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Stockholders' Equity and Redeemable Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Share Repurchase Authorized by Board of Directors

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

February 2022

$

300,000

December 31, 2024

July 2022

$

500,000

December 31, 2024

Schedule of Shares Repurchased Under the Share Repurchase Program

Purchases with respect to such program are set forth in the table below:

Year Ended December 31:						Number of Shares Purchased						Average Price Per Share
2021						9,124,295						$	44.51
2022						19,666,798						$	35.17
2023						2,782,662						$	36.67

Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax

The tables below reflect the balances of each component of AOCI at December 31, 2023, 2022 and 2021 and activity during the years then ended:

			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			31,107						(32,261)						(1,154)						1						(1,155)
Adjustments for items reclassified to earnings, net of tax			1,826						5,233						7,059						–						7,059
Net other comprehensive income (loss)			32,933						(27,028)						5,905						1						5,904
Balance, December 31, 2023			$	(123,991)					$	(165,958)					$	(289,949)					$	1					$	(289,950)

			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 loss before reclassifications			(64,778)						(11,413)						(76,191)						–						(76,191)
Adjustments for items reclassified to earnings, net of tax			32						4,152						4,184						–						4,184
Net other comprehensive loss			(64,746)						(7,261)						(72,007)						–						(72,007)
Balance, December 31, 2022			$	(156,924)					$	(138,930)					$	(295,854)					$	–					$	(295,854)

			Currency Translation Adjustments						Employee Benefit Plans						Total AOCI						Amount Attributable to Noncontrolling Interests						Total Lazard Ltd AOCI
Balance, January 1, 2021			$	(67,724)					$	(170,644)					$	(238,368)					$	–					$	(238,368)
Activity:
Other comprehensive income (loss) before reclassifications			(48,099)						33,315						(14,784)						–						(14,784)
Adjustments for items reclassified to earnings, net of tax			23,645						5,660						29,305						–						29,305
Net other comprehensive income (loss)			(24,454)						38,975						14,521						–						14,521
Balance, December 31, 2021			$	(92,178)					$	(131,669)					$	(223,847)					$	–					$	(223,847)

Schedule of Adjustments for Items Reclassified From AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the years ended December 31, 2023, 2022 and 2021:

			Year Ended December 31,
			2023						2022						2021
Currency translation losses (a)			$	1,826					$	32					$	23,645
Employee benefit plans:
Amortization relating to employee benefit plans (b)			6,754						5,146						7,269
Less - related income taxes			1,521						994						1,609
			5,233						4,152						5,660
Total reclassifications, net of tax			$	7,059					$	4,184					$	29,305

________________________

(a)Represents currency translation losses reclassified from AOCI associated with closing certain of our offices. Such amounts are included in “revenue–other” on the consolidated statements of operations.

(b)Included in the computation of net periodic benefit cost (see Note 17). Such amounts are included in “operating expenses–other” on the consolidated statements of operations.

Schedule of Net Income (Loss) Attributable to Noncontrolling Interests

The tables below summarize net income (loss) attributable to noncontrolling interests for the years ended December 31, 2023, 2022 and 2021 and noncontrolling interests as of December 31, 2023 and 2022 in the Company’s consolidated financial statements:

			Net Income (Loss) Attributable to Noncontrolling Interests Year Ended December 31,
			2023						2022						2021
Edgewater			$	6,051					$	31,314					$	10,466
LFI Consolidated Funds			10,150						(11,415)						7,950
LGAC			1,968						15,064						(3,940)
Other			3						3						5
Total			$	18,172					$	34,966					$	14,481

			Noncontrolling Interests as of December 31,
			2023						2022
Edgewater			$	46,571					$	44,681
Profits interest participation rights			11,843						10,792
LFI Consolidated Funds			–						74,164
LGAC			–						(10,714)
Other			14						13
Total			$	58,428					$	118,936

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