XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE        
Interest income $ 4,062 $ 1,280 $ 5,823 $ 2,634
Other (17,506) 20,358 (7,914) 54,127
Total revenue 660,658 843,264 1,376,802 1,523,168
Interest expense 21,112 20,127 42,364 39,924
Net revenue 639,546 823,137 1,334,438 1,483,244
OPERATING EXPENSES        
Compensation and benefits 363,830 514,918 760,671 916,464
Occupancy and equipment 29,409 29,875 60,648 64,623
Marketing and business development 22,673 9,332 36,796 15,983
Technology and information services 42,067 35,774 79,998 69,444
Professional services 16,549 19,996 32,578 34,944
Fund administration and outsourced services 28,551 31,302 58,254 60,581
Amortization of intangible assets related to acquisitions 15 15 30 30
Other 10,614 15,664 19,897 20,624
Total operating expenses 513,708 656,876 1,048,872 1,182,693
OPERATING INCOME 125,838 166,261 285,566 300,551
Provision for income taxes 34,187 41,345 72,940 84,809
NET INCOME 91,651 124,916 212,626 215,742
LESS - NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS (3,829) 1,738 3,270 5,264
NET INCOME ATTRIBUTABLE TO LAZARD LTD $ 95,480 $ 123,178 $ 209,356 $ 210,478
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic 98,660,173 106,746,654 100,603,724 107,019,107
Diluted 102,753,336 113,603,478 105,469,988 114,712,885
NET INCOME PER SHARE OF COMMON STOCK:        
Basic $ 0.96 $ 1.14 $ 2.05 $ 1.94
Diluted $ 0.92 $ 1.08 $ 1.97 $ 1.83
Investment Banking and Other Advisory Fees [Member]        
REVENUE        
Revenue $ 405,091 $ 475,161 $ 794,830 $ 792,992
Asset Management Fees [Member]        
REVENUE        
Revenue $ 269,011 $ 346,465 $ 584,063 $ 673,415