Net Income Per Share of Common Stock

3 Months Ended

Mar. 31, 2023

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 periods ended March 31, 2023 and 2022 are presented below:

	Three Months Ended
	March 31,
	2023			2022
Net income attributable to Lazard Ltd	$	(22,172	)	$	113,876
Add - adjustment for earnings attributable to participating securities		(1,125	)		(1,733	)
Net income attributable to Lazard Ltd - basic		(23,297	)		112,143
Add - adjustment for earnings attributable to participating securities		-			1,129
Net income attributable to Lazard Ltd - diluted	$	(23,297	)	$	113,272
Weighted average number of shares of common stock outstanding		85,734,443			100,634,720
Add - adjustment for shares of common stock issuable on a non-contingent basis		1,857,409			1,912,557
Weighted average number of shares of common stock outstanding - basic		87,591,852			102,547,277
Add - dilutive effect, as applicable, of:
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation		-			5,639,365
Weighted average number of shares of common stock outstanding - diluted		87,591,852			108,186,642
Net income attributable to Lazard Ltd per share of common stock:
Basic	$	(0.27	)	$	1.09
Diluted	$	(0.27	)	$	1.05