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Schedule I - Condensed Financial Information of Registrant (Parent Company Only) | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Schedule I - Condensed Financial Information of Registrant (Parent Company Only) | LAZARD LTD (parent company only) CONDENSED STATEMENTS OF FINANCIAL CONDITION DECEMBER 31, 2022 AND 2021 (dollars in thousands, except per share data)
|  | December 31, |
|  | 2022 |  |  | 2021 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 709 |  |  | $ | 1,208 |
Investments in subsidiaries, equity method |  |  | (1,293,966 | ) |  |  | (859,162 | )
Due from subsidiaries |  |  | 1,861,792 |  |  |  | 1,843,022 |
Other assets |  |  | 17 |  |  |  | 8 |
Total assets |  | $ | 568,552 |  |  | $ | 985,076 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |
Due to subsidiaries |  | $ | 11,903 |  |  | $ | 9,694 |
Other liabilities |  |  | 186 |  |  |  | 162 |
Total liabilities |  |  | 12,089 |  |  |  | 9,856 |
Commitments and contingencies |  |  |  |  |  |  |  |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Preferred stock, par value $.01 per share; 15,000,000 shares authorized: |  |  |  |  |  |  |  |
Series A—no shares issued and outstanding |  |  | - |  |  |  | - |
Series B—no shares issued and outstanding |  |  | - |  |  |  | - |
Common stock: |  |  |  |  |  |  |  |
Class A, par value $.01 per share (500,000,000 shares authorized; 112,766,091 shares issued at December 31, 2022 and 2021, including shares held by subsidiaries as indicated below) |  |  | 1,128 |  |  |  | 1,128 |
Additional paid-in-capital |  |  | 167,890 |  |  |  | 144,729 |
Retained earnings |  |  | 1,676,713 |  |  |  | 1,560,636 |
Accumulated other comprehensive loss, net of tax |  |  | (295,854 | ) |  |  | (223,847 | )
|  |  | 1,549,877 |  |  |  | 1,482,646 |
Class A common stock held by subsidiaries, at cost (26,814,213 and 12,046,140 shares at December 31, 2022 and 2021, respectively) |  |  | (993,414 | ) |  |  | (507,426 | )
Total stockholders’ equity |  |  | 556,463 |  |  |  | 975,220 |
Total liabilities and stockholders’ equity |  | $ | 568,552 |  |  | $ | 985,076 |
LAZARD LTD (parent company only) CONDENSED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 (dollars in thousands)
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
REVENUE |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries |  | $ | 238,987 |  |  | $ | 410,550 |  |  | $ | 274,461 |
Interest and other income |  |  | 120,733 |  |  |  | 119,412 |  |  |  | 129,912 |
Total revenue |  |  | 359,720 |  |  |  | 529,962 |  |  |  | 404,373 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |
Professional services |  |  | 2,083 |  |  |  | 1,792 |  |  |  | 1,851 |
Other |  |  | 120 |  |  |  | 106 |  |  |  | 61 |
Total operating expenses |  |  | 2,203 |  |  |  | 1,898 |  |  |  | 1,912 |
NET INCOME |  | $ | 357,517 |  |  | $ | 528,064 |  |  | $ | 402,461 |
LAZARD LTD (parent company only) CONDENSED STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 (dollars in thousands)
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
NET INCOME |  | $ | 357,517 |  |  | $ | 528,064 |  |  | $ | 402,461 |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX: |  |  |  |  |  |  |  |  |  |  |  |
Currency translation adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Currency translation adjustments before reclassification |  |  | (64,778 | ) |  |  | (48,099 | ) |  |  | 52,860 |
Adjustment for items reclassified to earnings |  |  | 32 |  |  |  | 23,645 |  |  |  | - |
Employee benefit plans: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial gain (loss) (net of tax expense (benefit) of $(5,978), $13,263 and $(1,431) for the years ended December 31, 2022, 2021 and 2020, respectively) |  |  | (11,413 | ) |  |  | 33,315 |  |  |  | (3,626 | )
Adjustments for items reclassified to earnings (net of tax expense of $994, $1,609 and $1,476 for the years ended December 31, 2022, 2021 and 2020, respectively) |  |  | 4,152 |  |  |  | 5,660 |  |  |  | 6,046 |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX |  |  | (72,007 | ) |  |  | 14,521 |  |  |  | 55,280 |
COMPREHENSIVE INCOME |  | $ | 285,510 |  |  | $ | 542,585 |  |  | $ | 457,741 |
LAZARD LTD (parent company only) CONDENSED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 (dollars in thousands)
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 357,517 |  |  | $ | 528,064 |  |  | $ | 402,461 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries |  |  | (238,987 | ) |  |  | (410,550 | ) |  |  | (274,461 | )
Dividends received from subsidiaries |  |  | 79,500 |  |  |  | 69,500 |  |  |  | 42,400 |
Changes in due to/from subsidiaries |  |  | (16,663 | ) |  |  | 9,655 |  |  |  | 23,941 |
Changes in other operating assets and liabilities |  |  | 14 |  |  |  | 30 |  |  |  | (24 | )
Net cash provided by operating activities |  |  | 181,381 |  |  |  | 196,699 |  |  |  | 194,317 |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |
Class A common stock dividends |  |  | (181,880 | ) |  |  | (195,944 | ) |  |  | (196,598 | )
Net cash used in financing activities |  |  | (181,880 | ) |  |  | (195,944 | ) |  |  | (196,598 | )
Net increase (decrease) in cash and cash equivalents |  |  | (499 | ) |  |  | 755 |  |  |  | (2,281 | )
Cash and cash equivalents, January 1 |  |  | 1,208 |  |  |  | 453 |  |  |  | 2,734 |
Cash and cash equivalents, December 31 |  | $ | 709 |  |  | $ | 1,208 |  |  | $ | 453 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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