Income Taxes

For the three and six months ended June 30, 2013 and June 30, 2012, Evercore’s Adjusted Pro Forma effective tax rate was 38%.

For the three and six months ended June 30, 2013, Evercore’s U.S. GAAP effective tax rate was approximately 44% and 45%, respectively, compared to 45% and 42% for the three and six months ended June 30, 2012, respectively. The effective tax rate for U.S. GAAP purposes reflects significant adjustments relating to the tax treatment of certain compensation transactions, non-controlling interest associated with Evercore LP Units, state, local and foreign taxes, and other adjustments.

Balance Sheet

The Company continues to maintain a strong balance sheet, holding cash, cash equivalents and marketable securities of $183.8 million at June 30, 2013. Current assets exceed current liabilities by $194.4 million at June 30, 2013. Amounts due related to the Long-Term Notes Payable were $102.3 million at June 30, 2013.

During the quarter the Company repurchased approximately 1,358,000 shares and 185,000 LP units for an aggregate average cost per share/unit of $37.11.


On July 23, 2013, the Board of Directors of Evercore declared a quarterly dividend of $0.22 per share to be paid on September 13, 2013 to common stockholders of record on August 30, 2013.

Conference Call

Evercore will host a conference call to discuss its results for the second quarter on Wednesday, July 24, 2013, at 8:00 a.m. Eastern Time with access available via the internet and telephone. Investors and analysts may participate in the live conference call by dialing (866) 202-3048 (toll-free domestic) or (617) 213-8843 (international); passcode: 14751403. Please register at least 10 minutes before the conference call begins. A replay of the call will be available for one week via telephone starting approximately one hour after the call ends. The replay can be accessed at (888) 286-8010 (toll-free domestic) or (617) 801-6888 (international); passcode: 86707364. A live webcast of the conference call will be available on the Investor Relations section of Evercore’s website at The webcast will be archived on Evercore’s website for 30 days after the call.

About Evercore

Evercore is a leading independent investment banking advisory firm. Evercore’s Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with high quality research, sales and trading execution that is free of the conflicts created by proprietary activities. Evercore’s Investment Management business comprises wealth management, institutional asset management and private equity investing. Evercore serves a diverse set of clients around the world from its offices in New York, Boston, Chicago, Minneapolis, Houston, Los Angeles, San Francisco, Washington D.C., Toronto, London, Aberdeen, Scotland, Mexico City and Monterrey, Mexico, Hong Kong and Rio de Janeiro and São Paulo, Brazil. More information about Evercore can be found on the Company’s website at

Basis of Alternative Financial Statement Presentation

Adjusted Pro Forma results are a non-GAAP measure. Evercore believes that the disclosed Adjusted Pro Forma measures and any adjustments thereto, when presented in conjunction with comparable U.S. GAAP measures, are useful to investors to compare Evercore’s results across several periods and better reflect management’s view of operating results. These measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP results to Adjusted Pro Forma results is presented in the tables included in Annex I.

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