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CONSOLIDATED VIEs | 9 Months Ended
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Sep. 30, 2024
Variable Interest Entity, Measure of Activity [Abstract] |
CONSOLIDATED VIEs | CONSOLIDATED VIEs LFI Consolidated Funds The Company’s consolidated VIEs as of September 30, 2024 and December 31, 2023 include 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 $71,964 and $113,174 of LFI held by Lazard Group as of September 30, 2024 and December 31, 2023, 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, 2024 and December 31, 2023.
| September 30, 2024 |  | December 31, 2023
ASSETS |  |  |
Cash and cash equivalents | $ | 2,921 |  |  | $ | 4,627 |
Customers and other receivables | 526 |  |  | 23,277 |
Investments | 153,146 |  |  | 196,112 |
Other assets | 493 |  |  | 683 |
Total assets | $ | 157,086 |  |  | $ | 224,699 |
LIABILITIES |  |  |
Deposits and other customer payables | $ | 293 |  |  | $ | 23,498 |
Other liabilities | 362 |  |  | 353 |
Total liabilities | $ | 655 |  |  | $ | 23,851 |
Lazard Growth Acquisition Corp. I In addition, the Company’s consolidated VIEs for the nine month period ended September 30, 2023 included Lazard Growth Acquisition Corp. I (“LGAC”), a former special purpose acquisition company. The Company held a controlling financial interest in LGAC through a subsidiary’s ownership of Class B founder shares of LGAC. As a result, both LGAC and the sponsor were consolidated in the Company’s financial statements. “Redeemable noncontrolling interests” of $583,471 associated with the publicly held LGAC Class A ordinary shares were recorded on the Company’s consolidated statements of financial condition as of December 31, 2022 at redemption value and classified as temporary equity. On February 23, 2023, LGAC redeemed all of its outstanding publicly held Class A ordinary shares as a result of LGAC not consummating a business combination within the time period required by its amended and restated memorandum and articles of association resulting in the distribution of $585,891 of the cash held in the trust account to the LGAC shareholders. The Company recognized $17,929 of losses on the liquidation of LGAC in “revenue-other” on the condensed consolidated statement of operations for the nine month period ended September 30, 2023. In addition, $20,125 of non-cash deferred underwriting fees was no longer probable of being incurred and therefore was reversed from other liabilities to additional paid-in-capital.

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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 + Details
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