XML 58 R41.htm IDEA: XBRL DOCUMENT
v3.23.1

Incentive Plans (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense | The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs, RSAs and profits interest participation rights, including PRPUs) and “professional services” expense (with respect to DSUs) within the Company’s accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2023 and 2022:
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Share-based incentive awards: |  |  |  |  |  |  |  |
RSUs |  | $ | 43,576 |  |  | $ | 26,659 |
PRSUs |  |  | 789 |  |  |  | 245 |
RSAs |  |  | 6,926 |  |  |  | 4,936 |
Profits interest participation rights |  |  | 19,062 |  |  |  | 21,448 |
DSUs |  |  | 181 |  |  |  | 149 |
Total |  | $ | 70,534 |  |  | $ | 53,437 |
Summary of LFI and Other Similar Deferred Compensation Arrangements | The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the three month period ended March 31, 2023:
|  | Prepaid Compensation Asset |  |  | Compensation Liability |
Balance, January 1, 2023 |  | $ | 112,124 |  |  | $ | 326,282 |
Granted |  |  | 159,981 |  |  |  | 159,981 |
Settled |  |  | - |  |  |  | (137,633 | )
Forfeited |  |  | 2,510 |  |  |  | (1,018 | )
Amortization |  |  | (34,942 | ) |  |  | - |
Change in fair value related to: |  |  |  |  |  |  |  |
Change in fair value of underlying investments |  |  | - |  |  |  | 16,453 |
Adjustment for estimated forfeitures |  |  | - |  |  |  | 3,114 |
Other |  |  | 72 |  |  |  | 355 |
Balance, March 31, 2023 |  | $ | 239,745 |  |  | $ | 367,534 |
The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month periods ended March 31, 2023 and 2022:
|  | Three Months Ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Amortization, net of forfeitures |  | $ | 34,528 |  |  | $ | 35,625 |
Change in the fair value of underlying investments |  |  | 16,453 |  |  |  | (14,323 | )
Total |  | $ | 50,981 |  |  | $ | 21,302 |
Restricted Stock Units and Deferred Stock Units [Member] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to RSUs and DSUs during the three month period ended March 31, 2023:
|  | RSUs |  |  | DSUs |
|  | Units |  |  | Weighted Average Grant Date Fair Value |  |  | Units |  |  | Weighted Average Grant Date Fair Value |
Balance, January 1, 2023 |  |  | 9,022,917 |  |  | $ | 37.97 |  |  |  | 400,820 |  |  | $ | 37.66 |
Granted (including 169,034 RSUs relating to dividend participation) |  |  | 4,228,611 |  |  | $ | 37.44 |  |  |  | 4,774 |  |  | $ | 37.85 |  |
Forfeited |  |  | (10,572 | ) |  | $ | 38.91 |  |  |  | - |  |  | $ | - |
Settled |  |  | (2,753,616 | ) |  | $ | 42.55 |  |  |  | - |  |  | $ | - |
Balance, March 31, 2023 |  |  | 10,487,340 |  |  | $ | 36.55 |  |  |  | 405,594 |  |  | $ | 37.66 |
Restricted Stock Awards Class A [Member] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity related to RSAs associated with compensation arrangements during the three month period ended March 31, 2023:
|  | RSAs |  |  | Weighted Average Grant Date Fair Value |
Balance, January 1, 2023 |  |  | 1,266,424 |  |  | $ | 36.99 |
Granted (including 25,258 relating to dividend participation) |  |  | 600,922 |  |  | $ | 37.75 |
Forfeited |  |  | (3,401 | ) |  | $ | 41.41 |
Settled |  |  | (297,142 | ) |  | $ | 42.95 |
Balance, March 31, 2023 |  |  | 1,566,803 |  |  | $ | 36.14 |
PRSUs [Member] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to PRSUs during the three month period ended March 31, 2023:
|  | PRSUs |  |  | Weighted Average Grant Date Fair Value |
Balance, January 1, 2023 |  |  | 94,690 |  |  | $ | 39.27 |
Balance, March 31, 2023 |  |  | 94,690 |  |  | $ | 39.27 |
Profits Interest Participation Rights [Member] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to profits interest participation rights, including PRPUs, during the three month period ended March 31, 2023:
|  | Profits Interest Participation Rights |  |  | Weighted Average Grant Date Fair Value |
Balance, January 1, 2023 |  |  | 4,131,628 |  |  | $ | 40.15 |
Granted |  |  | 1,238,074 |  |  | $ | 35.94 |
Settled |  |  | (1,521,620 | ) |  | $ | 42.17 |
Balance, March 31, 2023 (a) |  |  | 3,848,082 |  |  | $ | 38.00 |
(a) | Table includes 1,474,002 PRPUs as of March 31, 2023. This includes 2,447,224 PRPUs as of January 1, 2023, net of 973,222 PRPUs settled during the three month period ended March 31, 2023. The balance as of March 31, 2023 reflects the target number of PRPUs granted in February 2021 and March 2022. There were no PRPUs granted during the three month period ended March 31, 2023. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of January 1, 2023 were $40.29 and $39.96, respectively. The weighted average grant date fair values for other profits interest participation rights granted during the three month period ended March 31, 2023 was $35.94. The weighted average grant date fair values for PRPUs and other profits interest participation rights settled during the three month period ended March 31, 2023 were $41.76 and $42.89, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of March 31, 2023 were $39.31 and $37.19, respectively.

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 30 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6409875&loc=d3e20015-108363 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=6409961&loc=d3e20517-108367 + Details
Name: | us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AwardTypeAxis=laz_RestrictedStockUnitsAndDeferredStockUnitsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AwardTypeAxis=laz_RestrictedStockAwardsClassAMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AwardTypeAxis=laz_PerformanceBasedRestrictedStockUnitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AwardTypeAxis=laz_ProfitsInterestParticipationRightsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |