||||
Dividends | (30,090 | ) | (24,296 | ) | (19,346 | ) | ||||||
Net Cash Provided by (Used in) Financing Activities | (36,922 | ) | (24,691 | ) | 53,452 | |||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | — | — | — | |||||||||
CASH AND CASH EQUIVALENTS—Beginning of Year | — | — | — | |||||||||
CASH AND CASH EQUIVALENTS—End of Year | $ | — | $ | — | $ | — | ||||||
See notes A to E to parent company only financial statements. | ||||||||||||
EVERCORE PARTNERS INC. | ||||||||||||
(parent company only) | ||||||||||||
NOTES TO CONDENSED FINANCIAL STATEMENTS | ||||||||||||
Note A – Organization | ||||||||||||
Evercore Partners Inc. (the “Company”) was incorporated as a Delaware corporation on July 21, 2005. The Company did not begin meaningful operations until the reorganization discussed below. Pursuant to a reorganization into a holding company structure, the Company became a holding company and its sole asset is a controlling equity interest in Evercore LP. As the sole general partner of Evercore LP, the Company operates and controls all of the business and affairs of Evercore LP and, through Evercore LP and its subsidiaries, continues to conduct the business now conducted by these subsidiaries. | ||||||||||||
Note B – Significant Accounting Policies | ||||||||||||
Basis of Presentation. The Statements of Financial Condition, Operations and Cash Flows have been prepared in accordance with U.S. GAAP. | ||||||||||||
Equity in Income of Subsidiary. The Equity in Income of Subsidiary represents the Company’s share of income from Evercore LP. | ||||||||||||
Note C – Stockholders’ Equity | ||||||||||||
The Company is authorized to issue 1,000,000 Class A Shares, par value $0.01 per share, and 1,000 shares of Class B common stock, par value $0.01 per share. All Class A Shares and shares of Class B common stock vote together as a single class. At December 31, 2013, the Company has issued 40,772 Class A Shares. The Company canceled three shares and granted two shares of Class B common stock in exchange for $1.00, which were held by certain limited partners of Evercore LP during the twelve months ended December 31, 2013. During 2013, the Company purchased 983 Class A Shares primarily from employees at values ranging from $22.24 to $55.12 per share primarily for the net settlement of stock-based compensation awards and 1,298 Class A Shares at market values ranging from $36.00 to $41.00 per share pursuant to the Company’s share repurchase program. The result of these purchases was an increase in Treasury Stock of $87,620 on the Company’s Statement of Financial Condition as of December 31, 2013. During 2013, the Company issued 39 Class A Shares from treasury stock as payment of contingent consideration in connection with the MJC Associates Agreement and 3 Class A Shares to a former employee. The result of these issuances was a decrease in Treasury stock of $1,194 on the Company's Statement of Financial Condition as of December 31, 2013. During the year ended December 31, 2013, the Company declared and paid dividends of $0.91 per share, totaling $30,090 which were wholly funded by the Company’s sole subsidiary, Evercore LP. | ||||||||||||
As discussed in Note 17 to the consolidated financial statements, both the LP Units and RSUs are exchangeable into Class A Shares on a one-for-one basis once vested. | ||||||||||||
Note D – Issuance of Notes Payable and Warrants | ||||||||||||
On August 21, 2008, the Company entered into a Purchase Agreement with Mizuho pursuant to which Mizuho purchased from the Company Senior Notes and Warrants expiring 2020. See Note 12 to the consolidated financial statements. | ||||||||||||
Note E – Commitments and Contingencies | ||||||||||||
As of December 31, 2013, as discussed in Note 12 to the consolidated financial statements, the Company estimates the contractual obligations related to the Senior Notes to be $163,680. Pursuant to the Senior Notes, we expect to make payments to the notes’ holder of $6,240 within one year or less, $12,480 in one to three years, $12,480 in three to five years and $132,480 after five years. | ||||||||||||
As of December 31, 2013, as discussed in Note 18 to the consolidated financial statements, the Company estimates the contractual obligations related to the Tax Receivable Agreements to be $184,643. The company expects to pay to the counterparties to the Tax Receivable Agreement $8,872 within one year or less, $29,928 in one to three years, $33,330 in three to five years and $112,513 after five years. Interest Income on the Company's Statement of Operations includes $6,905 from changes in amounts due pursuant to the Company's tax receivable agreement for the year ended December 31, 2013. |
SUPPLEMENTAL_FINANCIAL_INFORMA
SUPPLEMENTAL FINANCIAL INFORMATION | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
SUPPLEMENTAL FINANCIAL INFORMATION | ' | |||||||||||||||
SUPPLEMENTAL FINANCIAL INFORMATION | ||||||||||||||||
(dollars in thousands, except per share data) | ||||||||||||||||
Consolidated Quarterly Results of Operations (unaudited) | ||||||||||||||||
The following represents the Company’s unaudited quarterly results for the years ended December 31, 2013 and 2012. These quarterly results were prepared in accordance with U.S. GAAP and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. The amounts below reflect the reclassification of the historical results of Pan to Discontinued Operations. | ||||||||||||||||
For the Three Months Ended | ||||||||||||||||
December 31, | September 30, | June 30, | March 31, | |||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||
Net Revenues | $ | 218,672 | $ | 187,328 | $ | 206,797 | $ | 152,631 | ||||||||
Total Expenses | 174,796 | 155,460 | 168,616 | 136,381 | ||||||||||||
Income Before Income from Equity Method Investments and Income Taxes | 43,876 | 31,868 | 38,181 | 16,250 | ||||||||||||
Income from Equity Method Investments | 5,993 | 562 | 1,015 | 756 | ||||||||||||
Income Before Income Taxes | 49,869 | 32,430 | 39,196 | 17,006 | ||||||||||||
Provision for Income Taxes | 26,474 | 12,350 | 17,130 | 7,735 | ||||||||||||
Net Income from Continuing Operations | 23,395 | 20,080 | 22,066 | 9,271 | ||||||||||||
Net Income (Loss) from Discontinued Operations | (16 | ) | (1,826 | ) | (55 | ) | (893 | ) | ||||||||
Net Income | 23,379 | 18,254 | 22,011 | 8,378 | ||||||||||||
Net Income Attributable to Noncontrolling Interest | 6,474 | 4,292 | 5,585 | 2,409 | ||||||||||||
Net Income Attributable to Evercore Partners Inc. | $ | 16,905 | $ | 13,962 | $ | 16,426 | $ | 5,969 | ||||||||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.51 | $ | 0.47 | $ | 0.52 | $ | 0.2 | ||||||||
From Discontinued Operations | — | (0.04 | ) | — | (0.01 | ) | ||||||||||
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.51 | $ | 0.43 | $ | 0.52 | $ | 0.19 | ||||||||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.42 | $ | 0.39 | $ | 0.44 | $ | 0.17 | ||||||||
From Discontinued Operations | — | (0.03 | ) | — | (0.01 | ) | ||||||||||
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.42 | $ | 0.36 | $ | 0.44 | $ | 0.16 | ||||||||
Dividends Declared Per Share of Class A Common Stock | $ | 0.25 | $ | 0.22 | $ | 0.22 | $ | 0.22 | ||||||||
For the Three Months Ended | ||||||||||||||||
December 31, | September 30, | June 30, | March 31, | |||||||||||||
2012 | 2012 | 2012 | 2012 | |||||||||||||
Net Revenues | $ | 214,049 | $ | 153,029 | $ | 172,497 | $ | 102,798 | ||||||||
Total Expenses | 171,811 | 138,784 | 151,302 | 114,941 | ||||||||||||
Income (Loss) Before Income from Equity Method Investments and Income Taxes | 42,238 | 14,245 | 21,195 | (12,143 | ) | |||||||||||
Income from Equity Method Investments | 1,333 | 415 | 719 | 2,385 | ||||||||||||
Income (Loss) Before Income Taxes | 43,571 | 14,660 | 21,914 | (9,758 | ) | |||||||||||
Provision (Benefit) for Income Taxes | 18,586 | 7,187 | 9,773 | (4,638 | ) | |||||||||||
Net Income (Loss) from Continuing Operations | 24,985 | 7,473 | 12,141 | (5,120 | ) | |||||||||||
Net Income (Loss) from Discontinued Operations | — | — | — | — | ||||||||||||
Net Income (Loss) | 24,985 | 7,473 | 12,141 | (5,120 | ) | |||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 5,963 | 2,172 | 4,207 | (1,752 | ) | |||||||||||
Net Income (Loss) Attributable to Evercore Partners Inc. | $ | 19,022 | $ | 5,301 | $ | 7,934 | $ | (3,368 | ) | |||||||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.64 | $ | 0.18 | 0.27 | $ | (0.12 | ) | ||||||||
From Discontinued Operations | — | — | — | — | ||||||||||||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.64 | $ | 0.18 | $ | 0.27 | $ | (0.12 | ) | |||||||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.56 | $ | 0.17 | $ | 0.25 | $ | (0.12 | ) | |||||||
From Discontinued Operations | — | — | — | — | ||||||||||||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.56 | $ | 0.17 | $ | 0.25 | $ | (0.12 | ) | |||||||
Dividends Declared Per Share of Class A Common Stock | $ | 0.22 | $ | 0.2 | $ | 0.2 | $ | 0.2 | ||||||||
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation – The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |
The consolidated financial statements of the Company are comprised of the consolidation of Evercore LP and Evercore LP’s wholly-owned and majority-owned direct and indirect subsidiaries, including Evercore Group L.L.C. (“EGL”), a registered broker-dealer in the U.S. The Company’s policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities (“VIEs”) where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE, except for certain VIEs that qualify for accounting purposes as investment companies. The Company reviews factors, including the rights of the equity holders and obligations of equity holders to absorb losses or receive expected residual returns, to determine if the investment is a VIE. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly or indirectly by the Company. The consolidation analysis is generally performed qualitatively. This analysis, which requires judgment, is performed at each reporting date. | |
In February 2010, Accounting Standards Update (“ASU”) No. 2010-10, “Amendments for Certain Investment Funds”, was issued. This ASU defers the application of the revised consolidation rules for a reporting entity’s interest in an entity if certain conditions are met, including if the entity has the attributes of an investment company and is not a securitization or asset-backed financing entity. An entity that qualifies for the deferral will continue to be assessed for consolidation under the overall guidance on VIEs, before its amendment, and other applicable consolidation guidance. Generally, the Company would consolidate those entities when it absorbs a majority of the expected losses or a majority of the expected residual returns, or both, of the entities. | |
For entities (principally funds) that the Company has concluded are not VIEs, the Company then evaluates whether the fund is a partnership or similar entity. If the fund is a partnership or similar entity, the Company evaluates the fund under the partnership consolidation guidance. Pursuant to that guidance, the Company consolidates funds in which it is the general partner and/or manages through a contract, unless presumption of control by the Company can be overcome. This presumption is overcome only when unrelated investors in the fund have the substantive ability to liquidate the fund or otherwise remove the Company as the general partner without cause, based on a simple majority vote of unaffiliated investors, or have other substantive participating rights. If the presumption of control can be overcome, the Company accounts for its interest in the fund pursuant to the equity method of accounting. | |
All intercompany balances and transactions with the Company’s subsidiaries have been eliminated upon consolidation. | |
At the time of the formation transaction, the members of Evercore LP (the “Members”) received Evercore LP partnership units (“LP Units”) in consideration for their contribution of the various entities included in the historical combined financial statements of the Company. The LP Units are subject to vesting requirements and transfer restrictions and are exchangeable on a one-for-one basis for shares of Class A common stock (“Class A Shares”). The Company accounts for exchanges of LP Units for Class A Shares based on the carrying amounts of the Members’ LP Units immediately before the exchange. | |
The Company’s interest in Evercore LP is within the scope of Accounting Standards Codification (“ASC”) 810-20, “Determining Whether a General Partner, or the General Partners as a Group, Controls a Limited Partnership or Similar Entity When the Limited Partners Have Certain Rights”. The Company consolidates Evercore LP and records noncontrolling interest for the economic interest in Evercore LP held directly by others, which includes the Members. | |
Accounts Receivable | ' |
Accounts Receivable – Accounts Receivable consists primarily of investment banking fees and expense reimbursements charged to the Company’s clients. The Company records Accounts Receivable net of any allowance for doubtful accounts. The Company maintains an allowance for bad debts to provide coverage for estimated losses from its client receivables. The Company determines the adequacy of the allowance by estimating the probability of loss based on the Company’s analysis of the client’s creditworthiness and specifically reserves against exposure where the Company determines the receivables are impaired, which may include situations where a fee is in dispute or litigation has commenced. | |
Furniture, Equipment and Leasehold Improvements | ' |
Furniture, Equipment and Leasehold Improvements – Fixed assets, including office equipment, hardware and software and leasehold improvements, are stated at cost, net of accumulated depreciation and amortization. Furniture, equipment and computer hardware and software are depreciated using the straight-line method over the estimated useful lives of the assets, ranging from three to seven years. Leasehold improvements are amortized over the shorter of the term of the lease or the useful life of the asset. | |
Revenue Recognition | ' |
Investment Banking Revenue – The Company earns investment banking fees from clients for providing advisory services on mergers, acquisitions, divestitures, leveraged buyouts, restructurings and similar corporate finance matters. The Company’s Investment Banking services also include services related to securities underwriting, private fund placement services and commissions for agency-based equity trading services and equity research. It is the Company’s accounting policy to recognize revenue when (i) there is persuasive evidence of an arrangement with a client, (ii) fees are fixed or determinable, (iii) the agreed-upon services have been completed and delivered to the client or the transaction or events contemplated in the engagement letter are determined to be substantially completed and (iv) collection is reasonably assured. The Company records Investment Banking Revenue on the Consolidated Statements of Operations for the following: | |
Advisory Fees – In general, advisory fees are paid at the time the Company signs an engagement letter, during the course of the engagement or when an engagement is completed. In some circumstances, and as a function of the terms of an engagement letter, the Company may receive retainer fees for financial advisory services concurrent with, or soon after, the execution of the engagement letter where the engagement letter will specify a future service period associated with that fee. In such circumstances, these retainer fees are initially recorded as deferred revenue, which is recorded in Other Current Liabilities on the Consolidated Statements of Financial Condition, and subsequently recognized as revenue on the Consolidated Statements of Operations during the applicable time period within which the service is rendered. Revenues related to fairness or valuation opinions are recognized when the opinion has been rendered and delivered to the client and all other requirements for revenue recognition are satisfied. Success fees for advisory services, such as merger and acquisition advice, are recognized when the transaction(s) or event(s) are determined to be completed or substantially completed and all other requirements for revenue recognition are satisfied. In the event the Company were to receive an opinion or success fee in advance of the completion conditions noted above, such fee would initially be recorded as deferred revenue and subsequently recognized as advisory fee revenue when the conditions of completion have been satisfied. | |
Placement Fees – Placement fee revenues are attributable to capital raising on both a primary and secondary basis. The Company recognizes placement advisory fees at the time of the client’s acceptance of capital or capital commitments in accordance with the terms of the engagement letter. | |
Underwriting Fees – Underwriting revenues are attributable to public and private offerings of equity and debt securities and are recognized when the offering has been deemed to be completed by the lead manager of the underwriting group. When the offering is completed, the Company recognizes the applicable management fee, selling concession and underwriting fee, the latter net of estimated offering expenses. | |
Commissions – Commissions received from customers for the execution of agency-based brokerage transactions in listed and over-the-counter equities are recorded on a trade-date basis or, in the case of payments under commission sharing arrangements, when earned. | |
Taxes collected from customers and remitted to governmental authorities are presented on a net basis on the Consolidated Statements of Operations. | |
Investment Management Revenue – The Company’s Investment Management business generates revenues from the management of client assets and the private equity funds. | |
Investment management fees for third-party clients are generally based on the value of the assets under management (“AUM”) and any performance fees that may be negotiated with the client. These fees are generally recognized over the period that the related services are provided, based upon the beginning, ending or average value of the assets for the relevant period. Fees paid in advance of services rendered are initially recorded as deferred revenue, which is recorded in Other Current Liabilities on the Consolidated Statements of Financial Condition, and are recognized in Investment Management Revenue on the Consolidated Statements of Operations ratably over the period in which the related service is rendered. Generally, to the extent performance fee arrangements have been negotiated, these fees are earned when the return on assets exceeds certain benchmark returns. Performance fees are accrued on a monthly basis and are not subject to adjustment once the measurement period ends (annually) and performance fees have been realized. | |
Management fees for private equity funds are contractual and are typically based on committed capital during the private equity funds’ investment period, and on invested capital, thereafter. Management fees are recognized ratably over the period during which services are provided. The management fees may provide for a management fee offset for certain portfolio company fees the Company earns. The Company also records performance fee revenue from the private equity funds when the returns on the private equity funds’ investments exceed certain threshold minimums. These performance fees, or carried interest, are computed in accordance with the underlying private equity funds’ partnership agreements and are based on investment performance over the life of each investment partnership. Performance fees are recorded as revenue as earned pursuant to the underlying agreements and policy elections of affiliated investment managers. | |
Fees generated for serving as an independent fiduciary and/or trustee are either based on a flat fee, are pre-negotiated with the client or are based on the value of assets under administration. For ongoing engagements, fees are billed quarterly either in advance or in arrears. Fees paid in advance of services rendered are initially recorded as deferred revenue in Other Current Liabilities on the Consolidated Statements of Financial Condition, and are recognized in Investment Management Revenue on the Consolidated Statements of Operations ratably over the period in which the related services are rendered. | |
Other Revenue, Including Interest and Interest Expense | ' |
Other Revenue, Including Interest and Interest Expense – Other Revenue, Including Interest and Interest Expense is derived primarily from financing transactions. These transactions are principally repurchases and resales of Mexican government securities. Revenue and expenses associated with these transactions are recognized over the term of the repurchase transaction. Other Revenue, Including Interest and Interest Expense also includes interest expense associated with the $120,000 principal amount of senior unsecured notes (“Senior Notes”), as well as income earned on marketable securities and cash deposited with financial institutions and changes in amounts due pursuant to the Company's tax receivable agreements. | |
Client Expense Reimbursement | ' |
Client Expense Reimbursement – In the conduct of its financial advisory service engagements and in advising the private equity funds, the Company receives reimbursement for certain expenses incurred by the Company on behalf of its clients and the funds. Transaction-related expenses, which are billable to clients, are recognized as revenue and recorded in Accounts Receivable on the later of the date of an executed engagement letter or the date the expense is incurred. | |
Noncontrolling Interest | ' |
Noncontrolling Interest – Noncontrolling interest recorded in the consolidated financial statements of the Company relates to the portions of the subsidiaries not owned by the Company. The Company allocates net income to noncontrolling interests held at Evercore LP and at the operating entity level, where required, by multiplying the vested equity ownership percentage of the noncontrolling interest holders for the period by the net income or loss for the entity which the noncontrolling interest relates. In circumstances where the governing documents of the entity to which the noncontrolling interest relates require special allocations of profits (losses) to the controlling and noncontrolling interest holders, then the net income or loss of these entities will be allocated based on these special allocations. | |
ASC 810, “Consolidation" (“ASC 810”) requires reporting entities to present noncontrolling (minority) interests as equity (as opposed to as a liability or mezzanine equity) and provides guidance on the accounting for transactions between an entity and noncontrolling interests. Noncontrolling Interest is presented as a component of Total Equity on the Consolidated Statements of Financial Condition and below Net Income on the Consolidated Statements of Operations. In addition, there is an allocation of the components of Total Comprehensive Income between controlling interests and noncontrolling interests for the years ended December 31, 2013, 2012 and 2011. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents – Cash and Cash Equivalents consist of short-term highly-liquid investments with original maturities of three months or less. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments – The majority of the Company’s assets and liabilities are recorded at fair value or at amounts that approximate fair value. Such assets and liabilities include cash and cash equivalents, investments, marketable securities, financial instruments owned and pledged as collateral, repurchase and reverse repurchase agreements, receivables and payables and accruals. See Note 10 for further information. | |
Marketable Securities | ' |
Marketable Securities – Marketable Securities include investments in corporate, municipal and other debt securities, as well as investments in readily-marketable equity securities, which are accounted for as available-for-sale under ASC 320-10, “Accounting for Certain Investments in Debt and Equity Securities”. These securities are carried at fair value on the Consolidated Statements of Financial Condition. Unrealized gains and losses are reported as net increases or decreases to Accumulated Other Comprehensive Income (Loss), net of tax, while realized gains and losses on these securities are determined using the specific identification method and are included in Other Revenue, Including Interest on the Consolidated Statements of Operations. The readily-marketable debt and equity securities are valued using quoted market prices on applicable exchanges or markets. Marketable Securities also include investments in municipal bonds held at EGL and mutual funds, which are carried at fair value, with changes in fair value recorded in Other Revenues, Including Interest on the Consolidated Statements of Operations. Marketable Securities transactions are recorded as of the trade date. | |
Financial Instruments Owned and Pledged as Collateral at Fair Value | ' |
Financial Instruments Owned and Pledged as Collateral at Fair Value – The Company’s Financial Instruments Owned and Pledged as Collateral at Fair Value consist principally of foreign government obligations, which are recorded on a trade-date basis and are stated at quoted market values. Related gains and losses are reflected in Other Revenue, Including Interest on the Consolidated Statements of Operations. The Company pledges the Financial Instruments Owned and Pledged as Collateral at Fair Value to collateralize certain financing arrangements, which permits the counterparty to pledge the securities. | |
Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase | ' |
Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase – Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase are treated as collateralized financing transactions. The agreements provide that the transferor will receive substantially the same securities in return at the maturity of the agreement. These transactions are carried at the amounts at which the related securities will be subsequently resold or repurchased, plus accrued interest payable or receivable. As the maturities on these transactions are short-term in nature (i.e. generally mature on the next business day) and the underlying securities are debt instruments of the Mexican Governments or its agencies, their carrying amounts approximate fair value. The Company periodically assesses the collectability or credit quality related to securities purchased under agreements to resell. | |
Investments | ' |
Investments – The Company’s investments include investments in private equity partnerships, the Company’s equity interests in G5 ǀ Evercore, ABS Investment Management, LLC (“ABS”) and Evercore Pan-Asset Capital Management (“Pan”, consolidated on March 15, 2013 and sold on December 3, 2013), which are accounted for under the equity method of accounting and Trilantic Capital Partners ("Trilantic"). | |
Private Equity – The investments of private equity funds consist primarily of investments in marketable and non-marketable securities of the portfolio companies. The underlying investments held by the private equity funds are valued based on quoted market prices or estimated fair value if there is no public market. The Company determines fair value of non-marketable securities by giving consideration to a range of factors, including but not limited to, market conditions, operating performance (current and projected) and subsequent financing transactions. Due to the inherent uncertainty in the valuation of these non-marketable securities, estimated values may materially differ from the values that would have been used had a ready market existed for these investments. Investments in publicly-traded securities held by the private equity funds are valued using quoted market prices. The Company recognizes its allocable share of the changes in fair value of the private equity funds’ underlying investments as realized and unrealized gains (losses) within Investment Management Revenue in the Consolidated Statements of Operations. | |
Affiliates – The Company’s equity interests in G5 ǀ Evercore, ABS and Pan (consolidated on March 15, 2013 and sold on December 3, 2013) include its share of the income (losses) within Income (Loss) from Equity Method Investments, as a component of Income Before Income Taxes, on the Consolidated Statements of Operations. | |
The Company assesses its Equity Method Investments annually for impairment, or more frequently if circumstances indicate impairment may have occurred. | |
The Company also maintains an investment in Trilantic. See Note 9 for further information. | |
Goodwill and Intangible Assets | ' |
Goodwill and Intangible Assets – Goodwill is tested for impairment annually, as of November 30th, or more frequently if circumstances indicate impairment may have occurred. The Company assesses whether any goodwill recorded by its applicable reporting unit is impaired by comparing the fair value of each reporting unit with its respective carrying amount. For acquired businesses, contingent consideration is recognized and measured at fair value as of the acquisition date and at subsequent reporting periods. | |
Intangible assets with finite lives are amortized over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable as prescribed by ASC 360, “Property, Plant, and Equipment” ("ASC 360"). | |
The Company tests goodwill for impairment at the reporting unit level. In determining the fair value for each reporting unit the Company utilizes either a market multiple approach or a discounted cash flow methodology based on the adjusted cash flows from operations, or a weighted combination of both a market multiple approach and discounted cash flow methodology. The market multiple approach includes applying the average earnings multiples of comparable public companies for their respective reporting unit multiplied by the forecasted earnings of the respective reporting unit to yield an estimate of fair value. The discounted cash flow methodology begins with the forecasted adjusted cash flows from each of the reporting units and uses a discount rate that reflects the weighted average cost of capital adjusted for the risks inherent in the future cash flows. | |
See Note 4 for further information. | |
Compensation and Benefits | ' |
Compensation and Benefits – Compensation includes salaries, bonuses (discretionary awards and guaranteed amounts), severance, deferred cash and share-based compensation. Cash bonuses are accrued over the respective service periods to which they relate and deferred cash and share-based bonuses are expensed prospectively over their requisite service period. | |
Share-Based Payments | ' |
Share-Based Payments –The Company accounts for share-based payments in accordance with ASC 718, “Compensation – Stock Compensation” (“ASC 718”). See Note 17 for further information. | |
Compensation expense recognized pursuant to share-based awards is based on the grant date fair value of the award. The fair value (as measured on the grant date) of awards that vest from one to five years (“Service-based Awards”) is amortized over the vesting periods or requisite service periods as required under ASC 718, however, the vesting of some Service-based Awards will accelerate upon the occurrence of certain events. The Company amortizes the grant-date fair value of share-based compensation awards made to employees, who are or will become retirement eligible prior to the stated vesting date, over the expected substantive service period. For the purposes of calculating diluted net income per share attributable to Evercore Partners Inc. common shareholders, unvested Service-based Awards are included in the diluted weighted average Class A Shares outstanding using the treasury stock method. Once vested, restricted stock units (“RSUs”) and restricted stock are included in the basic and diluted weighted average Class A Shares outstanding. Expense relating to RSUs and restricted stock is charged to Employee Compensation and Benefits within the Consolidated Statements of Operations. For a discussion of Event-based Awards, see Note 17. | |
Awards classified as liabilities as required under ASC 718, such as cash settled share-based awards, are re-measured at fair value at each reporting period. | |
Foreign Currency Translation | ' |
Foreign Currency Translation – Foreign currency assets and liabilities have been translated at rates of exchange prevailing at the end of the periods presented. Income and expenses transacted in foreign currency have been translated at average monthly exchange rates during the period. Translation gains and losses are included in the foreign currency translation adjustment as a component of Accumulated Other Comprehensive Income (Loss) in the Consolidated Statements of Changes in Equity and Other Comprehensive Income (Loss) in the Consolidated Statements of Comprehensive Income. Exchange gains and losses arising from translating intercompany balances of a long-term investment nature are recorded in the foreign currency translation account while transactional exchange gains and losses are included in Other Revenue, Including Interest on the Consolidated Statements of Operations. | |
Income Taxes | ' |
Income Taxes –The Company accounts for income taxes in accordance with ASC 740, “Income Taxes” (“ASC 740”), which requires the recognition of tax benefits or expenses on temporary differences between the financial reporting and tax bases of its assets and liabilities, as disclosed in Note 20. | |
Deferred income taxes reflect the net tax effects of temporary differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Such temporary differences are reflected on the Company’s Consolidated Statements of Financial Condition as deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. Significant management judgment is required in determining the Company’s provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against the Company’s net deferred tax assets. | |
ASC 740 provides a benefit recognition model with a two-step approach consisting of “more-likely-than-not” recognition criteria, and a measurement attribute that measures the position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. ASC 740 also requires the recognition of liabilities created by differences between tax positions taken in a tax return and amounts recognized in the financial statements. See Note 20 for further information. |
Business_Changes_and_Developme1
Business Changes and Developments (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||
Goodwill Associated with Acquisitions | ' | |||||||||||||||||||||||
Goodwill associated with the Company’s acquisitions is as follows: | ||||||||||||||||||||||||
Investment | Investment | Total | ||||||||||||||||||||||
Banking | Management | |||||||||||||||||||||||
Balance at December 31, 2011 | $ | 81,937 | $ | 95,912 | $ | 177,849 | ||||||||||||||||||
Acquisitions | — | 6,500 | 6,500 | |||||||||||||||||||||
Foreign Currency Translation and Other | 4,415 | (80 | ) | 4,335 | ||||||||||||||||||||
Balance at December 31, 2012 | 86,352 | 102,332 | 188,684 | |||||||||||||||||||||
Foreign Currency Translation and Other | 676 | (86 | ) | 590 | ||||||||||||||||||||
Balance at December 31, 2013 (1) | $ | 87,028 | $ | 102,246 | $ | 189,274 | ||||||||||||||||||
-1 | The balance includes the net effect of the goodwill related to the consolidation and disposition of Pan. | |||||||||||||||||||||||
Intangible Assets Associated with Acquisitions | ' | |||||||||||||||||||||||
Intangible assets associated with the Company’s acquisitions are as follows: | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | |||||||||||||||||||||||
Investment | Investment | Total | Investment | Investment | Total | |||||||||||||||||||
Banking | Management | Banking | Management | |||||||||||||||||||||
Client Related | $ | 2,300 | $ | 45,830 | $ | 48,130 | $ | 1,299 | $ | 22,559 | $ | 23,858 | ||||||||||||
Acquired Mandates | 1,810 | — | 1,810 | 1,786 | — | 1,786 | ||||||||||||||||||
Non-compete/Non-solicit Agreements | 135 | 1,949 | 2,084 | 94 | 1,314 | 1,408 | ||||||||||||||||||
Other | — | 2,245 | 2,245 | — | 486 | 486 | ||||||||||||||||||
Total | $ | 4,245 | $ | 50,024 | $ | 54,269 | $ | 3,179 | $ | 24,359 | $ | 27,538 | ||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | |||||||||||||||||||||||
Investment | Investment | Total | Investment | Investment | Total | |||||||||||||||||||
Banking | Management | Banking | Management | |||||||||||||||||||||
Client Related | $ | 2,300 | $ | 46,960 | $ | 49,260 | $ | 969 | $ | 16,412 | $ | 17,381 | ||||||||||||
Acquired Mandates | 1,810 | — | 1,810 | 1,324 | — | 1,324 | ||||||||||||||||||
Non-compete/Non-solicit Agreements | 135 | 1,949 | 2,084 | 67 | 920 | 987 | ||||||||||||||||||
Other | — | 2,245 | 2,245 | — | 310 | 310 | ||||||||||||||||||
Total | $ | 4,245 | $ | 51,154 | $ | 55,399 | $ | 2,360 | $ | 17,642 | $ | 20,002 | ||||||||||||
Annual Amortization of Intangibles for Next Five Years | ' | |||||||||||||||||||||||
Based on the intangible assets above, as of December 31, 2013, annual amortization of intangibles for each of the next five years is as follows: | ||||||||||||||||||||||||
2014 | $ | 5,526 | ||||||||||||||||||||||
2015 | $ | 3,864 | ||||||||||||||||||||||
2016 | $ | 3,510 | ||||||||||||||||||||||
2017 | $ | 3,120 | ||||||||||||||||||||||
2018 | $ | 3,034 | ||||||||||||||||||||||
Related_Parties_Tables
Related Parties (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Receivable from Employees and Related Parties | ' | |||||||
Receivable from Employees and Related Parties on the Consolidated Statements of Financial Condition consisted of the following at December 31, 2013 and 2012: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Advances to Employees | $ | 7,668 | $ | 3,624 | ||||
Personal Expenses Paid on Behalf of Employees and Related Parties | 72 | 213 | ||||||
Receivable from Affiliates | 578 | 390 | ||||||
Reimbursable Expenses Due From Portfolio Companies of the Company's Private Equity Funds | 127 | 409 | ||||||
Reimbursable Expenses Relating to the Private Equity Funds | 788 | 530 | ||||||
Receivable from Employees and Related Parties | $ | 9,233 | $ | 5,166 | ||||
Payable to Employees and Related Parties | ' | |||||||
Payable to Employees and Related Parties on the Consolidated Statements of Financial Condition consisted of the following at December 31, 2013 and 2012: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Board of Director Fees | $ | 266 | $ | 266 | ||||
Amounts Due to UK Members | 10,386 | 5,424 | ||||||
Amounts Due Pursuant to Tax Receivable Agreements (a) | 8,872 | 7,274 | ||||||
Payable to Employees and Related Parties | $ | 19,524 | $ | 12,964 | ||||
(a) | Relates to the current portion of the Member exchange of LP Units for Class A Shares. The long-term portion of $175,771 and $165,350 is disclosed in Amounts Due Pursuant to Tax Receivable Agreements on the Consolidated Statements of Financial Condition at December 31, 2013 and 2012, respectively. |
Marketable_Securities_Tables
Marketable Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||
Unrealized Gain (Loss) on Investments | ' | |||||||||||||||||||||||||||||||
The amortized cost and estimated fair value of the Company’s Marketable Securities as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||||
31-Dec-13 | December 31, 2012 | |||||||||||||||||||||||||||||||
Cost | Gross | Gross | Fair Value | Cost | Gross | Gross | Fair Value | |||||||||||||||||||||||||
Unrealized | Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | |||||||||||||||||||||||||||||
Securities Investments | $ | 11,268 | $ | 754 | $ | 623 | $ | 11,399 | $ | 10,172 | $ | 1,428 | $ | 20 | $ | 11,580 | ||||||||||||||||
Debt Securities Carried by EGL | 22,542 | 87 | 1 | 22,628 | 13,522 | 97 | — | 13,619 | ||||||||||||||||||||||||
Mutual Funds | 7,917 | 1,600 | 137 | 9,380 | 10,946 | 412 | 12 | 11,346 | ||||||||||||||||||||||||
Total | $ | 41,727 | $ | 2,441 | $ | 761 | $ | 43,407 | $ | 34,640 | $ | 1,937 | $ | 32 | $ | 36,545 | ||||||||||||||||
