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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Schedule of Share Repurchase Authorized by Board of Directors | Share Repurchase Program—During 2021 and through the year ended December 31, 2022, the Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below.
Date |  | Repurchase Authorization |  |  |  | Expiration
April 2021 |  | $ | 300,000 |  |  |  | December 31, 2022
February 2022 |  | $ | 300,000 |  |  |  | December 31, 2024
July 2022 |  | $ | 500,000 |  |  |  | December 31, 2024
Schedule of Shares Repurchased Under the Share Repurchase Program | The Company expects that the share repurchase program will continue to be used to offset a portion of the shares that have been or will be issued under the Lazard Ltd 2008 Incentive Compensation Plan (the “2008 Plan”) and the Lazard Ltd 2018 Incentive Compensation Plan, as amended (the “2018 Plan”). Pursuant to the share repurchase program, purchases have been made in the open market or through privately negotiated transactions. The rate at which the Company purchases shares in connection with the share repurchase program may vary from period to period due to a variety of factors. Purchases with respect to such program are set forth in the table below:
Year Ended December 31: |  | Number of Shares Purchased |  |  | Average Price Per Share |
2020 |  |  | 2,912,035 |  |  | $ | 32.70 |
2021 |  |  | 9,124,295 |  |  | $ | 44.51 |
2022 |  |  | 19,666,798 |  |  | $ | 35.17 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | Accumulated Other Comprehensive Income (Loss), Net of Tax—The tables below reflect the balances of each component of AOCI at December 31, 2022, 2021 and 2020 and activity during the years then ended:
|  | Currency Translation Adjustments |  |  | Employee Benefit Plans |  |  | Total AOCI |  |  | Amount Attributable to Noncontrolling Interests |  |  | Total Lazard Ltd AOCI |
Balance, January 1, 2022 |  | $ | (92,178 | ) |  | $ | (131,669 | ) |  | $ | (223,847 | ) |  | $ | - |  |  | $ | (223,847 | )
Activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive loss before reclassifications |  |  | (64,778 | ) |  |  | (11,413 | ) |  |  | (76,191 | ) |  |  | - |  |  |  | (76,191 | )
Adjustments for items reclassified to earnings, net of tax |  |  | 32 |  |  |  | 4,152 |  |  |  | 4,184 |  |  |  | - |  |  |  | 4,184 |
Net other comprehensive loss |  |  | (64,746 | ) |  |  | (7,261 | ) |  |  | (72,007 | ) |  |  | - |  |  |  | (72,007 | )
Balance, December 31, 2022 |  | $ | (156,924 | ) |  | $ | (138,930 | ) |  | $ | (295,854 | ) |  | $ | - |  |  | $ | (295,854 | )
|  | Currency Translation Adjustments |  |  | Employee Benefit Plans |  |  | Total AOCI |  |  | Amount Attributable to Noncontrolling Interests |  |  | Total Lazard Ltd AOCI |
Balance, January 1, 2021 |  | $ | (67,724 | ) |  | $ | (170,644 | ) |  | $ | (238,368 | ) |  | $ | - |  |  | $ | (238,368 | )
Activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications |  |  | (48,099 | ) |  |  | 33,315 |  |  |  | (14,784 | ) |  |  | - |  |  |  | (14,784 | )
Adjustments for items reclassified to earnings, net of tax |  |  | 23,645 |  |  |  | 5,660 |  |  |  | 29,305 |  |  |  | - |  |  |  | 29,305 |
Net other comprehensive income (loss) |  |  | (24,454 | ) |  |  | 38,975 |  |  |  | 14,521 |  |  |  | - |  |  |  | 14,521 |
Balance, December 31, 2021 |  | $ | (92,178 | ) |  | $ | (131,669 | ) |  | $ | (223,847 | ) |  | $ | - |  |  | $ | (223,847 | )
|  | Currency Translation Adjustments |  |  | Employee Benefit Plans |  |  | Total AOCI |  |  | Amount Attributable to Noncontrolling Interests |  |  | Total Lazard Ltd AOCI |
Balance, January 1, 2020 |  | $ | (120,586 | ) |  | $ | (173,064 | ) |  | $ | (293,650 | ) |  | $ | (2 | ) |  | $ | (293,648 | )
Activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications |  |  | 52,862 |  |  |  | (3,626 | ) |  |  | 49,236 |  |  |  | 2 |  |  |  | 49,234 |
Adjustments for items reclassified to earnings, net of tax |  |  | - |  |  |  | 6,046 |  |  |  | 6,046 |  |  |  | - |  |  |  | 6,046 |
Net other comprehensive income |  |  | 52,862 |  |  |  | 2,420 |  |  |  | 55,282 |  |  |  | 2 |  |  |  | 55,280 |
Balance, December 31, 2020 |  | $ | (67,724 | ) |  | $ | (170,644 | ) |  | $ | (238,368 | ) |  | $ | - |  |  | $ | (238,368 | )
Adjustments for Items Reclassified Out of AOCI | The table below reflects adjustments for items reclassified out of AOCI, by component, for the years ended December 31, 2022, 2021 and 2020:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Currency translation losses (a) |  | $ | 32 |  |  | $ | 23,645 |  |  | $ | - |
Employee benefit plans: |  |  |  |  |  |  |  |  |  |  |  |
Amortization relating to employee benefit plans (b) |  |  | 5,146 |  |  |  | 7,269 |  |  |  | 7,522 |
Less - related income taxes |  |  | 994 |  |  |  | 1,609 |  |  |  | 1,476 |
|  |  | 4,152 |  |  |  | 5,660 |  |  |  | 6,046 |
Total reclassifications, net of tax |  | $ | 4,184 |  |  | $ | 29,305 |  |  | $ | 6,046 |
(a) | Represents currency translation losses reclassified to earnings out of AOCI associated with restructuring and closing of certain of our offices. Such amounts are included in “revenue–other” on the consolidated statements of operations.
(b) | Included in the computation of net periodic benefit cost (see Note 16). Such amounts are included in “operating expenses–other” on the consolidated statements of operations.
Net Income (Loss) Attributable to Noncontrolling Interests | The tables below summarize net income (loss) attributable to noncontrolling interests for the years ended December 31, 2022, 2021 and 2020 and noncontrolling interests as of December 31, 2022 and 2021 in the Company’s consolidated financial statements:
|  | Net Income (Loss) Attributable to Noncontrolling Interests Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Edgewater |  | $ | 31,314 |  |  | $ | 10,466 |  |  | $ | (2,349 | )
LFI Consolidated Funds |  |  | (11,415 | ) |  |  | 7,950 |  |  |  | 2,577 |
LGAC |  |  | 15,064 |  |  |  | (3,940 | ) |  |  | - |
Other |  |  | 3 |  |  |  | 5 |  |  |  | 3 |
Total |  | $ | 34,966 |  |  | $ | 14,481 |  |  | $ | 231 |
|  | Noncontrolling Interests as of December 31, |
|  | 2022 |  |  | 2021 |
Edgewater |  | $ | 44,681 |  |  | $ | 44,826 |
Profits interest participation rights |  |  | 10,792 |  |  |  | 4,049 |
LFI Consolidated Funds |  |  | 74,164 |  |  |  | 67,299 |
LGAC |  |  | (10,714 | ) |  |  | (13,445 | )
Other |  |  | 13 |  |  |  | 15 |
Total |  | $ | 118,936 |  |  | $ | 102,744 |

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