XML 54 R43.htm IDEA: XBRL DOCUMENT
v3.24.2

STOCKHOLDERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Equity [Abstract] |
Schedule of Share Repurchase Authorized by Board of Directors | The Board of Directors of Lazard authorized the repurchase of Lazard, Inc. common stock (“common stock”) as set forth in the table below as of June 30, 2024:
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:
Six Months Ended June 30: | Number of Shares Purchased |  | Average Price Per Share
2023 | 2,697,627 |  | $ | 36.73 |
2024 | 1,055,913 |  | $ | 38.66 |
Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax | The tables below reflect the balances of each component of AOCI at June 30, 2024 and 2023 and activity during the three month and six month periods then ended:
| Three Months Ended June 30, 2024
| Currency Translation Adjustments |  | Employee Benefit Plans |  | Total AOCI |  | Amount Attributable to Noncontrolling Interests |  | Total Lazard, Inc. AOCI
Balance - April 1, 2024 | $ | (140,253) |  |  | $ | (163,741) |  |  | $ | (303,994) |  |  | $ | 1 |  |  | $ | (303,995) |
Activity: |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications | (4,572) |  |  | 789 |  |  | (3,783) |  |  | – |  |  | (3,783) |
Adjustments for items reclassified to earnings, net of tax | – |  |  | 1,485 |  |  | 1,485 |  |  | – |  |  | 1,485 |
Net other comprehensive income (loss) | (4,572) |  |  | 2,274 |  |  | (2,298) |  |  | – |  |  | (2,298) |
Balance, June 30, 2024 | $ | (144,825) |  |  | $ | (161,467) |  |  | $ | (306,292) |  |  | $ | 1 |  |  | $ | (306,293) |
| Six Months Ended June 30, 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 | (20,834) |  |  | 1,604 |  |  | (19,230) |  |  | – |  |  | (19,230) |
Adjustments for items reclassified to earnings, net of tax | – |  |  | 2,887 |  |  | 2,887 |  |  | – |  |  | 2,887 |
Net other comprehensive income (loss) | (20,834) |  |  | 4,491 |  |  | (16,343) |  |  | – |  |  | (16,343) |
Balance, June 30, 2024 | $ | (144,825) |  |  | $ | (161,467) |  |  | $ | (306,292) |  |  | $ | 1 |  |  | $ | (306,293) |
| Three Months Ended June 30, 2023
| Currency Translation Adjustments |  | Employee Benefit Plans |  | Total AOCI |  | Amount Attributable to Noncontrolling Interests |  | Total Lazard, Inc. AOCI
Balance - April 1, 2023 | $ | (142,385) |  |  | $ | (140,571) |  |  | $ | (282,956) |  |  | $ | 1 |  |  | $ | (282,957) |
Activity: |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications | 2,478 |  |  | (2,585) |  |  | (107) |  |  | (2) |  |  | (105) |
Adjustments for items reclassified to earnings, net of tax | – |  |  | 1,176 |  |  | 1,176 |  |  | – |  |  | 1,176 |
Net other comprehensive income (loss) | 2,478 |  |  | (1,409) |  |  | 1,069 |  |  | (2) |  |  | 1,071 |
Balance, June 30, 2023 | $ | (139,907) |  |  | $ | (141,980) |  |  | $ | (281,887) |  |  | $ | (1) |  |  | $ | (281,886) |
| Six Months Ended June 30, 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 | 17,017 |  |  | (5,386) |  |  | 11,631 |  |  | (1) |  |  | 11,632 |
Adjustments for items reclassified to earnings, net of tax | – |  |  | 2,336 |  |  | 2,336 |  |  | – |  |  | 2,336 |
Net other comprehensive income (loss) | 17,017 |  |  | (3,050) |  |  | 13,967 |  |  | (1) |  |  | 13,968 |
Balance, June 30, 2023 | $ | (139,907) |  |  | $ | (141,980) |  |  | $ | (281,887) |  |  | $ | (1) |  |  | $ | (281,886) |
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 and six month periods ended June 30, 2024 and 2023:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Employee benefit plans: |  |  |  |  |  |  |
Amortization relating to employee benefit plans (a) | $ | 1,940 |  |  | $ | 1,561 |  |  | $ | 3,797 |  |  | $ | 3,097 |
Less - related income taxes | 455 |  |  | 385 |  |  | 910 |  |  | 761 |
Total reclassifications, net of tax | $ | 1,485 |  |  | $ | 1,176 |  |  | $ | 2,887 |  |  | $ | 2,336 |
__________________________ (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.

X
- Definition Tabular disclosure of the share repurchases authorized by board of directors. + References No definition available. + Details
Name: | laz_ScheduleOfShareRepurchasesAuthorizedByBoardOfDirectorsTableTableTextBlock
Namespace Prefix: | laz_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of shares repurchased during the period under the share repurchased program. + References No definition available. + Details
Name: | laz_ScheduleOfSharesRepurchasedUnderShareRepurchaseProgramTableTableTextBlock
Namespace Prefix: | laz_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration