Evercore Business and Financial Overview
U.S. GAAP Reconciliation to Adjusted Results (Unaudited)
Footnotes
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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 ongoing 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 current 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. Expenses during 2017 related to a
charge for the impairment of goodwill in the Institutional Asset Management reporting unit and a charge for the impairment of our investment in G5 in the
second quarter and the sale of the Institutional Trust and Independent Fiduciary business of ETC during the fourth quarter.
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.
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 interests 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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