Net Income Per Share of Common Stock

6 Months Ended

Jun. 30, 2022

15.	NET INCOME PER SHARE OF COMMON STOCK

The Company issued certain profits interest participation rights, including certain PRPUs, that the Company is required under U.S. GAAP to treat as participating securities and therefore the Company is required to utilize the “two-class” method of computing basic and diluted net income per share.

The Company’s basic and diluted net income per share calculations using the “two-class” method for the three month and six month periods ended June 30, 2022 and 2021 are presented below:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Net income attributable to Lazard Ltd	$	95,480		$	123,178		$	209,356		$	210,478
Add - adjustment for earnings attributable to participating securities		(1,090	)		(1,549	)		(2,823	)		(2,841	)
Net income attributable to Lazard Ltd - basic		94,390			121,629			206,533			207,637
Add - adjustment for earnings attributable to participating securities		554			1,549			1,683			2,841
Net income attributable to Lazard Ltd - diluted	$	94,944		$	123,178		$	208,216		$	210,478
Weighted average number of shares of common stock outstanding		97,380,282			105,104,377			99,007,501			105,324,825
Add - adjustment for shares of common stock issuable on a non-contingent basis		1,279,891			1,642,277			1,596,223			1,694,282
Weighted average number of shares of common stock outstanding - basic		98,660,173			106,746,654			100,603,724			107,019,107
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation		4,093,163			6,856,824			4,866,264			7,693,778
Weighted average number of shares of common stock outstanding - diluted		102,753,336			113,603,478			105,469,988			114,712,885
Net income attributable to Lazard Ltd per share of common stock:
Basic	$	0.96		$	1.14		$	2.05		$	1.94
Diluted	$	0.92		$	1.08		$	1.97		$	1.83