Investments Classified by Contractual Maturity Date | ' | |||||||||||||||||||||||||||||||
Scheduled maturities of the Company’s available-for-sale debt securities within the Securities Investments portfolio as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||||
31-Dec-13 | December 31, 2012 | |||||||||||||||||||||||||||||||
Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||||||||||
Cost | Cost | |||||||||||||||||||||||||||||||
Due within one year | $ | 306 | $ | 307 | $ | 658 | $ | 659 | ||||||||||||||||||||||||
Due after one year through five years | 1,250 | 1,264 | 1,415 | 1,437 | ||||||||||||||||||||||||||||
Due after five years through 10 years | 100 | 100 | 347 | 346 | ||||||||||||||||||||||||||||
Total | $ | 1,656 | $ | 1,671 | $ | 2,420 | $ | 2,442 | ||||||||||||||||||||||||
Financial_Instruments_Owned_an1
Financial Instruments Owned and Pledged as Collateral at Fair Value, Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||
Schedule Of Financial Instruments Owned And Pledged As Collateral Securities Purchased Under Agreements To Resell And Securities Sold Under Agreements To Repurchase | ' | |||||||||||||||
As of December 31, 2013 and 2012, a summary of the Company’s assets, liabilities and collateral received or pledged related to these transactions is as follows: | ||||||||||||||||
31-Dec-13 | December 31, 2012 | |||||||||||||||
Asset | Market Value of | Asset | Market Value of | |||||||||||||
(Liability) | Collateral Received | (Liability) | Collateral Received | |||||||||||||
Balance | or (Pledged) | Balance | or (Pledged) | |||||||||||||
Assets | ||||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value | $ | 56,311 | $ | 120,594 | ||||||||||||
Securities Purchased Under Agreements to Resell | 19,134 | $ | 19,112 | — | $ | — | ||||||||||
Total Assets | $ | 75,445 | $ | 120,594 | ||||||||||||
Liabilities | ||||||||||||||||
Securities Sold Under Agreements to Repurchase | $ | (75,563 | ) | $ | (75,708 | ) | $ | (120,787 | ) | $ | (121,029 | ) |
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Private Equity Funds [Member] | ' | |||||||
Schedule of Equity Method Investments [Line Items] | ' | |||||||
Schedule of Equity Method Investments | ' | |||||||
A summary of the Company’s investment in the private equity funds as of December 31, 2013 and 2012 was as follows: | ||||||||
31-Dec-13 | December 31, 2012 | |||||||
ECP II | $ | 3,251 | $ | 3,793 | ||||
Discovery Fund | 5,015 | 3,060 | ||||||
EMCP II | 11,125 | 10,400 | ||||||
EMCP III | 3,852 | 1,696 | ||||||
CSI Capital | 3,248 | 3,056 | ||||||
Trilantic IV | 4,356 | 4,573 | ||||||
Trilantic V | 1,532 | — | ||||||
Total Private Equity Funds | $ | 32,379 | $ | 26,578 | ||||
Other Equity Method Investments [Member] | ' | |||||||
Schedule of Equity Method Investments [Line Items] | ' | |||||||
Schedule of Equity Method Investments | ' | |||||||
A summary of the Company’s other investments accounted for under the equity method of accounting as of December 31, 2013 and 2012 was as follows: | ||||||||
31-Dec-13 | December 31, 2012 | |||||||
G5 ǀ Evercore | $ | 20,001 | $ | 19,720 | ||||
ABS | 47,559 | 46,851 | ||||||
Pan | — | 2,749 | ||||||
Total | $ | 67,560 | $ | 69,320 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Categorization of Investments and Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | |||||||||||||||||||
The following table presents the categorization of investments and certain other financial assets measured at fair value on a recurring basis as of December 31, 2013 and 2012: | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Level I | Level II | Level III | Total | |||||||||||||||||
Corporate Bonds, Municipal Bonds and Other Debt Securities (1) | $ | — | $ | 33,882 | $ | — | $ | 33,882 | ||||||||||||
Securities Investments (1) | 12,001 | 2,398 | — | 14,399 | ||||||||||||||||
Mutual Funds | 9,380 | — | — | 9,380 | ||||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value | 56,311 | — | — | 56,311 | ||||||||||||||||
Total Assets Measured At Fair Value | $ | 77,692 | $ | 36,280 | $ | — | $ | 113,972 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Level I | Level II | Level III | Total | |||||||||||||||||
Corporate Bonds, Municipal Bonds and Other Debt Securities (1) | $ | — | $ | 38,482 | $ | — | $ | 38,482 | ||||||||||||
Securities Investments | 9,138 | 2,442 | — | 11,580 | ||||||||||||||||
Mutual Funds | 11,346 | — | — | 11,346 | ||||||||||||||||
Financial Instruments Owned and Pledged as Collateral at Fair Value | 120,594 | — | — | 120,594 | ||||||||||||||||
Total Assets Measured At Fair Value | $ | 141,078 | $ | 40,924 | $ | — | $ | 182,002 | ||||||||||||
-1 | Includes $14,254 and $24,863 of treasury bills, municipal bonds and commercial paper classified within Cash and Cash Equivalents on the Consolidated Statements of Financial Condition as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||
Carrying Amount and Estimated Fair Value of Financial Instrument Assets and Liabilities which are Not Measured at Fair Value | ' | |||||||||||||||||||
The carrying amount and estimated fair value of the Company’s financial instrument assets and liabilities which are not measured at fair value on the Consolidated Statements of Financial Condition are listed in the tables below. | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Carrying | Estimated Fair Value | |||||||||||||||||||
Amount | Level I | Level II | Level III | Total | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 284,199 | $ | 284,199 | $ | — | $ | — | $ | 284,199 | ||||||||||
Securities Purchased Under Agreements to Resell | 19,134 | — | 19,134 | — | 19,134 | |||||||||||||||
Accounts Receivable | 83,347 | — | 83,347 | — | 83,347 | |||||||||||||||
Receivable from Employees and Related Parties | 9,233 | — | 9,233 | — | 9,233 | |||||||||||||||
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 | — | — | 10,200 | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Accounts Payable and Accrued Expenses | $ | 18,365 | $ | — | $ | 18,365 | $ | — | $ | 18,365 | ||||||||||
Securities Sold Under Agreements to Repurchase | 75,563 | — | 75,563 | — | 75,563 | |||||||||||||||
Payable to Employees and Related Parties | 19,524 | — | 19,524 | — | 19,524 | |||||||||||||||
Notes Payable | 103,226 | — | 127,425 | — | 127,425 | |||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Carrying | Estimated Fair Value | |||||||||||||||||||
Amount | Level I | Level II | Level III | Total | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 234,568 | $ | 234,568 | $ | — | $ | — | $ | 234,568 | ||||||||||
Accounts Receivable | 89,098 | — | 89,098 | — | 89,098 | |||||||||||||||
Receivable from Employees and Related Parties | 5,166 | — | 5,166 | — | 5,166 | |||||||||||||||
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 | — | — | 10,200 | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Accounts Payable and Accrued Expenses | $ | 17,909 | $ | — | $ | 17,909 | $ | — | $ | 17,909 | ||||||||||
Securities Sold Under Agreements to Repurchase | 120,787 | — | 120,787 | — | 120,787 | |||||||||||||||
Payable to Employees and Related Parties | 12,964 | — | 12,964 | — | 12,964 | |||||||||||||||
Notes Payable | 101,375 | — | 136,860 | — | 136,860 | |||||||||||||||
Furniture_Equipment_and_Leaseh1
Furniture, Equipment and Leasehold Improvements (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Furniture, Equipment and Leasehold Improvements | ' | |||||||
Furniture, Equipment and Leasehold Improvements consisted of the following: | ||||||||
31-Dec-13 | 31-Dec-12 | |||||||
Furniture and Office Equipment | $ | 9,366 | $ | 8,891 | ||||
Leasehold Improvements | 32,719 | 30,884 | ||||||
Computer and Computer-related Equipment | 11,739 | 9,882 | ||||||
Total | 53,824 | 49,657 | ||||||
Less: Accumulated Depreciation and Amortization | (25,992 | ) | (19,880 | ) | ||||
Furniture, Equipment and Leasehold Improvements, Net | $ | 27,832 | $ | 29,777 | ||||
Issuance_of_Notes_Payable_and_1
Issuance of Notes Payable and Warrants (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Notes Payable [Abstract] | ' | |||
Schedule Of Future Payments On Senior Notes | ' | |||
As of December 31, 2013, the future payments required on the Senior Notes, including principal and interest were as follows: | ||||
2014 | $ | 6,240 | ||
2015 | 6,240 | |||
2016 | 6,240 | |||
2017 | 6,240 | |||
2018 | 6,240 | |||
Thereafter | 132,480 | |||
Total | $ | 163,680 | ||
Noncontrolling_Interest_Tables
Noncontrolling Interest (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||
Changes In Noncontrolling Interest | ' | |||||||||||
Changes in Noncontrolling Interest for the years ended December 31, 2013, 2012 and 2011 were as follows: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Beginning balance | $ | 62,243 | $ | 58,162 | $ | 66,542 | ||||||
Comprehensive income (loss) | ||||||||||||
Operating income | 18,760 | 10,590 | 3,579 | |||||||||
Other comprehensive income (loss) | (228 | ) | 1,269 | (2,218 | ) | |||||||
Total comprehensive income | 18,532 | 11,859 | 1,361 | |||||||||
Other items | ||||||||||||
Evercore LP Units Purchased or Converted into Class A Shares | (21,414 | ) | (9,867 | ) | (12,268 | ) | ||||||
Amortization and Vesting of LP Units | 20,365 | 21,697 | 21,057 | |||||||||
Distributions to Noncontrolling Interests | (18,950 | ) | (16,528 | ) | (19,087 | ) | ||||||
Fair value of Noncontrolling Interest in Pan | 309 | — | — | |||||||||
Issuance of Noncontrolling Interest | 4,021 | 469 | 917 | |||||||||
Purchase of Noncontrolling Interest | (4,529 | ) | — | — | ||||||||
Other | — | (3,549 | ) | (360 | ) | |||||||
Total other items | (20,198 | ) | (7,778 | ) | (9,741 | ) | ||||||
Ending balance | $ | 60,577 | $ | 62,243 | $ | 58,162 | ||||||
Net_Income_Loss_Per_Share_Attr1
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule Of Basic And Diluted Net Income Per Share | ' | |||||||||||
The calculations of basic and diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders for the years ended December 31, 2013, 2012 and 2011 are described and presented below. | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | ||||||||||||
Numerator: | ||||||||||||
Net income from continuing operations attributable to Evercore Partners Inc. | $ | 54,867 | $ | 28,889 | $ | 7,918 | ||||||
Associated accretion of redemption price of noncontrolling interest in Trilantic (See Note 15) | (68 | ) | (84 | ) | (84 | ) | ||||||
Net income from continuing operations attributable to Evercore Partners Inc. common shareholders | 54,799 | 28,805 | 7,834 | |||||||||
Net income (loss) from discontinued operations attributable to Evercore Partners Inc. common shareholders | (1,605 | ) | — | (966 | ) | |||||||
Net income attributable to Evercore Partners Inc. common shareholders | $ | 53,194 | $ | 28,805 | $ | 6,868 | ||||||
Denominator: | ||||||||||||
Weighted average shares of Class A common stock outstanding, including vested RSUs | 32,208 | 29,275 | 26,019 | |||||||||
Basic net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders | $ | 1.7 | $ | 0.98 | $ | 0.3 | ||||||
Basic net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders | (0.05 | ) | — | (0.04 | ) | |||||||
Basic net income per share attributable to Evercore Partners Inc. common shareholders | $ | 1.65 | $ | 0.98 | $ | 0.26 | ||||||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | ||||||||||||
Numerator: | ||||||||||||
Net income from continuing operations attributable to Evercore Partners Inc. common shareholders | $ | 54,799 | $ | 28,805 | $ | 7,834 | ||||||
Noncontrolling interest related to the assumed exchange of LP Units for Class A Shares | (a) | (a) | (a) | |||||||||
Associated corporate taxes related to the assumed elimination of Noncontrolling Interest described above | (a) | (a) | (a) | |||||||||
Diluted net income from continuing operations attributable to Class A common shareholders | 54,799 | 28,805 | 7,834 | |||||||||
Net income (loss) from discontinued operations attributable to Evercore Partners Inc. common shareholders | (1,605 | ) | — | (966 | ) | |||||||
Diluted net income attributable to Class A common shareholders | $ | 53,194 | $ | 28,805 | $ | 6,868 | ||||||
Denominator: | ||||||||||||
Weighted average shares of Class A common stock outstanding, including vested RSUs | 32,208 | 29,275 | 26,019 | |||||||||
Assumed exchange of LP Units for Class A Shares | (a) | (a) | (a) | |||||||||
Additional shares of the Company’s common stock assumed to be issued pursuant to non-vested RSUs and deferred consideration, as calculated using the Treasury Stock Method | 3,585 | 2,386 | 1,903 | |||||||||
Assumed conversion of Warrants issued | 2,688 | 887 | 1,475 | |||||||||
Diluted weighted average shares of Class A common stock outstanding | 38,481 | 32,548 | 29,397 | |||||||||
Diluted net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders | $ | 1.42 | $ | 0.89 | $ | 0.27 | ||||||
Diluted net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders | (0.04 | ) | — | (0.04 | ) | |||||||
Diluted net income per share attributable to Evercore Partners Inc. common shareholders | $ | 1.38 | $ | 0.89 | $ | 0.23 | ||||||
(a) | The Company has outstanding LP Units in its subsidiary, Evercore LP, which give the holders the right to receive Class A Shares upon exchange on a one for one basis. During the years ended December 31, 2013, 2012 and 2011, the LP Units were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders. The units that would have been included in the denominator of the computation of diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders if the effect would have been dilutive were 6,433, 8,695 and 10,356 for the years ended December 31, 2013, 2012 and 2011, respectively. The adjustment to the numerator, Diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $12,804, $8,135 and $5,692 for the years ended December 31, 2013, 2012 and 2011, respectively. In computing this adjustment, the Company assumes that all vested LP Units, and all unvested LP Units after applying the treasury stock method, are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Partners Inc. and, that it has adopted a conventional corporate tax structure and is taxed as a C Corporation in the U.S. at prevailing corporate tax rates. The Company does not anticipate that the LP Units will result in a dilutive computation in future periods. |
ShareBased_and_Other_Deferred_1
Share-Based and Other Deferred Compensation (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Acquisition-Related [Member] | ' | ||||||
Summary of Activity Related to Share-Based Payment Awards | ' | ||||||
The following table summarizes activity related to Acquisition-related Awards during the year ended December 31, 2013: | |||||||
Acquisition-related Awards | |||||||
Number of Shares | Grant Date Weighted | ||||||
Average Fair Value | |||||||
Unvested Balance at January 1, 2013 | 1,719 | $ | 39,338 | ||||
Granted | 27 | 1,221 | |||||
Vested | (619 | ) | (14,395 | ) | |||
Unvested Balance at December 31, 2013 | 1,127 | $ | 26,164 | ||||
Equity Grants [Member] | ' | ||||||
Summary of Activity Related to Share-Based Payment Awards | ' | ||||||
The following table summarizes activity related to Service-based Awards, which includes RSUs as well as LP Units, during the year ended December 31, 2013: | |||||||
Service-based Awards | |||||||
Number of Shares | Grant Date Weighted | ||||||
Average Fair Value | |||||||
Unvested Balance at January 1, 2013 | 7,972 | $ | 196,868 | ||||
Granted | 2,398 | 75,229 | |||||
Forfeited | (60 | ) | (1,789 | ) | |||
Vested | (3,630 | ) | (88,706 | ) | |||
Unvested Balance at December 31, 2013 | 6,680 | $ | 181,602 | ||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Aggregate Minimum Future Payments Required on Operating Leases | ' | |||
As of December 31, 2013, the approximate aggregate minimum future payments required on the operating leases are as follows: | ||||
2014 | $ | 20,489 | ||
2015 | 19,700 | |||
2016 | 20,598 | |||
2017 | 18,835 | |||
2018 | 18,182 | |||
Thereafter | 71,732 | |||
Total | $ | 169,536 | ||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Text Block [Abstract] | ' | |||||||||||
Components of Income (Loss) Before Income Tax Expense | ' | |||||||||||
The following table presents the U.S. and non-U.S. components of Income (Loss) before income tax expense: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. | $ | 89,821 | $ | 45,226 | $ | 37,681 | ||||||
Non-U.S. | 28,735 | 14,571 | (7,039 | ) | ||||||||
Income before Income Tax Expense (a) | $ | 118,556 | $ | 59,797 | $ | 30,642 | ||||||
(a) | From continuing operations, net of Noncontrolling Interest from continuing operations. | |||||||||||
Components of Provision for Income Taxes Reflected on Consolidated Statements of Operations | ' | |||||||||||
The components of the provision for income taxes from continuing operations reflected on the Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011 consist of: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 24,607 | $ | 24,956 | $ | 2,367 | ||||||
Foreign | 11,982 | 6,007 | 4,447 | |||||||||
State and Local | 7,541 | 7,912 | 4,942 | |||||||||
Total Current | 44,130 | 38,875 | 11,756 | |||||||||
Deferred: | ||||||||||||
Federal | 5,992 | (2,458 | ) | 11,368 | ||||||||
Foreign | 4,733 | (4,756 | ) | (1,129 | ) | |||||||
State and Local | 8,834 | (753 | ) | 729 | ||||||||
Total Deferred | 19,559 | (7,967 | ) | 10,968 | ||||||||
Total | $ | 63,689 | $ | 30,908 | $ | 22,724 | ||||||
Reconciliation Between Statutory Federal Income Tax Rate and Effective Tax Rate | ' | |||||||||||
A reconciliation between the statutory federal income tax rate from continuing operations and the Company’s effective tax rate for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Reconciliation of Federal Statutory Tax Rates: | ||||||||||||
U.S. Statutory Tax Rate | 35 | % | 35 | % | 35 | % | ||||||
Increase (Decrease) Due to State and Local Taxes | 5.3 | % | 6.8 | % | 13.1 | % | ||||||
Rate Benefits as a Limited Liability Company/Flow Through | (7.0 | )% | (6.9 | )% | (5.7 | )% | ||||||
Foreign Taxes | 3.2 | % | 2.2 | % | 4.3 | % | ||||||
Non-Deductible Expenses (1) | 3.4 | % | 9.4 | % | 17.1 | % | ||||||
Valuation Allowances | — | % | (2.0 | )% | (0.9 | )% | ||||||
Write Down of Deferred Tax Asset | 6.8 | % | 1.6 | % | — | % | ||||||
Other Adjustments | (0.7 | )% | (2.2 | )% | (1.0 | )% | ||||||
Effective Income Tax Rate | 46 | % | 43.9 | % | 61.9 | % | ||||||
-1 | Primarily related to non-deductible share-based compensation expense. | |||||||||||
Details of Deferred Tax Assets and Liabilities | ' | |||||||||||
Details of the Company’s deferred tax assets and liabilities as of December 31, 2013 and 2012 were as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Current Deferred Tax Assets: | ||||||||||||
Step up in tax basis due to the exchange of LP Units for Class A Shares | $ | 11,271 | $ | 9,214 | ||||||||
Total Current Deferred Tax Asset | $ | 11,271 | $ | 9,214 | ||||||||
Long-term Deferred Tax Assets: | ||||||||||||
Depreciation and Amortization | $ | 20,604 | $ | 14,673 | ||||||||
Compensation and Benefits | 31,735 | 25,958 | ||||||||||
Step up in tax basis due to the exchange of LP Units for Class A Shares | 192,811 | 181,783 | ||||||||||
Other | 21,396 | 17,043 | ||||||||||
Total Long-term Deferred Tax Assets | $ | 266,546 | $ | 239,457 | ||||||||
Long-term Deferred Tax Liabilities: | ||||||||||||
Goodwill, Investments and Other | $ | 14,933 | $ | 10,008 | ||||||||
Total Long-term Deferred Tax Liabilities | $ | 14,933 | $ | 10,008 | ||||||||
Net Long-term Deferred Tax Assets Before Valuation Allowance | $ | 251,613 | $ | 229,449 | ||||||||
Valuation Allowance | — | — | ||||||||||
Net Long-term Deferred Tax Assets | $ | 251,613 | $ | 229,449 | ||||||||
Reconciliation of Changes in Tax Positions | ' | |||||||||||
A reconciliation of the changes in tax positions for the years ended December 31, 2013, 2012 and 2011 is as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Beginning unrecognized tax benefit | $ | 98 | $ | 1,109 | $ | 2,012 | ||||||
Additions for tax positions of prior years | 526 | — | 98 | |||||||||
Lapse of Statute of Limitations | — | (1,011 | ) | (1,001 | ) | |||||||
Ending unrecognized tax benefit | $ | 624 | $ | 98 | $ | 1,109 | ||||||
