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Stockholders' Equity and Redeemable Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Schedule of Share Repurchase Authorized by Board of Directors

Share Repurchase Program—Since 2021 and through the three month period ended March 31, 2023, the Board of Directors of Lazard authorized the repurchase of Lazard Ltd Class A common stock (“common stock”), the only class of common stock of Lazard outstanding 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:

Three Months Ended March 31:		Number of Shares Purchased				Average Price Per Share
2022			4,717,821			$	37.26
2023			2,692,161			$	36.75

Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated Other Comprehensive Income (Loss) (“AOCI”), Net of Tax—The tables below reflect the balances of each component of AOCI at March 31, 2023 and 2022 and activity during the three month periods then ended:

		Three Months Ended March 31, 2023
		Currency Translation Adjustments				Employee Benefit Plans				Total AOCI				Amount Attributable to Noncontrolling Interests				Total Lazard Ltd AOCI
Balance, January 1, 2023		$	(156,924	)		$	(138,930	)		$	(295,854	)		$	-			$	(295,854	)
Activity:
Other comprehensive income (loss) before    reclassifications			14,539				(2,801	)			11,738				1				11,737
Adjustments for items reclassified to earnings,    net of tax			-				1,160				1,160				-				1,160
Net other comprehensive income (loss)			14,539				(1,641	)			12,898				1				12,897
Balance, March 31, 2023		$	(142,385	)		$	(140,571	)		$	(282,956	)		$	1			$	(282,957	)

		Three Months Ended March 31, 2022
		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 income (loss) before    reclassifications			(18,068	)			3,439				(14,629	)			(1	)			(14,628	)
Adjustments for items reclassified to earnings,    net of tax			-				849				849				-				849
Net other comprehensive income (loss)			(18,068	)			4,288				(13,780	)			(1	)			(13,779	)
Balance, March 31, 2022		$	(110,246	)		$	(127,381	)		$	(237,627	)		$	(1	)		$	(237,626	)

Adjustments for Items Reclassified Out of AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month periods ended March 31, 2023 and 2022:

		Three Months Ended
		March 31,
		2023				2022
Employee benefit plans:
Amortization relating to employee benefit plans (a)		$	1,536			$	1,116
Less - related income taxes			376				267
Total reclassifications, net of tax		$	1,160			$	849

(a) Included in the computation of net periodic benefit cost (see Note 13). Such amounts are included in “operating expenses—other” on the condensed consolidated statements of operations.

Net Income (Loss) Attributable to Noncontrolling Interests

The tables below summarize net income (loss) attributable to noncontrolling interests for the three month periods ended March 31, 2023 and 2022 and noncontrolling interests as of March 31, 2023 and December 31, 2022 in the Company’s condensed consolidated financial statements:

		Net Income (Loss) Attributable to Noncontrolling Interests
		Three Months Ended
		March 31,
		2023				2022
Edgewater		$	639			$	6,988
LFI Consolidated Funds			4,365				(2,751	)
LGAC			1,968				2,860
Other			1				2
Total		$	6,973			$	7,099

		Noncontrolling Interests as of
		March 31,				December 31,
		2023				2022
Edgewater		$	43,280			$	44,681
Profits interest participation rights			13,690				10,792
LFI Consolidated Funds			-				74,164
LGAC			-				(10,714	)
Other			13				13
Total		$	56,983			$	118,936

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