XML 54 R31.htm IDEA: XBRL DOCUMENT v3.25.0.1
Net Income (Loss) Per Share of Common Stock
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share of Common Stock NET INCOME (LOSS) PER SHARE OF COMMON STOCK
The Company is required to utilize the “two-class” method of computing basic and diluted net income per share because the Company issued certain PIPRs, including certain P-PIPRs, which are treated as participating securities.
The Company’s basic and diluted net income (loss) per share calculations using the “two-class” method for the years ended December 31, 2024, 2023, and 2022 are presented below:
Year Ended December 31,
202420232022
Net income (loss) attributable to Lazard $279,912 $(75,479)$357,517 
Adjustment for earnings attributable to participating securities
(6,886)(4,440)(5,732)
Net income (loss) attributable to Lazard - basic273,026 (79,919)351,785 
Adjustment for earnings attributable to participating securities
1,233 – 2,641 
Net income (loss) attributable to Lazard - diluted$274,259 $(79,919)$354,426 
Weighted average number of shares of common stock outstanding
89,858,73086,751,82293,994,663
Weighted average number of shares of common stock issuable on a non-contingent basis
3,280,6222,242,1631,669,466
Weighted average number of shares of common stock outstanding - basic
93,139,35288,993,98595,664,129
Weighted average number of incremental shares of common stock issuable from share-based incentive compensation (a)
9,252,819–5,333,545
Weighted average number of shares of common stock outstanding - diluted
102,392,17188,993,985100,997,674
Net income (loss) attributable to Lazard per share of common stock:
Basic$2.93 $(0.90)$3.68 
Diluted$2.68 $(0.90)$3.51 
_____________________

(a)The aggregate weighted average number of incremental shares of common stock issuable from PIPRs for the year ended December 31, 2024 of 1,463,646 and from RSUs, PRSUs and PIPRs for the year ended December 31, 2023 of 4,779,627, that could be potentially dilutive in future periods, have been excluded from the computation of diluted net income (loss) per share as the effect would be antidilutive in the respective periods.