Segment_Operating_Results_Tabl
Segment Operating Results (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Information Regarding Operations By Segment | ' | |||||||||||
The following information presents each segment’s contribution. | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Investment Banking | ||||||||||||
Net Revenues (1) | $ | 670,785 | $ | 565,219 | $ | 428,124 | ||||||
Operating Expenses | 516,921 | 444,510 | 337,886 | |||||||||
Other Expenses (2) | 33,740 | 50,774 | 55,591 | |||||||||
Operating Income | 120,124 | 69,935 | 34,647 | |||||||||
Income from Equity Method Investments | 2,906 | 2,258 | 1,101 | |||||||||
Pre-Tax Income from Continuing Operations | $ | 123,030 | $ | 72,193 | $ | 35,748 | ||||||
Identifiable Segment Assets | $ | 693,890 | $ | 624,977 | $ | 530,008 | ||||||
Investment Management | ||||||||||||
Net Revenues (1) | $ | 94,643 | $ | 77,154 | $ | 96,140 | ||||||
Operating Expenses | 81,885 | 78,876 | 89,269 | |||||||||
Other Expenses (2) | 2,707 | 2,678 | 5,706 | |||||||||
Operating Income (Loss) | 10,051 | (4,400 | ) | 1,165 | ||||||||
Income (Loss) from Equity Method Investments | 5,420 | 2,594 | (182 | ) | ||||||||
Pre-Tax Income (Loss) from Continuing Operations | $ | 15,471 | $ | (1,806 | ) | $ | 983 | |||||
Identifiable Segment Assets | $ | 486,893 | $ | 520,241 | $ | 513,584 | ||||||
Total | ||||||||||||
Net Revenues (1) | $ | 765,428 | $ | 642,373 | $ | 524,264 | ||||||
Operating Expenses | 598,806 | 523,386 | 427,155 | |||||||||
Other Expenses (2) | 36,447 | 53,452 | 61,297 | |||||||||
Operating Income | 130,175 | 65,535 | 35,812 | |||||||||
Income from Equity Method Investments | 8,326 | 4,852 | 919 | |||||||||
Pre-Tax Income from Continuing Operations | $ | 138,501 | $ | 70,387 | $ | 36,731 | ||||||
Identifiable Segment Assets | $ | 1,180,783 | $ | 1,145,218 | $ | 1,043,592 | ||||||
-1 | Net revenues include Other Revenue, net, allocated to the segments as follows: | |||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Investment Banking (A) | $ | 3,979 | $ | (3,019 | ) | $ | (2,473 | ) | ||||
Investment Management (B) | (1,116 | ) | (2,636 | ) | (3,021 | ) | ||||||
Total Other Revenue, net | $ | 2,863 | $ | (5,655 | ) | $ | (5,494 | ) | ||||
(A) | Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013. | |||||||||||
(B) | Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013. | |||||||||||
-2 | Other Expenses are as follows: | |||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Investment Banking | ||||||||||||
Amortization of LP Units and Certain Other Awards | $ | 17,817 | $ | 18,601 | $ | 21,328 | ||||||
Vesting of Event-based Awards | — | — | 8,906 | |||||||||
Acquisition Related Compensation Charges | 15,923 | 28,163 | 14,618 | |||||||||
Special Charges | — | 662 | 3,894 | |||||||||
Intangible Asset Amortization | — | 3,348 | 6,845 | |||||||||
Total Investment Banking | 33,740 | 50,774 | 55,591 | |||||||||
Investment Management | ||||||||||||
Amortization of LP Units and Certain Other Awards | 2,209 | 2,350 | 2,892 | |||||||||
Vesting of Event-based Awards | — | — | 2,483 | |||||||||
Special Charges | 170 | — | — | |||||||||
Intangible Asset Amortization | 328 | 328 | 331 | |||||||||
Total Investment Management | 2,707 | 2,678 | 5,706 | |||||||||
Total Other Expenses | $ | 36,447 | $ | 53,452 | $ | 61,297 | ||||||
Revenues Derived from Clients and Private Equity Funds by Geographical Areas | ' | |||||||||||
The Company’s revenues were derived from clients and private equity funds located and managed in the following geographical areas: | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net Revenues: (1) | ||||||||||||
United States | $ | 532,615 | $ | 452,594 | $ | 387,063 | ||||||
Europe and Other | 145,267 | 151,261 | 112,049 | |||||||||
Latin America | 84,683 | 44,173 | 30,646 | |||||||||
Total | $ | 762,565 | $ | 648,028 | $ | 529,758 | ||||||
-1 | Excludes Other Revenue and Interest Expense. |
Evercore_Partners_Inc_Parent_C1
Evercore Partners Inc. (Parent Company Only) Financial Statements (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Text Block [Abstract] | ' | |||||||||||
Condensed Statements Of Financial Condition, Parent Company Only | ' | |||||||||||
EVERCORE PARTNERS INC. | ||||||||||||
(parent company only) | ||||||||||||
CONDENSED STATEMENTS OF FINANCIAL CONDITION | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
ASSETS | ||||||||||||
Equity Investment in Subsidiary | $ | 531,380 | $ | 490,856 | ||||||||
Deferred Tax Asset | 254,486 | 225,741 | ||||||||||
Other Assets | 6,656 | — | ||||||||||
TOTAL ASSETS | $ | 792,522 | $ | 716,597 | ||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||
Liabilities | ||||||||||||
Payable to Related Party | $ | 8,881 | $ | 7,282 | ||||||||
Taxes Payable | — | 11,872 | ||||||||||
Amounts Due Pursuant to Tax Receivable Agreement | 175,771 | 165,350 | ||||||||||
Long-term Debt - Notes Payable | 103,226 | 101,375 | ||||||||||
Other Liabilities | 2,063 | 2,212 | ||||||||||
TOTAL LIABILITIES | 289,941 | 288,091 | ||||||||||
Stockholders' Equity | ||||||||||||
Common Stock | ||||||||||||
Class A, par value $0.01 per share (1,000,000,000 shares authorized, 40,772,434 and 35,040,501 issued at December 31, 2013 and 2012, respectively, and 33,069,534 and 29,576,986 outstanding at December 31, 2013 and 2012, respectively) | 408 | 350 | ||||||||||
Class B, par value $0.01 per share (1,000,000 shares authorized, 42 and 43 issued and outstanding at December 31, 2013 and 2012, respectively) | — | — | ||||||||||
Additional Paid-In-Capital | 799,233 | 654,275 | ||||||||||
Accumulated Other Comprehensive Income (Loss) | (10,784 | ) | (9,086 | ) | ||||||||
Retained Earnings (Deficit) | (59,896 | ) | (77,079 | ) | ||||||||
Treasury Stock at Cost (7,702,900 and 5,463,515 shares at December 31, 2013 and 2012, respectively) | (226,380 | ) | (139,954 | ) | ||||||||
TOTAL STOCKHOLDERS' EQUITY | 502,581 | 428,506 | ||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 792,522 | $ | 716,597 | ||||||||
See notes A to E to parent company only financial statements. | ||||||||||||
Condensed Statements Of Operations, Parent Company Only | ' | |||||||||||
EVERCORE PARTNERS INC. | ||||||||||||
(parent company only) | ||||||||||||
CONDENSED STATEMENTS OF OPERATIONS | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
REVENUES | ||||||||||||
Interest Income | $ | 14,993 | $ | 7,955 | $ | 7,817 | ||||||
TOTAL REVENUES | 14,993 | 7,955 | 7,817 | |||||||||
Interest Expense | 8,088 | 7,955 | 7,817 | |||||||||
NET REVENUES | 6,905 | — | — | |||||||||
EXPENSES | ||||||||||||
TOTAL EXPENSES | — | — | — | |||||||||
OPERATING INCOME | 6,905 | — | — | |||||||||
Equity in Income of Subsidiary | 87,317 | 53,229 | 21,083 | |||||||||
Provision for Income Taxes | 40,960 | 24,340 | 14,131 | |||||||||
NET INCOME | $ | 53,262 | $ | 28,889 | $ | 6,952 | ||||||
See notes A to E to parent company only financial statements. | ||||||||||||
Condensed Statements Of Cash Flows, Parent Company Only | ' | |||||||||||
EVERCORE PARTNERS INC. | ||||||||||||
(parent company only) | ||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS | ||||||||||||
For the Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||
Net Income | $ | 53,262 | $ | 28,889 | $ | 6,952 | ||||||
Undistributed Income of Subsidiary | (87,317 | ) | (53,229 | ) | (21,083 | ) | ||||||
Deferred Taxes | (28,745 | ) | — | — | ||||||||
Accretion on Long-term Debt | 1,851 | 1,711 | 1,582 | |||||||||
(Increase) Decrease in Operating Assets: | ||||||||||||
Other Assets | (6,656 | ) | 14,310 | 12,105 | ||||||||
Increase (Decrease) in Operating Liabilities: | ||||||||||||
Payable to Uncombined Affiliates | — | — | 957 | |||||||||
Taxes Payable | 11,872 | 11,872 | — | |||||||||
Other Liabilities | 1,706 | (3,101 | ) | (574 | ) | |||||||
Net Cash Provided by (Used in) Operating Activities | (54,027 | ) | 452 | (61 | ) | |||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||
Cash Paid for Acquisitions, net of cash acquired | — | — | (30,397 | ) | ||||||||
Investment in Subsidiary | 90,949 | 24,239 | (22,994 | ) | ||||||||
Net Cash Provided by (Used in) Investing Activities | 90,949 | 24,239 | (53,391 | ) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||
Proceeds from Equity Offering | — | — | 168,140 | |||||||||
Purchase of Evercore LP Units | (6,832 | ) | (395 | ) | (95,342 | ) | ||||||
Dividends | (30,090 | ) | (24,296 | ) | (19,346 | ) | ||||||
Net Cash Provided by (Used in) Financing Activities | (36,922 | ) | (24,691 | ) | 53,452 | |||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | — | — | — | |||||||||
CASH AND CASH EQUIVALENTS—Beginning of Year | — | — | — | |||||||||
CASH AND CASH EQUIVALENTS—End of Year | $ | — | $ | — | $ | — | ||||||
See notes A to E to parent company only financial statements. |
SUPPLEMENTAL_FINANCIAL_INFORMA1
SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information | ' | |||||||||||||||
Consolidated Quarterly Results of Operations (unaudited) | ||||||||||||||||
The following represents the Company’s unaudited quarterly results for the years ended December 31, 2013 and 2012. These quarterly results were prepared in accordance with U.S. GAAP and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. The amounts below reflect the reclassification of the historical results of Pan to Discontinued Operations. | ||||||||||||||||
For the Three Months Ended | ||||||||||||||||
December 31, | September 30, | June 30, | March 31, | |||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||
Net Revenues | $ | 218,672 | $ | 187,328 | $ | 206,797 | $ | 152,631 | ||||||||
Total Expenses | 174,796 | 155,460 | 168,616 | 136,381 | ||||||||||||
Income Before Income from Equity Method Investments and Income Taxes | 43,876 | 31,868 | 38,181 | 16,250 | ||||||||||||
Income from Equity Method Investments | 5,993 | 562 | 1,015 | 756 | ||||||||||||
Income Before Income Taxes | 49,869 | 32,430 | 39,196 | 17,006 | ||||||||||||
Provision for Income Taxes | 26,474 | 12,350 | 17,130 | 7,735 | ||||||||||||
Net Income from Continuing Operations | 23,395 | 20,080 | 22,066 | 9,271 | ||||||||||||
Net Income (Loss) from Discontinued Operations | (16 | ) | (1,826 | ) | (55 | ) | (893 | ) | ||||||||
Net Income | 23,379 | 18,254 | 22,011 | 8,378 | ||||||||||||
Net Income Attributable to Noncontrolling Interest | 6,474 | 4,292 | 5,585 | 2,409 | ||||||||||||
Net Income Attributable to Evercore Partners Inc. | $ | 16,905 | $ | 13,962 | $ | 16,426 | $ | 5,969 | ||||||||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.51 | $ | 0.47 | $ | 0.52 | $ | 0.2 | ||||||||
From Discontinued Operations | — | (0.04 | ) | — | (0.01 | ) | ||||||||||
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.51 | $ | 0.43 | $ | 0.52 | $ | 0.19 | ||||||||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.42 | $ | 0.39 | $ | 0.44 | $ | 0.17 | ||||||||
From Discontinued Operations | — | (0.03 | ) | — | (0.01 | ) | ||||||||||
Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.42 | $ | 0.36 | $ | 0.44 | $ | 0.16 | ||||||||
Dividends Declared Per Share of Class A Common Stock | $ | 0.25 | $ | 0.22 | $ | 0.22 | $ | 0.22 | ||||||||
For the Three Months Ended | ||||||||||||||||
December 31, | September 30, | June 30, | March 31, | |||||||||||||
2012 | 2012 | 2012 | 2012 | |||||||||||||
Net Revenues | $ | 214,049 | $ | 153,029 | $ | 172,497 | $ | 102,798 | ||||||||
Total Expenses | 171,811 | 138,784 | 151,302 | 114,941 | ||||||||||||
Income (Loss) Before Income from Equity Method Investments and Income Taxes | 42,238 | 14,245 | 21,195 | (12,143 | ) | |||||||||||
Income from Equity Method Investments | 1,333 | 415 | 719 | 2,385 | ||||||||||||
Income (Loss) Before Income Taxes | 43,571 | 14,660 | 21,914 | (9,758 | ) | |||||||||||
Provision (Benefit) for Income Taxes | 18,586 | 7,187 | 9,773 | (4,638 | ) | |||||||||||
Net Income (Loss) from Continuing Operations | 24,985 | 7,473 | 12,141 | (5,120 | ) | |||||||||||
Net Income (Loss) from Discontinued Operations | — | — | — | — | ||||||||||||
Net Income (Loss) | 24,985 | 7,473 | 12,141 | (5,120 | ) | |||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 5,963 | 2,172 | 4,207 | (1,752 | ) | |||||||||||
Net Income (Loss) Attributable to Evercore Partners Inc. | $ | 19,022 | $ | 5,301 | $ | 7,934 | $ | (3,368 | ) | |||||||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.64 | $ | 0.18 | 0.27 | $ | (0.12 | ) | ||||||||
From Discontinued Operations | — | — | — | — | ||||||||||||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.64 | $ | 0.18 | $ | 0.27 | $ | (0.12 | ) | |||||||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: | ||||||||||||||||
From Continuing Operations | $ | 0.56 | $ | 0.17 | $ | 0.25 | $ | (0.12 | ) | |||||||
From Discontinued Operations | — | — | — | — | ||||||||||||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | $ | 0.56 | $ | 0.17 | $ | 0.25 | $ | (0.12 | ) | |||||||
Dividends Declared Per Share of Class A Common Stock | $ | 0.22 | $ | 0.2 | $ | 0.2 | $ | 0.2 | ||||||||
Significant_Accounting_Policie2
Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Significant Of Accounting Policies [Line Items] | ' |
LP units convertible conversion ratio | 1 |
Principal amount of senior unsecured notes | $120,000,000 |
Percentage of Likelihood of Tax Benefit Being Realized (as a percent) | 50.00% |
Minimum [Member] | ' |
Significant Of Accounting Policies [Line Items] | ' |
Estimated useful lives of the assets (in years) | '3 years |
Fair value of awards vesting period (in years) | '1 year |
Maximum [Member] | ' |
Significant Of Accounting Policies [Line Items] | ' |
Estimated useful lives of the assets (in years) | '7 years |
Fair value of awards vesting period (in years) | '5 years |
Business_Changes_and_Developme2
Business Changes and Developments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 03, 2013 | Mar. 16, 2013 | Mar. 15, 2013 | Dec. 31, 2008 | Dec. 31, 2012 | Oct. 31, 2012 | Dec. 31, 2013 | Dec. 28, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 31, 2012 | Dec. 28, 2012 | Dec. 28, 2012 | Dec. 28, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 15, 2013 |
Pan [Member] | Pan [Member] | Pan [Member] | Pan [Member] | Pan [Member] | Pan [Member] | Pan [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Mt Eden Investment Advisors LLC [Member] | Evercore Private Capital Advisory L.P. [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ||||||||||||
Minimum [Member] | Maximum [Member] | Noncontrolling Interest [Member] | Client Related Intangible Assets [Member] | Non-compete agreements [Member] | Other Intangible Assets [Member] | Pan [Member] | Pan [Member] | ||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method investment | $67,560 | ' | ' | ' | $69,320 | ' | ' | ' | $67,560 | $69,320 | ' | $0 | $2,749 | ' | ' | ' | ' | $4,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from Equity Method Investments | 5,993 | 562 | 1,015 | 756 | 1,333 | 415 | 719 | 2,385 | 8,326 | 4,852 | 919 | -55 | 90 | -420 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method investment (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,414 | ' | ' | ' | ' | ' | ' | ' | ' | 3,020 |
Intangible assets | 54,269 | ' | ' | ' | 55,399 | ' | ' | ' | 54,269 | 55,399 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,630 | 169 | 445 | ' | ' | 1,440 |
Amortization period of intangible assets (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '10 years | ' | ' | ' | ' | ' | '7 years | ' |
Impairment Charges | ' | ' | ' | ' | ' | ' | ' | ' | 2,888 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,718 | ' |
Special Charges | ' | ' | ' | ' | ' | ' | ' | ' | 170 | 662 | 3,894 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operations Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 989 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operations Pretax gains (losses) | ' | ' | ' | ' | ' | ' | ' | ' | -1,542 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion owned by Company (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' |
Portion owned by employees (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' |
Cash received by sellers for consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,917 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of equity interest paid to sellers for consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,694 | ' | ' | ' | ' | ' | ' |
Contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 282 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 7,994 | 10,872 | 14,315 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 455 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funded repayment of outstanding capital notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,047 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Changes_and_Developme3
Business Changes and Developments Goodwill Associated with Acquisitions (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | |
Goodwill [Roll Forward] | ' | ' | |
Goodwill, Beginning Balance | $188,684 | $177,849 | |
Acquisitions | ' | 6,500 | |
Foreign Currency Translation and Other | 590 | 4,335 | |
Goodwill, Ending Balance | 189,274 | [1] | 188,684 |
Investment Banking [Member] | ' | ' | |
Goodwill [Roll Forward] | ' | ' | |
Goodwill, Beginning Balance | 86,352 | 81,937 | |
Acquisitions | ' | 0 | |
Foreign Currency Translation and Other | 676 | 4,415 | |
Goodwill, Ending Balance | 87,028 | [1] | 86,352 |
Investment Management [Member] | ' | ' | |
Goodwill [Roll Forward] | ' | ' | |
Goodwill, Beginning Balance | 102,332 | 95,912 | |
Acquisitions | ' | 6,500 | |
Foreign Currency Translation and Other | -86 | -80 | |
Goodwill, Ending Balance | $102,246 | [1] | $102,332 |
[1] | The balance includes the net effect of the goodwill related to the consolidation and disposition of Pan. |
Business_Changes_and_Developme4
Business Changes and Developments Intangible Assets Associated with Acquisitions (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | $54,269 | $55,399 |
Intangible Assets, accumulated amortization | 27,538 | 20,002 |
Client Related [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 48,130 | 49,260 |
Intangible Assets, accumulated amortization | 23,858 | 17,381 |
Acquired Mandates [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 1,810 | 1,810 |
Intangible Assets, accumulated amortization | 1,786 | 1,324 |
Non-compete/Non-solicit Agreements [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 2,084 | 2,084 |
Intangible Assets, accumulated amortization | 1,408 | 987 |
Other [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 2,245 | 2,245 |
Intangible Assets, accumulated amortization | 486 | 310 |
Investment Banking [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 4,245 | 4,245 |
Intangible Assets, accumulated amortization | 3,179 | 2,360 |
Investment Banking [Member] | Client Related [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 2,300 | 2,300 |
Intangible Assets, accumulated amortization | 1,299 | 969 |
Investment Banking [Member] | Acquired Mandates [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 1,810 | 1,810 |
Intangible Assets, accumulated amortization | 1,786 | 1,324 |
Investment Banking [Member] | Non-compete/Non-solicit Agreements [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 135 | 135 |
Intangible Assets, accumulated amortization | 94 | 67 |
Investment Banking [Member] | Other [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 0 | 0 |
Intangible Assets, accumulated amortization | 0 | 0 |
Investment Management [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 50,024 | 51,154 |
Intangible Assets, accumulated amortization | 24,359 | 17,642 |
Investment Management [Member] | Client Related [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 45,830 | 46,960 |
Intangible Assets, accumulated amortization | 22,559 | 16,412 |
Investment Management [Member] | Acquired Mandates [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 0 | 0 |
Intangible Assets, accumulated amortization | 0 | 0 |
Investment Management [Member] | Non-compete/Non-solicit Agreements [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 1,949 | 1,949 |
Intangible Assets, accumulated amortization | 1,314 | 920 |
Investment Management [Member] | Other [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 2,245 | 2,245 |
Intangible Assets, accumulated amortization | $486 | $310 |
Business_Changes_and_Developme5
Business Changes and Developments Annual Amortization of Intangibles for Next Five Years (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Disclosure Annual Amortization Of Intangibles For Next Five Years [Abstract] | ' |
2014 | $5,526 |
2015 | 3,864 |
2016 | 3,510 |
2017 | 3,120 |
2018 | $3,034 |
Acquisition_and_Transition_Cos1
Acquisition and Transition Costs and Special Charges (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Business Acquisition [Line Items] | ' | ' | ' |
Acquisition and Transition Costs | $58 | $840 | $3,465 |
Special Charges | 170 | 662 | 3,894 |
Lexicon Partnership LLP [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Acquisition and Transition Costs | ' | ' | 2,118 |
Special charges incurred In connection with exiting of lease commitment for office space | ' | ' | 731 |
Special charges incurred for introducing fees | ' | ' | 1,895 |
Special charges for other professional fees | ' | ' | $1,268 |
Related_Parties_Additional_Inf
Related Parties - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Related Party Transaction [Line Items] | ' | ' | ' |
Payment for expenses on behalf of the private equity funds | $1,218 | $1,098 | $1,833 |
Amounts due pursuant to TRA | 175,771 | 165,350 | ' |
Other Assets [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Employee compensation arrangement | 5,560 | 1,546 | ' |
Investment Management [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenue from related parties | 11,557 | 4,781 | 6,696 |
Director [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenue from related parties | $14,090 | $2,000 | $1,250 |
Related_Parties_Receivable_Fro
Related Parties Receivable From Employees and Related Parties (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Related Party Transactions [Abstract] | ' | ' |
Advances to Employees | $7,668 | $3,624 |
Personal Expenses Paid on Behalf of Employees and Related Parties | 72 | 213 |
Receivable from Affiliates | 578 | 390 |
Reimbursable Expenses Due From Portfolio Companies of the Company's Private Equity Funds | 127 | 409 |
Reimbursable Expenses Relating to the Private Equity Funds | 788 | 530 |
Receivable from Employees and Related Parties | $9,233 | $5,166 |
Related_Parties_Payable_to_Emp
Related Parties Payable to Employees and Related Parties (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Related Party Transactions [Abstract] | ' | ' | ||
Board of Director Fees | $266 | $266 | ||
Amounts Due to UK Members | 10,386 | 5,424 | ||
Amounts Due Pursuant to Tax Receivable Agreements | 8,872 | [1] | 7,274 | [1] |
Payable to Employees and Related Parties | $19,524 | $12,964 | ||
[1] | Relates to the current portion of the Member exchange of LP Units for ClassB A Shares. The long-term portion of $175,771 and $165,350 is disclosed in Amounts Due Pursuant to Tax Receivable Agreements on the Consolidated Statements of Financial Condition at December 31, 2013 and 2012, respectively. |
Marketable_Securities_Addition
Marketable Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Securities Investments [Member] | ' | ' | ' |
Schedule Of Marketable Securities [Line Items] | ' | ' | ' |
Marketable securities, realized gain (loss) | ($45) | ($85) | $936 |
Debt Securities Carried by EGL [Member] | ' | ' | ' |
Schedule Of Marketable Securities [Line Items] | ' | ' | ' |
Marketable securities, realized and unrealized gain (loss) | -234 | -674 | -460 |
Mutual Funds [Member] | ' | ' | ' |
Schedule Of Marketable Securities [Line Items] | ' | ' | ' |
Marketable securities, realized and unrealized gain (loss) | $1,344 | $1,025 | ($412) |
Marketable_Securities_Amortize
Marketable Securities Amortized Cost and Estimated Fair Value of Marketable Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total | ' | ' |
Cost | $41,727 | $34,640 |
Gross Unrealized Gains | 2,441 | 1,937 |
Gross Unrealized Losses | 761 | 32 |
Fair Value | 43,407 | 36,545 |
Securities Investments [Member] | ' | ' |
Securities Investments | ' | ' |
Cost | 11,268 | 10,172 |
Gross Unrealized Gains | 754 | 1,428 |
Gross Unrealized Losses | 623 | 20 |
Fair Value | 11,399 | 11,580 |
Debt Securities Carried by EGL [Member] | ' | ' |
Other Securities | ' | ' |
Cost | 22,542 | 13,522 |
Gross Unrealized Gains | 87 | 97 |
Gross Unrealized Losses | 1 | 0 |
Fair Value | 22,628 | 13,619 |
Mutual Funds [Member] | ' | ' |
Other Securities | ' | ' |
Cost | 7,917 | 10,946 |
Gross Unrealized Gains | 1,600 | 412 |
Gross Unrealized Losses | 137 | 12 |
Fair Value | $9,380 | $11,346 |
Marketable_Securities_Schedule
Marketable Securities Scheduled Maturities of Available-for-Sale Debt Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Due within one year, amortized cost | $306 | $658 |
Due after one year through five years, amortized cost | 1,250 | 1,415 |
Due after five years through 10 years, amortized cost | 100 | 347 |
Total, amortized cost | 1,656 | 2,420 |
Due within one year, fair value | 307 | 659 |
Due after one year through five years, fair value | 1,264 | 1,437 |
Due after five years through 10 years, fair value | 100 | 346 |
Total, fair value | $1,671 | $2,442 |
Financial_Instruments_Owned_an2
Financial Instruments Owned and Pledged as Collateral at Fair Value, Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Banking and Thrift [Abstract] | ' |
Securities average estimated maturity period (in years) | '1 year 10 months 6 days |
Financial_Instruments_Owned_an3
Financial Instruments Owned and Pledged as Collateral at Fair Value, Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase Summary of Assets, Liabilities and Collateral Received or Pledged (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ' | ' |
Financial Instruments Owned and Pledged as Collateral at Fair Value | $56,311 | $120,594 |
Securities Purchased Under Agreements to Resell | 19,134 | 0 |
Securities Sold Under Agreements to Repurchase | -75,563 | -120,787 |
Asset (Liability) Balance [Member] | ' | ' |
Financial Instruments Owned and Pledged as Collateral [Line Items] | ' | ' |
Financial Instruments Owned and Pledged as Collateral at Fair Value | 56,311 | 120,594 |
Securities Purchased Under Agreements to Resell | 19,134 | 0 |
Total Assets | 75,445 | 120,594 |
Securities Sold Under Agreements to Repurchase | -75,563 | -120,787 |
Market Value of Collateral Received or (Pledged) [Member] | ' | ' |
Financial Instruments Owned and Pledged as Collateral [Line Items] | ' | ' |
Securities Purchased Under Agreements to Resell | 19,112 | 0 |
Securities Sold Under Agreements to Repurchase | ($75,708) | ($121,029) |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 16, 2013 | Mar. 15, 2013 | Dec. 31, 2008 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
EMP III [Member] | EMP III [Member] | Trilantic [Member] | Trilantic [Member] | Trilantic [Member] | G5 Evercore [Member] | G5 Evercore [Member] | G5 Evercore [Member] | ABS [Member] | ABS [Member] | Pan [Member] | Pan [Member] | Pan [Member] | Pan [Member] | Pan [Member] | Pan [Member] | CSI Capital [Member] | Minimum [Member] | Maximum [Member] | EMCP III [Member] | EMCP III [Member] | EMCP III [Member] | EMCP III [Member] | Trilantic [Member] | Trilantic [Member] | Trilantic [Member] | Trilantic [Member] | Trilantic [Member] | Trilantic V [Member] | ||||||||||||
Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ECP II [Member] | ECP II [Member] | EMP III [Member] | Parent [Member] | Noncontrolling Interest [Member] | Trilantic IV [Member] | Trilantic IV [Member] | Trilantic V [Member] | |||||||||||||||||||||||||||||||
Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |||||||||||||||||||||||||||||||||||||||
Schedule of Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subscribed capital commitments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $201,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital commitment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,750,000 | 1,000,000 | 9,750,000 | ' | ' | ' | ' | 5,000,000 | ' |
Unfunded commitments for capital contributions | 9,945,000 | ' | ' | ' | ' | ' | ' | ' | 9,945,000 | ' | ' | ' | ' | 4,265,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,864,000 | 639,000 | ' | ' | ' | ' | ' | 4,265,000 | ' |
Equity method investment | 67,560,000 | ' | ' | ' | 69,320,000 | ' | ' | ' | 67,560,000 | 69,320,000 | ' | ' | ' | ' | ' | ' | 20,001,000 | 19,720,000 | ' | 47,559,000 | 46,851,000 | 0 | 2,749,000 | ' | ' | ' | 4,158,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,532,000 |
Investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,164,000 | ' | ' | ' | ' | ' | ' | 14,145,000 | 14,999,000 | 29,000 | 1,091,000 | 825,000 | ' |
Net realized and unrealized gains (losses) on private equity fund investments, including performance fees | ' | ' | ' | ' | ' | ' | ' | ' | 8,060,000 | -206,000 | 6,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Previously received carried interest subject to repayment | 2,701,000 | ' | ' | ' | ' | ' | ' | ' | 2,701,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent ownership of carried interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,287,000 | 1,696,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issued LP Units (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Limited partnership investment | 36,805,000 | ' | ' | ' | 49,727,000 | ' | ' | ' | 36,805,000 | 49,727,000 | ' | ' | ' | ' | 16,331,000 | 16,090,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method investment (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | ' | ' | 45.00% | ' | ' | ' | ' | 68.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (loss) from equity method investments | 5,993,000 | 562,000 | 1,015,000 | 756,000 | 1,333,000 | 415,000 | 719,000 | 2,385,000 | 8,326,000 | 4,852,000 | 919,000 | ' | ' | ' | ' | ' | 2,126,000 | 1,368,000 | 1,340,000 | 6,255,000 | 3,394,000 | -55,000 | 90,000 | -420,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | $2,586,000 | $2,696,000 | $944,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments_Summary_of_Investm
Investments Summary of Investment in Private Equity Funds (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | $67,560 | $69,320 |
Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 32,379 | 26,578 |
ECP II [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 3,251 | 3,793 |
Discovery Fund [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 5,015 | 3,060 |
EMCP II [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 11,125 | 10,400 |
EMCP III [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 3,852 | 1,696 |
CSI Capital [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 3,248 | 3,056 |
Trilantic IV [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 4,356 | 4,573 |
Trilantic V [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | 1,532 | ' |
Trilantic V [Member] | Private Equity Funds [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Investment in private equity funds | $1,532 | $0 |
Investments_Summary_of_Other_E
Investments Summary of Other Equity Investments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 |
In Thousands, unless otherwise specified | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Investment in private equity funds | $67,560 | $69,320 | ' |
G5 Evercore [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Investment in private equity funds | 20,001 | 19,720 | ' |
ABS [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Investment in private equity funds | 47,559 | 46,851 | ' |
Pan [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Investment in private equity funds | $0 | $2,749 | $4,158 |
Fair_Value_Measurements_Catego
Fair Value Measurements Categorization of Investments and Certain Other Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | $113,972 | $182,002 | ||
Corporate Bonds, Municipal Bonds and Other Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 33,882 | [1] | 38,482 | [1] |
Securities Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 14,399 | [1] | 11,580 | |
Mutual Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 9,380 | 11,346 | ||
Financial Instruments Owned and Pledged as Collateral at Fair Value [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 56,311 | 120,594 | ||
Treasury Bills, Municipal Bonds and Commercial Paper [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash and Cash Equivalents | 14,254 | 24,863 | ||
Level I [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 77,692 | 141,078 | ||
Cash and Cash Equivalents | 284,199 | 234,568 | ||
Level I [Member] | Corporate Bonds, Municipal Bonds and Other Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 0 | [1] | 0 | [1] |
Level I [Member] | Securities Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 12,001 | [1] | 9,138 | [1] |
Level I [Member] | Mutual Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 9,380 | 11,346 | ||
Level I [Member] | Financial Instruments Owned and Pledged as Collateral at Fair Value [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 56,311 | 120,594 | ||
Level II [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 36,280 | 40,924 | ||
Cash and Cash Equivalents | 0 | 0 | ||
Level II [Member] | Corporate Bonds, Municipal Bonds and Other Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 33,882 | [1] | 38,482 | [1] |
Level II [Member] | Securities Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 2,398 | 2,442 | ||
Level II [Member] | Mutual Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 0 | 0 | ||
Level II [Member] | Financial Instruments Owned and Pledged as Collateral at Fair Value [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 0 | 0 | ||
Level III [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 0 | 0 | ||
Cash and Cash Equivalents | 0 | 0 | ||
Level III [Member] | Corporate Bonds, Municipal Bonds and Other Debt Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 0 | [1] | 0 | [1] |
Level III [Member] | Securities Investments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 0 | 0 | ||
Level III [Member] | Mutual Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | 0 | 0 | ||
Level III [Member] | Financial Instruments Owned and Pledged as Collateral at Fair Value [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total Assets Measured At Fair Value | $0 | $0 | ||
[1] | Includes $14,254 and $24,863 of treasury bills, municipal bonds and commercial paper classified within Cash and Cash Equivalents on the Consolidated Statements of Financial Condition as of DecemberB 31, 2013 and 2012, respectively. |
Fair_Value_Measurements_Carryi
Fair Value Measurements Carrying Amount and Estimated Fair Value of Financial Instrument Assets and Liabilities which are Not Measured at Fair Value (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Carrying Amount [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents | $284,199 | $234,568 |
Securities Purchased Under Agreements to Resell | 19,134 | ' |
Accounts Receivable | 83,347 | 89,098 |
Receivable from Employees and Related Parties | 9,233 | 5,166 |
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 |
Accounts Payable and Accrued Expenses | 18,365 | 17,909 |
Securities Sold Under Agreements to Repurchase | 75,563 | 120,787 |
Payable to Employees and Related Parties | 19,524 | 12,964 |
Notes Payable | 103,226 | 101,375 |
Level I [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents | 284,199 | 234,568 |
Securities Purchased Under Agreements to Resell | 0 | ' |
Accounts Receivable | 0 | 0 |
Receivable from Employees and Related Parties | 0 | 0 |
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 |
Accounts Payable and Accrued Expenses | 0 | 0 |
Securities Sold Under Agreements to Repurchase | 0 | 0 |
Payable to Employees and Related Parties | 0 | 0 |
Notes Payable | 0 | 0 |
Level II [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents | 0 | 0 |
Securities Purchased Under Agreements to Resell | 19,134 | ' |
Accounts Receivable | 83,347 | 89,098 |
Receivable from Employees and Related Parties | 9,233 | 5,166 |
Assets Segregated for Bank Regulatory Requirements | 0 | 0 |
Accounts Payable and Accrued Expenses | 18,365 | 17,909 |
Securities Sold Under Agreements to Repurchase | 75,563 | 120,787 |
Payable to Employees and Related Parties | 19,524 | 12,964 |
Notes Payable | 127,425 | 136,860 |
Level III [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents | 0 | 0 |
Securities Purchased Under Agreements to Resell | 0 | ' |
Accounts Receivable | 0 | 0 |
Receivable from Employees and Related Parties | 0 | 0 |
Assets Segregated for Bank Regulatory Requirements | 0 | 0 |
Accounts Payable and Accrued Expenses | 0 | 0 |
Securities Sold Under Agreements to Repurchase | 0 | 0 |
Payable to Employees and Related Parties | 0 | 0 |
Notes Payable | 0 | 0 |
Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and Cash Equivalents | 284,199 | 234,568 |
Securities Purchased Under Agreements to Resell | 19,134 | ' |
Accounts Receivable | 83,347 | 89,098 |
Receivable from Employees and Related Parties | 9,233 | 5,166 |
Assets Segregated for Bank Regulatory Requirements | 10,200 | 10,200 |
Accounts Payable and Accrued Expenses | 18,365 | 17,909 |
Securities Sold Under Agreements to Repurchase | 75,563 | 120,787 |
Payable to Employees and Related Parties | 19,524 | 12,964 |
Notes Payable | $127,425 | $136,860 |
Furniture_Equipment_and_Leaseh2
Furniture, Equipment and Leasehold Improvements - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation and amortization expense | $6,543 | $5,962 | $3,431 |
Furniture_Equipment_and_Leaseh3
Furniture, Equipment and Leasehold Improvements (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Furniture and Office Equipment | $9,366 | $8,891 |
Leasehold Improvements | 32,719 | 30,884 |
Computer and Computer-related Equipment | 11,739 | 9,882 |
Total | 53,824 | 49,657 |
Less: Accumulated Depreciation and Amortization | -25,992 | -19,880 |
Furniture, Equipment and Leasehold Improvements, Net | $27,832 | $29,777 |
Issuance_of_Notes_Payable_and_2
Issuance of Notes Payable and Warrants - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 21, 2008 | Dec. 31, 2013 | Aug. 21, 2008 |
Class A [Member] | Class A [Member] | Class A [Member] | Senior Notes [Member] | Senior Notes [Member] | Warrant [Member] | ||
Maximum [Member] | Class A [Member] | ||||||
Issuance Of Notes Payable And Warrants [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Principal amount of senior notes | $120,000,000 | ' | ' | ' | $120,000,000 | ' | ' |
Principal Amount Of Senior Notes Due Year | ' | ' | ' | ' | '2020 | ' | ' |
Senior Notes coupon interest (as a percent) | ' | ' | ' | ' | 5.20% | ' | ' |
Warrants to purchase Class A shares (in shares) | ' | ' | ' | ' | ' | ' | 5,455,000 |
Class A Common stock par value (in dollars per share) | ' | $0.01 | $0.01 | ' | ' | ' | $0.01 |
Class A Shares purchase price per share (in dollars per share) | ' | ' | ' | ' | ' | ' | $22 |
Senior notes effective yield (as a percent) | ' | ' | ' | ' | ' | 7.94% | ' |
Redemption period (in days) | ' | ' | ' | ' | ' | '90 days | ' |
Event of default under the indenture accreted amount due and payable (as a percent) | ' | ' | ' | ' | ' | 33.33% | ' |
Maximum percent of aggregate principal amount of senior notes owned by holder or group of affiliates for transfer (as a percent) | ' | ' | ' | ' | ' | 15.00% | ' |
Maximum percent of voting securities and total shares of class A common stock owned by holder or group of affiliates for warrant transfer (as a percent) | ' | 2.00% | ' | ' | ' | ' | ' |
Percent of outstanding shares of common stock owned by holder or group of affiliates for warrant transfer (as a percent) | ' | ' | ' | 25.00% | ' | ' | ' |
Issuance_of_Notes_Payable_and_3
Issuance of Notes Payable and Warrants Future Payments Required on the Senior Notes (Details) (Senior Notes [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Senior Notes [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 | $6,240 |
2015 | 6,240 |
2016 | 6,240 |
2017 | 6,240 |
2018 | 6,240 |
Thereafter | 132,480 |
Total | $163,680 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Contribution Retirement Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Company contributions to Plan | $0 | $0 | $0 |
