Evercore Financial Performance and Governance
U.S. GAAP Reconciliation to Adjusted Results (Unaudited)
Footnotes
12.
13.
14.
15.
Expenses, or reversal of expenses, incurred from the vesting of Class E and J LP Units issued in conjunction with the acquisition of ISI are excluded from
the Adjusted presentation.
Expenses during 2023 that are excluded from the Adjusted presentation relate to the write-off of non-recoverable assets in connection with the wind-down
of the Company's operations in Mexico. Expenses during 2022 that are excluded from the Adjusted presentation relate to charges associated with the
prepayment of the Company's Series B Notes during the second quarter, as well as certain professional fees, separation benefits and other charges
related to the wind-down of the Company's operations in Mexico. Expenses during 2021 that are excluded from the Adjusted presentation relate to the
write-down of certain assets associated with a legacy private equity investment relationship which, consistent with the Company's investment strategy, the
Company decided to wind down during the third quarter. Expenses during 2020 that are excluded from the Adjusted presentation relate to separation and
transition benefits and related costs as a result of the Company's review of its operations and the acceleration of depreciation expense for leasehold
improvements and certain other fixed assets in conjunction with the expansion of our headquarters in New York and our business realignment initiatives,
as well as charges related to the impairment of assets resulting from the wind-down of our Mexico business. Expenses during 2019 related to the
acceleration of depreciation expense for leasehold improvements in conjunction with the expansion of our headquarters in New York, the impairment of
goodwill in the Institutional Asset Management reporting unit and separation and transition benefits for certain employees terminated as a result of the
Company's review of its operations. Expenses during 2018 related to separation benefits and costs of terminating certain contracts associated with closing
the agency trading platform in the U.K. and separation benefits and related charges associated with the Company's businesses in Mexico, as well as the
acceleration of depreciation expense for leasehold improvements in conjunction with the expansion of our headquarters in New York.
The exclusion from the Adjusted presentation of professional fees incurred and costs related to transitioning acquisitions or divestitures.
The expense, or the reversal of expense, associated with the changes in fair value of contingent consideration issued to the sellers of certain of the
Company's acquisitions is excluded from the Adjusted results.
16.
The Adjusted results exclude the Income (Loss) from our equity method investment in Pan.
17.
18.
19.
The write-off of General Partnership investment balances during the fourth quarter of 2013 associated with the acquisition of Protego.
Reflects an adjustment to eliminate noncontrolling interest related to substantially all Evercore LP partnership units which are assumed to be converted to
Class A common stock in the Adjusted presentation.
Assumes the vesting, and exchange into Class A shares, of substantially all Evercore LP Units and IPO related restricted stock unit awards in the
Adjusted presentation. In the computation of outstanding common stock equivalents for U.S. GAAP net income per share, the Evercore LP Units are anti-
dilutive.
EVERCORE
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