Evercore Inc. (Parent Company Only) Condensed Statements of Financial Condition |
EVERCORE INC. (parent company only) CONDENSED STATEMENTS OF FINANCIAL CONDITION (dollars in thousands, except share data) | | | | | | | | | | | | | December 31, | | 2023 | | 2022 | ASSETS | | | | Equity Investment in Subsidiary | $ | 1,743,393 | | | $ | 1,703,843 | | | | | | Deferred Tax Assets | 234,719 | | | 233,280 | | Goodwill | 15,236 | | | 15,236 | | Other Assets | 24,110 | | | 31,099 | | TOTAL ASSETS | $ | 2,017,458 | | | $ | 1,983,458 | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | | Liabilities | | | | Current Liabilities | | | | Payable to Related Party | $ | 10,522 | | | $ | 10,417 | | | | | | Other Current Liabilities | 3,304 | | | 3,287 | | | | | | Total Current Liabilities | 13,826 | | | 13,704 | | Amounts Due Pursuant to Tax Receivable Agreements | 52,813 | | | 61,169 | | Long-term Debt - Notes Payable | 373,885 | | | 371,774 | | TOTAL LIABILITIES | 440,524 | | | 446,647 | | Stockholders' Equity | | | | Common Stock | | | | Class A, par value $0.01 per share (1,000,000,000 shares authorized, 82,114,009 and 79,686,375 issued at December 31, 2023 and 2022, respectively, and 37,773,613 and 38,347,262 outstanding at December 31, 2023 and 2022, respectively) | 821 | | | 797 | | Class B, par value $0.01 per share (1,000,000 shares authorized, 46 and 50 issued and outstanding at December 31, 2023 and 2022, respectively) | — | | | — | | Additional Paid-In Capital | 3,163,198 | | | 2,861,775 | | Accumulated Other Comprehensive Income (Loss) | (26,538) | | | (27,942) | | Retained Earnings | 1,892,656 | | | 1,768,098 | | Treasury Stock at Cost (44,340,396 and 41,339,113 shares at December 31, 2023 and 2022, respectively) | (3,453,203) | | | (3,065,917) | | TOTAL STOCKHOLDERS' EQUITY | 1,576,934 | | | 1,536,811 | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 2,017,458 | | | $ | 1,983,458 | |
See notes to parent company only financial statements.
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Evercore Inc. (Parent Company Only) Condensed Statements of Operations |
EVERCORE INC. (parent company only) CONDENSED STATEMENTS OF OPERATIONS | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | 2023 | | 2022 | | 2021 | REVENUES | | | | | | Other Revenue, Including Interest and Investments | $ | 16,717 | | | $ | 16,850 | | | $ | 17,439 | | TOTAL REVENUES | 16,717 | | | 16,850 | | | 17,439 | | Interest Expense | 16,717 | | | 16,850 | | | 17,439 | | NET REVENUES | — | | | — | | | — | | EXPENSES | | | | | | TOTAL EXPENSES | — | | | — | | | — | | OPERATING INCOME | — | | | — | | | — | | Equity in Income of Subsidiary | 315,109 | | | 605,957 | | | 954,167 | | Provision for Income Taxes | 59,630 | | | 129,437 | | | 214,051 | | NET INCOME | $ | 255,479 | | | $ | 476,520 | | | $ | 740,116 | |
See notes to parent company only financial statements.
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Evercore Inc. (Parent Company Only) Condensed Statement of Cash Flows |
EVERCORE INC. (parent company only) CONDENSED STATEMENTS OF CASH FLOWS | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | 2023 | | 2022 | | 2021 | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | Net Income | $ | 255,479 | | | $ | 476,520 | | | $ | 740,116 | | Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: | | | | | | Undistributed Income of Subsidiary | (315,109) | | | (605,957) | | | (954,167) | | | | | | | | Deferred Taxes | 4,332 | | | 2,624 | | | 29,017 | | Accretion on Long-term Debt | 529 | | | 585 | | | 433 | | (Increase) Decrease in Operating Assets: | | | | | | Other Assets | 6,989 | | | (31,099) | | | 25,603 | | Increase (Decrease) in Operating Liabilities: | | | | | | | | | | | | Taxes Payable | — | | | (13,075) | | | 13,075 | | | | | | | | Net Cash Provided by (Used in) Operating Activities | (47,780) | | | (170,402) | | | (145,923) | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | Investment in Subsidiary | 175,644 | | | 297,659 | | | 264,685 | | Net Cash Provided by Investing Activities | 175,644 | | | 297,659 | | | 264,685 | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Payment of Notes Payable | — | | | (67,000) | | | (38,000) | | Issuance of Notes Payable | — | | | 67,000 | | | 38,000 | | Dividends | (127,864) | | | (127,257) | | | (118,762) | | Net Cash Provided by (Used in) Financing Activities | (127,864) | | | (127,257) | | | (118,762) | | NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | — | | | — | | | — | | CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of Year | — | | | — | | | — | | CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of Year | $ | — | | | $ | — | | | $ | — | | | | | | | | SUPPLEMENTAL CASH FLOW DISCLOSURE | | | | | | Accrued Dividends | $ | 17,054 | | | $ | 15,236 | | | $ | 14,332 | | | | | | | |
See notes to parent company only financial statements.
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