Evercore Europe Defined Contribution Benefit Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Define contribution plans annual contribution percentage by employee (as a percent) | 10.00% | ' | ' |
Company contributions to Plan | $3,632 | $3,360 | $2,094 |
Minimum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Define contribution plans annual contribution percentage by employee (as a percent) | 15.00% | ' | ' |
Define contribution plans additional contribution percentage by employee (as a percent) | 7.50% | ' | ' |
Defined contribution plans employee contribution percentage of eligible compensation matched by employer (as a percent) | 5.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Define contribution plans annual contribution percentage by employee (as a percent) | 50.00% | ' | ' |
Define contribution plans additional contribution percentage by employee (as a percent) | 10.00% | ' | ' |
Defined contribution plans employee contribution percentage of eligible compensation matched by employer (as a percent) | 10.00% | ' | ' |
Evercore_Partners_Inc_Stockhol1
Evercore Partners Inc. Stockholders' Equity - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 27, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
LP Unit Purchases [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Share Repurchase Program [Member] | Share Repurchase Program [Member] | Share Repurchase Program [Member] | Share Repurchase Program [Member] | Share Repurchase Program [Member] | Share Repurchase Program [Member] | Subsequent Event [Member] | Class A [Member] | Class A [Member] | Class A [Member] | Class A [Member] | Class A [Member] | Step Up In Tax Basis [Member] | Step Up In Tax Basis [Member] | Consolidation Foreign Exchange Translation Loss [Member] | Sale of Business Foreign Exchange Translation Gain [Member] | |||||||||||||
Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Morse Williams [Member] | MJC Associates Agreement [Member] | MJC Associates Agreement [Member] | Former Employee [Member] | Lexicon Partnership LLP [Member] | Accumulated Translation Adjustment [Member] | Accumulated Translation Adjustment [Member] | |||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||||||||||||||||||||
Temporary Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends payable, date declared | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27-Jan-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend record date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend payment date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14-Mar-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends declared per share of Class A common stock (in dollars per share) | ' | $0.25 | $0.22 | $0.22 | $0.22 | $0.22 | $0.20 | $0.20 | $0.20 | $0.91 | $0.82 | $0.74 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends per share, cash paid (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.91 | $0.82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declared and paid dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30,090 | $24,296 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchased for the net settlement of stock-based compensation awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 983 | 726 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $22.24 | $21.71 | $55.12 | $29.62 | ' | ' | $36 | $22.58 | $41 | $26.62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in Treasury Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87,620 | 66,588 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39 | 39 | 65 | 3 | 116 | ' | ' | ' | ' |
Decrease In Treasury Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,194 | 5,641 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program number of shares purchased (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,298 | 1,884 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP Units exchanged by employees (in shares) | 983 | ' | ' | ' | ' | ' | ' | ' | ' | 2,913 | 2,108 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29 | 21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase to Additional Paid-In-Capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,222 | 15,022 | ' | 1,586 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,178 | 1,477 | ' | ' |
LP Units purchased (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 185 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,893 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Unrealized Gain (Loss) on Marketable Securities | ' | -2,409 | ' | ' | ' | ' | ' | ' | ' | -2,409 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Translation Adjustment Gain (Loss), net | ' | -8,375 | ' | ' | ' | ' | ' | ' | ' | -8,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) from Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,260 | 0 | -4,198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,683 | 409 |
Provision (Benefit) for Income Taxes from Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($1,470) | $0 | ($722) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($573) | $135 |
Noncontrolling_Interest_Additi
Noncontrolling Interest - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 |
Evercore LP [Member] | ECB [Member] | EWM [Member] | EWM [Member] | EWM [Member] | EWM [Member] | EWM [Member] | Atalanta Sosnoff [Member] | Atalanta Sosnoff [Member] | Institutional Equities [Member] | PCA [Member] | Evercore Trust Company [Member] | Evercore Trust Company [Member] | Pan [Member] | Trilantic [Member] | Trilantic [Member] | Trilantic [Member] | LP Units [Member] | LP Units [Member] | ||||
Noncontrolling Interest [Member] | Additional Paid-In Capital [Member] | Mt Eden Investment Advisors LLC [Member] | Trilantic [Member] | |||||||||||||||||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest (as a percent) | ' | ' | ' | 14.00% | 28.00% | ' | 49.00% | ' | ' | ' | 34.00% | ' | 38.00% | 20.00% | ' | 14.00% | 32.00% | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest from Discontinued Operations | ($1,185) | ($2,510) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest | -180 | 117 | -338 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive (Income) Loss, Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest | -48 | 1,152 | -1,880 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issued LP Units (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' |
LP units convertible conversion ratio | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 |
Redemption Value Of Issued LP Units, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500 | ' | ' | ' | ' |
Redeemable Noncontrolling Interest | 36,805 | 49,727 | ' | ' | ' | 29,399 | 32,523 | ' | ' | ' | 4,283 | 3,997 | ' | ' | ' | ' | ' | ' | 16,331 | 16,090 | ' | ' |
Redemption period (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Redemption value accretion | 68 | 84 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of units, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,693 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Unit, Issued (in units) | ' | ' | ' | ' | ' | 10,950 | ' | ' | ' | 1,486 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unit Fair Value (per unit) | ' | ' | ' | ' | ' | $1,812 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase from expiration of key-ma life insurance policies | ' | ' | ' | ' | ' | 19,841 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase from fair value | ' | ' | ' | ' | ' | 6,145 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in the redeemable noncontrolling interests | ' | ' | ' | ' | ' | 28,679 | ' | 3,606 | 25,073 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7,890 | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling_Interest_Change
Noncontrolling Interest Changes In Noncontrolling Interest (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | $62,243 | ' | ' | ' | ' | $62,243 | ' | ' |
Operating income | -6,474 | -4,292 | -5,585 | -2,409 | -5,963 | -2,172 | -4,207 | 1,752 | -18,760 | -10,590 | -3,579 |
Total comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | -18,532 | -11,859 | -1,361 |
Ending balance | 60,577 | ' | ' | ' | 62,243 | ' | ' | ' | 60,577 | 62,243 | ' |
Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | 62,243 | ' | ' | ' | 58,162 | 62,243 | 58,162 | 66,542 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 18,760 | 10,590 | 3,579 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -228 | 1,269 | -2,218 |
Total comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 18,532 | 11,859 | 1,361 |
Evercore LP Units Purchased or Converted into Class A Shares | ' | ' | ' | ' | ' | ' | ' | ' | -21,414 | -9,867 | -12,268 |
Amortization and Vesting of LP Units | ' | ' | ' | ' | ' | ' | ' | ' | 20,365 | 21,697 | 21,057 |
Distributions to Noncontrolling Interests | ' | ' | ' | ' | ' | ' | ' | ' | -18,950 | -16,528 | -19,087 |
Fair value of Noncontrolling Interest in Pan | ' | ' | ' | ' | ' | ' | ' | ' | 309 | 0 | 0 |
Issuance of Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 4,021 | 469 | 917 |
Purchase of Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -4,529 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -3,549 | -360 |
Total other items | ' | ' | ' | ' | ' | ' | ' | ' | -20,198 | -7,778 | -9,741 |
Ending balance | $60,577 | ' | ' | ' | $62,243 | ' | ' | ' | $60,577 | $62,243 | $58,162 |
Net_Income_Loss_Per_Share_Attr2
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders Calculations of Basic and Diluted Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Earnings Per Share, Basic and Diluted [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net income from continuing operations attributable to Evercore Partners Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $54,799 | $28,805 | $7,834 | |||
Net income (loss) from discontinued operations attributable to Evercore Partners Inc. common shareholders | -16 | -1,826 | -55 | -893 | 0 | 0 | 0 | 0 | -1,605 | 0 | -966 | |||
Net income attributable to Evercore Partners Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 53,194 | 28,805 | 6,868 | |||
Weighted average shares of Class A common stock outstanding, including vested restricted stock units (RSUs) (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 32,208 | 29,275 | 26,019 | |||
Basic net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | $0.51 | $0.47 | $0.52 | $0.20 | $0.64 | $0.18 | $0.27 | ($0.12) | $1.70 | $0.98 | $0.30 | |||
Basic net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | $0 | ($0.04) | $0 | ($0.01) | $0 | $0 | $0 | $0 | ($0.05) | $0 | ($0.04) | |||
Basic net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) | $0.51 | $0.43 | $0.52 | $0.19 | $0.64 | $0.18 | $0.27 | ($0.12) | $1.65 | $0.98 | $0.26 | |||
Diluted weighted average shares of Class A common stock outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 38,481 | 32,548 | 29,397 | |||
Diluted net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | $0.42 | $0.39 | $0.44 | $0.17 | $0.56 | $0.17 | $0.25 | ($0.12) | $1.42 | $0.89 | $0.27 | |||
Diluted net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | $0 | ($0.03) | $0 | ($0.01) | $0 | $0 | $0 | $0 | ($0.04) | $0 | ($0.04) | |||
Diluted net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) | $0.42 | $0.36 | $0.44 | $0.16 | $0.56 | $0.17 | $0.25 | ($0.12) | $1.38 | $0.89 | $0.23 | |||
Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Earnings Per Share, Basic and Diluted [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net income from continuing operations attributable to Evercore Partners Inc. | ' | ' | ' | ' | ' | ' | ' | ' | 54,867 | 28,889 | 7,918 | |||
Associated accretion of redemption price of noncontrolling interest in Trilantic (See Note 15) | ' | ' | ' | ' | ' | ' | ' | ' | -68 | -84 | -84 | |||
Net income from continuing operations attributable to Evercore Partners Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 54,799 | 28,805 | 7,834 | |||
Net income (loss) from discontinued operations attributable to Evercore Partners Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | -1,605 | 0 | -966 | |||
Net income attributable to Evercore Partners Inc. common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 53,194 | 28,805 | 6,868 | |||
Weighted average shares of Class A common stock outstanding, including vested restricted stock units (RSUs) (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 32,208 | 29,275 | 26,019 | |||
Basic net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $1.70 | $0.98 | $0.30 | |||
Basic net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ($0.05) | $0 | ($0.04) | |||
Basic net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $1.65 | $0.98 | $0.26 | |||
Noncontrolling Interest Related To Assumed Exchange Of Lp Units For Common Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | [1] | ' | [1] | ' | [1] |
Associated Corporate Taxes Related To Assumed Elimination Of Noncontrolling Interest Described | ' | ' | ' | ' | ' | ' | ' | ' | ' | [1] | ' | [1] | ' | [1] |
Diluted net income from continuing operations attributable to Class A common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 54,799 | 28,805 | 7,834 | |||
Diluted net income attributable to Class A common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 53,194 | 28,805 | 6,868 | |||
Amount Of Dilutive Partnership Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | [1] | ' | [1] | ' | [1] |
Additional shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs and deferred consideration, as calculated using the Treasury Stock Method (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 3,585 | 2,386 | 1,903 | |||
Assumed conversion of Warrants issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 2,688 | 887 | 1,475 | |||
Diluted weighted average shares of Class A common stock outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 38,481 | 32,548 | 29,397 | |||
Diluted net income per share from continuing operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $1.42 | $0.89 | $0.27 | |||
Diluted net income (loss) per share from discontinued operations attributable to Evercore Partners Inc. common shareholders (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | $0 | ($0.04) | |||
Diluted net income per share attributable to Evercore Partners Inc. common shareholders (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $1.38 | $0.89 | $0.23 | |||
[1] | The Company has outstanding LP Units in its subsidiary, Evercore LP, which give the holders the right to receive Class A Shares upon exchange on a one for one basis. During the years ended December 31, 2013, 2012 and 2011, the LP Units were antidilutive and consequently the effect of their exchange into ClassB A Shares has been excluded from the calculation of diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders. The units that would have been included in the denominator of the computation of diluted net income (loss) per share attributable to Evercore Partners Inc. common shareholders if the effect would have been dilutive were 6,433, 8,695 and 10,356 for the years ended December 31, 2013, 2012 and 2011, respectively. The adjustment to the numerator, Diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $12,804, $8,135 and $5,692 for the years ended December 31, 2013, 2012 and 2011, respectively. In computing this adjustment, the Company assumes that all vested LP Units, and all unvested LP Units after applying the treasury stock method, are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Partners Inc. and, that it has adopted a conventional corporate tax structure and is taxed as a C Corporation in the U.S. at prevailing corporate tax rates. The Company does not anticipate that the LP Units will result in a dilutive computation in future periods. |
Net_Income_Loss_Per_Share_Attr3
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders Calculations of Basic and Diluted Net Income Per Share Attributable to Evercore Partners Inc. Common Shareholders (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Adjustment To Diluted Net Income Attributable To Class A Common Shareholders If LP Units Were Dilutive | $12,804 | $8,135 | $5,692 |
LP Units [Member] | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 6,433 | 8,695 | 10,356 |
ShareBased_and_Other_Deferred_2
Share-Based and Other Deferred Compensation - Additional information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 2 Months Ended | |||||||||||||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 26, 2014 | Feb. 26, 2014 |
Employee | Long Term Incentive Plan [Member] | Long Term Incentive Plan [Member] | Employee Loans [Member] | 2006 Stock Incentive Plan [Member] | 2006 Stock Incentive Plan [Member] | IPO Event-Based Awards [Member] | IPO Event-Based Awards [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Equity Grants [Member] | Class A [Member] | Class A [Member] | Restricted Stock Units (RSUs) [Member] | LP Units [Member] | LP Units [Member] | LP Units [Member] | Acquisition-Related [Member] | Acquisition-Related [Member] | Acquisition-Related [Member] | Acquisition-Related [Member] | Acquisition-Related [Member] | Acquisition-Related [Member] | Acquisition-Related [Member] | Acquisition-Related [Member] | 2012 Equity Grants [Member] | Deferred Cash Program [Member] | Deferred Cash Program [Member] | Deferred Cash Program [Member] | Deferred Cash Program [Member] | Deferred Cash Program [Member] | Other Share Based Awards [Member] | Other Deferred Cash [Member] | |||||
Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | 2006 Stock Incentive Plan [Member] | IPO Event-Based Awards [Member] | Equity Grants [Member] | Unvested Acquisition-Related Equity Awards [Member] | Unvested Acquisition-Related Equity Awards [Member] | Unvested Acquisition-Related Equity Awards [Member] | Unvested Acquisition-Related Equity Awards [Member] | Class A [Member] | Service-Based Awards [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Lexicon Deferred Compensation [Member] | Lexicon Deferred Compensation [Member] | Lexicon Deferred Compensation [Member] | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original Grant of Vested LP units (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,548,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original Grant of Unvested LP units (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,589,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP units convertible conversion ratio | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of LP Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20,063 | $20,971 | $22,189 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,883,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total compensation expense not yet recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,561 | ' | ' | ' | ' | 113,469 | ' | ' | 4,706 | ' | ' | ' | ' |
Weighted-average period over which the compensation cost is expected to be recognized (in months) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 months | ' | ' | ' | ' | '20 months | ' | ' | '16 months | ' | ' | ' | ' |
Compensation expense related to acquisition related awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,960 | 18,749 | 6,621 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense related to deferred cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,937 | 7,216 | 2,455 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant of acquisition related deferred compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,892 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred compensation, vesting period (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense related to acquisition related deferred compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 211 | 875 | 413 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock authorized under plan (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional shares authorized (in shares) | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available to be granted in future (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 7,323,000 | 4,667,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSU's fully vested but not delivered (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 525,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original grant of event based awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,286,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSUs convertible into Class A common Stock ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unvested awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | 6,680,000 | 7,972,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting of Event-based Awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,467 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Awards forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,000 | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | 256,000 | 76,000 | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash awards granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,926 | 9,153 | ' | ' | ' | ' | 5,935 |
