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CONSOLIDATED VIEs

9 Months Ended

Sep. 30, 2023

Variable Interest Entity, Measure of Activity [Abstract]

CONSOLIDATED VIEs

CONSOLIDATED VIEs

The Company’s consolidated VIEs as of September 30, 2023 and December 31, 2022 include LGAC (see Note 1) and certain funds (“LFI Consolidated Funds”) that were established for the benefit of employees participating in the Company’s existing LFI deferred compensation arrangement. Lazard invests in these funds and is the investment manager and is therefore deemed to have both the power to direct the most significant activities of the funds and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to these funds. The assets of LFI Consolidated Funds, except as it relates to $112,773 and $115,666 of LFI held by Lazard Group as of September 30, 2023 and December 31, 2022, respectively, can only be used to settle the obligations of LFI Consolidated Funds. The Company’s consolidated VIE assets and liabilities for LFI Consolidated Funds as reflected in the condensed consolidated statements of financial condition consist of the following at September 30, 2023 and December 31, 2022.

			September 30, 2023						December 31, 2022
ASSETS
Cash and cash equivalents			$	3,224					$	3,644
Customers and other receivables			1,789						240
Investments			190,511						186,300
Other assets			737						622
Total assets			$	196,261					$	190,806

LIABILITIES
Deposits and other customer payables			$	1,307					$	528
Other liabilities			400						448
Total liabilities			$	1,707					$	976

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- Definition

The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//810/tableOfContent

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- References

No definition available.

+ Details

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