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STOCKHOLDERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Share Repurchase Authorized by Board of Directors

Share Repurchase Program—The Board of Directors of Lazard authorized the repurchase of Lazard, Inc. common stock (“common stock”) 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

The Company’s purchases under the share repurchase program over time are used to offset most or all of the shares that have been or will be issued under Lazard’s 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
2023	2,692,161	$	36.75
2024	564,692	$	38.97

Schedule of 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, 2024 and 2023 and activity during the three month periods then ended:


	Three Months Ended March 31, 2024
	Currency Translation Adjustments		Employee Benefit Plans		Total AOCI		Amount Attributable to Noncontrolling Interests		Total Lazard, Inc. AOCI
Balance, January 1, 2024	$	(123,991)	$	(165,958)	$	(289,949)	$	1	$	(289,950)
Activity:
Other comprehensive income (loss) before reclassifications	(16,262)		815		(15,447)		–		(15,447)
Adjustments for items reclassified to earnings, net of tax	–		1,402		1,402		–		1,402
Net other comprehensive income (loss)	(16,262)		2,217		(14,045)		–		(14,045)
Balance, March 31, 2024	$	(140,253)	$	(163,741)	$	(303,994)	$	1	$	(303,995)


	Three Months Ended March 31, 2023
	Currency Translation Adjustments		Employee Benefit Plans		Total AOCI		Amount Attributable to Noncontrolling Interests		Total Lazard, Inc. 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)

Schedule of Adjustments for Items Reclassified From AOCI

The table below reflects adjustments for items reclassified out of AOCI, by component, for the three month periods ended March 31, 2024 and 2023:


	Three Months Ended March 31,
	2024		2023
Employee benefit plans:
Amortization relating to employee benefit plans (a)	$	1,857	$	1,536
Less - related income taxes	455		376
Total reclassifications, net of tax	$	1,402	$	1,160

__________________________

(a)Included in the computation of net periodic benefit cost (see Note 14). Such amounts are included in “operating expenses–other” on the condensed consolidated statements of operations.

Schedule of Net Income (Loss) Attributable to Noncontrolling Interests

The tables below summarize net income attributable to noncontrolling interests for the three month periods ended March 31, 2024 and 2023 and noncontrolling interests as of March 31, 2024 and December 31, 2023 in the Company’s condensed consolidated financial statements:


	Net Income Attributable to Noncontrolling Interests
	Three Months Ended March 31,
	2024		2023
Edgewater	$	1,852	$	639
LGAC	–		136
Other	–		1
Total noncontrolling interests (nonredeemable)	1,852		776
LFI Consolidated Funds	2,617		4,365
LGAC	–		1,832
Total noncontrolling interests (redeemable)	2,617		6,197
Total noncontrolling interests	$	4,469	$	6,973


	Noncontrolling Interests as of
	March 31, 2024		December 31, 2023
Edgewater	$	47,386	$	46,571
Profits interest participation rights	8,418		11,843
Other	13		14
Total	$	55,817	$	58,428