Deferred compensation, vesting period (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' |
Compensation expense related to deferred compensation program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,804 | 4,210 | 1,938 | ' | ' |
Shares issued during period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,398,000 | ' | ' | ' | ' | ' | ' | ' | ' | 3,163,000 | 2,273,000 | ' | ' | 2,398,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,767,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26.60 | $22.62 | $21.93 | $55.24 | $29.19 | $36.41 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested units (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 546,000 | ' | 3,630,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,760,000 | 1,552,000 | ' | ' | 2,188,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense related to Service-based Award | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,840 | 47,299 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,678 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Modification of Unvested Award (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Modification of Vested Award (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based awards reclassified from additional paid-in-capital to other current liabilities | ' | ' | ' | ' | 2,828 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax benefit related to share-based compensation arrangements | ' | ' | 29,497 | 26,773 | 19,423 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Awards, vesting period (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' |
Requisite service period (in years) | ' | ' | ' | ' | ' | ' | ' | 'one | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum contractual term (in years) | ' | ' | ' | ' | ' | ' | ' | 'five | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Compensation Arrangement Compensation expense | ' | ' | ' | ' | ' | ' | 1,584 | 7,433 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Compensation Arrangement Recorded liability | ' | ' | ' | ' | ' | ' | ' | 13,378 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LP Units, Transfer Restrictions Released (in shares) | 1,267,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Class A shares, transfer restrictions released (in shares) | 610,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Separation expense to certain employees | ' | ' | 4,834 | 7,273 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash distribution for separation benefit | ' | ' | 3,314 | 5,135 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of employees with modified equity based compensation awards | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Compensation Expense From Modifications | ' | ' | ' | ' | $4,261 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Incentive Plan Performance Period | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Incentive Plan Payment Period | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBased_and_Other_Deferred_3
Share-Based and Other Deferred Compensation Summary of Activity Related to Share-Based Payment Awards (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Acquisition-Related [Member] | ' |
Number of Shares | ' |
Unvested Balance at beginning of period | 1,719 |
Granted | 27 |
Vested | -619 |
Unvested Balance at end of period | 1,127 |
Grant Date Weighted Average Fair Value | ' |
Unvested at beginning of period | $39,338 |
Granted | 1,221 |
Vested | -14,395 |
Unvested at end of period | 26,164 |
Equity Grants [Member] | ' |
Number of Shares | ' |
Unvested Balance at beginning of period | 7,972 |
Granted | 2,398 |
Forfeited | -60 |
Vested | -3,630 |
Unvested Balance at end of period | 6,680 |
Grant Date Weighted Average Fair Value | ' |
Unvested at beginning of period | 196,868 |
Granted | 75,229 |
Forfeited | -1,789 |
Vested | -88,706 |
Unvested at end of period | $181,602 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 27, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Feb. 05, 2014 | |
Commitments [Member] | Trilantic [Member] | EGL [Member] | Office Equipment [Member] | Office Equipment [Member] | Office Equipment [Member] | Letter of Credit [Member] | Letter of Credit [Member] | First Republic Bank [Member] | First Republic Bank [Member] | Protego [Member] | Private Equity Funds [Member] | Private Equity Funds [Member] | Private Equity Funds [Member] | Private Equity Funds [Member] | Private Equity Funds [Member] | Subsequent Event [Member] | ||||
Discovery Fund [Member] | Discovery Fund [Member] | Discovery Fund [Member] | First Republic Bank [Member] | |||||||||||||||||
Protego [Member] | ||||||||||||||||||||
Commitment And Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating lease agreements expiration date | 'Various dates through 2023 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rental expense relating to operating leases | $23,905,000 | $22,714,000 | $16,136,000 | ' | ' | ' | $1,049,000 | $627,000 | $510,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Assets | 23,190,000 | 14,067,000 | ' | ' | ' | ' | ' | ' | ' | 3,660,000 | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded commitments for capital contributions | 9,945,000 | ' | ' | ' | 4,265,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit intra-day facility | 11,481,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis points | 0.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual obligations related to the Tax Receivable Agreements | ' | ' | ' | 184,643,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, within one year or less | ' | ' | ' | 8,872,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, one to three years | ' | ' | ' | 29,928,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, three to five years | ' | ' | ' | 33,330,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, after five years | ' | ' | ' | 112,513,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum commitment in member's equity fund | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of the return proceeds received payable (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' |
Investment in private equity funds | 67,560,000 | 69,320,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,379,000 | 26,578,000 | 5,015,000 | 3,060,000 | 5,015,000 | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | $25,000,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies Aggregate Minimum Future Payments Required on Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $20,489 |
2015 | 19,700 |
2016 | 20,598 |
2017 | 18,835 |
2018 | 18,182 |
Thereafter | 71,732 |
Total | $169,536 |
Regulatory_Authorities_Additio
Regulatory Authorities - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
EGL [Member] | EGL [Member] | Evercore Trust Company [Member] | |
Regulatory Authorities [Line Items] | ' | ' | ' |
Alternative Net Capital Requirement | $250,000 | ' | ' |
Net Capital | 30,480,000 | 31,281,000 | ' |
Alternative excess net capital | 30,230,000 | 27,871,000 | ' |
Tier 1 capital | ' | ' | 5,000,000 |
Minimum liquid assets, amount | ' | ' | 3,500,000 |
Coverage of operating expenses (in days) | ' | ' | '90 days |
Collateral held in a segregated account at a third-party depository institution | ' | ' | $10,000,000 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Line Items] | ' | ' | ' |
Taxes Payable | $20,304 | $4,713 | $20,304 |
LP Units exchanged by employees (in shares) | 983 | 2,913 | 2,108 |
LP Units Exchanged by Employees Which Triggered Additional Liability Under Tax Receivable Agreement | ' | 1,377 | ' |
Payment to the LP Unit holders of the cash tax savings (as a percent) | ' | 85.00% | ' |
Retained percent of tax benefits (as a percent) | ' | 15.00% | ' |
Deferred Tax Assets - Non-Current | 229,449 | 251,613 | 229,449 |
Amounts Due Pursuant to Tax Receivable Agreements | 165,350 | 175,771 | 165,350 |
Increase to Additional Paid-In-Capital | ' | 20,222 | 15,022 |
Increase (decrease) in deferred tax assets, changes in compensation benefits | ' | 5,777 | ' |
Increase (decrease) in deferred tax assets, changes in depreciation and amortization | ' | 5,931 | ' |
Increase (decrease) in deferred tax assets, changes in unrealized gain (loss) on marketable securities | ' | 182 | -111 |
Increase (decrease) in deferred tax assets, changes in foreign currency translation adjustments | ' | 307 | 1,870 |
Unrecognized tax benefits that would affect the effective tax rate | ' | 474 | ' |
Income tax penalties and interest expense | ' | 166 | 16 |
Income tax penalties and interest accrued | 49 | 215 | 49 |
Tax benefits associated with the lapse of statute of limitations | ' | ' | -603 |
U.K. [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss and tax credit carryforwards | ' | 2,398 | ' |
Exchange of LP Units [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
LP Units exchanged by employees (in shares) | ' | 1,930 | ' |
Deferred Tax Assets - Non-Current | ' | 31,534 | ' |
Amounts Due Pursuant to Tax Receivable Agreements | ' | 26,804 | ' |
Increase to Additional Paid-In-Capital | ' | 4,730 | ' |
Foreign Subsidiaries [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Undistributed earnings of foreign subsidiaries | ' | 4,476 | ' |
Unrecognized net deferred tax liability | ' | $1,288 | ' |
Income_Taxes_Components_of_Inc
Income Taxes Components of Income (Loss) Before Income Tax Expense (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Schedule of Income Before Income Tax [Line Items] | ' | ' | ' | |||
Income before Income Tax Expense | $118,556 | [1] | $59,797 | [1] | $30,642 | [1] |
U.S. [Member] | ' | ' | ' | |||
Schedule of Income Before Income Tax [Line Items] | ' | ' | ' | |||
Income before Income Tax Expense | 89,821 | 45,226 | 37,681 | |||
Non-U.S. [Member] | ' | ' | ' | |||
Schedule of Income Before Income Tax [Line Items] | ' | ' | ' | |||
Income before Income Tax Expense | $28,735 | $14,571 | ($7,039) | |||
[1] | (a)From continuing operations, net of Noncontrolling Interest from continuing operations. |
Income_Taxes_Components_of_Pro
Income Taxes Components of Provision for Income Taxes Reflected on Consolidated Statements of Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | $24,607 | $24,956 | $2,367 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 11,982 | 6,007 | 4,447 |
State and Local | ' | ' | ' | ' | ' | ' | ' | ' | 7,541 | 7,912 | 4,942 |
Total Current | ' | ' | ' | ' | ' | ' | ' | ' | 44,130 | 38,875 | 11,756 |
Deferred: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | 5,992 | -2,458 | 11,368 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 4,733 | -4,756 | -1,129 |
State and Local | ' | ' | ' | ' | ' | ' | ' | ' | 8,834 | -753 | 729 |
Total Deferred | ' | ' | ' | ' | ' | ' | ' | ' | 19,559 | -7,967 | 10,968 |
Total | $26,474 | $12,350 | $17,130 | $7,735 | $18,586 | $7,187 | $9,773 | ($4,638) | $63,689 | $30,908 | $22,724 |
Income_Taxes_Reconciliation_Be
Income Taxes Reconciliation Between Statutory Federal Income Tax Rate and Effective Tax Rate (Detail) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Reconciliation of Federal Statutory Tax Rates (as a percent) | ' | ' | ' | |||
U.S. Statutory Tax Rate | 35.00% | 35.00% | 35.00% | |||
Increase (Decrease) Due to State and Local Taxes | 5.30% | 6.80% | 13.10% | |||
Rate Benefits as a Limited Liability Company/Flow Through | -7.00% | -6.90% | -5.70% | |||
Foreign Taxes | 3.20% | 2.20% | 4.30% | |||
Non-Deductible Expenses | 3.40% | [1] | 9.40% | [1] | 17.10% | [1] |
Valuation Allowances | 0.00% | -2.00% | -0.90% | |||
Write Down of Deferred Tax Asset | 6.80% | 1.60% | 0.00% | |||
Other Adjustments | -0.70% | -2.20% | -1.00% | |||
Effective Income Tax Rate | 46.00% | 43.90% | 61.90% | |||
[1] | (1)Primarily related to non-deductible share-based compensation expense. |
Income_Taxes_Details_of_Deferr
Income Taxes Details of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current Deferred Tax Assets: | ' | ' |
Step up in tax basis due to the exchange of LP Units for Class A Shares | $11,271 | $9,214 |
Total Current Deferred Tax Asset | 11,271 | 9,214 |
Long-term Deferred Tax Assets: | ' | ' |
Depreciation and Amortization | 20,604 | 14,673 |
Compensation and Benefits | 31,735 | 25,958 |
Step up in tax basis due to the exchange of LP Units for Class A Shares | 192,811 | 181,783 |
Other | 21,396 | 17,043 |
Total Long-term Deferred Tax Assets | 266,546 | 239,457 |
Long-term Deferred Tax Liabilities: | ' | ' |
Goodwill, Investments and Other | 14,933 | 10,008 |
Total Long-term Deferred Tax Liabilities | 14,933 | 10,008 |
Net Long-term Deferred Tax Assets Before Valuation Allowance | 251,613 | 229,449 |
Valuation Allowance | 0 | 0 |
Net Long-term Deferred Tax Assets | $251,613 | $229,449 |
Income_Taxes_Reconciliation_of
Income Taxes Reconciliation of Changes in Tax Positions (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Beginning unrecognized tax benefit | $98 | $1,109 | $2,012 |
Additions for tax positions of prior years | 526 | 0 | 98 |
Lapse of Statute of Limitations | 0 | -1,011 | -1,001 |
Ending unrecognized tax benefit | $624 | $98 | $1,109 |
Concentrations_of_Credit_Risk_
Concentrations of Credit Risk - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Concentration Risk [Line Items] | ' | ' | ' |
Securities Purchased Under Agreements to Resell | $19,134 | $0 | ' |
Securities Sold Under Agreements to Repurchase | 75,563 | 120,787 | ' |
Total receivable | 83,347 | 89,098 | ' |
Investment banking and investment management receivables collection periods (in days) | '90 days | ' | ' |
Collection period for restructuring transactions and private equity fee receivables (in days) | '90 days | ' | ' |
Bad debt expense | 2,099 | 1,803 | 1,558 |
Marketable Securities | 43,407 | 36,545 | ' |
Percentage of marketable securities related to corporate and municipal bonds and other debt securities (as percent) | 52.00% | ' | ' |
Percentage of marketable securities related to seed capital investments and mutual funds (as a percent) | 48.00% | ' | ' |
Asset (Liability) Balance [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Securities Purchased Under Agreements to Resell | 19,134 | 0 | ' |
Securities Sold Under Agreements to Repurchase | 75,563 | 120,787 | ' |
Market Value of Collateral Received or (Pledged) [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Securities Purchased Under Agreements to Resell | 19,112 | 0 | ' |
Securities Sold Under Agreements to Repurchase | $75,708 | $121,029 | ' |
Segment_Operating_Results_Addi
Segment Operating Results - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
segment | |
Segment Reporting [Abstract] | ' |
Number of operating segments (in segments) | 2 |
Segment_Operating_Results_Deta
Segment Operating Results (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Revenues | $218,672 | $187,328 | $206,797 | $152,631 | $214,049 | $153,029 | $172,497 | $102,798 | $765,428 | [1] | $642,373 | [1] | $524,264 | [1] |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 598,806 | 523,386 | 427,155 | |||
Other Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 36,447 | [2] | 53,452 | [2] | 61,297 | [2] |
Income (Loss) Before Income from Equity Method Investments and Income Taxes | 43,876 | 31,868 | 38,181 | 16,250 | 42,238 | 14,245 | 21,195 | -12,143 | 130,175 | 65,535 | 35,812 | |||
Income from Equity Method Investments | 5,993 | 562 | 1,015 | 756 | 1,333 | 415 | 719 | 2,385 | 8,326 | 4,852 | 919 | |||
Pre-Tax Income (Loss) from Continuing Operations | 49,869 | 32,430 | 39,196 | 17,006 | 43,571 | 14,660 | 21,914 | -9,758 | 138,501 | 70,387 | 36,731 | |||
Identifiable Segment Assets | 1,180,783 | ' | ' | ' | 1,145,218 | ' | ' | ' | 1,180,783 | 1,145,218 | 1,043,592 | |||
Investment Banking [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 670,785 | [1] | 565,219 | [1] | 428,124 | [1] |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 516,921 | 444,510 | 337,886 | |||
Other Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 33,740 | [2] | 50,774 | [2] | 55,591 | [2] |
Income (Loss) Before Income from Equity Method Investments and Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 120,124 | 69,935 | 34,647 | |||
Income from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 2,906 | 2,258 | 1,101 | |||
Pre-Tax Income (Loss) from Continuing Operations | ' | ' | ' | ' | ' | ' | ' | ' | 123,030 | 72,193 | 35,748 | |||
Identifiable Segment Assets | 693,890 | ' | ' | ' | 624,977 | ' | ' | ' | 693,890 | 624,977 | 530,008 | |||
Investment Management [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 94,643 | [1] | 77,154 | [1] | 96,140 | [1] |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 81,885 | 78,876 | 89,269 | |||
Other Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,707 | [2] | 2,678 | [2] | 5,706 | [2] |
Income (Loss) Before Income from Equity Method Investments and Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 10,051 | -4,400 | 1,165 | |||
Income from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 5,420 | 2,594 | -182 | |||
Pre-Tax Income (Loss) from Continuing Operations | ' | ' | ' | ' | ' | ' | ' | ' | 15,471 | -1,806 | 983 | |||
Identifiable Segment Assets | $486,893 | ' | ' | ' | $520,241 | ' | ' | ' | $486,893 | $520,241 | $513,584 | |||
[1] | Net revenues include Other Revenue, net, allocated to the segments as follows:B For the Years Ended December 31,B 2013B 2012B 2011Investment Banking (A)$3,979B $(3,019)B $(2,473)Investment Management (B)(1,116)B (2,636)B (3,021)Total Other Revenue, net$2,863B $(5,655)B $(5,494)B (A)Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013.(B)Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013. | |||||||||||||
[2] | Other Expenses are as follows:B For the Years Ended December 31,B 2013B 2012B 2011Investment Banking Amortization of LP Units and Certain Other Awards$17,817B $18,601B $21,328Vesting of Event-based AwardsbB bB 8,906Acquisition Related Compensation Charges15,923B 28,163B 14,618Special ChargesbB 662B 3,894Intangible Asset AmortizationbB 3,348B 6,845Total Investment Banking33,740B 50,774B 55,591Investment Management Amortization of LP Units and Certain Other Awards2,209B 2,350B 2,892Vesting of Event-based AwardsbB bB 2,483Special Charges170B bB bIntangible Asset Amortization328B 328B 331Total Investment Management2,707B 2,678B 5,706Total Other Expenses$36,447B $53,452B $61,297 |
Segment_Operating_Results_Pare
Segment Operating Results (Parenthetical) (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Other Revenue, net | $2,863 | ($5,655) | ($5,494) | |||
Special Charges | 170 | 662 | 3,894 | |||
Other Expenses | 36,447 | [1] | 53,452 | [1] | 61,297 | [1] |
Investment Banking [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Other Revenue, net | 3,979 | [2] | -3,019 | [2] | -2,473 | [2] |
Interest expense on Senior Notes | 4,386 | 4,312 | 4,238 | |||
Other Revenue, net, Changes in Tax Receivable Agreement | 5,524 | ' | ' | |||
Amortization of LP Units and Certain Other Awards | 17,817 | 18,601 | 21,328 | |||
Vesting of Event-based Awards | 0 | 0 | 8,906 | |||
Acquisition Related Compensation Charges | 15,923 | 28,163 | 14,618 | |||
Special Charges | 0 | 662 | 3,894 | |||
Intangible Asset Amortization | 0 | 3,348 | 6,845 | |||
Other Expenses | 33,740 | [1] | 50,774 | [1] | 55,591 | [1] |
Investment Management [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Other Revenue, net | -1,116 | [3] | -2,636 | [3] | -3,021 | [3] |
Interest expense on Senior Notes | 3,702 | 3,643 | 3,579 | |||
Other Revenue, net, Changes in Tax Receivable Agreement | 1,381 | ' | ' | |||
Amortization of LP Units and Certain Other Awards | 2,209 | 2,350 | 2,892 | |||
Vesting of Event-based Awards | 0 | 0 | 2,483 | |||
Special Charges | 170 | 0 | 0 | |||
Intangible Asset Amortization | 328 | 328 | 331 | |||
Other Expenses | $2,707 | [1] | $2,678 | [1] | $5,706 | [1] |
[1] | Other Expenses are as follows:B For the Years Ended December 31,B 2013B 2012B 2011Investment Banking Amortization of LP Units and Certain Other Awards$17,817B $18,601B $21,328Vesting of Event-based AwardsbB bB 8,906Acquisition Related Compensation Charges15,923B 28,163B 14,618Special ChargesbB 662B 3,894Intangible Asset AmortizationbB 3,348B 6,845Total Investment Banking33,740B 50,774B 55,591Investment Management Amortization of LP Units and Certain Other Awards2,209B 2,350B 2,892Vesting of Event-based AwardsbB bB 2,483Special Charges170B bB bIntangible Asset Amortization328B 328B 331Total Investment Management2,707B 2,678B 5,706Total Other Expenses$36,447B $53,452B $61,297 | |||||
[2] | Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013. | |||||
[3] | Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013. |
Segment_Operating_Results_Reve
Segment Operating Results Revenues Derived from Clients and Private Equity Funds by Geographical Areas (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Net revenue | $762,565 | [1] | $648,028 | [1] | $529,758 | [1] |
United States [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Net revenue | 532,615 | [1] | 452,594 | [1] | 387,063 | [1] |
Europe and Other [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Net revenue | 145,267 | [1] | 151,261 | [1] | 112,049 | [1] |
Latin America [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Net revenue | $84,683 | [1] | $44,173 | [1] | $30,646 | [1] |
[1] | Excludes Other Revenue and Interest Expense. |
Evercore_Partners_Inc_Financia
Evercore Partners Inc. Financial Statements Condensed Statements Of Financial Condition, Parent Company Only (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
ASSETS | ' | ' | ' |
Other Assets | $23,190 | $14,067 | ' |
Total Assets | 1,180,783 | 1,145,218 | 1,043,592 |
Liabilities | ' | ' | ' |
Taxes Payable | 4,713 | 20,304 | ' |
Amounts Due Pursuant to Tax Receivable Agreements | 175,771 | 165,350 | ' |
Long-term Debt - Notes Payable | 103,226 | 101,375 | ' |
Total Liabilities | 580,820 | 604,742 | ' |
Stockholders' Equity | ' | ' | ' |
Additional Paid-In-Capital | 799,233 | 654,275 | ' |
Accumulated Other Comprehensive Income (Loss) | -10,784 | -9,086 | ' |
Retained Earnings (Deficit) | -59,896 | -77,079 | ' |
Treasury Stock at Cost (7,702,900 and 5,463,515 shares at December 31, 2013 and 2012, respectively) | -226,380 | -139,954 | ' |
TOTAL STOCKHOLDERS' EQUITY | 502,581 | 428,506 | ' |
Total Liabilities and Equity | 1,180,783 | 1,145,218 | ' |
Class A [Member] | ' | ' | ' |
Stockholders' Equity | ' | ' | ' |
Common Stock | 408 | 350 | ' |
Class B [Member] | ' | ' | ' |
Stockholders' Equity | ' | ' | ' |
Common Stock | 0 | 0 | ' |
Parent Company [Member] | ' | ' | ' |
ASSETS | ' | ' | ' |
Equity Investment in Subsidiary | 531,380 | 490,856 | ' |
Deferred Tax Asset | 254,486 | 225,741 | ' |
Other Assets | 6,656 | 0 | ' |
Total Assets | 792,522 | 716,597 | ' |
Liabilities | ' | ' | ' |
Payable to Related Party | 8,881 | 7,282 | ' |
Taxes Payable | 0 | 11,872 | ' |
Amounts Due Pursuant to Tax Receivable Agreements | 175,771 | 165,350 | ' |
Long-term Debt - Notes Payable | 103,226 | 101,375 | ' |
Other Liabilities | 2,063 | 2,212 | ' |
Total Liabilities | 289,941 | 288,091 | ' |
Stockholders' Equity | ' | ' | ' |
Additional Paid-In-Capital | 799,233 | 654,275 | ' |
Accumulated Other Comprehensive Income (Loss) | -10,784 | -9,086 | ' |
Retained Earnings (Deficit) | -59,896 | -77,079 | ' |
Treasury Stock at Cost (7,702,900 and 5,463,515 shares at December 31, 2013 and 2012, respectively) | -226,380 | -139,954 | ' |
TOTAL STOCKHOLDERS' EQUITY | 502,581 | 428,506 | ' |
Total Liabilities and Equity | 792,522 | 716,597 | ' |
Parent Company [Member] | Class A [Member] | ' | ' | ' |
Stockholders' Equity | ' | ' | ' |
Common Stock | 408 | 350 | ' |
Parent Company [Member] | Class B [Member] | ' | ' | ' |
Stockholders' Equity | ' | ' | ' |
Common Stock | $0 | $0 | ' |
Evercore_Partners_Inc_Financia1
Evercore Partners Inc. Financial Statements Condensed Statements Of Financial Condition, Parent Company Only (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Treasury Stock at Cost, shares | 7,702,900 | 5,463,515 |
Class A [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Common Stock, par value | 0.01 | 0.01 |
Common Stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, shares issued | 40,772,434 | 35,040,501 |
Common Stock, shares outstanding | 33,069,534 | 29,576,986 |
Class B [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Common Stock, par value | 0.01 | 0.01 |
Common Stock, shares authorized | 1,000,000 | 1,000,000 |
Common Stock, shares issued | 42 | 43 |
Common Stock, shares outstanding | 42 | 43 |
Parent Company [Member] | Class A [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Common Stock, par value | 0.01 | ' |
Common Stock, shares authorized | 1,000,000,000 | ' |
Common Stock, shares issued | 40,772,000 | ' |
Parent Company [Member] | Class B [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Common Stock, par value | 0.01 | ' |
Common Stock, shares authorized | 1,000,000 | ' |
Evercore_Partners_Inc_Financia2
Evercore Partners Inc. Financial Statements Condensed Statements Of Operations, Parent Company Only (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
REVENUES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $779,433 | $657,674 | $543,655 | |||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 14,005 | 15,301 | 19,391 | |||
Net Revenues | 218,672 | 187,328 | 206,797 | 152,631 | 214,049 | 153,029 | 172,497 | 102,798 | 765,428 | [1] | 642,373 | [1] | 524,264 | [1] |
EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
TOTAL EXPENSES | 174,796 | 155,460 | 168,616 | 136,381 | 171,811 | 138,784 | 151,302 | 114,941 | 635,253 | 576,838 | 488,452 | |||
Provision for Income Taxes | 26,474 | 12,350 | 17,130 | 7,735 | 18,586 | 7,187 | 9,773 | -4,638 | 63,689 | 30,908 | 22,724 | |||
Net Income | 23,379 | 18,254 | 22,011 | 8,378 | 24,985 | 7,473 | 12,141 | -5,120 | 72,022 | 39,479 | 10,531 | |||
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
REVENUES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 14,993 | 7,955 | 7,817 | |||
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 14,993 | 7,955 | 7,817 | |||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 8,088 | 7,955 | 7,817 | |||
Net Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 6,905 | 0 | 0 | |||
EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
TOTAL EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 6,905 | 0 | 0 | |||
Equity in Income of Subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 87,317 | 53,229 | 21,083 | |||
Provision for Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 40,960 | 24,340 | 14,131 | |||
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | $53,262 | $28,889 | $6,952 | |||
[1] | Net revenues include Other Revenue, net, allocated to the segments as follows:B For the Years Ended December 31,B 2013B 2012B 2011Investment Banking (A)$3,979B $(3,019)B $(2,473)Investment Management (B)(1,116)B (2,636)B (3,021)Total Other Revenue, net$2,863B $(5,655)B $(5,494)B (A)Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013.(B)Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013. |
Evercore_Partners_Inc_Financia3
Evercore Partners Inc. Financial Statements Condensed Statements Of Cash Flows, Parent Company Only (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net Income | $72,022 | $39,479 | $10,531 |
Deferred Taxes | 20,058 | -7,967 | 11,026 |
(Increase) Decrease in Operating Assets: | ' | ' | ' |
Other Assets | -19,945 | 15,485 | -144 |
Increase (Decrease) in Operating Liabilities: | ' | ' | ' |
Taxes Payable | -15,591 | 13,694 | -1,777 |
Other Liabilities | -1,925 | -1,951 | -8,739 |
Net Cash Provided by Operating Activities | 198,714 | 160,158 | 147,836 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Cash Paid for Acquisitions, net of cash acquired | 218 | -6,743 | -30,397 |
Net Cash Provided by (Used In) Investing Activities | -8,864 | 24,917 | -77,344 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from Equity Offering | 0 | 0 | 168,140 |
Dividends | -30,090 | -24,296 | -19,346 |
Net Cash Provided by (Used in) Financing Activities | -149,796 | -110,012 | -25,081 |
Net Increase in Cash and Cash Equivalents | 39,022 | 76,526 | 41,568 |
Cash and Cash Equivalents-Beginning of Period | 259,431 | 182,905 | 141,337 |
Cash and Cash Equivalents-End of Period | 298,453 | 259,431 | 182,905 |
Parent Company [Member] | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net Income | 53,262 | 28,889 | 6,952 |
Undistributed Income of Subsidiary | -87,317 | -53,229 | -21,083 |
Deferred Taxes | -28,745 | 0 | 0 |
Accretion on Long-term Debt | 1,851 | 1,711 | 1,582 |
(Increase) Decrease in Operating Assets: | ' | ' | ' |
Other Assets | -6,656 | 14,310 | 12,105 |
Increase (Decrease) in Operating Liabilities: | ' | ' | ' |
Payable to Uncombined Affiliates | 0 | 0 | 957 |
Taxes Payable | 11,872 | 11,872 | 0 |
Other Liabilities | 1,706 | -3,101 | -574 |
Net Cash Provided by Operating Activities | -54,027 | 452 | -61 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Cash Paid for Acquisitions, net of cash acquired | 0 | 0 | -30,397 |
Investment in Subsidiary | 90,949 | 24,239 | -22,994 |
Net Cash Provided by (Used In) Investing Activities | 90,949 | 24,239 | -53,391 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from Equity Offering | 0 | 0 | 168,140 |
Purchase of Evercore LP Units | -6,832 | -395 | -95,342 |
Dividends | -30,090 | -24,296 | -19,346 |
Net Cash Provided by (Used in) Financing Activities | -36,922 | -24,691 | 53,452 |
Net Increase in Cash and Cash Equivalents | 0 | 0 | 0 |
Cash and Cash Equivalents-Beginning of Period | 0 | 0 | 0 |
Cash and Cash Equivalents-End of Period | $0 | $0 | $0 |
Evercore_Partners_Inc_Financia4
Evercore Partners Inc. Financial Statements Evercore Partners Inc. (Parent Company Only) Financial Statements - Additional information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchased for the net settlement of stock-based compensation awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 983,000 | 726,000 | ' |
Increase in Treasury Stock | ' | ' | ' | ' | ' | ' | ' | ' | $87,620 | $66,588 | ' |
Decrease in treasury stock | ' | ' | ' | ' | ' | ' | ' | ' | 1,194 | 5,641 | ' |
Declared and paid dividends | $0.25 | $0.22 | $0.22 | $0.22 | $0.22 | $0.20 | $0.20 | $0.20 | $0.91 | $0.82 | $0.74 |
Dividend declared and paid, total | ' | ' | ' | ' | ' | ' | ' | ' | 30,090 | 24,296 | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $22.24 | $21.71 | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $55.12 | $29.62 | ' |
Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, shares authorized | 1,000,000,000 | ' | ' | ' | 1,000,000,000 | ' | ' | ' | 1,000,000,000 | 1,000,000,000 | ' |
Common Stock, par value | $0.01 | ' | ' | ' | $0.01 | ' | ' | ' | $0.01 | $0.01 | ' |
Common Stock, shares issued | 40,772,434 | ' | ' | ' | 35,040,501 | ' | ' | ' | 40,772,434 | 35,040,501 | ' |
Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, shares authorized | 1,000,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | 1,000,000 | 1,000,000 | ' |
Common Stock, par value | $0.01 | ' | ' | ' | $0.01 | ' | ' | ' | $0.01 | $0.01 | ' |
Common Stock, shares issued | 42 | ' | ' | ' | 43 | ' | ' | ' | 42 | 43 | ' |
Former Employee [Member] | Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' |
MJC Associates Agreement [Member] | Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 39,000 | 65,000 | ' |
Commitments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual obligations related to the Tax Receivable Agreements | 184,643 | ' | ' | ' | ' | ' | ' | ' | 184,643 | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, within one year or less | 8,872 | ' | ' | ' | ' | ' | ' | ' | 8,872 | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, one to three years | 29,928 | ' | ' | ' | ' | ' | ' | ' | 29,928 | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, three to five years | 33,330 | ' | ' | ' | ' | ' | ' | ' | 33,330 | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, after five years | 112,513 | ' | ' | ' | ' | ' | ' | ' | 112,513 | ' | ' |
Share Repurchase Program [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program number of shares purchased (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 1,298,000 | 1,884,000 | ' |
Share Repurchase Program [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $36 | $22.58 | ' |
Share Repurchase Program [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $41 | $26.62 | ' |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declared and paid dividends | ' | ' | ' | ' | ' | ' | ' | ' | $0.91 | ' | ' |
Dividend declared and paid, total | ' | ' | ' | ' | ' | ' | ' | ' | 30,090 | ' | ' |
Contractual obligations related to senior notes | 163,680 | ' | ' | ' | ' | ' | ' | ' | 163,680 | ' | ' |
Long Term Debt Maturities Repayments Of Principal And Interest In Next Twelve Months | 6,240 | ' | ' | ' | ' | ' | ' | ' | 6,240 | ' | ' |
Long Term Debt Maturities Repayments Of Principal And Interest In One To Three Years | 12,480 | ' | ' | ' | ' | ' | ' | ' | 12,480 | ' | ' |
Long Term Debt Maturities Repayments Of Principal And Interest In Three To Five Years | 12,480 | ' | ' | ' | ' | ' | ' | ' | 12,480 | ' | ' |
Thereafter | 132,480 | ' | ' | ' | ' | ' | ' | ' | 132,480 | ' | ' |
Contractual obligations related to the Tax Receivable Agreements | 184,643 | ' | ' | ' | ' | ' | ' | ' | 184,643 | ' | ' |
Changes in Tax Receivable Agreement | ' | ' | ' | ' | ' | ' | ' | ' | 6,905 | ' | ' |
Parent Company [Member] | Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, shares authorized | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' |
Common Stock, par value | $0.01 | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' |
Common Stock, shares issued | 40,772,000 | ' | ' | ' | ' | ' | ' | ' | 40,772,000 | ' | ' |
Shares purchased for the net settlement of stock-based compensation awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 983,000 | ' | ' |
Increase in Treasury Stock | ' | ' | ' | ' | ' | ' | ' | ' | 87,620 | ' | ' |
Decrease in treasury stock | ' | ' | ' | ' | ' | ' | ' | ' | 1,194 | ' | ' |
Parent Company [Member] | Class A [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $22.24 | ' | ' |
Parent Company [Member] | Class A [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $55.12 | ' | ' |
Parent Company [Member] | Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, shares authorized | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' |
Common Stock, par value | $0.01 | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' |
Common Stock, shares cancelled | 3 | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Stock Issued During Period, Shares, Other | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Exchange value of common stock (in dollars per share) | $1 | ' | ' | ' | ' | ' | ' | ' | $1 | ' | ' |
Parent Company [Member] | Former Employee [Member] | Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' |
Parent Company [Member] | MJC Associates Agreement [Member] | Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 39,000 | ' | ' |
Parent Company [Member] | Commitments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, within one year or less | 8,872 | ' | ' | ' | ' | ' | ' | ' | 8,872 | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, one to three years | 29,928 | ' | ' | ' | ' | ' | ' | ' | 29,928 | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, three to five years | 33,330 | ' | ' | ' | ' | ' | ' | ' | 33,330 | ' | ' |
Payment to the counterparties to the Tax Receivable Agreement, after five years | $112,513 | ' | ' | ' | ' | ' | ' | ' | $112,513 | ' | ' |
Parent Company [Member] | Share Repurchase Program [Member] | Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program number of shares purchased (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 1,298,000 | ' | ' |
Parent Company [Member] | Share Repurchase Program [Member] | Class A [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $36 | ' | ' |
Parent Company [Member] | Share Repurchase Program [Member] | Class A [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock acquired, market value per share (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $41 | ' | ' |
SUPPLEMENTAL_FINANCIAL_INFORMA2
SUPPLEMENTAL FINANCIAL INFORMATION (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Disclosure Supplemental Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Revenues | $218,672 | $187,328 | $206,797 | $152,631 | $214,049 | $153,029 | $172,497 | $102,798 | $765,428 | [1] | $642,373 | [1] | $524,264 | [1] |
Total Expenses | 174,796 | 155,460 | 168,616 | 136,381 | 171,811 | 138,784 | 151,302 | 114,941 | 635,253 | 576,838 | 488,452 | |||
Income (Loss) Before Income from Equity Method Investments and Income Taxes | 43,876 | 31,868 | 38,181 | 16,250 | 42,238 | 14,245 | 21,195 | -12,143 | 130,175 | 65,535 | 35,812 | |||
Income from Equity Method Investments | 5,993 | 562 | 1,015 | 756 | 1,333 | 415 | 719 | 2,385 | 8,326 | 4,852 | 919 | |||
Income Before Income Taxes | 49,869 | 32,430 | 39,196 | 17,006 | 43,571 | 14,660 | 21,914 | -9,758 | 138,501 | 70,387 | 36,731 | |||
Provision (Benefit) for Income Taxes | 26,474 | 12,350 | 17,130 | 7,735 | 18,586 | 7,187 | 9,773 | -4,638 | 63,689 | 30,908 | 22,724 | |||
Net Income (Loss) from Continuing Operations | 23,395 | 20,080 | 22,066 | 9,271 | 24,985 | 7,473 | 12,141 | -5,120 | 74,812 | 39,479 | 14,007 | |||
Net Income (Loss) from Discontinued Operations | -16 | -1,826 | -55 | -893 | 0 | 0 | 0 | 0 | -1,605 | 0 | -966 | |||
Net Income | 23,379 | 18,254 | 22,011 | 8,378 | 24,985 | 7,473 | 12,141 | -5,120 | 72,022 | 39,479 | 10,531 | |||
Net Income Attributable to Noncontrolling Interest | 6,474 | 4,292 | 5,585 | 2,409 | 5,963 | 2,172 | 4,207 | -1,752 | 18,760 | 10,590 | 3,579 | |||
Net Income Attributable to Evercore Partners Inc. | $16,905 | $13,962 | $16,426 | $5,969 | $19,022 | $5,301 | $7,934 | ($3,368) | $53,262 | $28,889 | $6,952 | |||
Basic Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
From Continuing Operations | $0.51 | $0.47 | $0.52 | $0.20 | $0.64 | $0.18 | $0.27 | ($0.12) | $1.70 | $0.98 | $0.30 | |||
From Discontinued Operations | $0 | ($0.04) | $0 | ($0.01) | $0 | $0 | $0 | $0 | ($0.05) | $0 | ($0.04) | |||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | $0.51 | $0.43 | $0.52 | $0.19 | $0.64 | $0.18 | $0.27 | ($0.12) | $1.65 | $0.98 | $0.26 | |||
Diluted Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders: (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
From Continuing Operations | $0.42 | $0.39 | $0.44 | $0.17 | $0.56 | $0.17 | $0.25 | ($0.12) | $1.42 | $0.89 | $0.27 | |||
From Discontinued Operations | $0 | ($0.03) | $0 | ($0.01) | $0 | $0 | $0 | $0 | ($0.04) | $0 | ($0.04) | |||
Net Income (Loss) Per Share Attributable to Evercore Partners Inc. Common Shareholders | $0.42 | $0.36 | $0.44 | $0.16 | $0.56 | $0.17 | $0.25 | ($0.12) | $1.38 | $0.89 | $0.23 | |||
Dividends declared per share of Class A common stock (in dollars per share) | $0.25 | $0.22 | $0.22 | $0.22 | $0.22 | $0.20 | $0.20 | $0.20 | $0.91 | $0.82 | $0.74 | |||
[1] | Net revenues include Other Revenue, net, allocated to the segments as follows:B For the Years Ended December 31,B 2013B 2012B 2011Investment Banking (A)$3,979B $(3,019)B $(2,473)Investment Management (B)(1,116)B (2,636)B (3,021)Total Other Revenue, net$2,863B $(5,655)B $(5,494)B (A)Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013.(B)Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579 for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013. |